The Nelson Commons development project has reached its pre-sale requirement of 34 of 54 units.
Once the final financing is in place, construction can begin on the $26 million Nelson Commons residential and retail project. Project manager Russell Precious said they are still hoping that the demolition of the Extra Foods building and the subsequent excavation will start before Christmas with construction to begin immediately after.
The project is expected to be completed in less than two years.
“We’re still hoping for late spring 2016 occupancy,” said Precious.
Pre-sales of the remaining 20 units will continue during the construction phase. There are one, two and three bedroom units still available.
How it started:
In 2012 the Kootenay Co-op purchased the Extra Foods grocery store in the 700 block of Vernon Street. The blockbuster deal to acquire the aging grocery store and adjacent parking lot along Baker Street cost the country store cooperative $3.57 million. The decision was made to tear down the old building and start fresh. In order to fund the ambitious new grocery store and retail space, the decision was made to add a 54-unit, three-storey residential component on top.
Deirdrie Lang, general manager of the Kootenay Co-op Country Store in Nelson, is proud of the store’s independence and its role as cornerstone of a town focused on community development.