The campaign to raise $1 million by April 15 to buy the old Savoy Hotel and turn it into low-cost housing, retail, and church space has a name: Square Foot to Freedom.
Pastor Jim Reimer of Kootenay Christian Fellowship says a website will launch this week at sqft2freedom.com, where people can buy a square foot of the building for $100 each or make smaller donations.
The church has offered to buy the building on Falls Street, vacant since a 2007 fire, but must demonstrate within two months that it has the wherewithal.
Reimer estimates it will probably take around $2 million to both acquire and renovate. They’d like to fundraise half and borrow the rest.
He doesn’t expect the goal can be achieved in Nelson alone, but hopes the campaign will generate interest well outside the area.
“We will use the web and social media like Facebook and Twitter to get a million people from B.C., Canada and the world to help raise a million dollars,” Reimer says. “We want this project to inspire people far and wide.”
Reimer says every $100 donation will be held in trust, so if the project stalls, the money can be returned or used for something else.
There’s a public meeting on the proposal tomorrow at 7 p.m. at Kootenay Christian Fellowship (812 Stanley Street).
“The community is invited to catch the vision of what we want to do and also ask questions and learn more,” Reimer says.
He notes at least one person has expressed concerns.
“That’s valid. If there are issues, we want them to come forward. How can we address it so it isn’t a concern?”
Reimer adds he’s received many offers of help, “which is what we need. People with different expertise, or with ideas about what can actually go in that building.”
He says they want it to be an economically viable community asset that generates revenue, yet doesn’t compete directly with other businesses.
The main floor could have a coffee shop, bookstore, and other retail outlets. The second floor would have up to 17 affordable housing units.
“This is our chance to address a major affordable housing need in the community and to make that end of Baker Street special,” Reimer says.
“We want this initiative to leave a lasting legacy and create an example for other communities to follow when it comes to meeting the challenges of low income rental property head on.”
The area used for Sunday church services would double as a community performing arts venue. The basement would become the new home of Our Daily Bread hot lunch program.
The building still needs to be rezoned for church use. It’s expected to go before city council on March 7.