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CBC
a day ago
- Business
- CBC
Low-income tenants fight sale of affordable Edmonton townhouses
Tenants who live in affordable housing townhouses in a neighbourhood near downtown Edmonton are fighting the sale of their homes by their non-profit provider HomeEd. HomeEd, which is owned by the City of Edmonton, listed the 20 Riverdale Place townhouses for sale in the spring. The two- and three-bedroom townhouses are located in three separate blocks in what the listing describes as the "historic and highly sought-after neighbourhood" of Riverdale. The listing calls the properties an "investment sale opportunity" that can be purchased individually or collectively. No price is listed. Townhouse residents said they were shocked when a neighbour told them about the listing last month. "I actually was kind of woozy," resident Blair Barton said. "I felt like I was going to pass out because it was such big, such big news." His neighbour Ashley Ciesla got the news at the same time. "I definitely felt panic. I felt insecurity," Ciesla said. "It felt like everything that I've been working for the last six years just came crumbling down on me." The residents are speaking out about the issue, meeting with elected officials and the provider HomeEd, and working with the community league, in hopes that they can stay in their homes. 'Five leaps forward' Edmonton city councillors gave HomeEd permission to list the properties for sale during an in-camera meeting in April. In an interview with CBC News, HomeEd's CEO Nick Lilley said it could cost too much to update the 20 townhouses, as they are nearly 50 years old and approaching the end of their lifespan. Lilley said proceeds from a sale will be used to build newer affordable units that can house more people. "While that may feel a bit like a step backwards, that type of approach is also one where we can potentially take four or five major leaps forward when it comes to advancing affordable housing in this city," he said. The Riverdale properties have been listed without a selling price. Lilley said HomeEd wants to send a signal that they are open to reviewing offers from both non-profit and for-profit organizations. If a sale forces the Riverdale tenants to move, Lilley said HomeEd will tell them what options exist for other affordable rental units, but noted the properties are "first come, first served." "The prioritization within our team would be to ensure that they are aware of any opportunities that are available and supporting them through that process as best as we can," he said. Putting down roots Barton has lived in his unit since 2017. The former Canadian Forces member receives disability benefits from both the provincial and federal governments. Ciesla receives benefits under the Alberta Income for the Severely Handicapped (AISH) program due to multiple disabilities that resulted from severe nerve damage in her body. She lives with her six-year-old son in their townhouse. The child's father died five months before he was born. Ciesla said she put down roots in Riverdale after moving to the community last year. She works for the school lunch program and volunteers in the community. The townhouse move came after years of instability. Now, she worries about the future. "I would love to continue to help the neighbourhood and be a part of it," Ciesla said. Riverdale is seen as a desirable neighbourhood due to its central location and access to the river valley. Barton, who sits on the board of the Riverdale community league, worries he will have to leave a community that provides him with peace and a sense of belonging. "I often say Riverdale is the island in the stream of chaos that's Edmonton," Barton said. "Soon as you walk down those stairs, you feel this decompression." The community league plans to discuss the issue to its next meeting in early September. Anne Stevenson, the Edmonton city councillor for Ward O-day'min, which includes Riverdale, did not support HomeEd's request to put the properties on the open market. "I think it's the wrong direction not only for the individuals living in this development, but also for the city as a whole," she said. The city's goal is for each neighbourhood to have 16 per cent affordable housing units. Stevenson said Riverdale sits at six per cent right now. "Losing existing non-market housing in the neighbourhood doesn't make sense in terms of our overall strategies." Possible non-profit interest Stevenson worked in the affordable housing sector before becoming a city councillor four years ago. She said rehousing tenants was a basic obligation if they had to be moved due to renovations or removal of a unit. Stevenson has heard that two non-profit organizations are interested in putting in an offer for the townhouses. She said a purchase that maintains affordable housing on the property is the best-case scenario. The issue has also gotten the attention of Janis Irwin, MLA for the area, and the NDP Opposition critic for housing. Irwin worries about a worst-case scenario where the land is purchased by a private developer who then demolishes the townhouses to make room for large expensive homes. "I think it does raise a lot of questions at a time when affordable housing is at a premium in our city," Irwin said. "We all need to be doing all we can to ensure that there are more affordable housing units. And most definitely, the affordable housing units that exist stay and stay as long as they're needed." The Riverdale tenants said they will keep up the fight to ensure they can keep their homes. They don't want to be forced out of an area where they feel a part of the community. Ashley Ciesla said her quality of life improved when she moved to Riverdale.
News.com.au
a day ago
- Business
- News.com.au
East Geelong house nets $180k gain in quick sale
Sellers have turned a sizeable profit on a double-fronted Victorian-era house in East Geelong they'd owned for a little over a year. The 353sq m property at 21 Thorne St, East Geelong, sold for $1.08m at Saturday's auction. Jellis Craig Geelong agent Marcus Falconer said two bidders contested the property at the auction, with a professional couple walking away with the contracts. The character residence last sold in late 2023 for $900,000, had been listed for sale with a $1.28m to $1.32m price guide. Wallpaper 'groupie' unveils grand Newtown makeover Mr Falconer said the owners had updated the kitchen in the three-bedroom house, but the uptick in value was also a sign of an improving market. East Geelong's property market has been among the most impacted by the downturn after the pandemic boom, with a 15.8 per cent drop in median house price over three years to $788,750, according to new PropTrack data. But in the past 12 months, the suburb's median house price has climbed 2.4 per cent, or close to $20,000 in a sign that the market is improving. Mr Falconer said the buyers had already relocated to Geelong and had experienced the area. 'They have been renting for a couple of years, just trying out the area,' Mr Falconer said. 'They're a professional couple who relocated to town and the access to the botanical gardens and the waterfront was probably one of the key drivers in the village, just from a lifestyle perspective.' The character home is located within the suburb's Golden Triangle, with city fringe benefits such as walking access to the East Geelong village, the botanic gardens, Eastern Beach and the CBD. The restored heritage facade featured a bullnose veranda and tessellated tiles, with a renovation creating an open-plan living zone and previously updating the bathroom. 'Basically this owner has just updated the kitchen and put their own spin on it,' Mr Falconer said. 'The previous owner had only bought it about a year ago and sold it for a profit. 'It's a sign of how well the market is going.' The Shaker-style kitchen has a classic farmhouse butlers sink, English tapware, an Asko oven and American oak benchtops. The house has timber plantation shutters to filter light and offer privacy in the main rooms. The sitting room contains built-in cupboards and bookshelves, a steel-grate fireplace, polished timber floors and period trimmings.
Irish Times
18-06-2025
- Business
- Irish Times
Merrion Square Georgian with full vacant possession guiding at €4m
Developers, investors, and owner-occupiers may be interested in the opportunity presented by the sale of number 36 Merrion Square in Dublin city centre . The property, on the east side of the square, comprises a midterrace, four-storey over-basement Georgian building of 732sq m (7,879sq ft). While full vacant possession will be available from August, the property is being offered to the market now through agent Knight Frank at a guide price of €4 million. VAT is not applicable to the sale, according to the selling agent. Number 36, built in 1790 as part of the original development of the 18th-century square, is a traditional Georgian build comprising brick and masonry construction with brick facade, timber sash windows throughout and a pitched slate roof. Internally, the original period features have been retained to a high standard and include ceiling roses and ornate cornicing. Merrion Square remains one of the most sought-after locations in Dublin city centre, particularly for small to medium-sized firms engaged in the provision of professional services. While number 36 has been in office use for many years, it has clear potential for conversion back to its original use as a residential property subject to planning permission. The square is near St Stephen's Green, Grafton Street, Trinity College, Government Buildings, the National Gallery of Ireland, and the five-star Merrion Hotel. Nearby corporate occupiers include SMBC Aviation Capital, leading law firm Addleshaw Goddard, the ESB, and the Department of Health.
