The Kamloops City Council recessed their regular session to hold the Annual General Meeting (AGM) of the Community Land Trust Foundation, where members received detailed updates on a landmark affordable housing project and the foundation’s broader strategic plans.
Major Affordable Housing Project Moves Forward
The highlight of the AGM was a comprehensive presentation by Community Land Trust Chair Colin O’Leary, accompanied by Manager Freeman, outlining progress on the 377 Tranquille Road development (former Northbridge Hotel), a mixed-use building selected for funding under the BC Builds Program.
The project, approved by Council in August 2024, is set to transform a former hotel site into a six-story building featuring commercial space on the ground floor and 88 residential units above. The housing mix includes 30 studios, 25 one-bedroom, 10 two-bedroom, and 23 three-bedroom units, with rents ranging from $1,350 to $2,650 per month. Importantly, 20% of the units—approximately 17—will be offered at 20% below market rates, aligning with BC Builds’ focus on middle-income households. This means studio units could be rented for around $1,080, and three-bedroom units for about $2,121 monthly.
With a total project budget of $28.6 million, the plan awaits final approval from the Deputy Minister of Finance in December, aiming to start construction by early 2026 and open for occupancy in fall 2027. Notably, the budget includes reimbursement for the city’s prior demolition costs of approximately $2.7 million.
Bylaw Amendments to Protect Long-Term Rental Housing
Council approved minor but critical amendments to the Community Land Trust’s constitution and bylaws. These amendments ensure all board director positions remain volunteer roles, prohibit remuneration to protect funding eligibility, and stipulate that if the society is dissolved, its assets must transfer to a similar organization rather than revert to the city. This safeguards the project’s ongoing purpose of preserving affordable rental housing, preventing potential conversion to market condominiums.
Strengthening Governance and Strategic Foundations
Chair Colin O’Leary detailed the foundation’s efforts over the past year to build a strong organizational base. Highlights include:
- Establishing a governance framework with appointed executive officers and board training.
- Developing comprehensive board policy and operational manuals.
- Crafting a three-year strategic plan focused on governance excellence, portfolio development, and community engagement.
- Participating in national land trust summits and engaging with housing experts.
O’Leary emphasized the foundation’s mission to “create a legacy of housing opportunities for low to moderate income residents” and highlighted core values of accountability, diversity, effectiveness, and courage in pioneering innovative housing solutions.
Looking Ahead: Expansion and Advocacy
The foundation plans to finalize the 377 Tranquille development while transitioning from a working board to a governance-focused board, including hiring an executive director. A real property acquisition plan will guide future land purchases, prioritizing community needs and maximizing social impact.
On advocacy, the foundation continues efforts to influence federal tax policies that affect affordable housing. Ongoing collaborations with the Kamloops District Chamber of Commerce, support from national organizations like Viva On Field, and upcoming meetings with federal policymakers aim to strengthen these initiatives.
Council Feedback and Community Confidence
Council members expressed support and posed questions, seeking clarity on project finances, property valuations, and security costs associated with the site. Councillor Sarai emphasized the importance of dispelling misinformation, noting that the foundation’s work has turned a previously blighted area into a promising housing corridor, with projects addressing social challenges and providing much-needed housing.
Councillor Bepple inquired about future land acquisitions, with O’Leary confirming an open but rigorous evaluation process aimed at maximizing community benefit.
Throughout the session, Mayor Hamer-Jackson and council members commended the foundation for its transparency, progress, and innovative approach to housing in Kamloops.
A Model for the Future
The Community Land Trust Foundation’s work represents a bold and collaborative model for affordable housing development in Kamloops. As Chair O’Leary remarked, “This is an investment the citizens of Kamloops should be proud of — a lasting legacy and public asset that will serve real needs for years to come.”
