St. John’s looks to sell house, launch housing fund
City wants to be able to leverage provincial, federal dollars
St. John’s city council voted Monday night to pursue the possible sale of a home on Empire Avenue that is owned by the city.
Money raised through the sale of the four-bedroom property at 16 Empire Ave. would, according to Coun. Hope Jamieson, help advance the city’s new 10year affordable housing strategy, set to roll out later this year.
Council’s lead on housing, Jamieson said the property on Empire Avenue was acquired in the 1990s. The city was considering reconfiguring an intersection near the old Memorial Stadium. When it didn’t happen, the property was tacked onto the city’s housing portfolio.
The last property assessment, from January 2017, put the property’s value at $300,000.
There will be an updated appraisal, given the vote by council in support of a sale.
Jamieson said money raised from any sale would go into a new affordable housing strategy fund for St. John’s, as seen in other places in Canada.
The fund could be used to leverage more money from the provincial and federal governments in the future, she said, allowing the city to encourage affordable housing construction and improvements.
Jamieson told council there are two tenants in the Empire Avenue home, and they will be offered options and moved to a new home ahead of any sale.