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Doors set to open on Nelson Commons residences as walk throughs begin

Timothy Schafer
By Timothy Schafer
August 28th, 2016

The city’s biggest new building in years is nearing completion of one of its major phases.

The Nelson Commons mixed-use project — which will also house the new Kootenay Co-op Store — being developed by Nelson Commons Limited Partnership has more than three quarters of its 54 condominium units sold, and some homeowners have begun the initial walk through this week, the precursor to taking possession and moving in.

The walk through allows the homeowner to view the suite they have purchased, note any deficiencies or desired changes, and get them corrected before they begin moving in.

The project managers had originally forecast a move-in date of July 2016 when work began early last year, but several logistical snags in construction — primarily concrete forming — put the schedule a bit behind.

But a big push on the three wood-framed residential floors — with the east wing of the building being pre-fabricated in the Lower Mainland and installed on site to speed up the process — has the homeowners now ready to receive their keys only one month behind schedule.

There is still much work to do in the grocery store, however. With the finished slab having just been poured in the Co-op store on the main level on the weekend, the framing of the different areas of the store will now happen, followed by installation of major equipment, finishing details and decorative touches, including Co-op offices, a commercial kitchen, restaurant, delivery area, staff rooms, washrooms and walk-in coolers.

“There are always challenges along the way and our ability to respond will determine as much as anything our actual opening date, but we are focused on opening this fall, and sooner rather than later,” said project co-manager Russell Precious in the Co-op’s spring/summer issue of On the Table.

The grocery store project is behind, but by how much Precious could not say.

The Nelson Commons consists of 47,000 square feet of residential space (54 condominium units) and 28,000 sq. ft. of retail and commercial space. The new Kootenay Co-op Store will occupy 20,000 sq. ft., with four to eight additional commercial spaces. Completion and occupancy are set for sometime this fall.

The Fisherman’s Market has said its interested to occupy one space on Hall Street.

Once the project is complete and all of the units are sold, the Co-op will no longer be responsible for any of the residential property management, nor for the upkeep of the residential portion of the building.

As of March 1, 40 of the 54 condos were sold or pending. The three-bedroom units are now sold out, but a few two-bedroom units are left.

The building contains three restricted resale units. The units receive a price reduction of 25 per cent below market list price. The restricted resale one-bedroom units are both sold, but the two-bedroom unit was still available.

The other commercial spaces will likewise form their own commercial strata, which will similarly be responsible for its common costs. The Co-op will not be part of the commercial strata.

The Co-op will maintain responsibility for the retail store, its exterior parking lot, its 12 stalls of underground parking and the Co-op community park, which began construction this week.

Even after the Co-op moves into its new quarters, it will still retain the old location at 295 Baker Street. With the lease on the Co-op’s current space set to expire in March 2016, an extension was proposed to smooth the transition to the new store, but it was denied by the landlord and a five-year renewal deal was struck instead.

The Co-op, however, has the right to sublet the space, “with several parties inquiring about sublet opportunities to occupy 295 Baker Street following our move.”

Further details of the Co-op’s current and future location will be revealed at an upcoming annual general meeting.

“We are currently preparing for our annual general meeting on Sept. 21 at the Adventure Hotel, and a late fall opening for our new store,” said Kootenay Co-op marketing and outreach manager Jaime Frederick.

The meeting will feature much more information about plans regarding the opening of the new location and the status of the Nelson Commons development, Frederick said.

Categories: Business

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