Uncertainty for residents of central Edmonton affordable housing complex after property listed

Residents of a townhouse billed as affordable housing in Edmonton’s Riverdale neighbourhood say they don’t know what comes next after being told the building is up for sale.

Lylene Bell tells CityNews she’s lived in the central Edmonton townhouse complex, Riverdale Place, for 20 years. It’s run by HomeEd, a City of Edmonton-owned non-profit that provides affordable housing.

“We’re worried about it, we’re concerned,” said Bell. “I don’t know what we can do about it.”

The property has been listed on a real estate investment website. That means tenants on various incomes aren’t sure where they’ll have to go if the property is sold to a private developer.

Bell and other residents say the only thing they know so far is they’re staying put until the end of their leases. But if they’re forced to move, Bell says she may be forced to leave the neighbourhood she’s called home for two decades.

“It’s convenient; we’re close to downtown,” she said. “It doesn’t take us all that long to go to a grocery store. I have no idea where we’re going to end up. Is it going to be a good neighbourhood?”

The organization that operates the townhouse complex says the buildings are reaching the end of their useful life cycle, but that a sale could lead to investment in other affordable housing projects.

“It’s a very significant reinvestment expected well beyond what a normal reserve would be for a property that is being well-maintained,” explained Nick Lilley, the CEO of HomeEd. “We have to take stock of the view that if we did explore a sale, there may be proceeds that we can then use to reinvest to dramatically expand the supply of affordable housing.”

The councillor for the area, Anne Stevenson, says she’s hopeful no one will have to move if another non-profit buys the real estate.

“To the best of my knowledge, I know of at least two bids that have been submitted,” said Stevenson, the councillor for Ward O-day’min. “I know there’s strong interest in the non-profit sector and a commitment to keep these units non-profit, so I really hope that’s a solution that we can arrive at.”

But HomeEd wants tenants to know that even if the property is sold, they are legally allowed to stay until their leases are up. And they will work with tenants to find new affordable housing.