The City of Sault Ste. Marie has finally found a buyer for the land where The Dime Nightclub (also known as Studio 10) caught fire just before midnight on Feb. 11, 2019.
City councillors will learn next week that the now-vacant property on Hudson St. is to be sold to a developer named Raising the Roof Chez Toit.
“I’m happy to report that the city is selling the Studio 10 property at 89 Hudson St. for $350,000, which you may recall is what was paid for it a number of years ago,” says Mayor Matthew Shoemaker.
“There is going to be quite a development on that site,” Shoemaker said on a social media post.
“Eighty units, half of them affordable. They’re paying full price for the property back, plus a commitment on the development timeframe for those units.
“So that will be a good news story in terms of housing stats …. as well as the number of affordable units that will be developed, as well as the amount of money that will be coming back to the city.
“So a win, win, win there for sure. And there are a couple of other [nearby] properties that are also being sold that we’ll see units developed on them,” the mayor said.
When it was destroyed by fire seven years, the Dime/Studio 10 was Sault Ste. Marie’s only adult entertainment venue.
A 60-year-old male was transported from the fire scene to hospital with associated injuries.
He later succumbed to those injuries.
Last September, Sault Ste. Marie city council approved an access-to-land program intended to make underutilized, surplus city-owned properties available for purchase by developers willing to commit to delivering new housing within a defined timeline.
City staff were authorized to make recommendations for council to identify city-owned properties with residential development potential.
Council then declared 89 Hudson to be surplus to the city’s needs, authorizing its sale.
A formal appraisal was prepared by Thomas Campana from Shields Appraisals and Consulting Ltd.
A call for submissions was issued and two offers were received, one from Raising the Roof Chez Toit and the other from a partnership comprised of ISNIZE Living Developments Ltd. and Missanabie Cree Business Corp.
Raising the Roof indicated it would retain additional project partners for this project: GLM Homes and Community Builders, for this project.
“While the lead proponent does not appear to have completed a project of this scale previously, the submission includes a multidisciplinary team with considerable experience with larger residential projects,” city staff said in a report prepared fpr Monday’s council meeting.
“Raising the Roof proposes the development of an 80-unit, five-storey, purpose-built rental residential building containing a mix of affordable and market-rate housing,” the report said.
“While the submission does not specify a detailed unit mix by bedroom count, it does indicate that the development will primarily consist of one- and two-bedroom units.
“The proposal also includes a commercial building on the C1-zoned portion of the property, in the general location of the former bar/hotel.”
A conceptual site plan submitted to the city showed 86 parking spaces to be shared between the residential and commercial uses, with access from Hudson Street only.
“The site plan also includes amenity space, snow storage areas, and shows that the configuration can accommodate parabus access. While the proposal does not maximize overall site density, staff note that the concept appears feasible and generally compatible with the neighbourhood, including nearby R4-zoned development.
“The submission also proposes the use of panelized modular construction with off-site fabrication, together in partnership with community builders to support workforce training and social enterprise opportunities,” the report said.
“This submission includes a significant affordability commitment, with 50 per cent of units proposed as affordable for a period of 40 years. The affordability benchmark it identified as 80 per cent of average market rent, which surpasses the city’s affordability requirement.”
“Based on the evaluation criteria and scoring, staff have determined that the Raising the Roof submission is stronger overall, and staff recommend that council accept their offer.”
“Overall, this submission appears to be achievable, low risk, and in line with city affordability objectives. The submission meets the city’s development timelines in the call for submissions and does not request any extensions. Staff consider this proposal to be close to construction readiness, with few anticipated planning and regulatory concerns,” the staff report said.
Monday’s city council meeting will be live-streamed on SooToday starting at 5 p.m.
