TIMMINS - As renovations move forward to transform a former hotel into seniors’ housing, new details have emerged about the full cost of the property acquisition.
Several agenda items at the March 20 Cochrane District Social Services Board meeting focused on 1800 Riverside Dr. There was an update on renovations and a value comparison of the price tag of the purchase of the Ramada Inn and neighbouring properties versus other housing projects.
The Ramada hotel deal went through in December and saw the CDSB pay $11 million for the building and chattels, which are furnishings and other items not permanently part of the building.
Provincial land registry documents show the CDSB also purchased two properties to the north of the hotel for $225,000 each for a total of $450,000. That brings the entire acquisition to $11.45 million.
At least $1.25 million in renovations are needed to install an elevator, upgrade the kitchen, and make other minor building improvements.
SEE: Former Timmins hotel could be turned into seniors' housing
Lindsay Cumming, CDSB’s director of housing, said the transformation of the former hotel will create a modern, accessible living space that meets community needs.
“With designs underway and construction set to begin later this year, we are taking critical steps to enhance infrastructure, accessibility, and long-term functionality,” she said.
“This project will not only create an inclusive living environment, but also strengthen community services for years to come.”
The building was bought for a Homelessness and Addiction Recovery Treatment (HART) Hub. Funding failed to come through for that, and CDSB is moving forward with plans to develop the building into seniors’ housing.
The board is working with G Architects, Quasar Consulting, and other specialized consultants for the renovations.
CDSB staff has a site plan meeting with the architect today (March 24), said CAO Brian Marks.
“This will help us table the report at the April meeting on how we're going to phase in occupancy while renovations are taking place,” he said.
Jean Carriere, CDSB's director of health, outlined four key renovation projects and their timelines in the report:
- Installation of a new elevator – Construction is scheduled from July to January 2026.
- Kitchen renovation – Construction is planned between August and December 2025.
- Conversion of hotel rooms into accessible residential units – Construction is expected between August and November 2025.
- Concept design for interior refresh of common spaces – Design work is ongoing and set to conclude by May 2025.
The CDSB also broke down its costs for redeveloping the building compared to other projects in the region.
Purchased in December 2024, the 60,000-square-foot facility includes over 100 rooms, a kitchen, meeting spaces, and a ballroom.
After renovations, the total estimated cost per square foot will be approximately $250, translating to around $143,000 per unit, which, according to the report, is significantly lower than other housing projects.
For comparison, the Cadence project in Cochrane is expected to cost $375 per square foot, or $322,000 per unit, while Sterling Avenue in Timmins is estimated at $560 per square foot, or $437,500 per unit.
The report also noted that repurposing the existing structure at 1800 Riverside Dr. presents a more economical option than building new housing from the ground up.