Resale profits already included in the $ 1 million cost to move a tiny house
LONDON, ONT. – There may be no escape from the financial pit that taxpayers face at 100 Stanley Street.
In February, city engineers admitted the cost of moving the heritage-listed cottage across the street had doubled to between $ 900,000 and $ 1.1 million.
A new note to city council reveals that selling the home at its new address on Evergreen Avenue will not further offset the seven-figure moving costs.
City Engineer Kelly Scherr writes, âThis estimate ($ 900,000 to $ 1.1 million) includes estimated revenues from the sale of the relocated building.
The EA for the widening of Wharncliffe Road north of Horton requires the heritage listed home to be moved across the road.
Not recovering more than the seven-figure relocation when the house is sold is a disappointment for civic work committee chair Elizabeth Peloza.
âThis is an inflated number from what we were already expecting,â said Councilor Peloza. âStaff said that number could be firmed up as we move forward. Many of them are utility costs.
Heritage advocates who fought to save the house are struggling to swallow the estimates.
âI’m stunned, I’m speechless,â says Kelley McKeating, president of the London chapter of the Architectural Conservancy of Ontario.
McKeating wonders how moving a tiny house across the street could cost seven figures.
“I am skeptical of the accuracy of the cost estimates that are being thrown out there.”
In 2020, the city bought the property for $ 500,000 from Nan Finlayson, ending its high-profile battle to stay in its heritage home.
Scherr’s memo explains that the higher than expected cost to move the yellow brick house is related to the utility move.
These costs will be further refined.
If council requests a demolition permit instead, it could take a year to amend the environmental assessment.
The delay could add 2-3% inflation to the $ 38 million highway widening project, with no guarantee the province would grant the change.
“The certainty of the cost to move the house and move the project forward is $ 900,000 to $ 1.1 million, if we wait a year it is potentially going to be double.” Peloza warns.
The original cost estimate to move the house was half a million dollars.
Setting a seven-figure price and with one less option to offset those costs, Peloza said the council would decide how to proceed on Tuesday.
âI don’t want to spend this money either. I recognize his tax dollars, and this doesn’t seem like the best use.