Borealis Development will be turning the formerly vacant Bellanca building on 50 Street in a 72-unit apartment complex with two commercial units on the main floor.
“The Bellanca building has been vacant for the past decade,” said Borealis Development co-founder Afzal Suri. “It is an unutilized asset in the centre of the downtown core… Housing has always been a core issue in Yellowknife. I am sure everyone knows of someone who has struggled with housing. It seems like an obvious choice to convert this unoccupied office building to a home for 72 different households all while aligning development goals set by the city — to revitalize the downtown core and make it a vibrant and active space.”
According to plans submitted to the City of Yellowknife, the building will have 19 parking stalls, plus one accessible parking stall and “three stalls at rear would be dedicated to car share.”
The floors will be 532 square-metres in area, with a split between one-bedroom and two-bedrooms units. The floor plans label proposed units A to H, which suggests that there will be eight housing units on each of the floors.
Shared laundry, basement storage, and a gym area were also suggested in the floor plan.
“Proposed development aims to promote (the) sustainability principle of live-work-play, lessening the dependency on vehicular transportation and encouraging walking/biking,” reads a note from the architect. “(The) building is conveniently located in the middle of downtown and has access to daily amenities a short walk away.”
According to A CBC report, Borealis Development acquired the building from former owners KingSett Capital in March for $1.4 million.
When asked questions regarding the cost of units or estimated cost of renovation for the Bellanca building, Suri replied, “No comment.”