Despite two-year long $3-million renovation, owner has no current plans for prominent Lower Gibsons landmark. A place for seniors?
By Margot Grant
“What am I going to do with the building? Eh … that’s a good question,” says the owner of the former Ritz Inn. “But I don’t think the project will be used for workers at different construction projects around town, like The George.”
The owner does not want to be identified. He lives in a condo in Vancouver’s Kitsilano neighbourhood and has a 30-year history in Gibsons. Among other properties, he owns SeaView Place, which houses the Salvation Army, Panago Pizza and the Friendly Thai Restaurant, as well as the former medical complex on Gibsons Way across from the high school, which is the home of H&R Block and Elite Travel. In addition, he owns a large lot on Hillcrest and another on School Road.
He bought the former Ritz Inn two years ago for $2,023,000. “I had no plans for it, but I thought it was a perfect location, opposite the public market and close to The George. And now there is the new Mexican restaurant, as well.”
He says he has spent $3 million on renovations, putting in elevators, patios and decks, and a new bathroom and kitchen in every suite. The work should be finished in two or three months.
“I could make it into a place for seniors,” he says. “I took out a couple of suites downstairs to create a large social room. They would be guaranteed to see friends, live in a place where they are not lonely. We could cater brunches. It would be a place between Marina Place next door, where everyone lives completely on their own, and Christensen Village, which provides care.”
He might rent to younger people as well, creating a mixed population or, if a buyer knocks on the door, he could sell the building as a hotel. He is not sure, but likes the idea of a place for seniors.
However, after spending $5 million, this would not be affordable housing. “I believe Lower Gibsons should be an area for more well-to-do residents and tourists,” he says. “They spend money which keeps businesses afloat and keeps people employed. The workers should have good, affordable accommodation in Upper Gibsons.”
He says he has built hundreds of rental units during his career, and still rents out 13 apartments in SeaView Place.
“I would like to build 60 affordable rental suites on my lot at Hillcrest, but frankly, I’m not sure how affordable they would be. Say they cost $250,000 each to build, I would lose money if I rented them out at $800 a month, even if I wanted only a very small profit. But building costs have gone up almost 50 per cent in the past five years and there is a shortage of tradespeople, so by the time I could build, they would probably cost more.”
He thinks he will make up his mind about the Ritz within three months.
I find the idea that “the workers” should be segregated from “the well-to-do and tourists” offensive. Also, the idea that ordinary working people, as opposed to “tourists” and the rich, aren’t supporting local businesses is not true. We support local businesses that sell the things we need. There are more of us than there are tourists and affluent people, so yet another fancy boutique is not what the local economy needs.