The Kootenay Co-Op is giving the strongest assurance yet that their ambitious $26-million Nelson Commons redevelopment project will get off the ground …and soon.
There have been rumblings of impatience or concerns about financial viability from some members.
But the target of 34 pre-sales has now effectively been reached and board member Leon Piggot appeared to satisfy any detractors during his financial presentation at a packed AGM this week.
Citing full transparency Piggot showed all the numbers on how the Co-Op will borrow and pay back the millions in mortgage and private loans and how -if all 54 units sell – they’ve turn a tidy profit.
