Yellowknife’s YK1 school district has sold Nordic Arms, a 24-unit apartment building that it has operated since the 1970s, to the Northwest Territories Housing Corporation.
A motion to sell the building was passed at a meeting of YK1’s trustees in October, and the building on Franklin Avenue went up for sale in January.
Terry Brookes, chairperson of YK1’s board of trustees, told Cabin Radio via email that details about the sale are private. According to a post from YK1 about the sale, there were five bids for the property.
“NWT Housing Corporation had the best offer, including consideration for tenant relocation by providing assistance,” Brookes wrote.
“Although it’s not our place to say exactly what they plan on doing with the building, the housing corporation provides public housing, so the sale is a win-win for YK1, the NWT Housing Corporation, and the community.”
A spokesperson for the NWT Housing Corporation said it was “evaluating the use of this building to support the corporation’s programs and services delivery,” but could not provide more details at this time.
“Once this analysis is complete, if any current tenants are impacted, the NWTHC will work closely with these tenants and provide appropriate assistance.”
According to Brookes, about half of the tenants currently living in Nordic Arms are YK1 employees and half are other Yellowknife residents.
He said their tenancy is secured until the end of this school year or longer, and the housing corporation promised to provide tenants adequate time to find other housing as part of their bid.
YK1 will “not take an active part in finding housing for teachers and/or other tenants,” Brookes said.
“One of the reasons YK1 sold the building is that YK1 no longer wants to be a landlord and employer.”
In October, YK1 said in a request for realtors to help sell the building that “there are available rental properties in Yellowknife and there is no high demand for staff accommodations.”
The Nordic Arms building was built in 1971 and acquired by the school district in 1976.