Monday, January 05, 2015

Old Free Press Building Assessment

Assessed Value in 2013 - $482,000
Assessed Value in 2014 - $1,592,000

While the above picture from the BC Assessment data base does not show the Free Press building, which is now the home of Real Estate Webmasters and REWsters restaurant it does reflect the increase of value to that property as a result of the extensive renovation.

This renovation is arguably the most valuable project undertaken downtown in a great long time. It added one full floor and completely renovated what had become another empty box downtown. In addition to what the renovated building adds to the downtown, it also moved about 100 good-paying jobs into our struggling downtown.

Due to the heritage value of this building I believe the current owner has qualified for some forms of tax relief available through the city.

A picture of the building actually at 223 Commercial Street:


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