YARMOUTH - Local businessman Mathieu Maltais has made an offer to purchase the former Yarmouth Consolidated Memorial High School on Parade Street, conditional on funding and the approval of a development agreement from the Town of Yarmouth.
He’s now in the process of gauging interest and collecting names for proposed new affordable seniors apartments in the renovated building.
The $4-million project would result in 53 units and the rent (tentatively set) at 865$/month would include heat and hot water. Each unit would include one bedroom, one bathroom, a fridge, an oven/range, hardwood flooring and LED lighting.
The facility would also include full wheelchair accessibility to all apartments. Three units would be specifically designed for tenants in a wheelchair. Laundry rooms would be available on each floor. An optional meal program would be offered for an extra fee. The gymnasium would remain as part of the facility. Pet access would be considered by cases, with limitations applied. A building superintendent would live on site and access to the building would be secure and monitored.
Maltais has an architect working on preliminary floor plans and plans on obtaining estimates, creating a budget and project plan then securing funding in future months, with some funds possibly through grants.
“This is all very preliminary,” he added. “Right now, we’re trying to build a list.”
Within 36 hours of posting an ad on Kijiji to measure interest of the development he received 20 emails.
The Yarmouth development would not duplicate the Academy in Annapolis Royal, where the former school there is being renovated into “choice condominiums.”
“Our community is missing apartments, not condos,” said Maltais. “These are going to have to be modest but that doesn’t mean they can’t be nice.”
He believes the possible development as being in the perfect location.
“It’s close to downtown, there’s parking on the property and you can walk to the mall. Everything’s right there.”
If the project moves ahead, the facility would tentatively be available for occupancy in early 2019.
The former high school went back on the market in September after the Town of Yarmouth and a potential purchaser, Somerled Properties, mutually agreed to terminate a purchase and sale agreement.
The building is listed for sale with The Real Estate Store for $374,900. The site says that in 2015 the property was assessed at $1,009,200.
The former school became the responsibility of the town in December 2014 after the Tri-County Regional School Board determined it was surplus to their needs. A new Yarmouth high school opened September 2012 on Forest Street.
Interested in an apartment?
Those who are interested in adding their name to the list for an apartment or learning more about this proposed development can email.