By David Wiwchar

city pays 3x assessment

Buildings a big part of today’s council meeting

Jan 26, 2026 | 9:55 AM

A pair of uptown buildings will feature prominently at today’s city council meeting.

Last week, the city announced its purchase of the former post office building on Argyle Street for expanded office space.

The building was vacated by Canada Post in 2007 after worker safety concerns, and remained empty until 2014 when it was purchased for $300,000.

The 4-storey building is currently assessed at $1.1 million and the city purchased it for $3.4 million – triple the assessed value..

Outgoing CAO Mike Fox says it was a prudent purchase.

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“BC Assessment assesses certain criterias,” he said. “When an appraisal is done, that looks at fair market value for what the building has done and there has been a lot of modification upgrades to the building that do make it a fiscally responsible decision to purchase it at that price.”

Fox says the city has created a new position to manage the new building along with Clutesi Haven Marina and the Harbour Quay.

Also at today’s meeting, residents and business owners around lower Argyle plan to protest the city’s approval of a 6-storey supportive housing project.

The Uptown area taxpayers say they were ignored by council during the hearings and allege the project was already decided upon long before the city invited public participation.

Today’s city council meeting begins at 2pm