The townhouses on the north side of Park Lane are being completely redone this fall.
Owner John Bourdeau says he and his partner Kirk Adam bought the 21 townhouse units July 1, and the first 15 units will be ready to rent mid-September.
“We stripped these buildings right down to the bare bones and are rebuilding them,” Bourdeau said.
He says the units will have new roofs and flooring, new outside insulation and vinyl siding, new windows and doors, and new furnaces, hot water tanks, appliances and kitchens.
“I think it’s the social responsibility of the landlord to provide good, clean, affordable accommodations,” he said.
They’re doing 15 units this year and next spring will finish with the six-plex on the west side of the road, he said.
Bourdeau says they are working with the District of Houston to develop a plan for the appearance of the grounds, and are talking about putting two mini-parks on either side of the units.
“If its a family place, you need to have a place for the kids.
“We decided to buy this and do a real good job on it, basically adding 20 years to the buildings,” Bourdeau said.
He says they try to hire and buy materials locally as much as they can.
The ten-person labour force is all from Houston except for the site manager, and the roofing, electrical and plumbing work was all contracted locally, he said.
Living in Maple Ridge with a background in mining, engineering and real estate, Bourdeau says he and his partner own other property in the Lower Mainland as well, and this year they decided to start concentrating investment on the north.
“We studied the north and different opportunities quite a bit, and we found that the economic engine in Houston is very stable with the sawmills, the mine and the many small businesses around.
“We analyzed the economic engine, the stability of the area, and the diversity.
“We think that Houston is one of the better towns to invest in in the north,” said Bourdeau.
He says they are planning to invest more, and their goal is to do 100 units in the north in the next five years.
Asked if they are considering further investment in Houston, Bourdeau said it’s possible if the right deals come along.
“We don’t want to put all our eggs in one basket, but we’re looking for further opportunities here as well,” he said.