The local legion has found a buyer for the Legion Tower, a 89-unit apartment building.
Members of Branch 88 of the Royal Canadian Legion voted last March to sell the building, which is on 224th Street just north of Brown Avenue, one of several residential buildings owned by the branch.
On Friday, the branch executive announced that they had found a buyer, whom they describe as "a reputable, well-established company."
The legion wanted to make sure that the buyer would allow the tenants to be secure in their homes "well into the future," said Branch 88 past president Jim MacDonald in a statement.
That is the key to the deal, MacDonald said, and the company that is purchasing the Legion Tower was willing to do it "on our terms."
"There will be no major changes, drastic rent increases or evictions when the property changes hands," he added.
"However the building may be subject to the same controlled rent increases that every other rental facility in the province must face."