Faro's abandoned homes have all been sold

The Town of Faro in Yukon has no more empty and abandoned homes for sale.

The town acquired dozens of abandoned properties about three years ago, many of them apartment complexes with multiple housing units. They had been sitting vacant since the closure of Faro's massive lead-zinc mine, 20 years earlier.

Now the town has sold 45 properties. Ten others weren't sold, as the town deemed them to be beyond repair.

"I would say without hesitation that the town of Faro is one of the most beautiful rural communities in the Yukon," said John Thomas, chief administrative officer for the town.

Thomas said people are moving to Faro and embracing the local lifestyle, with its picturesque views of the Pelly River valley.

The vacant properties were once considered an eyesore in town. But now Thomas said people that have bought homes have renovated them.

"A lot of the abandoned properties, from an exterior perspective, had overgrown vegetation in front of them or around them. And as a result of this program we have seen a tremendous improvement in the maintenance of the upkeeping of the exterior," he said.

"So a lot of those buildings have new siding, new roofs put on, and that was built in as part of the project — the program for the sale of the abandoned housing."

When the properties first hit the market in 2017, the town had stipulations for the low selling prices. There was a requirement that the properties needed to be renovated or demolished within three years of purchase, and for those who didn't renovate, homeowners would get money-back incentives.

Homes were priced for what was owed to the town in property taxes. The price tag at the time was anywhere from $10,000 to $100,000 per lot.

Faro's population has grown since then. As of June, the population was at 419 people. The Yukon Bureau of Statistics states 35 per cent of the residents are over 60 years old.

Thomas said Faro has a lot of seniors programs, and people are well-served.