Regina City Council voted to make the Cook Residence a heritage property Monday night.

This comes after the current owners of the property put forward a plan to tear down the historic home and build a four-plex after the group says they noticed several millions of dollars of structural and foundation damage.

Mayor Michael Fougere said the cost of rehabilitation should be considered for those purchasing potential heritage properties.

“When you buy a property, it’s incumbent upon you to look and see what exactly is there, is it on the holding bylaw, is there some encumbrance on that property before you buy it, and you could buy it on the condition to remove it, or go forward in the way you want to,” Fougere said. “There’s ample opportunity to understand the implications of the holding bylaw.”

Fougere said the owner now has a limited options with the property.

“The city has felt that it’s a heritage property, and of course the provincial regulatory agency that reviewed it said there is heritage value to that property,” Fougere said. “Really, it’s up to the owner to do what he wants to do with it; he can sell it, leave it the way it is, or actually work to make it a better place to live.”

The current owners paid $625,000 for the property. Recently, philanthropist Lyn Goldman offered $650,000 for the property, but that offer was turned down.