By Andrew de Souza

City sells half-million dollars’ worth of land

Apr 25, 2011 | 12:11 PM

The city has approved the sale of about 6.6 acres in the Crescent Acres neighbourhood to a private developer for $500,000.

Council approved the sale of land just north of Muzzy Drive to Dymterko Enterprise to develop into as many as 30 lots.

It’s part of the rapid pace of the development that the city is trying to keep up with by developing infrastructure for lots or, in this case, raw land.

“There’s such a huge demand for lots that we’re scurrying to get it done,” said the city’s director of economic development, Joan Corneil.

The sale marks the continuation of the development of the in the Crescent Acres neighbourhood.

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The city still has about 30 acres to develop in three more phases in the area. The next six will be a city-run development.

According to Corneil, it’s important to for the city to develop land on its own in order to ensure that the needs of the community and not just the market are met.

“The city has always played a role in the land development game,” she said. “That allows the city to make adjustments to the size of the lots to allow for affordable housing and creates equity in the market place because we look at fair market value for the land and that’s what we sell it for.”

The next stage the city expects to develop is in the West Hill, said Corneil.

There are more privately held plots of land, but the amenities and openness will allow for significant growth, she said.

adesouza@panow.com