The City of Prince Albert currently has 38 vacant lots on the market in Crescent Acres in the East of the city (Alison Sandstrom/paNOW Staff)

By Alison Sandstrom

Slow growth

P.A. considers reducing lot prices to stimulate sales

Feb 13, 2020 | 3:14 PM

As the construction recession continues to hit P.A., city council is considering reducing lot prices in a bid to boost sales.

The city currently has 38 vacant lots for sale in Crescent Acres, with another 77 ready to bring onto the market. None were sold last year.

Director of Planning and Development Craig Guidinger said holding onto the lots is costing the taxpayer money.

“As soon as we can get those lots sold and houses built and taxes paid, [that] certainly is a benefit to us,” he told council during Monday night’s executive meeting.

A map shows the lots being offered for sale in the development.(Council Agenda Package/City of P.A.)

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The proposed changes would see the cost of city-owned lots in Crescent Acres fall by approximately $12,665, meaning a piece of land in the development would cost between $85,235-$107,235.

The new prices would be on par with privately developed lots in Prince Albert.

Vice President of the P.A. Construction Association Dan Yungwirth welcomed the proposed change, but said the effect on sales would likely be limited.

“It still doesn’t address the main issue that we have here and that’s economic development that needs to happen,” he told paNOW. “If people don’t have the jobs and people aren’t moving here to fill jobs then you don’t have the movement in the housing market.”

Yungwirth said he was encouraged by new initiatives aimed at creating growth like the recently formed Prince Albert Regional Economic Development Association (PAREDA).

Prince Albert city council is set to give the proposed reduced prices final concent at the next city council meeting on Feb. 24.

A graph shows lots sale in Crescent Acres over the past 5 years, in 2017 and 2016 the city reduced the prices. There were no sales in 2019.(Council Agenda Package/City of P.A.)

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alison.sandstrom@jpbg.ca

On Twitter: @alisandstrom