The city has 37 lots for sale in the Crescent Acres neighbourhood. (Alison Sandstrom/paNOW Staff)

By Alison Sandstrom

New developments

P.A. further reduces Crescent Acres lot prices

May 11, 2021 | 1:01 PM

Prince Albert city council has further dropped the price of city-owned lots in the Crescent Acres neighborhood.

In February of 2020, council voted to reduce the price of city owned lots by approximately 13 per cent, or around $12,665 each in a bid to stimulate sluggish sales.

Unfortunately, as a report by the city’s department of planning and development explained, the wording of the price change was misunderstood by some members of council and the public as a 20 per cent drop and council subsequently approved offers representing that misunderstanding.

Formally knocking an additional seven per cent off the cost would ensure consistency with past city council decisions, the department said.

A chart compares with the newly approved 20 per cent discount with the previous 13 per cent discount and the original. (Council agenda package/City of P.A.)

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Councillor Blake Edwards and the majority of council liked the idea.

“I want to move these [lots],” Edwards told the meeting. “I want to sell some land and get some construction going. I don’t want to sit on these and hope that they’re going to sell 10 years down the road.”

The city currently has 37 lots for sale in the Crescent Acres neighbourhood.

Guidinger said after the city reduced the lot prices last year, it sold three properties—that’s up from zero in 2019.

“We had quite a few people inquire as well and I think that interest has kind of rolled into 2021,” Guidinger told paNOW. “We’ve got six or seven people who are seriously interested in purchasing a lot from the city, but they did want to get that assurance from city council that they would be reducing the prices by the full 20 per cent.”

A map shows city lots on offer in the Crescent Acres neighbourhood. (Council agenda package/City of P.A.)

Guidinger noted the city is currently working on the Crescent Acres Master Plan which will guide future development in the area.

“The thirty-seven or so lots do cost the city money to develop and there are holding cost associated,” Guidinger said. “So we want to get those all off the market and get construction happening and new homeowners in the area…then we can start looking at some of the next phases and what the future of Crescent Acres will look like.”

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alison.sandstrom@pattisonmedia.com

On Twitter: @alisandstrom