A concept drawing of the arena and aquatics centre being constructed at the south side of the City. (Submitted photo/City of Prince Albert)

By Susan McNeil

Development in The Yard

Three-quarters of Yard District lots sold, says city

Nov 29, 2022 | 9:00 AM

As city council finished rezoning four parcels of land in The Yard District next to the new pool and hockey arena build, one councillor also took some time to clarify financing around the whole build site.

Counc. Blake Edwards asked staff for an update on the 15 commercial lots for sale in the area along with an example of how much tax revenue would be raised.

“When it comes to one year since they announced and it’s 75 per cent sold out, it seems like not only was this a want in the community, this was a need in the community to have a development like this,” said Edwards.

He said he is looking forward to some of the official sites that will be added to the business community in Prince Albert.

With the addition of the $30 million the city needed to borrow after bids came in significantly higher than budgeted, the finance department said they are now at $120 million in overall debt.

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On Monday, council approved the rezoning of four of the lots right next to Highway 3 for commercial use. A hotel is already under construction on one lot.

Ramona Fauchoux, the city’s finance director, gave an example of the tax revenue from four sample developments.

A hotel would generate $230,000 in the municipal portion of tax revenue, a car dealership about $180,000, one fast food franchise would pay the city $50,000 annually and a strip mall would create $90,000 in tax benefit.

For the second time, council also addressed the price difference between what it paid for its 24-acre portion of The Yard compared to a similar parcel in the RM of Prince Albert a short distance away.

The lot in question is being compared by some members of the public to the second parcel which is farmland with no services.

Craig Guidinger, Director of Planning, said the city’s purchase comes with the developer having the land cleared, lighting, services such as water, storm and sanitary sewer, curbs, sidewalks, relocating a power line, widening of Marquis Road and Highway 3, two fully lit intersections along with SaskEnergy and Shaw Cable installation.

When the development levies are added, he said it was a good deal.

“That equates to in excess of a million dollars. So an additional $45,000 or so for every acre that gets developed out there so we got a lot for what we paid,” Guidinger told council.

Concerns over the difference in the price of the two same-sized lots have been raised several times by local realtor Jesse Honch.

Both 24-acre parcels were owned by the same land developer but the parcel on Highway 2 sold for $325,000 to the Rural Municipality of Prince Albert, while the one on Highway 3, sold for $9 million to the City.

Edwards said he will be making the inquiry into the matter a formal one so that there can be a public record that the two parcels are not the same

“The public really needs to know the truth. They really need to know the truth because that is not what is being talked about in a small circle,” he said.

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susan.mcneil@pattisonmedia.com