New lot prices are proposed for the Erin Crescent subdivision in Fort Frances.
Town clerk Lisa Slomke says costs have been recalculated to address concerns initial pricing was too high and not competitive.
Lot development costs have also come in lower than expected.
“I wanted to note that there would be twelve lots that would start below $50,000, which I think is critical in a competitive market,” says Slomke.
Two different costing scenarios were put forward to members of the Planning and Development Executive Committee this week.
One, favoured by most members, sees lot prices range from $46,900 to a high $86,400 for one of the larger lots.
Slomke says they’re also looking at giving buyers the option of taking another two years to build.
“Our agreement of purchase and sale states five years, but we’re looking at ways to try and mitigate some of the extensive costs and some of the fear that people have of committing to such a large endeavour. says Slomke.
The final lot prices and the extension still need final council approval.
