INNISFAIL – The Town of Innisfail moved another big step forward with the Napoleon Lake South residential project Wednesday with registration opening for next month's lot draw.
Innisfail's newest residential area has 40 detached dwelling, duplex and townhouse lots that will be offered through a public lot draw to be held April 10.
At council’s regular meeting on March 10, Meghan Jenkins, the town's director of community services, announced a project launch event for the public on Wednesday, March 19, at the Innisfail Library/Learning Centre, an event targeting builders and realtors to provide information and build awareness.
Jenkins’ presentation follows council’s unanimous approval on Feb. 18 for administration to issue a tender for the installation of the project’s required infrastructure.
Council was told on March 10 the tender for construction of project infrastructure will be posted by March 19 and close April 8.
Although the project’s final price tag won’t be known until after the tender process, the estimated cost is expected to be about $5 million and financed through the town’s Land Acquisition Reserve.
She said the town will be getting updated costing based on requirements from Alberta Transportation for upgrades to the Highway 54 and 42nd Street intersection.
She added a traffic impact assessment has indicated there may be requirements for increased lighting, as well as a northbound right turn lane that wasn’t included in initial cost estimates.
She told council members they will be asked to consider a motion on April 14 to approve the award of the infrastructure contract.
“Council does have the ability not to proceed when those tenders come back, if you decide the project is not viable or you don't want to move forward,” Jenkins told council on March 10. “That will be the final council decision that goes along with moving forward with the construction portion of the project.”
The planned 12-acre development on a vacant field south of Napoleon Lake, located near the intersection of 42nd St. and Highway 54, is earmarked to have 62 residential lots, an apartment site, and buildings on a 1.62 acre of commercial land.
The town believes the proposed housing types for the Napoleon Lake South residential project will support both older adults looking for bungalow homes, as well as more affordable ones for ownership and rental.
The proposed development is also considered essential for the future growth of the town as there is a critical shortage of housing of all types in Innisfail, despite attempts in the recent past, such as the westside Bella Vista development and along the northeast side of Dodd’s Lake.
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Jenkins told council on March 10 that marketing for the new subdivision will start with a lot draw that is scheduled for April 10 at the Innisfail Library/Learning Centre.
“The lot draw format has been identified to provide a fair and equitable process for purchasers and allows for an evaluation of demand prior to final approval of the construction tender,” Jenkins told council.
She said the lot draw requires pre-registration, a $5,000 deposit and in-person attendance at the lot draw for lot selection.
Following the lot draw, successful individuals will be required to enter into a purchase agreement by May 9, along with a 10 per cent deposit, said Jenkins.
She said the balance of the lot price will be payable by Nov. 30, with the purchaser required to complete construction of a home within 18 months of title transfer.
Jenkins said volume purchasers will be eligible for a five per cent discount on the purchase price.
“Essentially, any builder or individual can enter each category of lot draw once,” said Jenkins. “If you want to go into the townhouse lot draw you enter once. All the names in that category will be drawn. If you are interested in additional lots, you can then put your name in additional times.”
She said lots not selected during the lot draw process will be made available through direct purchase after May 9.
Jenkins said no lot price reductions will be considered unless new pricing is brought forward to council.
“Pricing has been set to ensure competitiveness with surrounding markets and strong sales,” said Jenkins. “The area is intended to provide a range of housing types including a smaller, more affordable product that is currently not available in the community.”
The lot prices for the new Napoleon Lake South subdivision are below:
• R1B (11 lots) – detached, front garage, approx. 52’ width and costing between $129,900 – $134,900;
• R2 (15 lots) – detached, no front garage, approx. 36’ width and costing between $101,900 – $104,900;
• R2 (10 lots) – side by side duplex, no front garage, approx. 25’ width per side and costing between $79,900 – $81,900, and
• R3 (26 lots) – townhome, no front garage, 6 – 7-unit parcels and costing between $65,900.
The municipality is promoting the westside development project through its involve.innisfail.ca website page, which identifies specific projects, provides regular updates and is designed to receive feedback.
Jenkins said the site will include Napoleon Lake South residential project lot pricing, design guidelines and promotion for the lot draw date.
