INNISFAIL – The town has chosen a new realtor to unload its last remaining residential lots.
On Feb. 12 Innisfail town council agreed to award a new listing of the remaining nine residential lots in the 42-lot Napoleon Meadows subdivision to Coldwell Banker Ontrack Realty.
Following the town's issuing of a request for quotation for real estate services, the Red Deer-based realty company was chosen over RE/MAX - The Blair Team, Century 21 All Stars Realty, and Royal LePage Network Realty.
Meghan Jenkins, community services director for the Town of Innisfail, said list prices for the nine lots will range from $103,000 to $127,000.
Jenkins added in her report to council that commission for each lot will average between $4,500 - $7,000, depending on “service provider.”
The move by the town follows council’s approval last month to approve a pair of Red Deer home builders to construct four new houses in the Napoleon Meadows subdivision at a total maximum cost to Innisfail taxpayers of $1.5 million.
The four homes, which are expected to have a list price of about $500,000, will be built by True-Line Homes and Larkaun Homes.
The town’s total estimated price tag of $1.5 million for the home building venture in Napoleon Meadows was approved in the 2024 Capital Budget.
For the first four years after Napoleon Meadows was created in 2014 the Town of Innisfail was handling marketing and sales for the subdivision.
Since early 2018, the town has retained the services of local realtors to handle lot sales in Napoleon Meadows.
When RE/MAX secured the file in 2018 there were still 23 lots available at Napoleon Meadows. There are now 13.
Since 2021 the Town of Innisfail has made available housing stock a top priority in the community’s strategic plan.
At council’s regular meeting on Jan. 8, council approved the 2024 Housing Action Plan, an initiative created to guide new housing strategies for the next two years.
There is also cautious optimism that shovels are planned to be in the ground for the town-approved first phase of the massive new residential development on the northeast side of Dodd’s Lake.
But when actual construction will begin has not yet been publicly released.
However, the town is also looking at other strategies, such as investing taxpayer’s money to have more homes built.
The town still has the 13 remaining lots in Napoleon Meadows to sell, including the nine that are being re-listed.
Mayor Jean Barclay said while the preference is to have the private sector handle the housing market the town can still play a role.
“If the town needs to get involved to provide housing to for the community, then I guess we need to take a look at that as well,” said Barclay.
