A call for applications from developers interested in creating housing projects in Borden-Carleton, P.E.I., has been met with great response.
There are plenty of jobs in the area but a shortage of housing, which makes the jobs difficult to fill, so municipal officials called for proposals for housing developments on three town-owned lots. In return, the town is offering developers a five-year rebate on municipal taxes.
"Council thought it was fantastic. We didn't know going in this process, and we're really pleased with the response," said James Wentzell, CAO for the town of Borden-Carleton.
"The meetings with the developers were very positive. They seemed very positive."
The opportunity here is going to be profitable for developers. — James Wentzell
One of the properties is the old school property that overlooks the harbour — three quarters of a hectare with what Wentzell calls a "million-dollar view" of the water and Confederation Bridge.
"Anybody would want to live there," he said.
The other two lots are across Read Road from the current elementary school.
'Only the start'
Wentzell said six proposals, with a mix of housing including townhouses, apartments and duplexes, were submitted for each of the properties. Council then reviewed and short-listed their favourite proposals.
Council is currently in negotiations with three of the developers for sale and purchase agreements. The land will be sold for market value.
"The opportunity here is going to be profitable for developers, because it's going to be a growing community," Wentzell said. "To me, Borden is the next development gem for the province."
Wentzell said the public can attend meetings that are part of the planning process.
He is hoping that if everything gets the green light, some of the construction will begin this fall. The projects will be completed in phases over two to three years, he said.
"We believe this is only the start," Wentzell added.
He said the real estate market in the town is so hot, most homes are sold the same day they are listed.
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