Proposed Twin Pine Hill condos in Yellowknife need zoning change
A picturesque hill overlooking Great Slave Lake may be the site of Yellowknife's next major housing development.
City council is now considering a proposal to build 126 condominium units atop Twin Pine Hill, near the intersection of Franklin Avenue and 44th Street in downtown Yellowknife. To go ahead with the project, the developer must get city council to approve a zoning change.
The 2.76 hectare site owned by the Det'on Cho Corporation, the corporate arm of the Yellowknives Dene First Nation, was once going to be the site of a hotel, casino and convention centre.
Now Det'on Cho has partnered with an Alberta developer, Arthur Cloutier, who is a former director of Northern Property REIT and its predecessor, Urbco.
Townhouse complexes
He's proposing to build 21 three-storey townhouse complexes on the site, with six three-bedroom units each.
"We're looking at site work and building this season here and occupancy by the end or early 2016."
He said that will depend on the city changing the zoning from site specific for the hotel and convention centre to residential medium density, and approving the project.
"It's very low-density, about 15 per cent of the site, with one of the best lake views in the city, with trees that totally surround the property once we're finished developing," he said.
The target market for the new development is young families, says Cloutier.
The developers told city hall they anticipate the units will range in price from around $330,000 to $380,000.
