By Scott Roblin

New subdivision highlighting rebound in local housing market

Sep 27, 2017 | 4:46 PM

MEDICINE HAT, AB – Cautious optimism from land developers and the City of Medicine Hat, following the grand opening of a new subdivision.

Hamptons Phase 2C was unveiled to the public on Wednesday afternoon, with construction planned later this fall.

Located just off South Boundary Road, Hamptons Phase 2C has gone through several delays over the last few years.

However thanks to good weather over the spring and summer, the project has gone from blueprints to construction-ready in just nine months.

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024

Medicine Hat College holding event for missing and murdered Indigenous women awareness day

Apr 16, 2024

Led by privately-owned Lansdowne Equity Ventures, the subdivision will see 45 lots built over the next year.

It is a costly venture with the entire development coming in at around $25 million.

Mayor Ted Clugston said while the City didn’t develop this particular plot of land, it’s encouraging to see private developers stepping up.

“This is also the private sector showing confidence in Medicine Hat, even being bullish on Medicine Hat,” said Clugston. “You’re seeing it here with these 40 something new lots and larger lots as well, which the citizens have been asking for.”

Located primarily on Hamptons Crescent SE, the subdivision is the first major project of its kind since Saamis Heights Phase 7 a few years ago.

Meanwhile, after years of little to no growth in the housing market, it looks like there’s light at the end of the tunnel for Medicine Hat developers.

Land sales slowed to a crawl for the City since 2014, with only 25 lots sold last year.

However, the City set a goal of selling 40 lots by the end of 2017, which the Canadian Home Builders Association of Medicine Hat says should be surpassed.

Of the 45 properties in Hamptons 2C, over 50% are off the market due to pre-sales by Lansdowne earlier this year.

Garry Ruff, director with the Canadian Home Builders Association of Medicine Hat said overall land sales are trending upwards.

“We’re hoping that we’re coming to moderate growth here in this fall of [2017], and especially into 2018,” said Ruff. “That will improve the housing market as well.”

At least 10 local builders are expressing interest in purchasing plots, with construction on the homes expected to wrap up sometime in 2018.