By Leah Murray

City says multi-family land sales are going strong

Jun 26, 2018 | 5:48 PM

MEDICINE HAT – The City of Medicine Hat is seeing increased interest in multi-family homes development in the Gas City.

Jane Zwicker, sales and marketing officer with the Land and Business Support office, said there have been several land sales so far this year and more are in the process of being finalized.

The city expects construction will soon be underway on the Laurel Gardens 150 unit apartment building on a four acre piece of land in the Southlands area.

Zwicker said five duplex lots have been sold so far this year. There are also two parcels of land in the Ranchlands area which are in the process of being sold. She said those sites will be made up of townhouses and 4-plexes.

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The city said there has been a noticeable increase in interest for multi-family lots.

“Based on some information from Build Alberta, they’ve indicated that builders have given up on building a house under $350,000-$400,000,” Zwicker said. “So, how they’re supplying that kind of price point below that is through multifamily, which is the duplexes [and] townhouses.”

New Rock Developments is currently working on a cluster housing site in the south end of Medicine Hat that consists of 32 multi-family units for adults and seniors. Possessions have already started with 25 of the 32 available units already sold.

Rob Whitten, past president of the Canadian Home Builders Association in Medicine Hat, said there is definitely a demand for more affordable housing with changes to mortgage rules that can make it harder for people to qualify for mortgages.

“New mortgage rules and the availability of housing have pushed up the price for home-ownership,” said Whitten.

Zwicker adds the hundreds of new jobs that are going to be created by two new big businesses opening up in Medicine Hat is likely also contributing to the push for more affordable housing options.

“Since the announcement of Hut 8 and Aurora Cannabis coming to town and setting up shop, we’ve certainly noticed a lot more inquiries about what multi family lands we have on the market, that could possibly capture that demand in the foreseeable future,” Zwicker explained.

The city said it’s expecting the trend will continue with around six recent inquiries into available multi-family lots for development.