Council approved the sale of the 1.18-acre of land to Brauer Homes last week.
One dollar may not go as far like it did decades ago but it did land a developer a nice property on the east side of Kingston to build homes including affordable ones.
Two years after the establishment of the Housing Accellorator Project, City Council last Tuesday approved the sale of 367 Gore Rd to Brauer Homes for one dollar. The five-acre property located was declared surplus by Council and approved the sale.
The value of the land was estimated to be $1.2 million.
Mayor Bryan Paterson says the City was looking for suitable land for affordable housing and believe this one fit their criteria.
Brauer is proposing to build ten triplexes and ten modular homes on the property.
Modular homes are sometimes called 'tiny homes' because of its small size compared to a regular detached or semi-detached house. For the home buyer, modular homes also cost less to purchase and maintain.
Paterson feels this is the future of home building in the city.
Due to the close proximity of Butternut Creek, only 1.18 acres of the 3.3-acre land was sold to the developer. The rest of the land will remain untouched.
Paterson says there were concerns from local residents about the environmental impact this development could bring.
Part of the stipulation of the agreement between the developer and the City is that the developer will be required to maintain these units as affordable rental housing for a minimum period of 25 years from the date of issuance of the final occupancy permit.
The sale will also be conditional upon the purchaser obtaining all necessary planning approvals
to proceed with the proposed development.
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