The City of Yellowknife is selling 24 industrial lots in Engle Phase II and four residential lots are in Niven Lake Phase V.
The property will be sold on a first come, first served basis — unless otherwise specified, like the two ballot draw which is being held in Grace Lake.
Engle Phase II
Engle Phase II is located on Deh Cho Boulevard with direct access to Highway 3, Yellowknife Airport and the Kam Lake light industrial neighbourhood.
The city said that the lots will be zoned for industrial development: industrial general (IG).
The properties will permit a range of development options to meet industrial business needs.
The price of the lots is based on the size, but averages $280,000.
At almost 12 acres, the largest lot is priced at $1.3 million.
The city is offering up to five years to pay the balance of the purchase price.
On Dec. 14, 2009, city council adopted the timeline to obtain an approved development permit extended from one year to two years (from the possession date), and up to four years to complete construction (from the possession date).
Niven Lake Phase V
There will be four residential lots on sale by the city in the Niven Lake Phase V subdivision. Niven Lake Phase V is zoned R2 — medium density residential, and is intended for building duplex, multi-attached townhouses and multifamily apartments.
According to the city’s website, the purchase price of the lots ranges from $155,000 to $425,000.
One of the sites has already been sold.
“For typical residential lots sold by the City of Yellowknife (like the Niven Lake Phase V land) purchasers would not have to submit detailed development plans when applying. However, they must enter into a purchasing agreement with the city at the time of the application which establishes the conditions of future development of the site,” said Sarah Sibley, the city’s manager of economic development and communications.