The City of Melfort is seeking proposals from interested parties for the development and ownership of a multi-unit apartment complex. Recent growth in the province has resulted in the City of Melfort being amongst the top 4 cities in Saskatchewan for percentage increase in building permit value in 2010. Although new home starts have hit record levels over the past number of years, rental development has not followed pace.
A housing needs assessment completed last year determined the vacancy rate to be effectively zero. Current demand is expected to continue to rise as a result of the recent announcement of the feasibility of the nearby proposed Shore Gold Diamond Mine and the development of the proposed Pehonan Hydro Electric Project.
The city has identified the need to kick start this sector of the housing continuum and have purposely designed a new subdivision to include a parcel suitable for the development of a multi unit rental property, semi detached or low rise apartment building. They have also created incentives to make a project of this nature attractive to potential investors.
An RFP has been issued seeking proposals to develop and own a 12-24 unit project featuring:
1. Fully serviced lot, approximately .75 acres.
2. Land rebate of up to $150,000.
3. Construction Rebate of $5,000 per rental unit.
4. 5 year 100% tax exemption.
Proponents are welcome to put forward terms and conditions that vary from the RFP, understanding that proposals will be graded on their individual merit. Parties interested in receiving the RFP or with questions or comments may contact:
Brent Lutz
Community Development Manager
Phone 306-752-5911