February 10, 2016 2:55 pm
Updated: February 10, 2016 10:04 pm

Want to own a big hole in downtown Edmonton? It’s yours for $4.3M

WATCH ABOVE: A big empty hole is for sale just off Jasper Avenue and it can all be yours for just $4 million. Kendra Slugoski has more on the unique listing.

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EDMONTON – A big hole in the ground on 95 Street and Jasper Avenue is being sold for $4.3 million.

The hole was dug on the lot when BCM homes was planning to build a 28-storey condo before backing out of the deal last year.

The lot is zoned for commercial and residential property. At least 33 per cent of the future development must be residential.

“The city encourages buyers to bring forward offers based on bold and creative developments and the city may relax or modify provisions of the existing zoning on the merits of a specific developments,” the listing on the city’s website reads.

Owners of a dry cleaning business that backs on to the lot told Global News they’re eager to have it developed.

The original condo design would have had people and businesses moving into the building by the end of 2015.

The listing is scheduled to close on March 23.

The hole on the Five Corners lot at 95 Street and Jasper Avenue is 36 feet deep.

Kendra Slugoski, Global News

 

Global News

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