Thirteen years after Calgary’s historic flood, six riverfront properties that suffered catastrophic damage in the southwest community of Roxboro are being listed for sale.
They were eventually demolished, along with 11 other inner city homes after the province agreed to purchase them under its Floodway Relocation Program.
The lots have been vacant since then, but now, with the completion of upstream flood mitigation efforts, including construction of the Springbank Offstream Reservoir, the province has determined the lots are now safe for new home construction.
“We expect that there will be a lot of demand for these properties,” said Jeff Jackson, an associate broker with Plintz Real Estate in Calgary, the firm selected by the province to market the properties.
“You know, waterfront in Calgary is pretty exclusive, there’s not a lot of supply of it, so, we do expect a lot demand.”
Realtor Dennis Plintz described the location of the properties today as “flood fringe.”
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“Based on the measures and the studies and the water flow, and really great information that’s available, the risk that’s relevant here in the community has been substantially diminished,” he said.
The lots for sale, at 112, 116, 122, 220, 310, and 312 Roxboro Rd. all back directly onto the Elbow River. They were listed for sale on Monday at prices ranging from $1.75 million to $3 million.
“We’ve priced these at what we feel is fair market value. But the list prices, of course, are just a framework and they could potentially go for more than the listed prices,” Jackson said.
The property titles will also include restrictive covenants stating that only single-family homes can be built.
Tony Morris of the Calgary River Community Action Group, a community advocacy group formed following the 2013 flood, says it’s gratifying to hear the properties will soon have homes on them again.
“We want these neighbourhoods whole, we don’t want them gap-toothed with empty lots. And with the restrictive covenants that are on all the titles, we want them restored to the way they were before. That’s been the whole theme of the protection of these inner city neighbourhoods that were impacted by the floods,” Morris said.
Plintz said insurance should not be a problem for those who eventually buy the properties.
“I live on the river and I’ve purchased here after that (the 2013 flood) and we’ve bought and sold a lot of properties on the rivers. So, there’s different policies, different riders that you can get, but no, insurance is no a challenge.”
To Smith Out. You would complain no matter what real estate company was chosen. If Premier Smith solved world hunger, you’d still complain.
” Plintz Real Estate in Calgary, the firm selected by the province to market the properties.”
How much have they contributed to the UCP?
Despite the blather, good luck getting insurance.
Ya. No.
Hard pass.
And only single family homes are permitted…take that gondek.