Harbour Landing, a new neighbourhood in south Regina, has been so popular it is running out of land 10 years earlier than expected.
When the project was announced in 2007, Dundee Developments, the overseer of the project, knew it would sell well but maybe not quite like what has happened.
“We had always intended that this project would last until 2024 or 2026, and we’re now currently working on the final phase to be done about 2015,” said Paul Moroz, the land development manager for Dundee Developments.
The province’s boom is helping to boost sales. It is not just Harbour Landing that is selling well; all of Regina’s new subdivisions are, as well.
“I wouldn’t call it a sell out yet, but it’s getting close,” Stu Niebergall, the president and CEP of Regina and Region Home Builder’s Association said.
New housing units have tripled since 2009, which includes single detached and multi-unit dwellings. Niebergall worries if lots become harder to come by, prices could be on the way up.
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“If we’re not able to get the new developments on stream quick enough, that can create a bottle neck in terms of land supply at some future point,” he said.
The City of Regina said it is working to battle the problem.
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“We’re coming to a point where we do need more land,” Mayor Michael Fougere admitted.
Something during the summer the city will unveil its official community plan. It will be an outline of where the city hopes to be within the next 25 years and a layout of how to get there.
“The plan is to look at the best place for growth, and Harbour Landing will see another extension further to the west,” Fougere said.
Developers say at this time there is still lots of land available. New developments like Greens on Gardiner in the southeast and Hawkstone in the north are coming to life. A lot of work, however, is being done to make sure as Regina’s population rises, there is not a land shortage in the future.
“It’s a challenge,” said Niebergall. “It takes time to get land ready to put houses on. Development is a long process. It’s a long approval process.”
The city does have the option to annex more land from the RM of Sherwood. The two municipalities have had some land disputes in recent months but Fougere says any annexation application to the province would come with the rationale of serving the growing population.
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