While there currently aren’t enough buyers for the proposed local condo project to go ahead, council will receive correspondence from condo developer Robert Zanette at this evening’s council meeting asking them whether they want to wait and see if sales pick up over the winter.
In an e-mail sent to the town on Thursday, Zanette wrote that based on feedback he’s gotten from potential buyers: “My conclusion is that the perceived pent up demand was not there but normal demand may indeed be there, albeit over time.”
“Said another way, it would have been good for all if sales absorption was as perceived, but more normal absorption is [the] reality, perhaps less because of uncertain economic times,” he added.
Zanette said that while decreasing the prices of condos would possibly help boost buyer interest, “we will not cut corners,” and his firm knows “what it takes to develop a good and sustainable project for Fort Frances, we have to warranty it for up to seven years, so we do things right the first time.”
“We’ll remain with the package we have offered. Sure we could carve out say $10,000 per unit in features/cost savings, but that’s not where we should be going with this project,” he added.
That said, if he can find one or two buyers a month over the winter, that could add up to enough sales to warrant a spring 2010 start.
“If council wanted to stick with this, I would consider staying with it over the winter and see how sales go. Hopefully, we do get the normal one to two sales per month average,” suggested Zanette.
Back in April, council passed a bylaw regarding the purchase and sale of Front Street property to developer Robert Zanette (1621623 Ontario Ltd.) for the proposed La Verendrye Parkway Village condominium project. The bylaw stated that the sale of the land would be contingent on Zanette getting no less than 20 buyers by June 1
Then on June 8, council passed a bylaw to amend an agreement, giving Zanette a deadline of July 1 to find more buyers.
Open houses were held here May 21 and June 9.
Those interested should check out the sign that has been erected on a lot located at Front Street and Mosher Avenue—the future site of the proposed La Verendrye Parkway Village.
Interested buyers also can contact Geoff Gillon at 274-3276, who will get them in touch with the developer or real estate company.
Tonight’s committee of the whole will meet this evening at 5:30 p.m., but is scheduled to be in-camera until 5:40 p.m. after which time they’ll convene in Council Chambers for the public portion of the meeting.
Other business on this evening’s agenda will include:
•Children’s Complex Service contracts;
•a report regarding the permanent closure of runway 03/21 at the Fort Frances Municipal Airport;
•a request from the “Fun in the Sun” committee for a fee adjustment;
•a tender re: selection of a municipal special or hazardous waste service provider;
•activities reports from Community Services manager George Bell and Environmental and Facilities Superintendent Doug Herr;
•a break open ticket licence application from La Verendrye General Hospital Auxiliary at Bonnie Blue from Aug. 14, 2009-Jan. 14, 2010;
•a financial request from Northwest Ontario’s Sunset Country Travel Association re: annual per capita marketing contribution;
•correspondence from Anna Carlson and Dave Bourgeault re: hedges and fences; and
•a financial request from the Rainy River Cattlemen’s Association’s sales barn party committee re: 50th anniversary of the Stratton Sales Barn Celebration on Sept. 19.