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City begins hard-selling of dirt-cheap industrial land

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EDC officials say the $50,000 price per acre of industrial land in the city is too low

Sucent. Marie Economic Development Corp. is preparing to launch an aggressive marketing campaign for city-owned industrial land.

“Within two weeks you will start to see [Multiple Listing Service] List of industrial sites in Sault Ste. Murray is owned by the city,” Rick Van Stavelen, the city’s director of economic development, said at the EDC board meeting on Wednesday.

“It’s never happened before,” Van Staveren said.

“The only way to find out if there was industrial land for sale in Sioux was to call me or my rep.”

“Now this is actually advertised and advertised.”

James Caicco of Century 21 Choice Realty Inc. was recently hired by EDC to pitch an industrial property in the city that sells for $50,000 an acre.

This is double the price the city has charged by July 2021.

Prior to that, the city had sold industrial land for $25,000 an acre since 2004 and had never raised prices.

Flakeboard (now known as Arauco) built at Base Line in 2004.

EDC has doubled prices in 2021 after confirming prices charged by other cities in northern Ontario and recent industrial deals here in Sioux.

At the EDC conference on Wednesday, RE/MAX Sault Ste owner and records broker Sam Butkovich said: Marie Realty Inc. expressed concern that even $50,000 per acre seemed like a very low price.

“We’re not at market price yet, and we’re aware of that,” said Van Staveren.

“We don’t want speculators. We know land is cheap. The last thing we want is someone to come and buy all the industrial land and put to sit down.”

“So we have a requirement that we have to build a facility of at least 2,000 square feet within a year,” says Van Staveren.

“You are offering this property at $50,000 per acre and full service,” commented director Joe Bisceglia.

“I hope they can scoop it up and start building it soon,” Bisceglia said, adding, “It’s not our property. It’s the city’s property.”

In any case, industrial land in the city hasn’t been sold in the past year, even at $50,000.

In other business, EDC directors said Wednesday they are trying to set up a meeting with Algoma Steel to restart the Algoma port project, but so far the steelmaker has been preoccupied with other concerns. ing.

EDC also formally made a previously approved $250,000 donation to the Downtown Plaza project on Wednesday.

“Like most projects,” Van Staveren told the board.

” [completion] The date is still a date, is it likely to move? Yes,” said Van Staveren.

“But I have no new dates or anything to share.”

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