Wood Buffalo’s Urban Development Institute says the city has to act urgently in getting land in Parsons Creek released to developers.
Executive director Howard Rensler is presenting to council tonight at their administrative briefing.
He says developers have only been getting about 500 new units built per year over the last couple of years, well below the 2,500 a year it’s reached before.
He says if more lots don’t get released to developers, there might not be any supply ready when the Parsons Creek interchange opens in just over a year.
“In fact, even if the interchange opening is delayed by a number of months, the danger of not having product ready is still very real,” reads Rensler’s presentation. “In fact, even if the interchange opening is delayed by a number of months, the danger of not having product ready is still very real.”
Rensler is also urging council not to compromise the downtown redevelopment and its catalyst projects, which he says are needed for more residential options and commercial space.
“We seek to remind Council that overall the redevelopment of the City Centre is a positive initiative that will attract new business and residents and enhance the quality of life here,” Rensler writes. “We caution council not to compromise the delivery of the overall plan and the key elements thereof, by focusing too much and too long on certain details and peripheral elements of the Plan.”
The final agenda item on tonight’s council briefing is “Land Issues”; but all of the information on that item has been made confidential as council will be “in camera” for that session.
