South Hill should soon have a substantial number of new residential properties, which will be offered to potential owners at rates perhaps more attainable than if they were to buy homes strictly based on market value.
During Monday’s regular council meeting, councillors and the mayor ratified an executive committee decision allowing the sale of a 10-acre parcel of land between Ninth Avenue and 11 Avenue behind Warner Street for a total of $496,500.
The sale is to NewRock Developments Ltd. The purchaser also has the option of purchasing the adjacent 11 acres to the parcel.
On Wednesday, NewRock Developments president Cam Ens told the Times-Herald his company is definitely a “for-profit” business and his homes would not be considered “low-income housing.” However, he said the company takes advantage of the CCL Mortgage Assistance Plan in order to assist people in purchasing homes.
For more on this story, read an upcoming edition of the Times-Herald.