People will pay lot prices in Takhini North: realtor

Twelve new residential lots in Takhini North will be dispensed through a lottery to be held March 2, the City of Whitehorse announced this morning.

Twelve new residential lots in Takhini North will be dispensed through a lottery to be held March 2, the City of Whitehorse announced this morning.

But that’s nowhere near enough to meet the demand for land, says the past president of the Yukon Real Estate Association.

“There should be 100,” long-time realtor Terry Bergen said in an interview after learning of the city’s plans.

The city has been short about 75 lots each year for at least the past two years, possibly three, he said.

Up for grabs are three lots for single detached homes and nine duplex properties.

Prices on the single detached properties range from $92,190 to $110,250.

Those bidding on the duplex lots can expect to pay anywhere from $151,725 to $178,185.

“It’s certainly what people will pay,” Bergen said of the prices.

In at least each of the last two years, possibly three, he added, the city has been short approximately 75 lots, with residential property prices rising considerably.

The city suggested in its statement this morning the release of the lots will help meet the demand.

“With requests for land growing as our population rises, I’m pleased to say that this and other lotteries planned for this year will help ease demand.

“The city remains committed to striking the balance between green space protection and providing places for families to live, and Takhini North goes a long way to helping us achieve that.”

Bergen disagrees, arguing the city is at fault for the shortage.

As the city continues to develop the neighbourhood off Range Road, it expects to use a bidding process for two multiple-family lots and a mixed-use residential commercial lot in the spring.

That will be followed in the fall by a lottery for 30 single detached lots, 12 duplex lots and a property for a multi-residential development in the neighbourhood.

“These properties are centrally located and are in close proximity to the downtown core, the Canada Games Centre, the Alaska Highway, as well as an elementary school and Yukon College,” said Pat Ross, the city’s land development supervisor.

“We encourage all interested parties to pick up an information package, which is available starting Feb. 5 at city hall.”

As Bergen pointed out, not everyone will want to live in Takhini North.

While more lots are expected to open later this year next to Arkell, in the new development of Ingram, Bergen doesn’t expect that to ease the demand for more lots.

“There will continue to be a shortage,” he said.

The fall lotteries, he added, will occur well into the building season, leaving many contractors without properties to build on this year.

September 2009 saw the first lottery for the new lots in Takhini North was held with nine properties for single detached homes and six duplex lots sold.

Prices then ranged from $89,145 to $111,090 for the single detached home lots and from $166,740 to $174,930 for the duplex lots.