The only multiple family-zoned property on the former Stan McCowan Arena site in Porter Creek will be sold over the counter after no one bid on the 0.587-hectare property by last Friday's deadline.

And it's expected one of the two sets of townhouse properties will also go back to the city to sell off in the same way.

Bids on the multi-family and the two townhouse sites closed at 2 p.m. Friday. Horizon Construction was the only party to make an offer, bidding on both five-unit townhouse sites.

Its bid on the 1,768 square metre 11, 13, 15, 17 and 19 Stan McCowan Place properties came in at $214,315.50 (including the GST), with the minimum lot price set at $198,000.

The bid on the 1,568 square metre 1, 3, 5, 7 and 9 Stan McCowan Place came in at $204,865.50 (including the GST) compared to a minimum price of $189,000.

The minimum price set on the multiple family lot is set at $250,000.

While Horizon bid on both townhouse sites, it's planning to turn back the properties closest to Sycamore Street (the larger of the two five-unit sites), Horizon owner Joel Hackney said this morning.

Both bids were placed in an effort to get one of the townhouse sites, he explained. He was surprised when he learned Horizon was the only company to submit a bid on the site after 47 bid packages were picked up from the city.

With few housing options in the city under $300,0000, Hackney said, he saw the lots as an opportunity to work on a lower-cost housing development for those starting out or wanting to buy something less expensive.

"It would be nice to help out the young people," he said.

While the development will be bound by zoning regulations, Horizon staff haven't made any detailed plans of what the townhouses will look like and include.

"I just thought we'd secure the property," Hackney commented.

Over the winter, Horizon will come up with design plans, with construction to begin next season.

Under deadlines outlined in the bid package, sales agreements must be signed by Nov. 10, with the land transferred by Dec. 31.

While there's no definitive answer as to why so few bids came in, Pat Ross, the city's land development supervisor, suggested it could be anything from the prices to the new zoning regulations for the three sites, or that the bid was put out at the end of the building season.

A lot of people may have opted to wait and see if the lots would end up going for sale over the counter closer to next season, he commented after opening each of the bids.

"It's hard to say," Ross said.

Meanwhile, Yukon Real Estate Association president Terry Bergen suggested the uncertainty in the current marketplace could be another factor - along with other issues - in the lack of bids.

"The whole world is being more cautious," he said, stressing he hadn't done any sort of careful analysis specific to the issue.

Though there weren't any immediate takers on the multi-family site, Bergen said he's happy there's a site available for development.

The association believes there should be an ongoing supply of lots that can be developed.

Among other factors that may have contributed to the lack of bids may be the pricing, location and possibly the amount of upfront work which has to be done to plan a multi-family development, he suggested.

"That all takes a lot of time," he said, again stressing he hasn't looked extensively at the matter.

Meanwhile, the city's mayor remains confident the lots will all see development even though there were no bids on the multi-family development.

It's important to be mindful that multi-family lots are not something that's going to appeal to everybody, Bev Buckway said this morning.

Unlike the recent Whitehorse Copper country residential lots, sold through a territorial government lottery process, which saw 153 applicants vye for 73 available lots, a multi-family or townhouse site would likely only draw developers rather than individuals, she said.

The fact Horizon bid on the townhouse lots shows there's interest in developing the area.

Interest has been expressed - and the city has responded - to the demand for multiple residential lots to be available, she said.

While this time of year can be difficult in getting new developments under way, she commented council worked hard to get the Stan McCowan lots on the market as quickly as it could after the arena that had been on the land was dismantled earlier this year.

The multiple family lot will now be available for the $250,000 price to the first person with a $10,000 deposit at the city's Municipal Services Building. It is expected one of the townhouse sites will soon be available in the same manner.