YORKTON - Vacant city-owned residential lots have been put on sale in Yorkton.
“We’re offering them for half off,” said Yorkton Mayor Mitch Hippsley.
The idea of reducing lot prices began several months ago as Council began to look into how to stimulate sale of lots in York Landing in the city’s northeast corner.
“We wanted to stimulate some building out there,” said Hippsley.
It soon became apparent that overall the city needs more home starts.
“We have a housing shortage in Yorkton and we have to try to address that if we can,” said Hippsley.
Citing Realtor Association numbers provided by a local realtor, Hippsley said there were 65 homes for sale as of April 9, in Yorkton, with nine of those pending a sale, so only 56 active listings.
In 2023 sale offerings were never more than 100 at any time, he added.
By comparison in 2017/18 numbers were well over 200.
So the 50 per cent off the asking price of lots was expanded to all city-owned lots, not just those in York Landing, he said.
There are some rules associated with the sale, including that “construction has to begin this year.”
At present the city owns 77 serviced lots that are for sale under the new program.
In addition, the tax incentive program of five years of 100 per cent tax abatement remains in effect too, said Hippsley.
It is hoped the programs will increase home builds single, or 2-3-4 unit dwellings. Hippsley noted that in 2023 there were only two, or three starts in the city.
The city did budget $295,000 to cover the shortfall in sales for the York Landing program, and Hippsley said if they exceed that amount for the expanded program Council will address the shortage at the time, adding that would mean the programs has stimulated home builds.
