A proposed seniors’ rental complex in Melfort is getting yet another extension on its hold on a piece of land.
Bridge Road Developments can now terminate the land sale agreement without penalty until July 1. The original was signed March 23, 2016, with a deadline of July 23, 2016.
Coun.April Phillips, the community services committee chair, said during the March 13 council meeting the developer has held an open house about the project and that no one else is going after the property.
“We felt that we really didn’t have anything to lose between March and July; to give them the chance to get investors.”
Rick Lang, Melfort mayor, said council felt it was worth extending the deadline to allow Bridge Road to talk to those that attended the open house interested in investing in the development.
“Hopefully that will happen and we’ll have a new seniors’ rental residence built in the city because it’s something we badly need.”
Before this proposal, a similar development on the 3.32-acre piece of land at 76 Hutcheson Street, a Caleb Village, failed because it couldn’t secure enough investors.
The mayor said he’s not surprised that this is taking so long because there’s large amounts of money at stake.
“This is a case where we’re looking for individual investors who have some money and are willing to invest it, and there’s a risk that goes with it and so all of that has to be evaluated.”
Lang is hopeful because there are smaller communities that are having similar developments built.
As for a possible fourth extension, Lang said the ultimate choice is council’s, but he has thoughts on that subject.
“I would suggest this would be the last time that we would look at an extension, I would think, because we’ve had extensions before and there’s only so long you can keep doing extensions with no progress.”
The mayor encouraged investors to get involved in the project.
“I would say if there’s anybody out there thinks they are interested, make sure you let someone know because otherwise this project potentially could go away and then the chances of bringing back something like it are tougher.”
