Huge interest in northern Ont. town's $10 land sale program as it nears launch

Cochrane soon to launch $10 land sales The Town of Cochrane is finalizing the details of its plan to sell land for $10 to boost housing production. Some locals have concerns.

It sounds too good to be true, but Cochrane’s mayor says the town’s eye-catching land-for-$10 sales pitch is nearing fruition.

Peter Politis shared more details with CTV News.

“The individuals may choose which lot they want, then we’ll provide them the lot for $10,” said Politis.

“There’ll be conditions around what the expectation is for that — timeframes on getting the house built, the financial wherewithal to build the home.”

Politis said more than 3,000 calls have come in from individuals and companies interested in the program. In addition to discounted land, buyers will also receive property tax relief.

The town has a settlement area of up to 1,500 eligible lots.

The goal is to have development companies build a majority amount of the housing needed to accommodate the town’s growth plans.

Some residents are worried that the plan is too ambitious, with the town already facing infrastructure issues. People voiced their concerns at a town hall on Monday.

“Where’s the money going to come from to put the infrastructure into all these lots, when our current infrastructure is falling apart?” asked one attendee.

“Our streets are decrepit because we have no money to fix them and we have no money to repair or to fix those lots,” said another.

Must develop infrastructure

Politis clarified that buyers will be responsible for developing the infrastructure on unserviced lots, adding that there are plenty of lots ready for building.

He said there will also be an expectation that development companies will also invest in improving the town at large, in addition to the economic benefits of the housing developments

Amid concerns of southern Ontario companies potentially buying lots and leaving them unused, Politis said there will be an application process to purchase the $10 lots, with a commitment to development.

“For us, it’s all about building the home,” Politis said.

“If you’re going to build a home, we’re going to incentivize you to build that home.”

The town needs housing for seniors, low-income and homeless people, he said.

The long-term goal, he said, is to build enough housing to drive costs down and boost competition, to the benefit of incoming workers, families and young adults.

Politis also hinted that employers in the area are devising their own incentive programs to attract workers in various industries and help ensure the new housing will be filled.

“We’re working with the regional employers, to move their workforces here,” he explained.

“As we’re doing that, our program, hopefully, will … maximize on other opportunities, like the Generation Z folks in southern Ontario who don’t think they’ll ever own a home.”

Details still need to be finalized, Politis said, but the hope is to launch the program by May— and see how the resulting housing boom unfolds.