I think this guy probably has the right idea:
153-unit condo for Lamont next to Upgrader Alley
'Low-end' project aimed at oilpatch construction workers
Ron Chalmers
The Edmonton Journal
Saturday, September 22, 2007
EDMONTON - Upgrader Alley has attracted a 153-unit condominium project to the town of Lamont.
Wim Jonk, owner of Wimco Properties, hopes to start work in January on his 4.5-hectare site in this town 20 kilometres northeast of Edmonton.
He bought the land in April and already has received a re-zoning from agricultural to residential use. Wimco's architect, A & E Architectural & Engineering Group, in Edmonton, is finalizing a development application, while Jonk is talking to contractors.
He expects prices in the three-storey wood-frame structures, with plastic siding and surface parking, to range from $160,000 to $250,000.
"I'm going low-end," Jonk says, although every unit will have a balcony facing an interior park on the spacious grounds.
"Later, there will be some commercial, perhaps a bakery and coffee shop and offices," he speculates. "That will take some years."
Sales of the first of three residential buildings will start when construction starts. Timing of the other two buildings will depend on sales.
Jonk says he launched this project in a town of only 1,700 people because "the land was fairly cheap and the upgraders -- and thousands of construction people -- are coming into this heartland area."
The Shell and BA Energy upgraders are under construction in the area, with six other upgraders planned.
Jonk expects buyers to include engineering and construction workers on nearby projects, other workers who will commute to Strathcona County, Edmonton or Fort McMurray, current Lamont residents and investors.
The condos will be just inside Lamont's western town limits.
This is Jonk's first development since selling his staffing service in Holland and moving to Edmonton last December.
rchalmers@thejournal.canwest.com
© The Edmonton Journal 2007
