The Town of Smooth Rock Falls is moving ahead with the next stage of its economic development strategy and is now seeking expressions of interest (EOI) for new residential developments.
Issued on Aug. 15, the EOI is seeking developers, builders and organizations to propose “innovative housing projects” for the town.
“Housing demand is on the rise, and the town is actively seeking forward-thinking partners ready to deliver high-quality, sustainable, and market-ready housing that will meet the needs of a diverse and growing population,” the town said in a social media announcement.
“This is your chance to invest in a community with momentum, vision, and room to grow.”
Located about an hour north of Timmins, Smooth Rock Falls is a former pulp and paper town of 1,300 that’s actively looking to diversify and expand its economy.
Earlier this year, the town put out feelers to proponents interested in 44.77 acres of surplus, municipally owned industrial land, strategically located along Highway 11.
Three years ago, it released its Waterfront Master Plan, which outlines plans for 140 acres of prime waterfront real estate, which will roll out over the next 20 years.
Two years prior to that, the town embarked on development of a new, 27-acre industrial park, situated on the site of the former Tembec mill, which closed in 2006.
These actions follow an attention-getting scheme, introduced in 2018, to offer a range of incentives to attract new residents and businesses to town, including land packages 90 per cent below market value, tax breaks, business grants, and construction loan guarantees.
Residential developers interested in submitting an expression of interest have a number of incentives and tools at their disposal, including broad lot availability, competitive land prices, and financial incentives through the town’s Municipal Land Sales Program.
Specifically, the Town of Smooth Rock Falls is seeking proponents that can construct new residential homes “within a reasonable timeframe” to boost its housing stock.
Those interested have until Oct. 15 at 2 p.m to submit a proposal.
