By Kelly Louiseize
The second phase of the Bayport Village condominium development is underway with the help of Alterra Group of Companies assisting the Town of Haileybury in implementing and financing the project.
“We’re nearing the completion on design elements and conceptual drawings, now we’re getting into the marketing phase,” says Robert Cooper, president of Alterra Group of Companies.
By August a site will be developed for the Alterrra sales office, which will be a replica of the proposed housing units.
Although both parties will not disclose their financial responsibility toward the project, Alterra is assuming “management control from a financial point of view.”
“The town won’t be involved in the construction,” Cooper says.
“They have provided land at a fair market value and will oversee the infrastructure required.”
The management board overseeing this project is made up of councillors, community staff, city advisory groups and Alterra.
Actual construction of the townhouses will not begin until 80 per cent of the 30 units are sold. The cost of the townhouses range anywhere from $139,000 to $169,000.
“We will not build unless we have people with firm closing dates,” Cooper says.
Alterra and Haileybury expect interest in the units among “empty-nester types” from areas like Timmins, North Bay, New Liskard and Cobalt.
“We are looking for people who want to make Haileybury their home during the summer months,” Cooper says.
This sounds welcoming to the residents of the town, particularly to James Smyth, chief administrative officer of Haileybury.
“This will increase our population, as well as our tax base,” Smyth says.
“It will also open the town up to other possible businesses in the area, like recreational facilities, nursing homes and retail stores.”
Presently the Town of Haileybury and FedNor are 100 per cent financially responsible for the development of the project.
“We’ve have had a good partnership with FedNor and hope to continue our relations,” Smyth says.
They are also seeking assistance from the Northern Ontario Heritage Fund Corp. under the capital assistance program to enhance the northern community programs.
“We want to partner with them, not only to develop the site, but the region,” Smyth says.
With the assistance of the governments, the township can finalize architectural plans, implement telecommunication upgrades, approve plan designs and begin the infrastructure work.
“It will cost approximately $500,000 for the marketing and promotion of the project,” Smyth says.
Bayport Village’s total cost is about $3 million, and is part of the gentrification project slated for the downtown, which will extend southward along Lake Timiskaming. The first set of townhouses scheduled for construction will be located on Main Street to the north, Meridian Avenue to the west, Far Drive to the east and Angel Road to the south.
More condominiums are expects to be constructed, depending on the success of the first 30 units.
“Assuming (Alterra) sells 80 per cent of the units, (the company) will build more.” Smyth says.
