File photo: courtesy of CBC
Officials in Smooth Rock Falls, Ont. are looking to offer a second round of generous incentives to potential newcomers in a bid to revitalize the small northern community.
At first the town had been moving towards a financial tailspin following the closure of a local pulp and paper mill.
As a response, the town’s municipal government originally put 15 parcels of town land up for sale and offered prospective buyers rebates of up to 90 per cent, resulting in some lots being available for as little as $500.
Hundreds of calls were reported to have flooded in, from countries as far as China and Australia.
A single developer, Roman Bodnarchuk, purchased all 15 parcels of land within the first week.
The modern homes that are planned to be built are expected to sell for between $149,000 and $199,000, well above current list prices for other homes in the area. These figures greatly lower in comparison to Victoria’s ‘red hot’ real estate market.
“You could live in this town at a cost of living that’s about a tenth of what we’re used to in Toronto, but yet … you still have the same quality of education and medical care,” he said, citing friendly residents, a scenic location and modern amenities such as hospitals and recreation centres as further draws. “You can live there, but you can live debt-free.”
The town also offered tax breaks for new home and business owners, up to $2,500 off building permits, and financial loans from the city for those who might need it.
With files from the Canadian Press
Julian Kolsut
