🚧 Exciting news in #Innisfail! A multi-million dollar seniors' condo project is moving forward 🏗️🏠 Big things coming to the #Dodd’sLake area! #Olds #Alberta
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Multi-Million Dollar Condo Project in Innisfail Gains Momentum
A new residential condo project led by former town councillor Glen Carritt is making strides towards becoming a reality in Innisfail. The ambitious plan, set along the northeast shore of Dodd’s Lake, received a significant boost with the recent approval of a development permit by Innisfail’s Municipal Planning Commission (MPC) on August 6th.
A Step Closer to Construction
Carritt, a businessman and former town councillor, has been working on plans for a 12-unit seniors' condo development, which is estimated to cost around $5 million. The approved development permit allows for the construction of a 20,000-square-foot condo building, complete with a parking garage, on the 1.5-acre site at 5052 - 59th Street.
The MPC's approval came with a couple of conditions, primarily focused on maintaining a proper setback from the lake’s bank and meeting minimum landscaping requirements. With the permit in hand, Carritt must now wait out a 21-day appeal period before applying for the building permit.
“We'll work on the building permit, and we’ve got all the geographical drawings coming in as we speak. So yes, we're hoping to get going by the end of August,” Carritt shared following the MPC meeting.
A Welcomed Development
Carritt expressed satisfaction with the development permit process, noting the town's enthusiasm for the project. “I think it went well. I think the town is excited for this development, and I think they’re willing to work with us on getting it moving forward,” he said.
The project is designed for seniors aged 55 and over and will sit adjacent to another large-scale development planned by Evertrust (Innisfail) Inc., which is set to transform 136 acres of farmland along the north and northeast shores of Dodd’s Lake.
From Vision to Reality
The approved plans include a three-storey building with 12 mid- to high-end suites, ranging in size from 1,215 to 1,365 square feet. The building will feature a mix of one-bedroom units with a den, two-bedroom suites, and three-bedroom units. Additionally, the development includes a detached parking structure with a parking stall for each unit and 17 extra surface stalls.
However, with every development come additional expenses. Carritt raised concerns about potential costs, including fees for a water main tie-in to the north of his property. Gordon Shaw, Innisfail’s manager of community development, assured that discussions would continue during the development agreement process to address these concerns.
“The bottom line is every extra cost that goes into the project’s development increases the cost of each unit,” Carritt explained. “Every little bit that we can save on each unit then the cost will be able to be kept down for the purchasers.”
Despite the challenges, Carritt remains optimistic and committed to seeing the project through. “You work through all the loops and jump through the hoops and get ‘er going,” he added with a smile.