Phase 4 of Iqaluit’s Plateau subdivision ready for development

Development of Phase 4 of the Plateau subdivision in Iqaluit looks set to start this summer, after the city confirmed that more than 75 per cent of the area’s lots are likely to be snapped up by developers.

The city has a list of developers who are planning to buy the land after contractors hired by the city develop the land in work that will begin this summer.

The list of potential buyers will be revealed at the next city council meeting.

The lots won’t be empty for long though. Iqaluit city planner Arif Sayani said four-plexes and twelve-plexes could be built on the medium density residential area as early as next year.

Zoning for the area allows eight residential and two commercial plots along the road named “Quilliq Court.” The development extends the Plateau further to the northwest, bringing it closer to the Upper Base area.

Since the minimum 75 per cent interest has been exceeded, the city can now go ahead with plans to seek a loan to pay for development of the land, including roads, water and sewer lines, and a playground.

This will cost $3.5 million. The city plans to pay off the debt with lot-lease revenue received from developers and home-owners.

“Now we’re in the process of getting the engineering design done, pipes going in, how roads will be built, that’s what’s going on right now,” Sayani said. “It will take the summer to build the road and put in the pipes.”

Developers who wish to build in the new subdivision have yet to be awarded lots.

The city will look at proposals from developers and award lots based on the quality of the proposals, based on a point system.

“How many units can you fit, can you meet the requirements in terms of setbacks, parking, to everything related to energy and water saving measures, you get more points,” said Sayani.

“We want to try to maximize development on that lot while meeting all the city’s requirements on development. Whoever can do that the best, they receive the best lots.”

Each residential plot is an average of 1600 square metres in size. Estimated lot lease prices range from $234,000 to $471,000.

For capital district zones, or commercial zones, the two lots will cost $608,880 and $543,520. But prices for all lots are subject to change depending on interest.

This project, along with others, including proposed industrial lot development at Upper Base and residential developments off the Road to Nowhere and in Apex, are expected to accommodate a population expected to grow to 13,000 people by 2030.