New Plateau lots sell out

It didn’t take long for lots in Iqaluit’s new Plateau subdivision to sell out during a ballot draw held in the city council chambers, April 6.

“In 15 minutes, all of the lots were gone,” said Michele Bertol, the city’s lands and planning director.

City staff received 41 applications to purchase 29 single-family residential lots. All but one of the applicants were first-time homeowners, according to Bertol.

Residents paid a non-refundable $250 entry fee to enter the draw. The average cost of a residential lot this year is $65,000. Lease payments paid to the city are used to cover the cost of building the subdivision.

The Plateau is billed as a “sustainable subdivision” by the city. That’s because homes in it are required to be fitted with low-flow toilets and faucets, as well as energy-efficient appliances, insulation and windows.