New Plateau lots up for grabs

Forty-seven new lots in the City of Iqaluit’s Plateau subdivision go up for grabs during a ballot draw on April 6.

All but one of the new lots is zoned for residential use. City officials expect these new lots will sell out, based on how quickly residents snapped up lots from the first phase of the Plateau subdivision last year.

Residents pay a non-refundable $250 entry fee to enter the draw. First-time homeowners who have lived in Iqaluit for more than two years are given the highest priority, followed by first-time homeowners who have lived in town for less than two years.

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.

Seven of the new lots have been zoned as R-2000 compliant, an even tougher standard for energy efficiency.

The deadline for entering in the ballot draw is April 4 at 5 p.m. The draw will be held inside the council chambers at 7:30 p.m. on April 6.