Cramahe Now

Land in the expanded Colborne Industrial Park will cost between $61-66 thousand per acre under a plan adopted by Cramahe Council on June 2.

Council voted 4-0 to levy development charges on top of the cost of the land for any new land purchases in the 45-acre plot. Based on 30% coverage for new buildings the development charge will be $27,842.80 for a 13,000 square-foot building on a one-acre site. Those who buy land on the south side of the new industrial park road will pay $30,000 per acre. Purchasers of land abutting the 401 will pay a $5,000 per acre premium.

HD Supply was the first company to purchase land in the park, paying $38,000 per acre for 15 acres. It did not pay any development charges for the land which it purchased before the charges were approved.

Mayor Marc Coombs was concerned that the township be competitive in its pricing.

The cost puts Cramahe well below Cobourg and Port Hope which charge $95,900 and $103,780 per acre, according to a report tabled by Cramahe Community Development Officer Rebecca Goddard-Sarria.

Similar land in Belleville costs $59,500. In Peterborough it's $48,450 and in Quinte West an acre costs $41,760. Belleville and Peterborough do not levy development charges.

The Goddard-Sarria report gave the development charges for land in Brighton but not the cost per acre for the actual land.

Mayor Marc Coombs admitted that the prices will be negotiable. These numbers are the ones which will be provided for potential buyers.

Purchasers will be encouraged to build within two years of purchasing the land. If they don't build within the allotted time the township may purchase back the land or offer an extension.