Court-ordered sale of development

The City has received notice that a court-ordered sale on the Wolf Creek Crossing Development lands is underway

  • Feb. 6, 2014 6:00 p.m.

The City has received notice that a court-ordered sale on the Wolf Creek Crossing Development lands is underway, based on the mortgagee being in default to the mortgager.

“On behalf of council, I must say that I’m disappointed and saddened by this turn of events, as this type of retail development is important to the community,” said Mayor Steve Christie.

Prior to this recent turn of events, the City had provided the developer with the necessary permits required to proceed with development.

Since the approval of the Wolf Creek Crossing Outline Plan and the amendments to the City’s South East Area Structure Plan, City administration had been working with the Wolf Creek Crossing developer on the terms of the development agreement and subdivision application for Phase 1A of the development.

The City had two subdivision processes in progress with the developer in Wolf Creek Crossing. One development agreement is in place for a subdivision completed in 2013, and a development permit has been processed and approved by the City that involves the construction of a hotel.

The City has not received any as-built plans for Wolf Creek Crossing, and no construction completion applications have been made. As far as the City is concerned, the project’s infrastructure is in an incomplete state.

The City also holds a security in the Wolf Creek Crossing development, in accordance with the development agreement, for municipal improvements on this site.

– Vossen