No bids for 39 Northdale homes
Posted Aug 16, 2011 05:05:51 AM.
This article is more than 5 years old.
A bid by a group of homeowners in the Northdale neighbourhood of Waterloo to sell their properties in a mass auction has come up empty.
Paul Ellingham is the organizer of the drive and tells the Record, despite interest from several developers, they received no bids by last week’s deadline.
He appeared before City Council last night pushing to have the area rezoned to make the 39 homes easier to sell – an issue he says is holding up serious bidding. However, he was told rezoning takes time, including studies and consultations and can’t happen overnight.
He says he was also told it would cost $20,000 per property.
The homes are located in the Hickory, Hazel, Hemlock and Balsam streets area.
Ellingham and others want to sell their homes arguing the city’s new rental housing bylaw has driven down property values.
