It will likely be years before commercial development occurs in Red Deer’s new SouthBrook subdivision. But a piece of land that should be a key part of that development is up for sale.
David Lowe of Realty Executives — Masters in St. Albert is marketing a 9.9-acre parcel that faces 19th Street on the southwest corner of the quarter section between the Bower and Inglewood subdivisions. Its list price is $3.7 million.
The property is registered in the name of Susan Edith Townsend of Sangudo, as executrix for Arnold Jerram. Jerram and his wife Phyllis lived on and farmed the quarter section, with Phyllis remaining there for a number of years following her husband’s death in the mid-1980s.
The land falls under the Sunnybrook South Neighbourhood Area Structure Plan, which was adopted by the city last year. Melcor Developments Ltd., which owns about 90 of the 153 acres covered by the plan, is developing more than 500 homes on its land.
Much of the remaining land on the south side of the subdivision is designated for commercial development.
Lowe said the Jerram land, which has been on the market for about a month, has attracted some attention.
“I’ve sent off 12 to 15 complete packages to various interested parties.”
He said he’s been telling prospective buyers that it could be some time before the heavy retail uses expected to develop in the area become reality.
“I’m anticipating it’s probably going to be five to seven years before there’s going to be huge development pressure on that land.”
In the meantime, he said, the property might be suitable for an interim use, such as RV storage.
Lowe noted the neighbourhood area structure plan contemplates that the Jerram property will be developed in concert with the adjacent commercial-designated lands owned by Alfred and Mary Ordman.
“That, in the best of all possible worlds, would probably be the way to do it.”
In the meantime, he suggested, the property could be a pretty good investment “for someone with deep pockets and a long view.”
Phyllis Jerram, who still lives in Red Deer but is in failing health, told the Advocate in 2003 that she and her husband bought the quarter section in 1954.
They later moved the house that is currently on the property to its present site.
The Jerrams raised seven children on the farm, said Phyllis, recalling that the city was not visible.
In fact, she said, the nearest urban neighbourhood was Mountview.
hrichards@www.reddeeradvocate.com