Caleb pulls the plug on Moosomin project
[ MAY 10, 2010 - KEVIN WEEDMARK ]
A 94-unit seniors housing development that had been proposed for Moosomin is off the drawing board.
Caleb Group has decided to cancel planning for its Caleb Village Moosomin project because it hasn’t sold enough units to make it viable.
“We wish to advise that, as a result of insufficient commitments, we will no longer be pursuing the development of a Caleb Village for Moosomin,” Caleb chair Darrell Remai wrote to Moosomin Mayor Don Bradley last week, “and are allowing our option to purchase agreement with the town of Moosomin to lapse.”
Caleb Group had an option to purchase an entire block of land between Wright Road and Henry Street. Before Caleb came along, the town was planning to develop the block into 12 residential lots.
Caleb Group, which has developed seniors’ housing developments across the Prairies, held two public meetings in Moosomin in December and spent the last several months promoting its Caleb Village Moosomin proposal. The company set a target of selling 30 units before committing to move ahead with the project, but was unable to meet that target.
The company made one final effort to reach its sales totals at the Home, Farm and Leisure show, but decided following the show that it couldn’t reach its sales goal.
In the meantime, another developer has expressed interest in the same block of land.
The town was extremely short of land for residential development, but it now has the site Caleb had an option on available again, and it plans to allow residential development on the former site of Moosomin Union Hospital.
The Kin Place board, meanwhile, is looking at options to move forward with another development for seniors—its 12 unit life-lease seniors housing development. The building is not sold out, but board members met Tuesday and decided to look at alternative financing so the project can proceed.
“I believe it will sell out by the time it’s built or shortly after,” said Kin Place board member Tyler Thorn. “The board wants to see the shovels go in the ground.”