FriSep112009
The city has defined a growth boundary within the city – think
of it like a big circle they drew around our city – inside (at times
way inside) the actual limits of the City of London. Basically
the growth boundary is a line the city draws for developers to say we
will entertain rezoning and building within this circle as the city
expands outward but will not look at anything outside of current zoning
assignments for property outside this.
So, land well inside the growth boundary – like on Wharncliffe Road
or Southdale Road or in the Massonville area, Oxford street, Veterans
Expressway – all of these areas well within the growth boundary would
sell for easily $200k-$400k per acre. So it is way out of our
price range since we need at least 10 and preferably 15 acres.
Land outside the growth boundary is relatively inexpensive – often
for about $5k-$7k per acre for agricultural land. So a great
price but the city won’t consider a zoning change until they expand
the growth boundary (which may be at earliest in 5 years). So
not an option for us.
Basically we are looking at this small strip of land following the growth
boundary around the city for this is the cheapest land but is still
within the growth boundary or right on it. This land could sell
for about $20k-$30k per acre (or more depending on which area of the
city it is in). So realistically our starting point is very
small in terms of options.
But most if not all of this land is purchased by developers just before or after the city expands their growth boundary (about once every 5 years) and so it is extremely difficult to find land in our price range and which can be rezoned (or is already zoned) for a church.
Land is a big issue and we need to
pray, pray and pray while looking, asking and seeking.