Elliot Lake is experiencing a housing boom - something the town has not seen since the development of the local uranium mines 21 years ago.
Although there are lots of houses for sale, new residents moving into the area prefer to build rather than buy. The mayor attributes this to a high housing market, and homes that are poorly located and require a great deal of work.
The average price for a house in Elliot Lake is $50,000. However, town council anticipates the houses being erected will cost anywhere from $100,000 to $125,000 on the proposed lots, with a few houses reaching the $150,000 mark. The proposed land is located in Esten subdivision on the south part of town and has the potential of 70 lots with an average 1,200-square-foot size for each house. The council became aware of the need for new homes by real estate agents who had clients willing to build.
Contractors may build on individual lots or buy the whole piece of land, subdivide it, and erect houses to sell.
