Company buys lots in Mayerthorpe for housing, commercial development

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A major deal for the Town of Mayerthorpe may mean more development on the east side of town. 

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Acon Ventures, a Vancouver-based development company, obtained 49 residential lots to build homes and also plans commercial development, according to the town.

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“We are very excited to be investing in the Town of Mayerthorpe,” Acon President Rahul Anand said in a statement. 

“Mayerthorpe offers a unique combination of opportunity, community values and (a) strategic location, making it an ideal place for long-term investment. 

“We look forward to working with the town to bring quality residential and commercial developments to Mayerthorpe, that will benefit the community for years to come.”

Town communications informed the Mayerthorpe Freelancer that the lots were owned by the town and are located in the Mills Acres subdivision.

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The town acquired the 49 lots after property taxes went unpaid, allowing the municipality to go through the tax sale process, according to municipal communications.

The town informed the Freelancer that details on the sale amount aren’t “available for public release at this time.”

However, town communications stated that the price “represented fair market value for unserviced lots.”

The deal has been in the works for a while, with Acon representatives meeting Mayor Janet Jabush, Chris Leggett, town chief administrative officer, and broker Brian Ames in October 2024.

The group discussed housing demands in Mayerthorpe and how there’s opportunity in the community’s location between two major Alberta highways, according to the town.

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Anand said Acon reps were “struck by the town’s welcoming spirit, proactive leadership, and clear vision for sustainable growth.”

“Our town is growing, and the need for housing cannot be understated,” Jabush said in a statement. 

“It’s not just about building houses; it’s about building a vibrant community where everyone can thrive.

“We’re thrilled that Acon chose Mayerthorpe for a development of this magnitude.”

Town communications emphasized how the project will create job opportunities and promote economic growth.

“Both properties have sat undeveloped for a long time, and it’s encouraging to see strong interest from a developer,” Leggett said. 

“This is a significant investment in the community, and the development will provide new opportunities for residents and businesses alike.”

According to the town, work is expected to begin in 2026 and last for several years as Acon pursues the project in phases.

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