Released July 21, 1998

Housing corporation concluded sale
of residential property in Town of Stephenville

Following an invitation to tender in June, Newfoundland and Labrador Housing Corporation (NLHC) has concluded the sale of 9.8 acres (3.97 ha.) of residential property in the Town of Stephenville. The land in the Maryland Drive area, known as Phase I, was purchased by Cecon Ltd., an engineering consulting and development company based in Gander. The announcement was made today by Art Reid, minister responsible for housing and Kevin Aylward, MHA for St. George's-Stephenville East. 

"This sale is evidence of the many opportunities that government is making available for the business community in this province," Mr. Reid said. "In addition, the project will generate increased activity in the construction industry and other business sectors within the Stephenville area." 

"I'm very pleased to see the progression of this development in the Maryland Drive area," Mr. Aylward said. "We are looking forward to marketing and construction of the project which will begin this fall." 

This is a three-staged development which encompasses Maryland Drive extension and associated roads. The three phases are zoned for single or semi-detached building lots. Once developed the project can accommodate approximately 86 building lots. 

The successful bidder is responsible for all future development of the land including provision of services such as connecting external water and sewer mains and roads and internal development of streets, sidewalks, all storm water management and open space related to the development. 

For further information, contact: 
Jenny Bowring, Corporate Communications 
Telephone:  (709) 724-3055