Amendments to the Foreign Buyer Ban For Vacant Land March 27, 2023

Repealing existing provision so the prohibition doesn’t apply to vacant land.

We are repealing section 3(2) of the regulations, so the prohibition does not apply to all lands zoned for residential and mixed use. Vacant land zoned for residential and mixed use can now be purchased by non-Canadians and used for any purpose by the purchaser, including residential development.

Exception for development purposes.

This exception allows non-Canadians to purchase residential property for the purpose of development. The amendments also extend the exception currently applicable to publicly traded corporations under the Act, to publicly traded entities formed under the laws of Canada or a province and controlled by a non-Canadian.

CLICK HERE FOR MORE INFORMATION ON THE FOREIGN BUYER BAN FROM CMHC

If you’re looking for a piece of rural paradise just 20 minutes away from the bustling city of Sherwood Park, look no further than these two parcels of land side by side in Strathcona County. With one site measuring 17.07 acres and the other 18.29 acres, you’ll have plenty of space to build your dream home or pursue your business goals.

The best part? Property taxes are under $20 a year, making this an incredibly affordable option for anyone looking to invest in real estate. With the DC49 zoning, you’ll have a range of permitted uses to choose from, including single-group homes, minor home businesses, and family care facilities.

If you’re looking to run a bed and breakfast, this zoning allows for a discretionary use of up to four sleeping units, giving you plenty of flexibility to accommodate guests. 

CLICK HERE FOR ZONING INFORMATION ON THESE PROPERTIES

CLICK HERE FOR THE BEAVER HILLS POLICY AREA PLAN

But perhaps the most exciting part of owning these two parcels of land is the opportunity to create your own slice of paradise. With plenty of open space and room to roam, you can design and build your dream home, complete with all the features you’ve always wanted. Imagine waking up to breathtaking views of the countryside, with the peace and quiet of rural living at your fingertips.

Of course, you’ll also enjoy all the benefits of being just 20 minutes away from Sherwood Park. Whether you’re looking for shopping, dining, or entertainment options, you’ll have easy access to all the amenities of city living. When you’re ready to escape the hustle and bustle, you can retreat back to your own piece of rural heaven.

These two parcels of land offer an incredible opportunity to invest in real estate, build your dream home, or start a business in a stunning rural location just minutes from the city. With the flexibility of the DC49 zoning, the low property taxes, and the endless potential for customization and growth, this is a rare opportunity that’s not to be missed.