Real Estate & Development Services

2022-2023 Sector Rates

Sector rates are a helpful starting point for the negotiation of road rights of way in greenfield areas between The City and landowners or developers. Such transactions are crucial for the development process.

The 2022-2023 rates reflect the market value of land and are based on extensive analysis of 58 sales of greenfield properties from January 2017 to April 2022, with additional consideration given to seven active listings.

The 2022-2023 sector rates are similar to the 2020 rates, there were:

  • Slight decreases in the northeast, southeast, and west sectors.
  • The east sector rate increased slightly.
  • The north and south sectors remained the same.

Due to the limited number of transactions, we aim to review sector rates on a biennial basis.

2022-2023 Sector Rates

The sector rates for 2022-2023 per acre are as follows:

North:

$175,000/acre

Northeast:

$215,000/acre

East:

$175,000/acre

Southeast:

$170,000/acre

South:

$200,000/acre

West:

$500,000/acre

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