Council chambers, image via RMWB.ca
RMWB repurchases downtown land for delayed medical complex
FORT MCMURRAY, AB. — Land in downtown Fort McMurray once set aside for a medical complex has been repurchased by the Regional Municipality of Wood Buffalo after the developer missed a key construction deadline. An agreement with Sultan Management Group required groundbreaking by June 30, but when no work began, the municipality repurchased the Franklin Avenue and Morrison Street property for $748,000 less adjustments on Aug. 27.
Municipal officials say no final decision has been made about the property. “We are still considering the options for the future development of the site. SMG Builders are more than welcome to submit a future bid should the land become available for sale,” said an RMWB spokesperson in a Monday email. The municipality added that the repurchase aligns with policy to protect market value. “In accordance with RMWB policy, this land sale requires council approval if the sale price is less than 90 per cent of market value or upon the CAO’s decision to bring it to council.”
The land was previously sold to SMG in late 2022 after the company made an unsolicited bid. The parcel, which once held an A&W franchise, had been eyed for redevelopment for more than a decade, including a cancelled arena project. The municipality says developers such as SMG can still seek a role in future plans if the land is put back on the market.
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