Renewed community confidence spurs Sault developers: With Algoma Steel on solid footing, city planners seeing more apartment rental units on the books.

• Date: 01 April 2019
• Author: Ross, Ian

The emergence of Algoma Steel from bankruptcy protection has kicked up the confidence of local developers, according to the City of Sault Ste. Marie's planning director.

Don McConnell estimates his department receives four to five applications monthly from developers looking to build rental apartment units, an activity that had basically flatlined during the three years that the steel producer was undergoing financial restructuring.

But through last summer and fall as word spread that Sault Ste. Marie's biggest industrial player was finishing the process, a bunch of smart and savvy local developers, with a good handle on the market, saw an opportunity to fill a much-needed housing gap.

As the Sault's population ages, many seniors are looking to sell their homes and downsize. The service industry to cater to these folks only figures to grow, and that necessitates the need for employers and the City of Sault Ste. Marie to aggressively recruit young people to relocate to the Sault.

"When you're talking to these companies, they're looking for anybody," said McConnell of the current labour crunch. "Algoma Steel is looking to hire 800 people over the next two years."

An interesting development trend is the repurposing of former elementary and secondary schools into other uses.

McConnell mentioned five former schools that have...