Thousands on waitlist for $10 plots of land in Ontario town ahead of project launch

The small town of Cochrane is located over 700 kilometres north of Toronto and is home to approximately 5,000 residents, as well as a polar bear sanctuary.

Despite being an eight-hour drive from Toronto, Cochrane's enticing promotion has attracted prospective buyers from all over the province. According to the town's mayor, Peter Politis, over 4,000 individuals and companies have joined a waiting list in hopes of purchasing land through the deal. In an update on Facebook in October, the town revealed its concept of providing discounted municipal lot sales and a property tax rebate program to motivate property sales in the area, increase housing inventory and encourage migration.The incentive wasn't without controversy, as local residents expressed concern over the potential strain a rapid population increase could have on local infrastructure and services at a town hall at the end of February.

Despite this, the plan aims to achieve several long-term goals, including establishing affordable rental rates in the area, increasing population density, boosting competition, and providing housing for young families, low-income individuals and seniors. Aside from the discounted land, buyers will also receive property tax relief, although they will be responsible for developing the infrastructure on the lots.Historic mansion in Toronto is surprisingly under $3 millionSomeone in Ontario is renting out a bed at the top of a staircase for $500 per monthThis distinctive log cabin in Brampton was just listed for only $700K

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