A major residential development has been approved for close to 200 low-cost, affordable housing units. Last night, Parry Sound Town council approved staff to prepare the paperwork to sell the property at 71 Parry Sound Road for $40,000. The property was appraised at $64,000 and Councillor Bonnie Keith moved to have the asking price raised to the appraised amount. Mayor Jamie McGarvey removed himself as chair to say that he would prefer council stick with the $40,000 price because the developer is paying to install the services to the property and he doesn’t want to send the message that the town is trying to squeeze all money they can from the sale. Council voted against raising the price of the lands. The offer submitted proposes up to 189 housing units (proposed to range from $170,000 – $225,000) through three phases and will include two storey townhouse dwellings, one storey single detached dwellings and two storey single detached dwellings. The first phase is expected to include about 152 two storey units and is scheduled to be finished in June of 2017. The developer will also offer to Habitat for Humanity a one single detached home lot and one lot for four townhouse units.