Fort Smith (May 05/03) - Mayor Peter Martselos says there is a good business opportunity in Fort Smith for home builders.

Martselos says the housing market is "extremely tight" in the town, and new housing is badly needed.

That means developers, both local and from out of town, should consider investing in Fort Smith, he says. "The market is there."

There is currently a zero vacancy rate in Fort Smith, creating a very big demand for housing. "There is no question about it."

People looking for accommodation have even been calling Town Hall, he notes, although the municipality is not in the real estate business, but will help people with information.

"It's up to somebody else to build homes," Martselos says.

The mayor points out that, along with providing more housing, residential construction would help the local economy. So far, Fort Smith Town Hall has issued a development permit for a new fourplex to be built this summer and there is talk that a sixplex may be built.

Martselos says the market is tight because there have been new positions created in the town, and workers in the diamond mines have been moving in. Fort Smith has been promoting itself as a place for diamond workers to live.

Meanwhile, it seems the demand for new residential accommodation is shared in Hay River. The Town of Hay River has sold nine building lots so far this year, says Randy Froese, the development officer with the municipality.

"That's a pretty good indication," he says. "People are not going to buy lots if they're not going to build on them."

Froese predicts there will definitely be growth in the community this summer.