The city has sold some surplus land its had for more than 20 years.
City council on Monday approved the $750,000 sale to Erickson Heights Ltd for 3.5 acres of land at 1040 Huron Avenue.
City realty services manager Joel DePeuter said the land is zoned for neighbourhood-scale commercial or institutional projects or medium-density residential buildings that could hold up to 150 apartment units.
"The developer hasn't yet publicly released what its intended use is," DePeuter said.
The land is part of more than 10 acres throughout Thunder Bay that the city has been hoping developers will use to build apartments, something that has been in short supply for Thunder Bay in recent years.
The money will be put into the land development account, which is used for strategic projects.
"If the city were to develop land or for special projects such as the courthouse or it could be a contribution to something like the events centre," DePeuter said of the fund.
The city hopes the sale is the first of many for surplus lands he said.
