Complex sentence: Local history maintains that Edson (Heatherwood) was built in its current location because it was the first level spot after Wolf Creek, where the land was quickly bought up after the announcement of plans to develop a town there, rendering it uneconomical for the railway.
Split into simpler sentences: Local history maintains that Edson (Heatherwood) was built in its current location because it was the first level spot after Wolf Creek. The land at Wolf Creek was quickly bought up after the announcement of plans to develop a town there, which rendered it uneconomical for the railway.