Prince George locals may be familiar with the newly built Boundary Road that bypasses the city core, but few people realize the significance of the development happening around it.
Boundary road travels through 2,500 acres of land that is being transformed into one of BC’s largest light industrial parks.
This is the first time Realtor® Harry Backlin can remember a new light industrial park being created in Prince George, and he’s been selling commercial real estate in the city for 40 years.
Long Term Growth
Harry and developer Henry Rempel of Vancouver have already spent approximately 10 years getting this ambitious project off the ground, and it could be another 20 or 30 years before all of the land available is developed.
It took a lot of time and energy to get this large area rezoned, and then to build Boundary Road and add all the necessary services. Creating the road itself cost $30 million, with investment from Mr. Rempel as well as municipal, provincial and federal funds.
It is easy to underestimate the significance of this project for the City of Prince George, but as Harry points out, it is often these kinds of developments that generate growth. “They bring in jobs. Jobs attract people to the city and boost residential demand, increasing the city’s tax base.”
First Class Development
In the past, companies interested in bringing light industrial developments to Prince George have faced two major obstacles. Firstly, as Harry points out, there is “very little vacancy” in Prince George’s existing light industrial areas; larger lots simply haven’t been available. Secondly, existing developments are older and less attractive for businesses.
Mr. Rempel’s vision for Boundary Road is to create not just another industrial area, but to create a first class one; modern and functional for businesses, with some lots backing directly onto airport land for easy access to transportation routes.
As development on the south side of Boundary Road continues, lots are being levelled out and a service road is going in. Yet, the small details haven’t been forgotten about. The berm is being built up to improve the view from Gunn Road, and Art Knapp’s will be hard at work in the spring to make sure it looks attractive.
The first lots on the Boundary Road development will be available for purchase very soon. It’s an exciting time for Prince George and a fantastic opportunity for investors.
For more information on commercial real estate opportunities in Prince George, give Harry a call or visit the Team Powerhouse Realty website.