By Medicine Hat News on June 7, 2017.
Medicine Hat is in the middle of a commercial building boom. Construction in the south end alone runs into the $100-million range. Add in the projects downtown and at Box Springs Business Park, and the number goes even higher. A quick rundown of work announced and underway only serves to illustrate the depth and breadth of commercial development in Canada’s sunniest city.
Best Western: Medicine Hat-based Meadowlands Development Corp. has contracted a two-acre parcel near the Black and White Trail and Strachan Road to a local group with plans to build a $15-million, 120-suite hotel.
Marriot Town Place Suites: Kelowna-based Braemar Group has plans to develop a 4.34 acre site including a new hotel and commercial development.
Medicine Hat Mall: Slated for completion in the fall of 2017, the $15-million, 118,00 square foot Target redevelopment project will result in a new retail wing, new mall entrances, a new 500-seat food court with 12 new food outlets, a 23,000-square-foot Marshalls, a 21,000-square-foot HomeSense store, with more on the way.
Strachan Corner: Edmonton-based Brentwood Developments is making steady progress on their 12.95 acre, infill project to be anchored by Save On Foods and set to open in 2017 with over 125,000 square feet of new retail upon completion.
Strachan Road: Canalta and South Country Co-Ophave plans for a 17-acre greenfield development including a Canalta-branded extended stay hotel and seniors living complex, a Boston Pizza, an A&W, plus a new convenience store, gas bar, car wash and liquor store.
4th and 4th: Swell Private Wealth is leading the charge downtown with a newly minted 7,000 square foot office complex. That initial investment kicked off a mini-boom at the corner of 4th Street and 4th Avenue, with Little Owl Learning Centre and 20/20 Eye Care also setting down roots in the area.
Masterpiece Southland Meadows: Slated to open in October 2017, the new retirement residence will provide 100 continuing care suites, plus 21 private suites.
What’s driving this growth?
With above average population growth of five per cent from 2011-2016, Medicine Hat is the region’s largest service centre with a catchment area of more 120,000. As Alberta’s most affordable city, the secret is out: Medicine Hat is an amazing place to call home.
Put it all together and Medicine Hat offers the stability and growth opportunities that investors crave. When it comes to commercial real estate, the time is right to invest in Medicine Hat.
Ryan Jackson is the general manager for Invest Medicine Hat, is the City’s economic and business development initiative whose role is to uncover and promote business opportunities in Canada’s sunniest city. For more information on investment opportunities, visit http://www.investmedicinehat.ca
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