A Vancouver property developer plans to build 110,000 square feet of retail space on an 8.7-acre parcel of lane along Highway 16 West.
According to Plat:form Properties principle developer Kyle Shury, the deal was done at the end of 2012 that transferred the land to them from Rona Building Centre's ownership. Rona had intended to locate there but instead expanded its Cowart Road location. The permit applications for Plat:form for site construction should be in to City Hall within the next two to three months for the site between the new Sandman Hotel and Riverpoint shopping centre.
"The intent is to work within the existing zoning and have a fairly sizable development overall," said Shury. "We are just working through our tenant roster right now."
He was not at liberty to discuss which stores may be locating there, but said there was considerable cautious optimism among potential tenants. There hasn't been a significant available development for them to consider, Shury said, since the Westgate development first opened with Canadian Tire, Home Depot and Wal-Mart or the nearby Riverpoint development with Mr. Mikes and The Brick as anchor tenants.
"With what we're seeing in your local economy we feel the timing is right to go into Prince George," said Shury. "We tested some tenant interest level and determined there was significant interest so we could then proceed with the project."
According to City of Prince George manager of real estate and development, Ian Wells, this is a welcome announcement for a long vacant area prominent on the western highway.
"It was part of the original parcel owned by the city all along that strip of the highway but sold to Anthem Properties," in 2004, said Wells. "Anthem then subdivided those into three parcels. One they sold to Rona, one to the Sandman developer and they kept one for themselves where The Brick development is. Then Rona sold theirs again to Plat:form. The original plan was to see it developed for commercial purposes, it is zoned for commercial/retail."
Plat:form Properties is already well into the process of opening a newly built commercial area in Williams Lake to go along with the Boitano Mall property they already own there.
In addition to their Williams Lake and Prince George projects, Plat:form Properties has involvement in such developments as St. Edwards Crossing in Richmond, the Ikea location and Lougheed Super Centre (both in Coquitlam), Queensborough Landing in New Westminister, and the historic Lumberman's Building in downtown Vancouver.
