Local developer Rod McLeod is anticipated to announce the development of a $35 million to $40 million hotel and condominium complex downtown today.
McLeod and commercial real estate agent Clint Dahl are scheduled to make a, "major project announcement," for downtown at 3:30 p.m. today.
The Citizen has learned from a source close to the project that the proposed development will be a 156-room, 12-story hotel, 28 to 36-unit apartment-style condominium structure, 92-stall underground parkade, restaurants and retail space.
According to the source, the 188,000 square foot development will be located adjacent to the Prince George Public Library.
To facilitate the development, a 0.84 acre lot at 1355 10th Ave. will be merged with a 1.72 acre city-owned lot on the other side of 10th Avenue, currently used as an RCMP parking lot. The proposal to close the section of 10th Avenue between the lots and merge them into a single lot is expected to go before city council on Monday, according to the source.
According to the land title for 1355 10th Ave., the property was purchased by numbered company 0926100 B.C. Ltd. on Nov. 30, 2011. According to the title, the company is based at 1699 S. Ogilvie St. - the location of Van Way Cabinets Ltd., which McLeod owns.
In addition to Van Way Cabinets, McLeod is the owner of Royal LePage Prince George.
According to the source, construction is anticipated to begin this June with completion set for 2014. A major national hotel chain has been approached to operate the hotel, once complete, the source added.
McLeod and Dahl were unavailable for comment as of press time.
