Real estate makes a good investment

Business in the Black

I've been considering the Real Estate Investment Network's (REIN) report entitled Top B.C. Investment Towns 2012-2016 which ranks the top 11 cities in B.C. in which to purchase real estate. Prince George came in tenth on the list of eleven with Vancouver at the bottom and Surrey at the top.

At first glance, I was pleased that we were on a desirable ranked list but then my eye drifted to the bottom of the rankings to where our city had settled.

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Is it still a good news story to be at the bottom of a top 10 list? I pondered this question until the strategic marketer in me awakened and I saw the opportunity in this situation.

Free media exposure, afforded to us by the REIN rankings, means that Prince George's good name is circulating in the grownup property pool with Vancouver, Kamloops and Penticton.

As the saying goes, "A low show is better than a no show," or does that only apply to the game of limbo?

What this means for Prince George is that simply being on the list brings attention to our city in a good way.

REIN is very convincing in its support for Prince George noting its strategic long term investment potential.

Judging by the dwindling availability of commercial space in this town, if you're a business, particularly in retail where you need a storefront, you'd better find your corner of the block pretty quick before others across the country do as the Real Estate Investment Network tells them to.

For more than 100 years, the Prince George Chamber of Commerce has leased or rented the space it existed in.

We have long considered making a commitment to our city, through a real estate investment, by purchasing our own building... our own home.

From our low-profile existence in the lower floor of the Coast Inn of the North to our current situation at the character building on the corner of Vancouver and ninth, the recent news of real estate advantage means the time is now.

Many of our real estate and professional services members urge us with comments like, "Prices for city commercial property will never be as low as they are now," and "If you're going to buy, buy now."

Even the REIN agrees.

And so, the Chamber is working through the options available to us with a final decision

anticipated in three to six months' time.

And speaking of important decisions, don't miss this Monday night's city council meeting when the Prince George Chamber presents the results from the downtown parking survey we conducted with our members in April 2012.

Last week, we made a special presentation to the finance and audit committee, which has been charged with the task of bringing pay parking recommendations back to council for their consideration.

Tune in on Monday to discover some of the creative solutions our members provided on downtown parking as we present them publically to council.

Until then, stay in the black and keep coming back.

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