The Prince George City Council has recently approved the construction of a major condominium and parkade downtown. The City will work in partnership with A&T Project Developments.
The project hopes to attract hundreds of more residents to live in the downtown city centre. This has the potential to benefit the downtown area as well as corresponding businesses.
Exciting development downtown #CityofPG! Prince George City Council has approved a partnership agreement with A&T Project Developments that will allow the company to construct a major condominium and parkade development downtown. https://t.co/74VWJeXldU pic.twitter.com/ZX1nrPaeRk
— Prince George, BC (@CityofPG) December 19, 2017
Construction is set to begin next year.
The project is said to cost around $37 million and will consist of a 151 unit condominium set to be built in the vacant space between City Hall and Queensway Street, north of Connaught Hill. The construction will be completed in four phases.
The site plans on including a parking stadium that will consist of around 290 underground parking stalls, and 64 above ground spaces. Around 133 underground parking stalls will be reserved for condo residents at a reduced rate.
City Council has estimated that the project will result in 630 jobs.
In case you missed it… Last night, Council approved a partnership agreement with A&T Project Developments that will allow the company to construct a major condominium and parkade development in downtown #CityofPG. https://t.co/xMhUTzSIxC pic.twitter.com/Rd6o3BEOWJ
— Prince George, BC (@CityofPG) December 19, 2017
“Council entered into this agreement with A&T because we recognize the critical importance of having people living downtown not only to support local business, but to create a sense of ownership and an inviting atmosphere for all residents in the area, whether they live downtown or are visiting,” says Lyn Hall, Mayor of Prince George.
“It is gratifying to note that A&T recognizes the significant progress made both by the City and the downtown business community in making the downtown ready for a milestone development like this. Council would like to thank A&T for taking on this venture, and our local businesses for their continuing investment and hard work downtown.”
The project is eligible for the City’s Downtown Revitalization Tax Exemption.
A&T also has the potential to benefit from the Downtown Incentives Program. This will lead to a financial incentive for multi-family residential developments to bring more housing to the city centre.
“We are thrilled and excited to be part of this milestone project and look forward to building an amazing community that everyone can be proud of,” says Gary Reed, Vice President, Sales and Marketing, with A&T Project Developments.
