Interest Rates Low for Q3 in Vancouver, BC
commercial real estate blog vancouver bc, commercial real estate vancouver bc
Terrace Named Second Top Investment Town in Western Canada for 2019
Tags:
(Posted on Nov 7, 2018 at 08:43PM by Michelle Bogle)
Just a half-hour-drive away from Kitimat’s new $40 billion liquefied natural gas (LNG) terminus and pipeline network is Terrace, B.C. This land-rich city was recently named the number two best investment town in Western Canada for 2019 by Western Investor – a city that we will be a staging site for LNG Canada’s neighbouring plant.
Â
According to Danielle Myles, Manager & Economic Development for the City of Terrace, the selling point of the area is the availability of land. Historically, major industries and investors have flocked to the area and that trend that will continue with the development of the LNG plant. Terrace is also home to an airport and an extensive retail industry, which has helped the city earn its spot as a major trading centre for northwest B.C.
Â
And while investment in Terrace is expected to rise with the advent of the bordering Kitimat LNG, this growth isn’t new to the region. Over the last two years, commercial building permits in the city have increased by nearly 300 percent. The residential housing market has also experienced growth – the average price of a detached house in town averages $337,000, which is up 18 percent from one year ago.
Â
If you have your eye on land or other commercial real estate assets in Terrace, B.C., the time to act is now. Please contact our Vancouver office to speak with a Marcus & Millichap investment specialist to learn more.
Powered by Webstager