Southpointe set to grow west
Commercial development in south Red Deer could start spilling across Taylor Drive as early as this year.
Negotiations are taking place with prospective tenants for Southpointe Junction, part of a commercial-residential-recreational development planned for a quarter section north of 19th Street and between Hwy 2 and Taylor Drive, said Brent MacKay, commercial manager with Qualico Developments West Ltd.
Qualico previously developed the nearby Southpointe Common shopping centre, and is behind the Southpointe Junction venture.
“We have quite a few tenants that have expressed a level of interest and are ready to go as soon as we have one or two anchor tenants in place,” said MacKay.
That could translate into construction on the site late this year, he added, although that timeline is probably optimistic.
“Our most realistic scenario would probably be starting some time in 2011.”
MacKay said many of the companies Qualico deals with curbed their growth plans during the recession. The majority are U.S.-based, he noted, where the economic downturn was more severe than in Canada and certainly Alberta.
However, retailers seem more optimistic about 2010, which could result to deals this year or next.
Because municipal approvals for the development were only recently obtained, the delay in securing tenants has not been a major setback, said MacKay.
“The approval process has been long, but it’s probably coinciding with a resurgence or recovery in the marketplace.”
hrichards@reddeeradvocate.com
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