Red Deer’s Land and Economic Development manager is pleased with the interest shown in the city’s newest industrial park.
The city began accepting proposals for development in Queens Business Park last month. Up for grabs are approximately 103 acres of industrial land and five acres of commercial land in the first phase of the 289-acre parcel west of Hwy 2 and south of Hwy 11A.
Howard Thompson said the proposals received to date have been good ones, both in terms of the quantity of land sought and the quality of the development proposed. He said he could not elaborate at this time, but added that the city is in discussions with five different groups.
“I think it bodes well for the outlook on the economy,” said Thompson of this early buy-in at Queens Business Park.
The city continues to accept proposals for development in the park, with information available at City Hall or on the city’s website.
Prospective buyers are required to specify the size and location of the land they are seeking, as well as its intended use and details of the proposed development.
Prices range from $486,000 for a 1.62-acre lot to $2.2 million for a 5.65-acre parcel, with these based on a figure of $300,000 per acre for industrial land and $425,000 an acre for commercial property —plus a premium for land on corners or with favourable exposures.
Services for Queens Business Park are expected to be installed this summer on a staged basis, with land available for construction as early as this fall.