Groundwork has begun on a major development on the east side of Lacombe that’s slated to consist of commercial, light industrial and residential land, as well as park areas.
Wolf Creek Crossing is being developed south of Hwy 12 and east of 45th Street by Richview Developments Inc. of Edmonton.
The company is stripping and grading land for Phase 1A of the project, which will include a 15-acre commercial power centre, an 80-room hotel and 15 townhouse units.
“By June next year, you will start seeing some building starting,” said Biri Nikhanji, Richview’s president and CEO.
He added that a AAA retail tenant is close to being signed for the power centre, which should attract other users.
“If all goes well, we’ll do the entire 15 acres immediately,” said Neeraj Nikhanj, Biri’s son and the chief financial officer of Richview.
“The one AAA tenant that we’re working with is going to give us leverage for the balance of the power centre and the development.”
Phase 1B will add another 12 acres of commercial land, with a major retail store expected to serve as anchor.
Next to be developed will be 22 acres of light industrial land and approximately 4.5 acres of high-density housing as Phase 2. Finally will come single-family lots, spread over approximately 26 acres.
More than 14 acres are designated for parks, with several storm water retention areas also contemplated.
Neeraj said Wolf Creek Crossing has been more than two years in planning.
“We loved the location and thought that there’s a huge demand for this type of development, especially a commercial centre,” he said, pointing out that other communities like Sylvan Lake and Rocky Mountain House have attracted similar power centres.
He’s confident Lacombe and its trading area will support the development, especially in light of the city’s location on the Calgary-Edmonton corridor.
“There will be a demand, whether it’s today or two years from now.”
Although Richview will do all the servicing and roadwork for Wolf Creek Crossing, the power centre will actually by built and owned by Camgill Enterprises Ltd. of Edmonton.
Richview will sell the residential lots to builders or directly to homebuyers, said Neeraj, and Ralph Salomons Commercial Inc. of Red Deer will market the light industrial land and the remainder of the commercial land to prospective buyers.
hrichards@www.reddeeradvocate.com