Sylvan Lake’s latest developments-with-a-view are expected to be ready by next spring.
Polar Creek Industries Inc. president Al Laplante said on Wednesday that construction is expected to start this fall on a 12,000-square-foot strip mall at a prime location at Lakeshore Drive and Centennial Street (50th Street). Weather co-operating, the six-store commercial development will open its doors to customers in late spring.
“It’s about 75 per cent pre-leased already,” said Laplante of the development that will feature well-known tenants. He can’t name them yet but expects to release more information in a couple of months.
Laplante said he bought the former Shell gas station site about a year ago and has been assembling the $1.5-million retail project since.
The development is not the only major change coming to the town’s lakefront courtesy of the developer and his partners. Further west, the first 11 homes of a 25-unit townhouse complex are well under construction.
“In our first bank of villas, we hope to have our show suite open here in about a month’s time,” he said. The entire project is expected to be completed by late May. “We’ve had huge interest on that because this is the first time anything new has been done on the shores of Sylvan Lake in probably 15 years.”
At starting prices of $440,000, the villas offer a cost-effective option for lakefront property, he said.
The project has morphed from the initial vision of a 65-unit four-storey condominium complex. Now, 1,300-square-foot villas with two-car garages are planned. Each owner has an option to buy a boat slip. Next door, the Sylvan Lake Marina has been completely rebuilt and improved and a portion of the boat slips have been reserved for the villa project.
Overall, development shows no signs of slowing down in Sylvan Lake. Through August, $38.8 million worth of development permits of all kinds had been issued, up from $37.6 million through the first eight months last year, which was a near-record year with a total of $52.2 million worth of permits issued.