By Taylor MacPherson

Business leaders excited by hotel announcement

Oct 3, 2017 | 2:00 PM

From job creation and economic growth to increased investor confidence, local business leaders said the announcement of a new, luxury hotel project in Prince Albert will have plenty of benefits to the community.

The $15-million four-storey hotel project will be constructed in the south end of the city at Fourth Ave. and 39th St. W., and will include 82 suites and a large beer store. Developer Faizan Hirani told paNOW the rooms will be large, luxurious and fitted with the finest amenities. The hotel is just the first phase of the two-phase project, he said, and plans for an adjacent stand-alone restaurant and a second hotel are already underway.

Meghan Mayer, chair of the Prince Albert Chamber of Commerce, said she was thrilled when she first heard about the project.

“I read the news and I just was ecstatic,” Mayer said. “This is such huge news for Prince Albert.”

The hotel will create immediate benefits for the city, Mayer said, particularly in the tourism sector. The project will also act as a signal to other potential investors, she said, letting them know that Prince Albert is a great place to make major investments. Mayer said the city was right to offer tax incentives to the developers, as they will likely see tremendous returns on their investment in the long term.

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Mayer is also the CEO of downtown event centre Plaza 88, and said she is expecting to see business increase once the hotel is complete.

“It’s big for us because we do want to host big events and have people come from other places to use our event centre,” Mayer said. “We’ve always hoped for more hotels and more spaces, and especially something that would be premier like this one is.”

Jamie McGuin, chair of the Prince Albert Hospitality Association agreed the new development will be good for the city.

“You’ve got some people willing to commit a large portion of capital investment to our community,” he said. “The city will certainly benefit from it.”

The market in Prince Albert is not as strong as it could be, McGuin said, but the announcement of such a major investment indicates the developers’ high level of confidence in the future of the local economy.

“It’s not a booming market right now, so they are obviously looking towards the future,” he said. “I’m sure that they will have some success with that property.”

Taylor.macpherson@jpbg.ca

On Twitter: @TMacPhersonNews