Commercial development is planned in the area outlined in red neighbouring the aquatic and arena recreation centre shown in the bottom left. (submitted photo/Signature Development Corporation)

By Alison Sandstrom

Development

Hopes for entertainment district to be built in tandem with new rec complex

Jul 18, 2020 | 9:19 AM

As we learn more about the plan for the phase one of Prince Albert’s multimillion-dollar rec centre, we’re also hearing about construction plans across the surrounding entertainment district that’s expected to grow in parallel.

Last month, city council approved the purchase of 18 acres of land for the new facility from a larger 80-acre parcel owned by Signature Development Corporation.

The deal kick-started the fulfillment of a plan Signature Development Corporation has had for the property for a number of years.

In a media release the company said it bought the land in 2013, with the long-term vision of developing it into a premier entertainment district and one-stop destination for year-round recreation.

“It’s fantastic to finally see the opportunity for this development to get some legs under it and get going,” Gord Broda, president of the Signature Development Corporation, told paNOW.

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Broda explained Signature Development Corporation will service the entire 80-acre parcel, then sell lots to potential clients including restaurants, hotels and retail groups.

Like the city, Broda sees the project as an engine of major economic growth in the region and said it’s important to involve as many local people as possible in that boost.

“We have a deep desire to allow and provide for local development by other businesses, developers, contractors and tradesmen,” he said.

Work is expected to begin on the property later this month. Broda said it will likely take around a year for Signature Development Corporation to get the land serviced, clearing trees, grading and putting in major artery infrastructure.

Discussions with potential clients who could buy lots and build in the new entertainment district are ongoing and there’s been significant interest, he said.

Opening dates of businesses in the district are expected to coincide with the opening of the new aquatic and arena recreation centre in fall of 2023.

A bustling entertainment district is key to the success of the broader development. The city plans to use the taxes from those businesses to offset the debt it will incur building the recreation facility.

The city of Prince Albert plans to borrow $16 million to pay for its portion of the $60 million project. The federal and provincial governments will cover $44 million.

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alison.sandstrom@jpbg.ca

On Twitter: @alisandstrom