There is already a lot of heavy equipment working in The Yard District with vehicle dealerships, strip malls and a large hotel already a go. (Susan McNeil/paNOW)

By Susan McNeil

THE YARD

Businesses snap up properties in The Yard

Jun 9, 2022 | 4:20 PM

The new development on the south side of Prince Albert is being bought up with car dealerships, restaurants and a 120-room hotel already in the works.

The Yard is the land currently under development along Highway 3 and where the City of Prince Albert plans to locate two new hockey arenas and an aquatic centre.

Rusty Clunie of Signature Developments said even he underestimated the demand.

“I probably didn’t think we’d be as far ahead as we are, to be honest with you,” he said. The company has yet to start a national selling campaign, but they are getting a lot of attention from large companies regardless.

“It’s got a lot of interest from some additional major players that it’s looking very favourable that by the end of the year we’ve got even more of the development sold out,” said Clunie.

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Some of the planned development includes strip malls, two vehicle dealerships and a Holiday Inn Express.

The entire development is about 65 per cent sold out, said Clunie.

“The Yard District has had a lot of sales. In fact, the parcels and the land pretty much from A&W all the way to John Deere has been sold out except for two parcels,” Clunie said.

Even with increased costs faced by some groups – such as the City of Prince Albert which is in the process of trying to approve an additional $40 million to build the arenas and pool – the interest is still huge, something Clunie attributes to things like the re-opening of the pulp mill and start of an OSB mill and expansion of the Victoria Hospital.

“They just see a huge opportunity in Prince Albert. It’s exciting. There’s a lot of things coming to P.A. and it’s a growing centre and they want to be here to take advantage of it all,” Clunie explains.

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susan.mcneil@pattisonmedia.com

On Twitter: @princealbertnow