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County of Grande Prairie tops Western Investor real estate destinations list

The County of Grande Prairie has ranked number one on the Western Investor’s annual list of the top five destinations for real estate investors in 2021. Manager of Economic Development for the County of Grande Prairie, Chris King, says the County hopes the recognition will help put them on the radar of potential investors both within Alberta and throughout Canada.

“It was good news for us. We’ve been hearing anecdotally from others the region is still very attractive for investment, given a lot of the activity that’s still going,” he says. “Although locally we see things maybe are a little slower than they have been in the past, in the big picture in terms of all of Canada, we’re still quite busy compared to a lot of other regions.”

He adds the real estate potential in the area, not only for oil and gas development but for construction and retailers is a sizeable carrot to dangle.

A combined population of nearly 100,000 between the County and City of Grande Prarie, as well as a trade area of approximately 290,000 people within 200-kilometres, he estimates generates roughly $1.4 billion in retail spending annually.

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“From a real estate perspective, there’s a lot of growth opportunity here and the County is, we’ve been fairly proactive in terms of [our] development approach, getting land zoned in advance, in anticipation of increased growth,” he says. “It makes it easier for investors— shorter time frames for development is something that’s really important to them.”

King adds the County has been making an effort to more actively promote itself at functions such as trade shows, prior to COVID-19, as well as meeting with larger development groups and real estate trusts.

“There’s been a lot of positive interest in the County, the issue is we weren’t known.”

“We weren’t really getting ourselves out in front of investors, in front of that real estate market and over the last few years we’ve really shifted into actively promoting ourselves to that group,” he says.

King explains hopefully topping Western Investor’s list will draw attention to, and get people asking about opportunities in the County.

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