At their first official business meeting on November 6, Chestermere’s new City Council accepted five Letters of Intent for companies to purchase approximately 11.5 acres in the City owned Webster Industrial Park.
“We are very pleased to see more interest in Chestermere as an economic hub and look forward to welcoming these new businesses to our community,” said Mayor Marshall Chalmers.
To date, the City has accepted Letters of Intent for almost 28% of the developable property. The newest businesses that will be joining the park are a small scale manufacturer and small scale warehouse/distribution centres.
“The conditional sale of these 11.5 acres represents a $5.75 million dollar direct investment in Chestermere, with a build out value of over $38 million,” says Jean-Marc Lacasse, the City’s Economic Development Manager. “This is significant progress in our efforts to increase the non-residential tax base of the community and we look forward to helping other companies find their home in Chestermere.”
In addition to facilitating interest for 1-5 acre fully serviced lots with the help of broker Colliers International, the City is currently working on a subdivision plan and detailed engineering plans for the industrial park.
Lacasse explains that the location of the development is ideal for companies specializing in professional and technical services, distribution and logistics, research and development and manufacturing.
The City purchased 101 acres of land in the southeast corner of Chestermere in 2015 to bring additional non-residential development to the community. It is anticipated that at full build out, the park will provide between 500 and 1,500 local jobs and generate $1 Million in taxes for the City each year. Tax revenues are not being used as a source of funding for this project.
Interested clients looking for land are encouraged to contact Brad Pilling with Colliers International at 403-571-8767.