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PeeverConn Properties
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Secondary Target Market Overview
Chilliwack
As you drive into Chilliwack the sign reads “The Place Where Business Grows” and they stand behind that statement. In 1998, Chilliwack transferred its economic development initiatives to the Chillwack Economic Partners Corporation (CEPCO); A publicly funded, Private Corporation to whom much of the thanks for Chilliwack’s current success can be attributed. Chilliwack is one of the fastest growing communities in B.C. with a population of 80,892 in 2007 growing steadily at 2% per year. Chilliwack also claims a cost of living of 35% less than Vancouver and housing prices of up to 50% less. The 35 million dollars being spent on the Chilliwack hospital upgrades in 2010 will create 1400 jobs; massive companies such as Ritchie Brothers and Langley Concrete have also recently located to Chilliwack to take advantage of the lowest business tax rates in the lower mainland and a skilled and available labour force. The policies and tax rates of Chilliwack will continue to attract world class businesses to the area. Eagle Landing, a development now under construction a short distance from the Mellard St Apartment is a 700,000 square foot “Super Center” with anchor tenants already under contract such as Wal-mart, Home Depot, and Cineplex Odeon. This will have a huge impact on the community and offer many mid and long term employment opportunities. The city of Chilliwack is even offering an exciting incentive for developers in the downtown core that we may qualify for which results in freezing the properties tax assessment for five years! Chilliwack is growing on a consistent basis and is also perfectly situated to benefit from the ripple effect of its thriving neighbours such as Abbotsford, Surrey, and Langley. Chilliwack is positioned as the “end of the line” for the urban sprawl in the Fraser Valley and is now known around the world as one of the most beautiful and free places to live on earth. Job growth is on a strong rebound here with a recent announcement by Stream International, a telecommunications and technical support call center, to hire 400 new employees. “Destined for long term growth and stability” Mission
Mission is fortunate to have a pro-active and progressive mayor and council and enjoys a healthy annual growth rate of 3%. Mission is also very unique in owning a massive 10,000 hectare district forest to help subsidize tax increases. With a current population of roughly 40,000 people, Mission is expected to grow to over 100,000 upon full grow out. This growth is well underway with such developments as the Cedar Valley and Silverdale residential developments; each over 1,000 acres respectively. Even more exciting news is the large Solterra commercial development of 40 acres supporting the residential explosion with well paying employment opportunities. Mission also has extraordinary plans of developing one of the last major waterfront developments in the lower mainland just south of its downtown core. Maple Ridge
A very popular area to live that is poised to benefit hugely from the 1 billion dollars the provincial government is spending on transportation improvements such as the Golden Ears and Pitt bridges. These projects will finally open up the area to population growth and increased goods and services being traded more efficiently. Currently 65% of residences commute to work in other communities. Once the bridges are completed in mid 2009, further residential, commercial, and industrial developments will occur leading to job creation and new investment within that will benefit the increasing population of the region.
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