Revelstoke Crossing shopping centre would add $20 million to economy, developer says

Revelstoke Crossing project rationale says development would add $20 million to economy, create 400 jobs and increase property tax base.

The proposed Revelstoke Crossing shopping centre development would contribute $20 million and add 400 jobs to the local economy, according to a report by the proponent.

Hall Pacific is looking to develop the vacant property at the intersection of the Trans-Canada Highway by building a shopping centre that would include a grocery store and pharmacy as anchor tenants.

The proposal has sparked a spirited debate about the impact the shopping centre could have on Revelstoke. Some say it would boost the local economy, create jobs and draw people into town; others fear it would take dollars away from downtown businesses and turn Revelstoke into a generic highway town.

Hall Pacific is arguing the economic benefits to the town would be substantial.

In a project rationale provided to the Review by the city, the developer says the shopping centre would generate $20 million in economic activity, increase the property tax base by $500,000 per year, and create 200 short-term and 200 long-term jobs.

The developer argues the project would enhance a prominent highway location “in a manner that is representative of the form and character of this alpine community and marketable to highway travellers.”

The proponent also argues the development would provide a way to market the town to passing tourists who otherwise might not stop here. It would lead tourists to spend money in Revelstoke instead of elsewhere, and might also stop locals from making out-of-town shopping trips.

“Finally, as the site is bare land and fully serviced with both water and sewer, it allows for a new development of this scope to be financially feasible from a land acquisition and construction standpoint, which could not be achieved in areas of higher density,” they write.

The report says the development would create about 200 jobs during construction and another 200 permanent jobs once it’s finished.

The report makes use of the 2006 Revelstoke Retail Strategy to argue the town can handle another 67,000 square-feet of retail space. It would target locals and the millions of travellers who pass through town on the highway every year.

The report says the development would target national-level tenants that would bring in competitive pricing and a high-standard of quality that would benefit residents.

The plaza would include a mix of traditional and contemporary designs and would be built using materials such as cultured stone, acrylic stucco, cement fibre siding, coloured metal roofing and timberframe wood elements.

The developer has set an ambitious opening date of July 2017.

You can read the full project rationale below.

Revelstoke Crossing – Project Rationale by AlexCooperRTR

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