The City of Cranbrook has purchased over 100 acres of land formerly owned by Tembec in the industrial park.
Bringing the land into the municipal fold will help bring strategic business and industrial opportunities to the city, according to a press release, which notes one of the biggest challenges to attracting industry is the availability of industrial zoned land.
“The Tembec land purchase has been an important goal for Mayor Lee Pratt, one that he has been spearheading for over 2 years and is proud to see it come to fruition,” reads the release. “The ongoing cooperation and assistance of Marcus Moeltner of Tembec and Tembec/Rayonier has been fundamental for the final transactions regarding the acquisition of these lands.”
The addition of the land is a step in the city’s Economic Development Strategy, which includes a transportation hub component.
“The City projects this will help in attracting new diverse industry and much needed jobs for our citizens,” reads the release. “Mayor Lee Pratt says he is already in discussion with six interested parties that are suited for the lands and will have an announcement soon on at least one of these opportunities.”
The city is hoping the land will help attract jobs and industry to the area, and Mayor Pratt says he is already in discussion with six interested parties that are suited for the lands and will have an announcement soon on at least one of these opportunities.
“Mayor Pratt would also like to thank the rest of City Council for their support and foresight regarding the Strategic Plan and long term vision for the future of Cranbrook,” continues the release. “Chief Administrative Officer David Kim’s expertise and experience in these type of developments will also be a huge benefit to the success of this project.”
The price of the land acquisition was not disclosed.