and Sylvan Lake leadership is busily
working on an annexation plan that would
open up 900 acres of additional lands and
create space for the imminent residential,
commercial and industrial needs.
Traffic and pedestrian counts are under way
and a retail market analysis is planned for
2015. Kurz says one of the other goals is to
add significantly to the existing roster of
229 hotel rooms in the town through the
development of a business case. That
number needs to get closer to 400-plus, she
said, to warrant development of a
convention facility and to accommodate
overnight visitors.
“The town's focus is on building a complete
community,” Kurz says. “Investment
attraction efforts will revolve heavily
around industrial and commercial growth.
The planning and development division is
undergoing a significant shift towards this
effort with a review of the land use bylaw
andother statutory documents.”
In terms of brick-and-mortar projects, the
$25 million NexSource Centre downtown
is in the schematic design stage and could
see a construction start sometime next
spring – with an estimated working time of
16 to 18 months before completion,
according toProjectManagerDavidYee.
Keeping the new complex downtown will
contribute to the revitalization of the town's
business center, a lure for the youth, families
and sports tourism enthusiasts, Kurz says,
and planned amenities include replacement
July-August 2014
| BusinessWorld | 55
