THE City of Terrace announced today that it has sold a 2.79 acre portion of the Terrace Co-op lands to a Calgary hotel developer for $877,500.
The company, Superior Lodging Corp. of Calgary, wants to build what it describes as a midscale establishment for business and travel, said company vice president Eric Watson.
“We're looking at approximately a 100-room hotel, meeting space between 1500-2000 square feet with an indoor pool and cool waterside and fitness centre with pretty high end equipment with some retail,” Watson said.
“We like the economic growth prospects of the region, that's really why we are there. There are a lot of older motels so there was the opportunity to bring something fresh and new and modern into the market place.”
Watson hopes to begin construction next spring but first has to wait for the city to obtain an environmental clean bill of health on the property and to subdivide the property.
The hotel will most likely be four storeys high though that could change, Watson said.
A local business group wants to build a brewery on another section of the Co-op property and that raises the potential of developing a business relationship, he said.
“We'll be looking for local trades for sure and pulling people in from all over the region as much as we can,” Watson said of the workforce Superior will need to construct its hotel.
A city-organized committee struck to determine uses for the property began looking for interested hotel developers last year before settling on Superior as a likely candidate.
Superior Lodging seemed the most committed to the Terrace community, said Heather Avison, the city's chief administration officer.
"The sale does include some of the property where the CoreSTORE is currently located so it will be impacted ..." Avison added.
The parcel of Co-op land is located between Kalum and Emerson on Greig with the west end left for the Skeena Brewery development and the east corner for a future public plaza.