Tranquille Bringing $608 Million, 441 Full Time Jobs, & 4,340 Person Years of Employment to Kamloops
IMMEDIATE RELEASE: The Tranquille lands redevelopment project will contribute an estimated $608 million to the Greater Kamloops economy and the creation of 4,340 person years of full-time work over the 14 years of the project’s estimated build out. This is according to Urbanics Consultants Ltd, one of Canada’s leading consulting firms specializing in land development and urban economics, who were retained to conduct the Tranquille Economic Impact Assessment.
Tim McLeod, Project Manager says, ““Impressive as these economic numbers are, and they are very impressive, they pale in comparison to the unique health and wellness living experience that the New Tranquille will bring to Kamloopsians and the local ecosystem in our post Covid World”
During the course of its build out, it is estimated the Tranquille development will have contributed the following to the Kamloops economy:
• 4,340 full-time years of employment created by the development’s construction, operations, and marketing activities, averaging 310 jobs per year over 14 years
• $608,000,000 added locally to British Columbia’s GDP
• Annual municipal property tax revenues of $5,400,000 and annual regional district property tax revenues of $330,000
• Annual provincial property tax (hospital and school taxes) revenues of $2,600,000 and Property Transfer Tax revenues of approximately $12,600,000
• Permanent full-time employment increase of 441 jobs
• Annual spending at local retailers of $62,000,000
The Tranquille development is situated within the City of Kamloops on 469 acres on the North shore of Kamloops Lake and is designed as a ‘light on the land,’ family-friendly agrihood and waterfront orientated community with a variety of housing typologies and supporting infrastructure occupying approximately one quarter of the Tranquille lands, with the remainder of the lands devoted to farming and nature reserves. The development will include neighbourhood-scaled retail, a waterfront inn & pub, a developer- financed community centre, subsidized daycare, an active and sustainable farming enterprise & winery, a wild salmon conservation program, extensive public trails along the Tranquille River and Kamloops Lake, a boat launch and docks, a new public park on Cooney Bay, and an electric bus service connecting with existing municipal bus routes.
For more information:
For a copy of the Tranquille Economic Impact Assessment study: firstname.lastname@example.org
The Ignition Group, developer of the Tranquille property, is a privately held group of Western Canadian companies with over 45 years experience in real estate development. Among many others within British Columbia projects include, Nico Wynd Estates in South Surrey, West Minster Quay in New West Minster, the Vancouver Mandarin Hotel, the 4th Street Sky Train Station in New West Minster, and First Canadian Place.
Urbanics Consultants is one of Canada’s leading firms of land economists consulting companies offering real estate analysis, planning and implementation services, for all forms of retail, residential, office, industrial, recreational, and other land uses throughout North America and around the world.