Image Credit: The Ignition Group

By James Peters

Tranquille Project

Tranquille project would add $600M+ to Kamloops-area economy: developer

Jun 15, 2021 | 3:36 PM

KAMLOOPS — The developer of the Tranquille lands on the shore of Kamloops Lake says the project would contribute more than $600 million to the area economy during its projected 14-year build-out window.

The Ignition Group’s recently-commissioned economic impact study predicts the project would create an average of 310 jobs per year over that time, and would spur a permanent full-time employment increase of 441 jobs.

“We recognized no one has ever looked at this property from the point of view of, if developed, what could it bring to Kamloops?” Project Manager Tim McLeod told CFJC Today. “So we said, ‘Let’s really dive into this to understand it for ourselves and also for the community.'”

Results of the study, which was completed by Urbanics Consultants, were released to the public Tuesday (June 15).

SOUND OFF

SOUND OFF: David Eby must scrap his failed decriminalization experiment

15h ago

One Man's Opinion

COLLINS: Lansdowne project a nightmare to deal with

20h ago

Sound Off

SOUND OFF: Feel good about growing food indoors

May 01, 2024

The study says the development would $5.4 million annually to the City of Kamloops’ coffers through property tax revenue, with another $330,000 going to the Thompson-Nicola Regional District each year.

“We knew numbers were big; we didn’t know what ‘big’ meant,” said McLeod. “I don’t think I would say we’re surprised because the developer has done a lot of development over 45 years, but… for me it was a bit of a surprise being a project manager — in a very positive fashion.”

Image Credit: The Ignition Group

Kamloops council moved the Tranquille on the Lake Neighbourhood Plan through third reading in 2012, but agreed to hold off passing it at McLeod’s request. He cited market conditions and costs at the time for holding up the project.

McLeod says Ignition took over about three years ago, hiring him to continue managing the property.

According to McLeod, the developer is now looking to get the ball rolling again, revising 2012 plans to reflect the reality of 2021.

“What we’re wanting to do is take that beautiful master plan drawing and take it from a drawing that looks kind of grandiose and start putting content underneath it, saying let’s interpret what you’re seeing down into benefits,” said McLeod.

“We’re coming back over these coming months to that comprehensive zoning plan, picking up where we left off, amending it to update it to today — 2021, not 2012 — and then also having a public engagement process so we can get feedback from the public and get a sense of what people think about this.”

McLeod finds the enthusiasm for the project offered by the Lower Mainland-based Ignition refreshing, saying Kamloops is an attractive market to outsiders.

“They’re passionate… and they’re very keen on Kamloops. When you’re in Kamloops, you don’t realize how others view it from the outside but, coming from the Lower Mainland, they just feel Kamloops has a terrific future.”