The HIVE building in Kamloops (Image credit: CFJC)

By Connor Gunn

THE HIVE PROJECT

The HIVE ‘a game-changer’ to bring people and business to downtown Kamloops

Jun 16, 2022 | 4:05 PM

KAMLOOPS — A new business centre in downtown Kamloops held its grand opening Thursday (June 16). The HIVE is a new addition to downtown after being in development for nearly a decade.

The developers’ goal is to bring people and businesses alike to the downtown area and grow the city.

The first of three planned buildings is completed and Invictus Properties Vice President Bryan Pilbeam says this will make downtown more vibrant.

“Business can be good for social issues. There’s going to be improved tax space that comes from this. There’s going to be people that are here that care. We look forward to working with the city to improve downtown Kamloops. We know it’s already great but it’s going to get better.”

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Howie Reimer with the Downtown Business Improvement Association says this project will revitalize the area.

“This is just a game-changer. It’s going to be transformational to see a premier business district all within one building revitalizing our downtown, bringing more vibrancy and will attract business leaders from everywhere.”

The developers say the City’s revitalization tax exemption for building The HIVE was essential in the decision to go ahead with the project.

“Very appreciative of the City and council’s leadership on implementing a tax revitalization credit which really made this possible. The building wouldn’t be constructed otherwise. It just wouldn’t have been feasible for tenants to pay what they would have had to without that,” adds Pilbeam.

“The revitalization tax exemption is healthy policy, strong policy and policy that supports development. From the lobbying of these organizations, that’s what makes our jobs as elected officials easier,” says City Councillor Mike O’Reilly.

O’Reilly adds, in order to bring more people to Kamloops, there also needs to be housing downtown. The project’s two other buildings will include a large number of residential suites.

“On the living piece, we’ve introduced the revitalization tax exemption for multi-family developments to start being built and that was close to a decade ago. That’s been changed and modified over the years but as we start seeing densification, I believe we are strongly on the path to getting the living part,” says O’Reilly.

Proponents of The HIVE are optimistic about what the project means for the city.

“I think this is just one building block for the greater plan for downtown Kamloops. We’ll continue to bring energy — bring people — and the vision for The HIVE was always live, work and play,” said Pilbeam. “We’re adding more living downtown in Kamloops. This is the work piece of it and there’s more to come.”