Commercial and Industrial Development study highlights opportunities for future land development and economic growth
May 8, 2017
Economic Development Lethbridge (EDL) has released the findings of a Commercial and Industrial Development study conducted by MXD Development Strategists in partnership with the City of Lethbridge and Lethbridge County. This study, which began in Fall 2016, was conducted to assess and define the optimal mix of land uses for development in Lethbridge and the Urban Fringe are of Lethbridge County over the next 20 years. The detailed report also provides recommendations for future land use and development that balances market, economic and planning considerations based on area indicators and global market trends.
“As we move towards a population of 100,000, it is more important than ever to plan for future development,” says City of Lethbridge Mayor and EDL Board Vice Chair, Chris Spearman. “This study helps to provide us with a stronger understanding of how we can accommodate growth both locally and regionally for many years to come.”
The report offers an analysis related to five key sector areas divided into North, South, West, Downtown and Urban Fringe, outlining specific strengths, challenges and future development opportunities. In order to maximize these opportunities, build upon the region’s economic strengths, foster entrepreneurship and trigger development within an emerging or expanding economic sector, the following four catalytic projects have been presented to prompt discussion:
“There is always added value created when we can work collaboratively to gather information and prompt informed discussions,” says Economic Development Lethbridge CEO Trevor Lewington. “With constant evolution to the way we live, work and enjoy our space, staying connected to the changing economic environment and land use trends will help us plan for a bright future.”
The Commercial and Industrial Development study builds on the foundation of knowledge established in a Trade Area Analysis project conducted earlier in 2016. MXD was also able to leverage a wide body of existing knowledge available through key strategies such as the City of Lethbridge & Lethbridge County Intermunicipal Development Plan, Downtown Lethbridge Area Redevelopment Plan, Lethbridge Community Outlook 2015-2022, Arts Profile Lethbridge and other related market data. The full report is available online.
“As we move towards a population of 100,000, it is more important than ever to plan for future development,” says City of Lethbridge Mayor and EDL Board Vice Chair, Chris Spearman. “This study helps to provide us with a stronger understanding of how we can accommodate growth both locally and regionally for many years to come.”
The report offers an analysis related to five key sector areas divided into North, South, West, Downtown and Urban Fringe, outlining specific strengths, challenges and future development opportunities. In order to maximize these opportunities, build upon the region’s economic strengths, foster entrepreneurship and trigger development within an emerging or expanding economic sector, the following four catalytic projects have been presented to prompt discussion:
- Food Hub & Processing District
- Lethbridge Central Market
- Lethbridge Innovation District
- Multi-purpose Performing Arts Centre & Convention Facility
“There is always added value created when we can work collaboratively to gather information and prompt informed discussions,” says Economic Development Lethbridge CEO Trevor Lewington. “With constant evolution to the way we live, work and enjoy our space, staying connected to the changing economic environment and land use trends will help us plan for a bright future.”
The Commercial and Industrial Development study builds on the foundation of knowledge established in a Trade Area Analysis project conducted earlier in 2016. MXD was also able to leverage a wide body of existing knowledge available through key strategies such as the City of Lethbridge & Lethbridge County Intermunicipal Development Plan, Downtown Lethbridge Area Redevelopment Plan, Lethbridge Community Outlook 2015-2022, Arts Profile Lethbridge and other related market data. The full report is available online.