Downtown Prospectus and Marketing Plan Ready to Roll
By 250 News
Thursday, January 20, 2011 04:00 AM
Prince George, B.C.- It has been in the works for more than a year, and tomorrow Initiatives Prince George is expected to roll out the Downtown Prospectus.
This is the plan to market property in the downtown to potential investors.
IPG Vice President Economic Development, Kathy Scouten, says they hope to begin their marketing activities this weekend. “We are really looking forward to gauging the response when we take the prospectus out. We’re also taking properties realtors have in the downtown so we’ve got a great product to take out there and we’re expecting to get interest ( in the prospectus) given the state of the economy and given the state of our readiness to move forward with developers.”
The prospectus will be made available through a number of different forms, including electronic, digitally and paper copy. “We’re encouraging all the realtors that are representing downtown properties to pick it up and use it to support their own efforts.”
Scouten says initially, the opportunities will be marketed to investors in the Vancouver market “That’s the money we feel will be interested in the downtown. So in addition to the efforts that have been on going with the local community, that will also enhance our external marketing efforts.”
Scouten isn’t ready to reveal any of the details of the plan “I think it will be impressive, I think people will be interested to see that this is a product that is developed, it is ready to go we have the Canada winter Games to market along with our downtown, the athletes village will be downtown, we have economic indicators, the metrics of our vacancy rates are moving us in the right direction so, it will be a good product.”
The marketing plan and prospectus have been on the list of projects the Downtown Partnership identified as needing to be done on a sooner rather than later basis. IPG pumped $50 thousand dollars from the proceeds of the sale of the former “LiveBridge” building on 2nd Avenue into the development of the prospectus.
The City has been working on developing an incentive package to encourage downtown development. The details of that package have yet to be revealed.
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