web design

Major PEI Development Projects

June 19, 2008 |Let's Tweet

Oran Canada called it a "minor blip". What is Dyne Holdings calling it?

"Campbell said he has approval to proceed with the project if the parking issue can be solved. The developers are due to break ground in March."

The Oran Canada project was to build $25 million worth of condominiums on top of the Waterfront Mall in Summerside. Now Dyne Holdings wants to build a $35 million hotel on top of the Confederation Court Mall.

If the Confederation Mall project does not go through, add them together and thats $60 million dollars in lost investment into our province by these two projects alone. And both would be for similar reasons, parking.

Add in the $40 million Ethanol plant squashed earlier this year and we're at $100 million in lost projects. These three projects would create a good economic boost for the local economies.

The amount of PST the provincial government would be collecting on all these projects should have our Provincial government standing up and say hey! Lets work something out here as these are major investments into our province. How often do $25 million dollar projects come along? Not very often, and when they do it seems the projects usually end up being scrapped. In the ethanol case, the province wanted to attract a major investor and offered up to $20 million dollars in government money. The company that wanted to build here, wanted $0 in government money.

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