"[Anyone] opening up a service business that will support the many who will be moving to the area to build this project, or providing rental housing to them, or even hotels or furnished suites, which are already in high demand, is about to really feel the positive impact beginning in 2015," said Don R. Campbell, senior analyst at the Real Estate Investment Network (REIN).
The largest municipalities in the area are Dawson Creek
and Fort St. John
, already both popular with investors.
But Campbell advised investors to ensure they consider all the moving parts of this massive project, which is estimated to cost almost $8.8 billion, and not to be persuaded by negative press.
“One of the key ‘moving parts’ is the new philosophy that anyone who is ‘against’ an issue will be paraded across front pages, blog posts and electronic media," he adds. "It is a theme that has played out on projects across the country with increasing frequency.
“As the negative news keeps many more emotional investors out of the market, you can quietly make your strategic moves. This project is not slated to be completed until 2024 – that’s a nine-year run of GDP and job growth to the area and, if you position yourself properly, with proper budgeting, cash flow and a management plan, this could prove to set you up financially for a long time.
“However you wish to use this large infrastructure project, it is important to remember that this is not a straight line project – there will be ebbs and flows,” continues Campbell. “Secondly, because the region has such a small population, those ebbs and flows will be more dramatic than in larger centres, so budget and prepare for these changes.”
Look out for CREW
’s Feb/March issue, which features Don R. Campbell’s inaugural column on riding the inevitable waves of real estate investing.
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As the B.C. government approves the construction of the Site C dam on the Peace River, experts suggest that investors in the area will feel a positive impact as early at the beginning of 2015.