The town, located near Jasper, boasts established industries with its pulp, lumber, oil and gas production, with high employment levels.
Its natural landscape is an ideal setting for outdoor adventures, pivotal in attracting new residents to the area. In a bid to protect and promote the region, officials have designed a sustainable plan for the next 27 years, which includes improving its range of services and amenities.
Hinton’s house prices have skyrocketed in recent years due to limited stock supply, and the new mine, which is expected to attract 2,200 workers and families to Hinton and surrounding areas. The mining developers predict that at least 778 homes will be needed to accommodate this influx in Hinton alone.
New developments are under construction just north of Highway 16, adjacent to Drinnan, the Thomson Lake area and near Mary Reimer Park, to meet this new demand for short and long-term workers.
Many workers are expected to migrate to Hinton on a short-term basis and investors are keen to capitalize on the long-term stability of the region.
“Ever since the project was announced, we have received a lot of interest from investors who want to get into the market now,” says George Higgerty, agent with Re/Max 2000 Realty. “Rents are relatively high in the area, so the rate of return is favourable.” A single-family home can now command a monthly rent of $1,500.
A new development of duplexes and multi-unit houses, ranging from the $300,000 mark, are also under construction on the edge of the town, which would be suitable for those workers staying on a short to long-term basis.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Lachine, Morris Island, Finch, Paradise, York