REIBC

Webinar: Real Estate in the Northwest in the wake of LNG Canada's final investment decision
March 21, 2019 - 12:00pm - 1:00pm
Online
Adobe Connect
Vanouver
BC

Join us for a one hour webinar with Graham Pitzel from Re/Max Kitimat Realty to learn about real estate in the northwest! In October 2018 the largest private sector investment ever made in Canadian history made the decision to move forward with its $40 Billion LNG export facility in the small town of Kitimat, BC. With the expected workforce required to build the project to be larger than the actual amount of current residents in town, real estate investment in the area has become a very interesting proposition. The town of Kitimat has experienced similar growing pains when Rio-Tinto modernized their smelter approximately 7 years ago, and the effect on the market at that point was astronomical. This new LNG project is 10x the budget with roughly 3-4 times the manpower required which should have a heavy effect on home sales and rental availability in the town of just 7500 people.  Take a look at a snapshot in time of the current effects on home sale number and prices, and what can potentially be expected in the near future as this mega project moves into the construction phase. With other similar potential projects on the horizon, this small northern town has been likened to the be the next Fort McMurray. For more information:https://www.reibc.org/cgi/page.cgi/_calendar.html?evt=274