News Release

Bayers Lake Business Park Growing to Meet Demand

(Thursday, April 7, 2011) - A land transaction approved by Regional Council this week will see close to 200 acres of new lands developed in the Bayers Lake Business Park.

The Bayers Lake Land Development Opportunity was publically advertised in late 2010 with the objective of selecting a proponent prepared to undertake the purchase and timely development of the site including the provision of all public streets and services at the developer’s expense.

On Tuesday April 5, Council approved the award of the project to BANC Developments Limited for approximately 180-190 acres of land. BANC’s proposal will see the lands developed over a series of phases for retail and commercial uses. The price paid by BANC cannot be disclosed until the deal closes.

“This project will generate significant economic benefits in the form of retail sector growth, construction, employment, and commercial property taxes.” said Mayor Peter Kelly.

HRM’s Business Parks are major employment centres serving the municipality and the region. As the economy continues to grow, and the municipality’s commercial base expands, the pressures on business parks such as Bayers Lake to accommodate the demand for large serviced parcels and a range of business uses increases.

“The new infrastructure and growth was identified by the public and the Bayers Lake Business Association as a critical piece to improving the existing traffic capacity issues in the park and along Lacewood Drive,” said Mayor Kelly.

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Contact:

Mayor Peter Kelly
490-4010