Bay Roberts iden­ti­fies pre­ferred de­vel­oper

Two par­ties work­ing to­ward agree­ment

The Compass - - FRONT PAGE - BY NICHOLAS MERCER nmercer@cb­n­com­

Af­ter sift­ing through a num­ber of pro­pos­als, the Town of Bay Roberts has iden­ti­fied a pre­ferred can­di­date.

The pro­posal sub­mit­ted by St. John’s-based Pen­necon Limited was ac­cepted by the town.

Pen­necon Limited is de­scribed as the con­struc­tion arm of the Pen­ney Group.

Bay Roberts Mayor Philip Wood said the town is “very pleased” with the amount of de­vel­op­ment op­por­tu­ni­ties that were pre­sented to Bay Roberts.

To help vet the pro­pos­als, a busi­ness park com­mit­tee was formed con­sist­ing of town of­fi­cials.

“We’re very op­ti­mistic that things will go well with Pen­necon,” he told the Com­pass.

The next step now for the town is to ne­go­ti­ate a me­moran­dum of un­der­stand­ing with the pro­posed de­vel­oper.

The de­tails of Pen­necon’s pro­posal are a part of the ne­go­ti­at­ing process and are un­avail­able at this time.

Wood said both par­ties are in­ter­ested in work­ing out an agree­ment and mov­ing for­ward with the park. “We are very ex­cited,” he said. One of the rea­sons for that ex­cite­ment is that Pen­necon has also ex­pressed ex­cite­ment about get­ting an agree­ment signed and get­ting the pro­ject un­der­way.

“They are ex­cited about be­com­ing a part of the Bay Roberts and area com­mu­nity,” said Wood. “They have a lot of good thoughts, good ideas and good things that they plan on work­ing on and work­ing to­wards.

“We are op­ti­mistic that ev­ery­thing will come to fruition as quickly as pos­si­ble.”

Bay Roberts cur­rently has 60-acres of land sit­u­ated just off of L. T. Stick Drive, near Vet­er­ans Me­mo­rial High­way wait­ing to be de­vel­oped.

“We feel that they have the con­tacts and the ex­pe­ri­ence,” said Wood. “We’re hop­ing that it is some­thing that will trans­late into the busi­ness park be­com­ing a re­al­ity.”

Pen­necon is cur­rently in­volved in the 80-acre Oc­tagon In­dus­trial Park in Par­adise.

The op­por­tu­nity for Pen­necon to work with Bay Roberts came up when the town and Loblaw Properties Limited, who op­er­ate the Do­min­ion in Bay Roberts, were un­able to ful­fill dif­fer­ent parts of its let­ter of in­tent.

Cur­rently, there is no time­frame for when an agree­ment be­tween Pen­necon and Bay Roberts will have the me­moran­dum of un­der­stand­ing com­plete, al­though there are meet­ings sched­uled for this week.

Once a deal has been ten­ta­tively struck, it will be brought be­fore coun­cil for fi­nal ap­proval.

The Com­pass at­tempted to con­tact Pen­necon for comment, but was un­suc­cess­ful.

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