Building business
Town of Kensington buying 62 acres for future industrial park
KENSINGTON – Today it’s a potato-strewn field of mud, but it is set to become the economic heart of the Town of Kensington.
Town council has approved an agreement in principle for the purchase of 62 acres of land it intends to develop into a new business/industrial park.
It’s hard to understate how important this deal is for the community’s economy, said Mayor Rowan Caseley.
“I’ve been working on this directly for at least two years now,” said Caseley.
“This is the closest we’ve come and I’m looking forward to it coming to completion.”
The community’s current industrial park has been largely full for years and there is little, if any, commercial retail space available in town.
Council has identified the construction of a new industrial park at the top of the wish list for several years now.
It’s listed as number one of
“It’s a strategic investment in the long-term growth of our community. We see many potential positive benefits of increasing our commercial assessment in our community. (It) will be a large contributor to the long-term sustainability of Kensington and the area.” Geoff Baker
the priorities list in the town's recently developed strategic plan.
The land is divided into two lots, one 50 acres and another 12 acres. The plots are behind the Trailside Plaza and Pine Acres RV off Route 2.
Council has authorized the borrowing of $540,000 to buy the land.
It’s a huge investment for a town Kensington’s size, said
Geoff Baker, the town’s chief administrative officer.
“It’s a strategic investment in the long-term growth of our community. We see many potential positive benefits of increasing our commercial assessment in our community,” said Baker.
“(It) will be a large contributor to the long-term sustainability of Kensington and the area.”
There are, however, several proverbial hoops the town has to jump through before construction can get started.
The land is just outside the town’s current boundaries so council will have to start an annexation process to bring them inside.
The town also has to get approval from the Island Regulatory and Appeals Commission to take the land out of agricultural production.
Finally, the town intends to work with provincial and federal partners to fund aspects of the project and to attract development, so some kind of working partnership arrangement will have to be nailed down.
It’s going to be a lot of work, but the town is hoping to break ground within a year.
“There is a pressing need for it. So I think as staff and council it’s probably our highest priority moving forward in the short term,” said Baker.