Financial future

Malpeque Bay Credit Union considering next steps for branch building

Kensington Town Council has tentatively approved a request from a local property owner to rezone a section of land for a new banking institution.

The property is just past the intersection of Sunset Drive and Route 2, across the street from Davison Funeral Home.

The property’s owner, G&P Developments, is the proponent of the rezoning.

However, it is making the request to suit Malpeque Bay Credit Union, which is interested in acquiring the property.

The current Malpeque Bay Credit Union building at 1 Commercial St. in Kensington is in need of a revamp, and its board of directors has started to plan for its future.

“Whether we build new or renovate is still uncertain. We have an architect hired who is developing concepts for both renovations and new construction.” Marc LeClair

Marc LeClair, manager of the institution, said recently that two options, renovation of the current building or construction of a new one, are being examined.

The land in question, when combined with two other adjacent commercially-zoned lots, has been identified as a possible new home for the credit union.

“Whether we build new or renovate is still uncertain. We have an architect hired who is developing concepts for both renovations and new construction.

“During 2018, the board will be considering both options, and we hope to arrive at a decision by the end of the year,” he said.

A public meeting was held in February to allow for neighbours of the property to express issues they might have.

Those in attendance were mostly concerned with light pollution at nearby residential properties and the potential for overflow parking on Sunset Drive.

A representative of the Credit Union assured residents that if the institution does decide to buy and build on the property, there would be adequate on-site parking and efforts would be made to reduce light intrusion on nearby homes.

Council was supportive of the rezoning, but some councillors expressed concerns about what could happen if the lot is rezoned and the credit union decides not to buy it and the two other plots.

The town would be left with three commercial properties potentially all with their own driveways on a problematic area of Sunset Drive.

Council will make a final decision on the rezoning request at its April meeting.