Carpere Canada says it is committed to developing a large industrial park in the City of Moose Jaw and has announced it is taking steps to extend an offer forwarded to city administration from June 1, 2020 to Dec. 31, 2020.
According to a press release from Carpere, the key business terms of the offer include:
- purchase of 244.68 acres immediately and another 388 acres within five years for just over $6.3 million ($10,000 per acre), including: a $632,680 non-refundable deposit;
- the commitment from Carpere to spend approximately $50 million to service the Lands, including storm water management, sewer and water, and roads; and
- payment of close to $20M to the city for development levies based on $49,600/acre, not including lands dedicated to roads, municipal reserves, residential buffers, and overhead power lines.
The offer provides that the City of Moose Jaw use a portion of the development levies paid by Carpere to build a new reservoir and lift station to service the southeast area, costing approximately $6 million. The lands would be developed into a large industrial park that is home to various food processing and tech facilities.
Carpere expects “favorable review and response” from City Council, as well as broad support from local businesses and the community for its investment initiatives.
Carpere says its vision remains to develop the area into an industrial park to attract more ag-value added processing companies to the city. The company adds it has already signed an MOU (memorandum of understanding) with a large ag-processing plant interested in setting up facilities in Moose Jaw. Carpere anticipates similar arrangements to be made with other potential investors.
Once the offer is accepted and supported, Carpere wants to invest millions of dollars by way of servicing infrastructure and development levies in relation to the proposed industrial park.
“We want to make Moose Jaw our signature Industrial Park in Canada – and our largest,” said John Zhang, Carpere Canada’s CEO, in a press release. “Moose Jaw is located in the heartland of the Prairies and is a perfect place for ag-valued companies from around the world to set up. Carpere truly wants to make this industrial park happen.”
In June 2019, Carpere purchased, and now operates, the Grant Hall. Carpere says they also plan to develop a major residential and commercial development near the industrial park, due to increased housing demand as a result of the new jobs that will be created by the industrial park.
In July 2020, Carpere removed conditions on an agreement, and will now purchase approximately 200 acres, known as Valley View Centre lands, from the Saskatchewan provincial government, with closing to happen on September 30. Carpere intends to maintain the buildings and re-purpose them for commercial use.
