Thunder Bay’s economy might not be booming yet, but there’s still plenty of confidence to inspire investors to take a risk.
That’s exactly the decision behind one of the city’s latest commercial developments, says realtor Jack Mallon, speaking about the first of three planned 18,000 square foot retail strip malls being built on Waterloo Street on the city’s south side.
It’s not as bad as some people like to think, Mallon said.
“There’s a lot of misunderstandings about the Ring of Fire and everything else. But Thunder Bay, if you look at it, what we’ve gone through, we’ve changed our dynamics. We’re a knowledge-based community, we’re growing nicely and slowly,” Mallon said, explaining why the Coppin family decided to take a risk and build a lot that stood essentially vacant for years.
“We’re not losing any jobs. Everybody that’s here, I think, has a pretty good income and a pretty good lifestyle.”
Mallon said one simply has to look around the city at all the commercial developments being built to realize there is plenty of confidence in the marketplace.
There is a pair of hotels being built in the Intercity area and a new Pizza Hut location opened this week at the Power Centre. The hospital is adding a new multi-storey facility on its property and the Fort William Clinic’s new home is nearing completion on Golf Links Road.
Those are just a few examples, Mallon said.
“There’s a lot going on in Thunder Bay, creating a lot of jobs and making a powerful statement of where we’re headed as a community.”
The Waterloo facility has already inked a deal with Subway to house the chain’s newest franchise, and is finalizing deals with a professional and a financial institution to fill the other available spaces.
