Tuesday, June 05, 2007

Steady Brook getting four-star resort development

The Western StarConstruction on a four-star, high-end tourism complex could begin in Steady Brook as early as July 07.

An announcement of a 45 per cent resort property investment tax credit by the provincial government on Friday ushered in the news of the impending resort. “The new resort property investment tax credit sends a clear message to potential developers from the international marketplace — we have confidence in our tourism product and are eager to partner with industry players to continue to grow the tourism business base,” said Business Minister Kevin O’Brien in a release. “Our government will continue to make strategic investments in this industry to diversify our economy and to invest in rural areas that offer so much to our visitors to create a stronger and self-reliant Newfoundland and Labrador.
”Humber Seasons Limited, a new developer to the province, will be the first development company to participate in the new resort property tax credit, as it is now in the initial stages of developing the Steady Brook resort. The facility will be comprised of one main building containing 90 units, all suites, along with another five buildings containing 62 units, again all suites. The project has an estimated cost of between $25-$30 million and will be located near the entrance of the town, across from the base of Marble Mountain, on property formerly owned by the Basha family.
“To put that in perspective, compared to our town itself, our town’s total assessed value is only $30-million and this one piece of land will be home to a building itself that’s worth the same value as the entire town,” Steady Brook Mayor Tom Humphrey told The Western Star. “This is a clear example where government’s announcement (on Friday) created an opportunity in a rural area such as Steady Brook, which only has a population of 435 people, to put a facility of this magnitude there and take advantage of the tourism opportunity. ”It was no fluke Humber Seasons Limited selected Steady Brook, however.
“The location is really the key,” said Humphrey. “This resort will work with Marble Mountain, it will work with the businesses in the area that provide adventure tourism opportunities and it will create a stay-at-home opportunity for jobs. This facility will be a drawing card to this entire area.
”Humphrey predicted the project will begin within the next 30-60 days, as Humber Seasons Limited has a target for hiring and opening of September through November of 2008.
Full article, on The Western Star - 5th June 07

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