“Very strong provincial home sales continued in August,” said BCREA Chief Economist Brendon Ogmundson. “While pentup demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall.”

CLICK HERE for full report

August 27, 2020 // Franchising.com // Prince George, B.C. - Hyatt Place Prince George, the first Hyatt Place branded hotel in northern British Columbia, is officially open, expanding the Hyatt Place brand’s footprint globally in markets that matter most to guests and World of Hyatt members. The new, five-story hotel features the Hyatt Place brand’s intuitive design, casual atmosphere and practical amenities, such as free Wi-Fi and 24-hour food offerings. The hotel is owned and operated by Mundi Hotel Enterprises, Inc.

Because Hyatt’s efforts are grounded in listening and fueled by care, Hyatt Place hotels combine style, innovation and 24/7 conveniences to create an easy-to-navigate experience for today’s multitasking traveler. The hotel’s downtown location is within fifteen minutes of the airport, and is steps of government offices, dozens of restaurants and the Prince George Conference and Civic Centre. Nearby attractions include Rolling Mix Arena;...

The BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's progress toward a "new normal," we benchmark each indicator to February 2020, the month before the pandemic was declared. This dashboard will be updated each month.

Here is link to full report

Northern British Columbia is on the cusp of a massive transformation, says Ken James, president and CEO of West Coast Olefins Ltd.

James, who has spent his career traveling the world working in the energy sector, believes the next big thing in energy is right in his backyard in Prince George.
“Typically, these projects are driven by cheap feedstock,” said James. “What has happened in the last decade is the cheapest feedstock is actually in North America. And the cheapest in Western Canada and B.C. is on the doorstep to the biggest and fastest-growing markets in Asia.”

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Vancouver, BC – August 13, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,090 residential unit sales were recorded by the Multiple Listing Service^® (MLS^®) in July 2020, an increase of 26.6 per cent from July 2019. The average MLS^® residential price in BC was $770,810, a 12.9 per cent increase from $682,702 recorded the previous year. Total sales dollar volume in July was $7.8 billion, a 43 per cent increase over 2019

Click Here for pdf full information.

• the residential eviction ban will be lifted before September 1 (which means full rent will be due in September)
• late payments during the emergency period aren’t considered cause for eviction and a tenant can’t be evicted for unpaid rent during the emergency unless they have defaulted on their repayment plan,
• tenants who have fallen behind in their rent will have until July 2021 to pay it back, as long as they make monthly installments (landlords can’t charge late fees),
• the first installment will be due 30 days from when the landlord presents the repayment plan – probably October 1 for most tenants, and
• landlords and tenants can still negotiate additional terms, as needed.

Although listings activity has normalized along with sales, active listings are still down close to 20 per cent year-over-year and, as a result, many markets are seeing upward pressure on prices.

Press Here to download and view the full report (.pdf file)

As a result, total MLS® unit sales in the region covered by the BC Northern Real Estate Board fell by 30 per cent in the second quarter year-over-year. Despite the pullback in demand, prices increased by two per cent year-over-year due to an 18 per cent year-over-year decline in active listings as potential sellers put off listing their properties. At the end of the second quarter, the MLS® average price was $329,364.

Click Here is full article from PG Daily News

“With the PTD program, the province pays the property tax on behalf of the senior directly to the local government. The senior homeowner does not need to pay back the money to the province until the property is sold,” said Mackenzie.

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Down 8600 jobs in the Cariboo Economic Development Region in April 2020. Other Services (except Public Administration), Wholesale and Retail Trade, Transportation and Warehousing are the main industries creating new jobs.

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The BC Hemp Corporation says it will be building a $2 billion biofuel plant in the BCR Industrial site in Prince George.

Announced on a Facebook Live stream Thursday night (May 21) hosted by the BC Resources Coalition, the 300-acre site is the same one West Coast Olefins gave up when it decided to relocate to McLeod Lake.

BC Hemp president Remi Balaj made the announcement during the live stream and said they are looking to start construction in six to 12 months.

The bioethanol plant could employ around 2,500 people when fully operable. They would use hemp stock extract to produce medical and industrial-grade ethanol, which is ethanol is an important industrial chemical; used as a solvent, and as an additive to automotive gasoline.

CLICK HERE for full PrinceGeorgeMatters.com article

PRESS HERE for Prince George Citizen article

Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the monthly analysis covers several areas, including employment rates and numbers, real estate developments and transactions, building permit values, business license applications, and airport passenger statistics.

PRESS HERE for full details

Prince George’s new pool will be an attractive and accessible facility, which will help welcome visitors to the downtown while enhancing the City’s aquatics offerings for residents of all ages and abilities.

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By: Hanna Petersen

Prince George’s The Exploration Place is receiving national attention for its exhibits, this time as part of a TV series called Dino Trails.

The show, now on Amazon Prime Video, focuses on the newest discoveries of dinosaurs and fossils in B.C. and Alberta — and the tourism that results from them.

The northern B.C. episode features both The Exploration Place and the Six Peaks Dinosaur Track Site near Hudson’s Hope.

“We came to Prince George to film the dinosaur tracks that are on display and in the collections of Exploration Place. The dinosaur footprints exhibit is fascinating and easy for all ages to understand and enjoy,” says Brandy Yanchyk, the series creator, in a press release.

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Reports show building permits are already at their highest levels ever and there’s still a long list of projects awaiting approval or scheduled to be built. Two recently published forecasts – one by the city and another by the Conference Board of Canada – indicate that the growth will continue despite a slump in forestry.

Press on link below for full read:

https://canada.constructconnect.com/joc/news/economic/2020/01/prince-george-building-boom-reaches-record-levels

Image by: Eurydemus (as per link to info Click Here)

1.  Forestry, Wood Products, and Bio Products
2. Transportation, Warehousing, and E-Commerce
3. Manufacturing: Machinery, Chemical, and Food
4. Professional Services: Engineering, Environmental Services, and Resource Management
5. Construction: Commercial, Industrial, Residential, and General Contractors

PRESS HERE for full 8 page report.

It’s no secret that Prince George quickly becomes a second home for those who venture to the city a career, meeting new people and claiming a northern family.

In the case of Nolan Blasko, he left the comforts of Stouffville, Ont. to take an account executive position with the Prince George Cougars this past summer and has since established the organization and fellow colleagues as his new family.

When he was tasked to finding a sponsor for the 2019-20 season’s Family Day game, he said CN Rail made the most sense as the company’s name is stamped to the arena.

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Press on link for full report - https://myemail.constantcontact.com/The-latest-economic-data-highlights-for-Prince-George-.html?soid=1126248439379&aid=rXQxZFqxvAM

PrinceGeorgeMatters

Norm Coyne hopes to lay down that stronger foundation for young aspiring filmmakers in Prince George and across northern B.C. as he and his UNLTD Media and Events team have unveiled the Great Northern International Film Festival (GNIFF).

The four-day event set for September next year will showcase local, regional and international artists’ work with over 100 films expected to play on the silver-screen in an Oscars-style setting.

Coyne is confident this festival, which has been in the works for the past two years, has the potential to bring unseen movie-making skills in Prince George into the spotlight and encourage youth to network with industry professionals.

“For me, I’m like, I just want to make sure I’m doing whatever I can and accessing the youth is a great way to do that,” said Coyne when PrinceGeorgeMatters asked the question. 

Link to full article - Click Here

#PrinceGeorgeLIfe

Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the monthly analysis covers several areas, including employment rates and numbers, real estate developments and transactions, building permit values, business license applications, and airport passenger statistics.

Press Here for full report.

#PrinceGeorgeLife