The arena/event centre will be built in the northwest portion of the city in Box Springs Business Park, on land donated by the park's developer. The building will be a major upgrade on the 43-year-old Medicine Hat Arena, with room for only 4,000 spectators.
Permits up
Even without major big-ticket projects formally starting in the first three months of 2013, Medicine Hat's building numbers are definitely up over last year.
According to the City of Medicine Hat, permits were granted for $19.75 million in new construction for the first three months of this year - an amount that's up roughly 73 per cent from 2012. The biggest increase is in new single-family homes, with 44 permits issued for $11.19 million for 2013 compared with only 19 permits for $4.77 million in the same period in 2012.
Home prices have remained fairly stable in the city, according to MHREB numbers, with 479 sales for the first four months of 2013 hitting an average of $252,773 - about $2,200 more per home than in the same period in 2012.
Of note, Medicine Hat's growth as a city of more than 61,000 has become more balanced geographically.
There are city-developed subdivisions on both sides of the South Saskatchewan River right now ($1.63 million will fetch you a four-acre multi-family lot, if you're looking to invest in Ranchlands on the north side), as well as opportunities for redeveloping in the downtown core.
from Western Investor June 2013
