Mayor Copeland remains optimistic for attracting commercial developers to Cold Lake

The City of Cold Lake is always looking to expand when it comes to commercial development says the Mayor as he remains optimistic for his growing city.

Mayor Craig Copeland says, “Commercial development takes years to occur and I would suspect that with oil prices moving and Federal Government funding of the new fighter jet in the future along with significant infrastructure dollars upgrading 4Wing I am sure commercial developers are looking at our City”

However, developments are happening now in the city as more and more people make Cold Lake their home.

Kevin Nagoya is the Chief Administrative Officer in the City of Cold Lake.

“I would like to confirm that the City’s development permits are seeing a rebound which is very exciting for the community,” Nagoya told Lakeland Connect. “We also understand that the local real estate market has also risen. The economic prospect of Cold Lake is improving subsequent to the recession.”

Nagoya says, as you may know, the Government of Canada through CBF Cold Lake is moving forward on a significant investment for the preparation of the new fighter jet.

“We understand the investment will be in the order of magnitude of a half-billion dollars across various disciplines and infrastructure,” Nagoya said. “The Cold Lake Air Weapons Range will also be seeing an overhaul in the future. The City of Cold Lake is in active dialogue with various investors that are linked to services provided to the Department of National Defence, the Government of Canada, and even the Government of Alberta.”

At the City of Cold Lake, Nagoya says they actively welcome and meet various developers and investors into the community that are seeing Cold Lake on the map and what it has to offer of which Cold Lake is becoming known for a variety of opportunities for various reasons.

“We also spend a lot of time touring investors throughout the community,” Nagoya said. “Our job as a municipality is to assist the development community by facilitating connections between everyone and everything that needs to be involved in a given project. There are a lot of moving parts to any development, whether it is residential or commercial. The municipality needs to be on board and assisting within its regulatory framework to make the process as smooth as reasonably possible.”

Nagoya confirmed to Lakeland Connect that the City of Cold Lake is involved in several discussions with interested businesses reviewing the opportunities in Cold Lake.

“That being said, I must confirm that I cannot disclose specific details as we do not want to breach any information that was are being provided in trust,” Nagoya said. I understand that one of our developer/investor groups has commenced marketing a proposed development, which can be found at the following public links.”

• https://lancaro.ca/projects/cold-lake-alberta/
• https://lancaro.ca/wp-content/uploads/2021/11/Cold-Lake-Brochure-Lv3.pdf

“We will let the market decide what is to come to Cold Lake, our role is to assist the developers that are investing in our community,” Nagoya said. “The city is aware we are on the radar for franchises so we will see.”