MISSION, British Columbia, July 16, 2024 (GLOBE NEWSWIRE) -- Today, Vancouver, B.C., developer Cedar Coast and Langley, B.C. builder Orion Construction broke ground on the Cade Barr Business Park in Mission, B.C. Spanning over 400,000 square feet and accounting for four buildings, the business park marks Cedar Coast’s first development project in the City of Mission. The project also represents an over 25 per cent growth to Mission’s light industrial base and is the first new employment land development in Cedar Valley.
Located at the northeast corner of the intersection of Dewdney Trunk Road and Cade Barr Street, this 7.37-hectare site will be home to four light-industrial buildings spanning over 400,000 square feet. The development offers promising prospects for expanding local businesses and will feature a land dedication for 0.86 hectares allocated for a new fire hall to serve the Mission community.
“This initiative is a milestone, as creating local employment and neighborhood centres are important aspects of Mission's community growth strategy,” said City of Mission Mayor Paul Horn.
“Additionally, we are diversifying our tax base, which lessens the burden on residential homeowners, while also creating local employment opportunities, which cuts down on the need to commute outside of the city for work. With such a short supply of flat, serviceable industrial land, this is an example of responsible, balanced growth that will benefit Mission for years to come.”
Cade Barr Business Park will be built in phases to alleviate Metro Vancouver’s industrial space shortage. Phase 1, which includes Buildings A and B, is set to be finished by the third quarter of 2025. Phase 2, Buildings C and D, will follow as the rapidly growing market demands.
“We have long believed that Mission is a special part of the Fraser Valley, and it has been a privilege to collaboratively work with Council and City staff to deliver such a significant increase to Mission’s employment lands. This project provides the infrastructure for hundreds of new jobs for Mission’s residents and the economic engine for new commercial development in Cedar Valley. Cedar Coast is proud to contribute to Mission’s flourishing community,” said Aaron Fedora, Vice-President of Development, Cedar Coast.
Mission’s population is projected to grow by 50,567 people by 2030, according to population projections from BC Stats. As a result of growing demand, the City launched the Mission Waterfront Revitalization Plan in 2020. The strategy involves a thorough 'made-by-Mission' roadmap that will steer land use determinations in the upcoming years.
“Cade Barr Business Park epitomizes our dedication to crafting superior products and advancing innovative industrial spaces that improve both community well-being and support entrepreneurs and growing businesses. We look forward to welcoming new businesses to this exceptional development,” said Joshua Gaglardi, President of Orion Construction.
The project aims not only to expand the available employment land in the area but also to bolster Mission's population growth and economic development. By focusing on expanding the employment land, the project seeks to create a sustainable foundation for long-term prosperity and community development within Mission. The addition of a new fire hall will not only bolster the area's safety measures but also accommodate the increasing population with greater efficacy.
“Strategically located, the new Fire Station 4 will bolster Mission Fire Rescue’s response capabilities in this rapidly growing area and will support all three of Mission’s existing Fire Stations by placing resources closer to their eastern response areas,” said Ian Glasgow, Assistant Chief of Fire Prevention with the City of Mission.
Buildings A and D will be comprised of large-bay units, with buildings C and B comprising of small-bay units. The small-bay units have garnered significant interest from local entrepreneurs, with more than 85 per cent of Phase 1 already pre-sold. Opportunities still remain in Phase 1 to secure units between 14,000 and 20,000 square feet.
Media Contact:
Jenna Querengesser, Talk Shop Media
jenna.querengesser@talkshopmedia.com
778-288-1477
About Cedar Coast: Cedar Coast is a Vancouver, B.C.-based real estate development and investment firm with a 22-year track record of successful outcomes. We currently have 33 active projects throughout British Columbia, Oregon, Washington and North Dakota, representing over 4.4 million sq. ft. of light industrial developments, 2,800 homes and condos, and 1,250 rental apartments when fully built out. Each investment decision is approached with a long-term view of creating winning outcomes for their investment partners, team and the communities in which they invest. https://cedarcoast.com
About Orion Construction: Orion Construction is a leading design-build contractor located in Langley, BC. Serving as an all-in-one construction partner, they have revolutionized the construction of industrial, commercial, and multi-family spaces through unified, solutions-based operations, and a superior finished product. Led by Joshua Gaglardi, the Orion team is committed to cultivating communities that meaningfully transform how multi-family living is implemented in the British Columbia housing sector. For more information about Orion Construction visit: https://orionconstruction.ca/
