TERRACE STANDARD Business Review ~ ROOF WORK on the renovation and expansion of Progressive Ventures building on Hwy 16 West is the latest exampie of commercial construction underway | in town. Home Hardware plans to expand inte about half of the renovated space, with the remainder rented out as office space. Booming construction is one factor local realtors point to in saying Terrace will tide out the Skeena Cellulose troubles, Housing market just starting to feel crisis Effects still months away, realtors say By JEFF NAGEL THE REAL ESTATE market is showing signs of softening at the up- per end, but so far local realtors say they aren’t secing any evidence of a collapse as a resuit of the Skeena Cel- lulose crisis. Remax realtor John Evans says houses that had been selling for’ $200,000 and up appear to have dipped in price by as much as five per cent. But Evans and other realtors say prices remain steady in the lower and mid price ranges. “T don’t think we’ve yet seen any siguificant price drops,’’ Evans said. If there is a slight price correction, Evans says that might not be bad for the market, adding it would allow more first-time buyers in who now feel it’s too pricey for them. Announcements of the Skeena Cel- lulose shutdowns are having a. psychological effect, but realtors say it will be some time before any real effect filters down to the housing market. ‘We're probably two, three, four months away from seeing an impact,” Century 21 manager Jim Duffey said. “Tf SCI remains closed that amount of time, I think you’re going to see an cf- fect take place in the marketplace. But it could be back up and running in a month of $0.” He said there’s still a lot of con- fidence that the government and unions will reach a deal with banks that own Skeena Cellulose to run the operations and keep any closures short. “No panic bas set in,’? Duffey added. “And as Jong as people remain calm and optimistic we expect the ‘market will continue to be stable,” Realtors are reporting more homes for sale on the market, bul it’s taking longer to sell those homes. Evans says a house that uscd to sell _in two weeks to a month is now taking about three months to sell. That’s mainly a- result of vendors being reluctant to sell immediately, in hopes that the Skeena Cellulose crisis will be short-lived. . ’ “Most people know this can’t last forever,’ Coldwell Bauker’s Joe Bar- bosa said, ‘‘So it’s like hitting a gigantic pause button on the VCR. Everybody’s holding back and wait- ing andsecing.’ Booming new construction, espe- cially major new commercial outlels, is an indicator the realtors are pointing to-as evidence Terrace will ride out the trouble. ao “Pye lived in’ Terrace for 32 years,” adds Duffey, adding Terrace’s economy is now more diversified as a commerce and government services hub. ‘‘Years ago the economy was to- tally dependent on the logging indus- try. That’s no longer the case.” Prince Rupert realtors alsa report in- creased lislings, decreased sales and a so-far marginal reduction in prices. Out & About New channels planned SKEENA CABLEVISION has started the paperwork to bring in more cable TV channels. But a decision on how many channels, what they are or when they might be introduced has yet to be made. The company two weeks ago asked federal broadcast regulators for approval to bring in new channels given the go ahead last year by the regulators. The channels are specialty ones ranging from a CTV all-news package to a history channel to one Ecaturing only comedy, Chamber cheesed at city LOCAL BUSINESS leaders think city council is out to get them. That ill feeling was discussed by the Chamber of Commerce executive at its June 19 meeting. The fecling is that this council scems to be ‘agin’ the chamber,”’ say the minutes of that meeling. . City councillors have voted against the chamber’s wishes on three issues lately — the organization’s request for a referendum on holiday shopping in the summer, a proposal to allow photo radar inside city limits, aud participation in the Northwest Communities Coalilion. “They shouldn’t get upset if occasionally we don’t agree with them on a particular issuc,” said acting mayor Val George. (Jack Talstra is away on holidays.) Newly sworm-in chamber president Sharalyn Palagian said past president Skip Bates and Talstra met and cleared up the issue, adding it was all a ‘‘misunderstanding.” Contain restrictions apply. Na purchae necessary. Spansored with Let us fire vp the geal at your own private. BSC? Party Come in to Mr-Mikes Grill during July and enter for your chance to win the party that everyone is and wil! be talking about. Mr.Mikes Grill will come to your house and set up your own BBQ party. We'll supply the.food_and the cook while you and your guests sit back and enjoy. LEAVE EVERYTHING TO US, “THEN WE'LL LEAVE EVERYTHING WITH YOU... INCLUDING THE BARBECUE! og Wa bk: 4736 Lakelse Avenue (across from the Skecna Mall) Tel: 635-3077 Come in on Wednesdays for Wade Days! ADD A SECOND PHONE FOR ONLY Sicrrasouxs Be Ourswaone § Semice REST AVE, RAL TERRAGE KITIMAT 635-5833 632-5000 635-4948 35% ANNIVERSARY 1962-1997 SKEENA MALL TERRACE CITY CENTRE B informed: free phone and $25.95 a month cellular plan based on a 36 month transferable contract. New customers only, OAC. Home Free calls unlimited Inlength- maximum 30cals per month : local calls only. Home Free calls must be to primary customer's registered BC TEL fesid ential Landline number. Free calls homie applicable only tocal's made an the BC TEL Mobility network, Two-ln-Gne Plan: New 36-month