We

; plans for old buildings |

“By SARAH A. ZIMMERMAN

4

Al2 2- The Terrace Standard, Wednesday, January 25, 2006

— - TERRACE STANDARD

Owners have grand |

|" working on:a Masters of Business Adminis-. -
: THE NEW. owners “of. the. apartments _
‘commonly known as the .Keystones have big .;

tration program with Alcan’ in Kitimat, and
says that’s‘how he, became interested i in in-

plans -to” transform ‘-y
- the units back into |

e “an upscale apartment
7 = complex. a
- . Mark Selman,

“one of four Vancou- . «
ver-based . investors
who closed $900,000 -
0 . -vdeal on‘the purchase «.
of the three buildings”
2 “® Jan. 20, says renova-
= > tions “will begin in.

%

THE WOODLANDS. ‘Apartments, once
- known as.the Keystones, have Officially
been sold and will be renovated. soon...

vesting in the north- -
west? ; mo
“Through: my.
work with Alcan'T

» Met with people at
~~ the . Terrace. Eco-
nomic ~~ Develop- -
ment Authority and -~
Kitimat-Terrace -

- Industrial Develop-
ment Society. “and
it got me thinking

. about the area,” Sel-

©... the coming months.
ae Fon “We will do -a

_ Selman.”

7 = o < “Our short term goal’ is to ‘get the units
» back the way they should be and get a good |

‘group of tenants who value the location.”

That: includes. ‘stripping ‘the: building of

between the three buildings. ©. °
“It’s not just a. paint-over job. It will be

" ment.’ made. ‘into. ‘revamping the buildings
~ both: inside and out, Selman:did say the pre-
. vious’ owner .had already. made’ important

"includes. paving and te-roofing,,

” major renovation to upgrade the units,” " says ‘

The buildings, located at 4603-4621 Scott. .
“AVE. currently have an 85: per cent vacancy -
rate, . something. the. New. owners intend to

upgrades across the: board,” Selman says... -
While there will be. a ‘significant invest-

-tpkrades ‘to some aspects: of the Properties

"the last five years.
existing . Carpets . and . flooring, . improving »
insulation, ’* weatherproofing . and replacing...
“,every. appliance ‘and fixture, in the 66- units a

: ment) project. We think it has a lot of poten-. «

tential. for pipeline development in the area.
- are all important, markers that the economy »

- fo continue to draw more interest this year.

"people in Terrace and Kitimat promoting the
-also working on purchasing some property in

-in the area, but he would not disclose where.
‘He and his colleagues believe the northwest

-and that’s why we are there,” Selman says.

_man says.
“The latter group is made up of business

area for industrial investment. ;
* Selman says his group of investors are

Kitimat and have their. eye on more property:

is coming out of the economic downturn, of

With. the. continued. expansion. at the :
Northwest. Regional ‘Airport, the container
port project in. Prince’ Rupert and: the. po-

should be getting better.
“We are very excited ' about the (apart- .
tial, :we think Terrace has a lot of potential
Realtor John Evans says the. sale is im- |

portant because it marks investor ‘confidence.
in the area. He’ expects the real estate market - |

Society’ has: ‘elected. a ‘new:
board of directors: -.:
- ‘New’ president: is Carol’
Fielding, owner. of Kermode °
~ Custom Cycle... meee
~ Vice-president. is -Gem- .
_‘ma’s owner Bruno Belanger |
‘and ‘the’, treasurer position —
"goes to Dullss -Kleamyck of |

Those »

“the Best Western’ "Terrace ° .
«Inn. Annalee Davis of - Don
can Diego’ sis the secretary.
The board also’ has inu-
- merous directors. ' ve
include George 7
Clark of Elan Travel, Roger
Harris of Bayview. Falling,
Jacquie Munson from the
- Bear, Country Inn and John ©

. Forrest of Northern Escape
7 Heli- Skiing. . =
. Hotelier" ‘representatives:
‘include Doug Barrett of.
_ the Coast Inn: of the West,
Yvonne Danroth of the Wild:

Duck ‘Motel ‘and. RV. Park,

man and ‘Peter Gill of the
Kalum Motel.

Scott Miller from the Sand- a

be 4
1 .

“ln Timbies Hockey, having fun and making friends a are all part of the

“drill. Tim Hortons i is proud to support the Tirmbies Hockey players | in -

_ Terrace. ae ey es

- The first goal is having fun.

oa

ti

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