Kitimat anyone? Now's the time.

4 Replies

Hi BP people. 

I'm sure you've heard the news about Kitimat getting a $40 Billion LNG plant. They are expecting upwards of 10,000 employees to build the plant over the next 5-7 years. Kitimat currently has 8,000 people. Do the math. 

I'm looking to park capital there. I'm thinking rents are going to almost double, as are property prices. It's going to be Fort Mac all over again. Just make sure you're out before the plant is completed, but even then, they are expecting 950 full time employees. I have some capital, and am willing to be hands on. Maybe someone wants to talk strategies with me? 

If anyone else is interested, let me know. 

Originally posted by @Jason Ridout :

Hi BP people. 

I'm sure you've heard the news about Kitimat getting a $40 Billion LNG plant. They are expecting upwards of 10,000 employees to build the plant over the next 5-7 years. Kitimat currently has 8,000 people. Do the math. 

I'm looking to park capital there. I'm thinking rents are going to almost double, as are property prices. It's going to be Fort Mac all over again. Just make sure you're out before the plant is completed, but even then, they are expecting 950 full time employees. I have some capital, and am willing to be hands on. Maybe someone wants to talk strategies with me? 

If anyone else is interested, let me know. 

 Maybe. Seems a little far north of Vancouver. How do they plan on moving the finished product? Pipeline or tanker?

I read an article on that today. Sounds like people are already pricing properties a lot higher to meet anticipation and properties are going into multiples.

Feels like a higher risk - reward type of investment as the rents and values had dropped significantly after the last big project there

Well, the boat has been missed! I called a few Realtors up in Kitimat. A 4 plex, that was listed for$600,000, has been resisted for $900,000. Everything that was listed, that can be rented, is sold, for way over asking. Only stuff on the market is hugely over inflated, or not rentable.

Should have bought the day the announcement was made!

Currently looking at Fort St. John & Dawson creek as a result of this announcement - it seems the area to also consider after looking at WCPG's project. 

Anyone have thoughts?

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