Saturday, March 12, 2016

Property Development Group,PDG, [Lippo Group] Another Mall For Penticton,Built By Whom!


Work starts on new PIB bridge


Construction is beginning this week on a new five-lane bridge over the Okanagan River Channel in Penticton.
According to the Penticton Indian Band, the Satik Crossing bridge and development  will open up approximately 150 acres of PIB locatee lands along Highway 97 for future development that until now has been inaccessible.
The land parcels, known locally as the Channel Lands, border Penticton Regional Airport to the west and the channel to the east. 
"This is a once-in-a-generation opportunity. Working together with the City of Penticton and other partners, we can attract businesses wishing to locate in Penticton that have previously faced a significant shortage of developable lands," said PIB Chief Jonathan Kruger.
The bridge is considered by the chief to be a critical piece of infrastructure and a key pillar in the band's  long-term economic strategy that will bring new opportunities and create jobs for the band, the city and the entire region.
Since the announcement last fall of the Satik bridge, which means "bridge over water" in the Okanagan Sylix language, the chief said the project has generated a lot of interest from businesses.
The Property Development Group, a Vancouver retail development company, is in the final stages of a shopping centre development on a portion of the site.
While not at liberty to discuss which companies are involved, Kruger believes this strong initial interest will only grow.
"This is the first time in many years that a site of this size and with such a prime location has come to market in the South Okanagan," he said.
A master plan for the 60-hectare Channel Lands site is in progress and envisions a mix of retail, wholesale/commercial, light-industrial, institutional and mixed-use residential.
The bridge and future developments could create up to $2 million in annual revenues for the band and more than 600 local jobs over the next 10 years.
The PIB has issued a bridge construction and traffic advisory during construction.
  • Signage will be erected to advise motorists of road closures and traffic changes.
  • The dike road and walking path will be closed from Green Mountain Road south to the project limits during construction.
  • From Jan. 12 through June, the following traffic changes will be in effect 24-hours a day:
  • Highway 97 southbound: One through lane. Left turn to Green Avenue eastbound closed.
  • Highway 97 northbound: One through lane. Right turn to Green Avenue eastbound open.
  • Green Avenue egress; Left turn access to Highway 97 southbound closed. Right turn access to Highway 97 northbound open.
Construction is expected to be completed in October.