The Site is located directly off Highway 28/55, east of the TriCity Mall and adjacent retail power centre which boasts multiple amenities. The City of Cold Lake draws both Canadian and international military forces to CFB Cold Lake, a major economic driver. In March, 2016, Imperial Oil announced a $2 billion oil sands project near its existing operation in Cold Lake. Tourism is also a major employer in Cold Lake. With a greater population approaching 16,000, the City of Cold Lake serves a greater trade area surpassing 50,000 people. Retailers such as Wal-Mart and Canadian Tire position Cold Lake as the commercial centre of northeastern Alberta.
Ready to develop, the Site can be improved with up to 82 multifamily (subject to parking and landscaping restrictions). Zoned R4 High Density.