The Site C Dam approval has been announced. Now What?
On December 16th, 2014, Premier Christy Clark made the formal announcement that the Site C dam construction will begin in 2015. This may excite many landowners, developers, long-term investors, hotel operators and (sadly) speculators. But wait, does this announcement mean that all is going ahead at full steam?
It is important, for strategic investors, to ensure they are considering all of the moving parts to this massive project. One of the key ones being the new philosophy that anyone who is ‘against’ an issue will be paraded across front pages, blog posts and electronic media. It is a theme that has played out on projects across the country with increasing frequency.
Yes, the ‘nos’ get the “eyes” meaning the negative response always attracts more clicks, watches, views, traffic and viewers so therefore it is in the best interest to focus on the negative responses if you want to sell more advertising. This is important because it will quickly appear as if the vast majority are against the project, when in fact is not true. You will see lawsuits filed, demonstrations held, marches of support wandering through the cities – all of which make for great visuals.
Why The Negative May Be Perfect for Investors
You can turn all of this negative coverage to your advantage, if you think strategically, not emotionally. As the negative news keeps many more emotional investors out of the market, you can quietly make your strategic moves. This project is not slated to be completed until 2024 – that’s a 9 year run of GDP and Job growth to the area and if you position yourself properly, with proper budgeting, cashflow and a management plan, this could prove to set you up financially for a long time
Whether opening up a service business that will support the many who will be moving to the area to build this project, or providing rental housing to them, or even hotels or furnished suites which are already in high demand but about to really feel the positive impact beginning in 2015.
However you wish to use this large infrastructure project, it is important to remember that this is not a straight line project – there will be ebbs and flows. Secondly, because the region has such a small population those ebbs and flows will be more dramatic than in larger centers, so budget and prepare for these changes.
In this video, I share my first look at how to position yourself well to take put this major project announcement, this is just the beginning of a long economic journey up in the NE Quadrant of British Columbia
Don R Campbell weighs into how the Site C Dam announcement will affect real estate investing