 Cochrane still top investment opportunity - Nov. 12, 2003 Cochrane still top investment opportunity
Nov. 12, 2003
Darryl Mills
Editor
Cochrane Times
No doubt there are a lot of blue chip investors in Cochrane, but what is likely no surprise to anyone, the town continues to be a pretty solid investment opportunity itself.
“Wake up and ‘smell the ice cream,’ Cochrane is a blue chip investment,” trumpets The Top 10 Alberta Towns to Invest In, a special report from Don Campbell and the Real Estate Investment Network (REIN). According to the report, Cochrane is ranked seventh of 31 Alberta towns and cities, and it is the sixth straight year Cochrane has placed in the top seven, peaking at fifth place in 2000. The town was sixth for the last two years. The report targets entrepreneurs and investors unhappy with their retirement savings plans and other stock market investments and offers real estate as a stronger investment vehicle. “Cochrane has experienced significant growth over the last 30 years, with the population more than doubling since 1991,” the report says. An upwardly mobile work force, 48 per cent of whom commute to Calgary and who bring their income back to Cochrane, combined with an economic revitalization are keys, according to the report. It says the economy in Cochrane is quite diverse for a community of this size. With oil and gas, forestry, tourism, value-added manufacturing and service industries playing the key roles in the economy, the report says, Cochrane enjoys a diversity not seen in most communities of this size. Acting Cochrane and District Chamber of Commerce President Harold Shand says the report is a solid reflection of what is happening in Canada’s fastest growing community. “The REIN report recognizes that we are much more than a bedroom community for Calgary,” Shand says. “We are carving out a unique economic future -- one with exciting potential for people who live here, establish businesses here, and invest here.” And, investment is what REIN is all about. Its 700-plus members, most of whom are in Alberta but does include some in B.C, Saskatchewan and Ontario, have acquired more than 6,600 residential real estate investment properties that are worth a cumulative $500 million and growing. The company is based out of NW Calgary, where Campbell is located, and members are encouraged to identify and acquire at least three investment properties during the first 12 months. Cochrane also scored points for great golf opportunities, the mountains and a growing list of amenities for people of all ages. The town is praised for being able to offer the kind of ‘small town life’ that many people are looking for. The Downtown Revitalization project receives high praise for making Cochrane’s downtown a weekend ‘must see’ for tourists and locals alike. Due to these and other factors identified, the report says rents and property values will continue to rise. Of course, there is a downside to the report. Of the top ten cities and towns on the list, which includes Edmonton, Devon, Sylvan Lake, Calgary, Red Deer, Okotoks, Lacombe, High River, Grande Prairie, St. Albert and Fort McMurray, Cochrane has the highest rent and property values of any, other than Fort McMurray. That fact does contribute to the continuing struggle to provide affordable housing. But, for investors, the opportunities continue to abound. Posted November 12, 2003 |
