This study is designed to provide an examination and in-depth analysis of the existing supply of industrial and commercial space within King Township, by dividing the area into various nodes and corridors for analysis. The study will identify long term demand and opportunity for industrial and commercial development space to 2035.
The King Township Economic Development Office is conducting an Areas of Interest study in alignment with the action items outlined in the Economic Development Strategy.
The primary objectives of the King Township Areas of Interest Study are to:
- Analyze the existing inventory of available properties, uses, and end users to create an economic profile for the area based on key principles of supply and demand of real estate for development and investment, and use.
- Create a profile of existing inventory and high-demand areas for use as a marketing and prospecting tool to provide to realtors, investors, and end users, demonstrating the benefits of investing in King Township.
- Identify the long-term demand for industrial and commercial space in King Township, and evaluate the ability of the current supply to fulfill the future demands that the market will hold.
- Establish a business case and provide necessary research to higher authorities regarding lands within the boundaries of the corridors, nodes, and areas of the study to be reviewed in the next phases of land use planning upon the first 10-year review of the Greenbelt in 2015.
- Make a recommendation for specific retail, industrial, and commercial uses that would be best suited for the areas within King Township, and to outline the demand for specific uses in that have the opportunity to thrive in the community.
- Ensure that the outlined nodes and corridors function in a synergistic and complimentary manner to one another, and to the town’s planned land use.
- Make future provisions and considerations for the disposal of municipally owned assets that are not serving their highest and best use within the community, and hold potential to contribute more when changed to an alternate use
- Examine the infrastructural functionality of each node to better understand how effectively the area could fit into the short- and long-term strategies of land use.
- Outline the need for a Community Improvement Plan, and lay the foundation of research for the implementation of that plan.
