A groundbreaking ceremony was held Thursday for a $300-million development in West Lethbridge. Core Crossings will include a 450-unit residential development from Cedar Ridge Homes, a commercial and retail development by Sherwood Developments Inc. with more than 100,000 square feet of mixed-use commercial space, a 120-room hotel and a 54-unit Green Acres Foundation independent living facility for seniors. Mayor Blaine Hyggen says the investment is the largest he’s been a part of while on council. The west side is home to more than 40,000 residents, about 43 per cent of Lethbridge’s population. Hyggen says the significant investment on that side of the city will benefit the entire community. “The more that you actually put into a community, the less traffic you’re going to need to cross a bridge to other commercial places you may visit,” Hyggen said. “Growth pays for growth.” “If you want to bring the taxation rate down, you need to have a lot of additional development within your community, whether it be residential or commercial. Commercial pays a premium of about 2.4 times what residential does, so any time you can get commercial properties or industrial properties in the area, it really does help alleviate some of the tax stress folks are feeling.” The 11-hectare mixed-use development is expected to be complete within three to five years.
