Hotels, condominiums, a convention centre, and a Nordic spa are among the suggested uses for a former grain elevator site on Thunder Bay’s waterfront.
The Thunder Bay Community Economic Development Commission released a report March 18 for the Pool 6 property, proposing some ideas on what to place on the vacant 12.2-hectare site on the city’s waterfront.
The Pool 6 property represents the next stage of development in reshaping the city’s former working waterfront. The city broke ground for the Prince Arthur’s Landing project in 2008.
The Pool 6 land bears the name of the since-demolished grain elevator that once stood on the property. The property is located next to, and south of, Prince Arthur’s Landing and the future site of the Thunder Bay Art Gallery. It juts out into the harbour from the city’s cruise ship dock.
The report, referred to as a “highest and best use study” for Pool 6, looked into the economic opportunities, tourism potential and community benefits that this property could provide for the local economy.
In providing suggestions, two firms, Bain Smith Consulting and Brook McIlroy, looked into market demand, infrastructure needs and the economic feasibility with various scenarios and opportunities that could generate tax revenue for the city, invite new investment, and enhance the vibrancy of the waterfront. Brook McIlroy was involved in the award-winning Prince Arthur's Landing design almost two decades ago.
According to a CEDC news release, depending on the approach taken, the Pool 6 property could generate up to $15.4 million in tax revenue. A well-designed development would offer mixed-use opportunities of commercial — like restaurants — and residential that would enhance the city’s overall appeal.
Among the suggested opportunities is another new hotel development. The city has witnessed a spate of new hotel construction over the years, thanks to its efforts in promoting the city has a destination for convention and sport tourism. Still, the report said, there’s room for growth. Thunder Bay’s hotel occupancy rate stands at 69 per cent, better than the provincial and national averages.
The consultants pitched an idea of a Nordic spa that could be attached to a hotel development. This attraction has proved popular in places like Duluth, Minn., and in Winnipeg.
There are residential construction opportunities, particularly with condominium, assisted living and senior living accommodations. According to Canada Mortgage and Housing Corp. numbers from 2023, Thunder Bay faces a housing shortage of 865 units and a vacancy rate of 2.9 per cent.
The report also mentions a big-ticket development in the form of a convention centre that would strengthen the city’s business tourism case. The largest venue in the city accommodates 1,000 attendees, but only in theatre-style seating.
“Waterfront properties represent a unique and valuable asset for Thunder Bay’s future,” said Jamie Taylor, CEO of the Thunder Bay Community Economic Development Commission, in the release.
“Our goal is to help foster sustainable growth by expanding the city’s tax base, creating new business and employment opportunities, and leveraging our existing infrastructure to build a more dynamic and connected community.”
With the report in hand, the City of Thunder Bay’s Growth Department and commissioner Kerri Marshall will lead a “visioning exercise” to advance this study in its future planning.
“This study highlights the incredible potential of the Pool 6 lands to drive growth, attract investment, and expand Thunder Bay’s vibrant waterfront,” said Marshall in a statement.
“By strengthening and enhancing this key area, we have a unique opportunity to boost the city’s tax base, support economic opportunities, and develop a more dynamic and accessible destination for residents and visitors.”
