What in the world is happening to the local economy? It all depends on where you look.
Between 2007 and 2010 the total value of construction in the District of Squamish tumbled from $75 million to $25 million. Across from Shannon Falls, the Klahanie Spa and Resort was slated to become "the pre-eminent resort destination of its kind in Western Canada" with a planned opening date of December 2009. That site has yet to see a spade in the ground and the once popular Roadhouse Diner at Klahanie has been shuttered.
Two months ago, the Renaissance Retirement Residence went into receivership, an unexpected announcement that arrived on the heels of the Garibaldi Springs Golf Course liquidation. Properties over at the financially shaky Aqua development are being offered at fire-sale prices. Last year the newly constructed Holiday Inn went belly up and changed ownership, leaving numerous contractors unpaid for services rendered.
Like the victims of a brazen Halloween prank, a number of developers suddenly find themselves stumbling away from a tipped-over outhouse with their pants around their ankles.
A year ago the latest iteration of the Garibaldi at Squamish resort was sent back to the drawing board after it flunked a provincial environmental assessment. In 2008 the promising Red Point condo project was rejected by council because of access road concerns and a proposed alternative RV park on the site got a similar veto. More recently, the proponents of a sustainable equestrian community in Paradise Valley have been engaged in an interminable tug-o-war with the district over various issues that may finally be close to resolution. Another variation on this theme is the ongoing cat-and-mouse game between the district and a Brackendale developer over the construction of a controversial roadway leading to his site.
During the Live at Squamish festival one out-of-town blogger declared: "Awesome... Squamish is becoming a desired community to live in!" Fair enough, but who's buying homes around here? In July 2010, 17 detached homes, eight townhouses and six condos changed hands for a total of 31 sales. This past July that total dropped to 11 sales.
On the bright side, the number of building permits for single- and multi-family dwellings has increased. As well, the district's planning department reported the approval of more commercial footage last year than any period to date.
According to several reports, the merchants in the newest section of Garibaldi Village are holding their own in the finicky Squamish retail environment. Two promising industrial start-ups located in the former B.C. Rail lands, Combustion Solutions and Fisher Coatings, will soon be hiring additional staff. The former is a boiler, heater and burner manufacturer, while the latter is a home and commercial siding producer. Next door to the Stawamus Chief, the Sea to Sky Gondola, a potential tax revenue booster and job generator, is tentatively scheduled to open in the spring of 2013.
But let's be clear: At the moment too many residents are trekking to the Lower Mainland to earn the big bucks. And while most B.C. communities experienced a sharp drop in EI claims, a year ago Squamish had the largest per-capita increase of EI recipients in the province. With a municipal election just three months away, the local business climate has to be at the top of the agenda for anyone seeking a council seat or the mayor's chair.
