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Madison Pacific Properties Inc T.MPC

Alternate Symbol(s):  MDPCF | T.MPC.C

Madison Pacific Properties Inc. is a Canada-based real estate company, which owns, develops, and operates office, industrial, commercial, and multi-family rental properties located in British Columbia, Alberta, and Ontario. The Company also has investments in joint ventures that develop residential properties. The Company’s investment portfolio comprises around 54 properties with approximately 1.9 million rentable square feet (sq. ft) of industrial and commercial space and a 50% interest in two- multi-family rental properties with a total of 94 units. It offers a range of property management services for its portfolio of investment properties, which include tenant services and relationships, building operations, lease administration, property accounting and reporting and project management services. Its development properties include a 50% interest in the Silverdale Hills Limited Partnership which owns approximately 1,400 acres of development lands in Mission, British Columbia.


TSX:MPC - Post by User

Post by undervalueon Feb 01, 2022 12:10pm
131 Views
Post# 34385664

Rising rates or land shortage.

Rising rates or land shortage.The risk of rising rates knocking back values in industrial and other asset classes exists.
We would argue that Silverdale long term is worth as much as the share price easily.
I think land shortage will be the long term story with this type political landscape.

Regional government directs Surrey to seek added consultation on plans for expansion of industrial lands

Surrey was close to getting approval for 600 acres in Surrey's South Campbell Heights

 
Critics of a plan to convert around 600 acres of rural land into an industrial park in Surrey say the plan will negatively affect the salmon-bearing Little Campbell River. (Jesse Johnston/CBC)

A plan to turn rural lands in Surrey into an industrial park has been sent back to planners by the regional government in charge of the urban containment boundary.

On Friday, a slim majority of Metro Vancouver directors supported a motion from Surrey councillor Linda Annis demanding more consultation, specifically with the Semiahmoo First Nation.

 

Annis said in a tweet that she could not ignore hundreds of letters arguing against the project and for protecting a swath of rural landscape along the Surrey and Langley border.

 

In July 2021, the City of Surrey brought forward a plan to change the zoning designation for around 600 acres of land, which would allow for industrial development in the area.

The city has argued that expanded industrial lands in Surrey are needed for employment and business opportunities.

The Surrey Board of Trade said the rezoning of the lands, which are directly south of the Campbell Heights industrial business park, would create more than 20,000 jobs in the region and attract up to 135 businesses.

However, to proceed with the plan, Surrey needs the approval of Metro Vancouver, because the land falls outside Surrey's urban containment boundary, which is intended to preserve agricultural and undeveloped areas.

For the past six months, conservation groups and the Semiahmoo First Nation have lobbied hard to draw attention to how rezoning the area would negatively affect the greenspace, which includes the salmon-bearing Little Campbell River.

'Our home on the river and our traditional food sources'

Leading up to Friday's Metro Vancouver board meeting where a final reading of the proposed amendment to the urban containment boundary took place, Semiahmoo Chief Harley Chappell said in a release that the nation had not been properly involved in the plan.

"The fact is that Semiahmoo First Nation was not consulted on this proposal that directly affects the health of our territory, our home on the river and our traditional food sources," he said.

The nation is concerned that the amendment is contrary to the regions' objectives, will lead to an increase of water run-off and pollution, and harm municipal services such as sanitation for the nation.

Joanne Charles, a councillor with nation, said she was happy with Friday's vote. "We were heard," she said.

She did not say if the nation would be able to support plan in the future, but they were looking forward to being more involved in it.

"It's too early to say at this point in time as that's part of the work that we need to do, it's part of the consultation to see what those impacts would be, could be and what the plans are to mitigate them."


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