CANADA, August 6 - Creating local economic opportunity by developing provincial strategic properties will help Island communities grow sustainably.

In partnership with Borden-Carleton officials, the Province will be accepting proposals from members of the private sector interested in developing the former fabrication yard. 

"The development of the old fabrication yard will play a significant role in  how our town will shape its future for many generations," said Randy Ahearn, Mayor of Borden-Carleton. "We appreciate the ongoing partnership we've developed over the last few years with the Province as we move forward on this project together. We know that the Government of Prince Edward Island will consider how this property will suit both the needs of our local community and the socioeconomic prospects for the Island."

Finance PEI will be accepting requests for proposal (RFP) through a competitive process. Applicants will be rated on the following criteria:

• Development team;
• Developer access to financing;
• Alignment with community vision and goals;
• Extent of regulatory alignment; and
• Utilization of the subject lands or proponent collaboration/flexibilty.

“When the Province looks to develop one of our strategic properties, like the former fabrication yard, we need to do this thoughtfully and in partnership with those who live in the area. The future of this property must be aligned with what the people of Borden-Carleton want and our goal to grow sustainable economic opportunity for the Island. I would encourage anyone interested in developing this important property to put your proposal forward to Finance PEI.” 

- Minister of Economic Development, Innovation and Trade, Gilles Arsenault.

Finance PEI will be accepting proposals until November 13, 2024 at 2:00 p.m. AST.

Media contact:
Vicki Tse
Department of Economic Development, Innovation and Trade
vickitse@gov.pe.ca