The Executive Director of the Kamloops Central Business Improvement Association says he is ecstatic by the plans for a major new development downtown.

Carl DeSantis says the project – known as the Hive – is a result of city council supporting the Kamloops business community.

“The revitalization tax exemption was the impetus behind this whole project going ahead right now. It demonstrates the confidence developers have and the business community has in our city and in our downtown,” he told NL News. “So yes, we are absolutely thrilled this project has been announced.”

DeSantis says he’s not surprised that the project was announced one day after city council passed a bylaw for a commercial business tax break.

“We’ve been part of a few conversations and I knew that there was something in the works,” said DeSantis. “I wasn’t sure what their timelines are, but now that the announcement has been made, I’m really looking forward to what will be a wonderful addition to our downtown.”

He admits he won’t be surprised to see other similar projects announced in the future.

“Many of the businesses and the services that are already existing are going to benefit. And then as the development completes and we’ve got businesses moving in, they’re going to continue to support or new businesses are going to be attracted to our city,” DeSantis added.

“Longer term, these businesses that are moving into these new developments – of course – they’re going to be contributing in so many different ways to the city.”

Work on Phase One of the Hive is expected to begin in April, and be completed in the final quarter of 2021.