Only two years after beginning Swell Private Wealth in downtown Medicine Hat, owner Steve Meldrum realized his growing company was going to need more space. His desire to remain downtown led him to develop a property on 4th Street Southeast, a previously underutilized block in Medicine Hat’s downtown core.
Designed by Medicine Hat-based PH McNally and Associates, the 7,000 square foot office building has a bright, modern feel with natural light spilling in from windows that boast views of Medicine Hat’s river valley.
Proximity to professional services and City Hall support for downtown redevelopment are two factors in Meldrum’s decision to remain in the city’s core, as the location gives Swell Wealth good growth potential.
“We saw value in developing the property and had a lot of support from the city with this project,” said Meldrum, referring to grants from the Downtown Development Incentive Program.
Downtown Medicine Hat is Southeast Alberta’s hub for professional services, including lawyers, accountants and financial planners. Meldrum’s new 7,000 foot property was designed with company growth in mind, adding additional bays for other professional services.
The development kicked off a mini boom in the area, with Little Owl Learning Centre and 20/20 Eye Care both developing properties on the block. Meanwhile, Elliot Home & Lifestyle has moved into the neighbourhood, drawn in by the bright property and expansive views and more are expected in the near future.
“We have certainly noticed an increase in commercial development,” explains Invest Medicine Hat CEO Ryan Jackson. “Companies like Swell Wealth and others are investing in Medicine Hat, indicating confidence in the local and regional economy.”
With plans to expand the business and add more staff, Swell Private Wealth now has office space that the company can grow into.