Medicine Hat’s Fire Hall No. 2 on Dunmore Road SE was recently purchased for $590,000 by local real estate developers and entrepreneurs Chelsea and Travis Siggelkow, who have a vision to transform the 39-year-old building into a retail space while paying homage to its original use.
“We’re going to give the space an industrial-chic design,” said Chelsea, adding that Roset by Reid has committed to relocating from their current downtown location. “It will be the type of space conducive to walking around and trying on jewelry.”
The 3,000 square foot jewelry store will be one of the largest in Alberta.
“The new location will have a long-term benefit for our business and be easier for our customers to access,” said Duane Roset, owner of Roset by Reid.
In addition to Roset by Reid, the Siggelkows have received interest in leases from a number of potential tenants, not to mention support from the community and the city in their new endeavor.
“It’s exciting that Medicine Hat businesses are behind the idea,” said Travis.
Indeed, Medicine Hat is in the midst of a commercial real estate boom. Major projects announced and underway include a $15-million redevelopment and expansion of the Medicine Hat Mall, a 12.95-acre in-fill development at Strachan Corner, and a 17-acre greenfield development at 2501 Stachan Road SE.
“The commercial real estate market is going strong,” says Invest Medicine Hat CEO Ryan Jackson, citing steady population growth as a key driver. “From Box Springs Business Park to adaptive re-use projects like Fire Hall No. 2, Medicine Hat has stayed steady through the downturn.”
Renovations to Fire Hall No. 2 start in June 2017 with Roset by Reid opening in the fall. Once complete, an additional 2,000 square feet of retail space will be available for lease, with the Siggelkow’s saying they are open to entertaining anything from unique retail to a restaurant.