Ontario Power Generation (OPG) has recently announced plans to explore new nuclear energy generation just outside Port Hope, at the existing Wesleyville site. With Ontario’s electricity demand projected to increase by 75% by 2050, Wesleyville
With this, the economic landscape in Northumberland County could be on the cusp of a major shift. It is an opportunity for appraisers, developers, homeowners, and municipalities alike to redefine entire communities through such investments. It also means opportunities and challenges that require clear, data-driven insights.
At High Rock Appraisal Group, our newly opened Cobourg Satellite Office at 304 Division St., places us at the heart of this change. It ensures we are well-positioned to support the appraisal needs of Port Hope, Cobourg, and the surrounding areas as the demand grows.
Anticipating the market shifts ahead
If the Port Hope project follows the path of the Darlington refurbishment, we can expect significant local impact. That 12.8 billion dollar investment generated 14.9 billion dollars in economic benefits for the province, created 8800 construction jobs per year, and preserved thousands of permanent jobs. These numbers underscore the scale of impact such infrastructure projects bring to the local community. Increased employment, new business activity, and infrastructure upgrades all translate into opportunities for property owners, developers, and investors.
For Port Hope and Cobourg, similar dynamics could unfold:
- Rising demand for commercial space: Large-scale infrastructure projects draw in contractors, suppliers, service providers, and more. All these professionals will need offices, warehouses, and staging facilities. In turn, local businesses, such as restaurants, retail outlets, and healthcare services, will expand to meet the needs of a growing workforce. Reliable commercial appraisals will be critical for developers and lenders as they navigate this demand.
- Shifts in commercial land values: Underutiliized or strategically located parcels of land often see significant value increases during periods of major investment. Properties close to transportation corridors or industrial hubs will be particularly sought after, making accurate appraisals essential for acquisition, financing, development, and value decisions.
- Infrastructure-driven premiums: Government and private-sector infrastructure improvements, such as roads, utilities, community amenities, and more, can enhance the value of surrounding commercial properties. We, as AACI designated commercial appraisers with the Appraisal Institute of Canada, will provide accurate data and insights necessary to quantify these premiums, ensuring stakeholders make informed choices and decisions when buying, selling, or developing.
Why early positioning matters
As these changes begin, there is a window of opportunity for stakeholders:
- Developers need reliable appraisals to justify land acquisition and project financing.
- Municipalities require accurate valuations for taxation and planning purposes.
- Lenders rely on credible appraisals to support increased mortgage activity.
- Property owners benefit from professional insight into how large-scale development affects their investments.
By engaging with local experts, stakeholders can navigate these shifts with confidence.
Our Commitment to the Region
Our presence at 304 Division St., Cobourg, is not just an office address. It is a statement of commitment. We are investing in this community, building relationships with local business owners, developers, lenders, and the local community. This is to ensure we are ready to support the influx of commercial space appraisal needs that may follow this proposed OPG expansion.
If Darlington’s refurbishment is a guide, Northumberland County could be on track for a period of sustained growth. The Conference Board of Canada projects that the continued operation of Darlington through 2025 will contribute 75 billion dollars to Ontario’s GDP and support an average of 14,200 jobs per year. The potential for Port Hope and Cobourg to experience a proportional uplift is clear, and our team is here to provide the appraisal expertise to navigate it.
Whether you are acquiring land, expanding operations, financing new developments, or buying and selling, accurate and locally informed appraisals will be essential. Our team here at High Rock Appraisal Group is ready to deliver the insights you need to stay ahead of the curve.
Reach out if you also want to be part of this community and its growth.