March 18, 2025 – The Thunder Bay Community Economic Development Commission (CEDC) is excited to release the summary report from the Highest and Best Use Study for the Pool Six property and Tugboat Basin. This study offers a comprehensive analysis that provides the City of Thunder Bay with key insights into the significant economic opportunities, tourism potential, and community benefits that these lands could offer to the local economy.

In collaboration with bain smith consulting and Brook McIlroy, CEDC conducted an in-depth assessment of market demand, infrastructure needs, and economic feasibility. The study explored various development scenarios, identifying strategic opportunities that could generate substantial tax revenue, attract new investments, and enhance Thunder Bay’s vibrant waterfront.

“As part of our ongoing commitment to driving economic growth, identifying development opportunities is a part of CEDC’s role,” said Jamie Taylor, CEO of CEDC. “Waterfront properties represent a unique and valuable asset for Thunder Bay’s future. Our goal is to help foster sustainable growth by expanding the city’s tax base, creating new business and employment opportunities, and leveraging our existing infrastructure to build a more dynamic and connected community.”

The study outlines several key recommendations for the Pool Six property, including:

• Mixed-use spaces with residential, commercial and public amenities
• Enhancing tourism assets
• Investing in essential infrastructure for long-term economic benefits
• Balancing growth with environmental responsibility

With the right approach, the Pool Six property has the potential to generate up to $15.4 million annually in tax revenue for the City, contributing to long-term economic sustainability. The development scenarios indicate that 38% of the land could be dedicated to development, 44% could be designated as public space (including reserving the waters edge for trails), 18% could be reserved for infrastructure to support both public and development uses and 5% could be dedicated to the cruise ship service area. The study also considered a variety of factors, including the integration of existing and planned cultural assets at Prince Arthur’s Landing, development guidelines for areas near the CN Railway lands, and the preservation of spaces for cruise ship docking and habitat pond.

The City of Thunder Bay’s Growth Department will lead a visioning exercise and an update to the Phase 2 Waterfront Master Plan, building on this study’s insights to shape the future development of the waterfront.

“We appreciate the work of CEDC and its partners in advancing this important study, which provides a strong foundation for future planning,” said Kerri Marshall, Commissioner – Growth for the City of Thunder Bay. “This study highlights the incredible potential of the Pool Six lands to drive growth, attract investment, and expand Thunder Bay’s vibrant waterfront. By strengthening and enhancing this key area, we have a unique opportunity to boost the City’s tax base, support economic opportunities, and develop a more dynamic and accessible destination for residents and visitors.”

To stay informed and get involved in shaping the future of Thunder Bay’s waterfront, visit the City’s Get Involved page: thunderbay.ca/getinvolved

Click the link to view the Summary Report: https://gotothunderbay.ca/wp-content/uploads/2025/03/6179_CEDC_OnePager_WaterfrontFeb2025_final.pdf