Penhold is the most recent focus in our series regarding the other (in addition to Sylvan Lake) top Central Alberta towns to build in. As the smallest of the lot, Penhold presents a unique opportunity for commercial businesses looking to set up shop in a burgeoning town before the continued growth drives up the price of land and development. In fact, it was reported this month (April 2016) that Penhold is expected to expand its borders and acquire 3,360 acres from Red Deer County through annexation. This will be the second time that the town has annexed land in just one decade. There’s a good reason for this, according to the town’s mayor:
“We have been growing at an alarming rate every year and we have to prepare for that.” (Penhold Mayor, Dennis Cooper)
What’s the root of this growth of (and interest in) this little Central Alberta gem? Let’s find out.