Construction on the new Canadian Institute of Rural Entrepreneurship has been suspended until spring.
"It has mostly to do with cost. It is not very efficient to build in the winter,î said Ryan Pomeroy, president of the Pomeroy Group.
"We got started a little bit later than we would have liked. It did not make good business sense to continue going.î
The institute, which is a partnership between the Pomeroy Group and Olds College, will include a four-star hotel, restaurant and convention centre with a commercial kitchen suitable for student training. Students enrolled in the college's upcoming country-side management would train at the institute. Its location at the north side of the Olds College campus was chosen for its close proximity to existing college research and production facilities.
The facility is now expected to be ready in the fall of 2013, instead of the spring of 2013.
Meanwhile, Alberta Transportation is currently reviewing a traffic impact assessment for the hotel and convention centre to access Highway 2A.
"We are still ironing out the details of what improvements to Highway 2A and Highway 27 are going to be required as part of the impact assessment,î said Russ Watts, operations manager with Alberta Transportation.
