Kensington Union Bay Properties Limited recently held a press conference to announce the launch of the Union Bay Estates development – a residential and commercial development located on 850 acres in Union Bay, in the Comox Valley on Vancouver Island.
The Master Development Agreement for this project allows up to 2,949 new residential units to be built. Currently, there are approximately 1,200 residents in Union Bay and the population could increase by an additional 7,500-9,000 once the project has been built out.
A subdivision application to the Ministry of Transportation and Highways and the Comox Valley Regional District (CVRD) is expected to be submitted very soon. The first phase will include a three-storey commercial building, and 30 lots for single-family homes, nine of which are zoned to accommodate a carriage or laneway home.
Union Bay Estates will include many residential options including multi and single-family residential, retirement and senior living, work/live homes and affordable housing.
As a destination community, the development will also incorporate mixed-use commercial spaces, along with two new hotels, a marina, and amenities such as a pharmacy, medical clinic, coffee shop, movie theatre and more. Work on the water treatment plant, roads, and other infrastructure is expected to begin this year.
Construction of Phase 1, to build 30 single family homes is expected to be underway in the summer of 2019.