Vancouver Island Housing Prices and Starts Soared in 2017

Posted on Feb 15, 2018

Building Links has recently tabulated the year-to-date construction statistics for the Comox Valley and Campbell River areas for 2017. Construction values in all areas total $217 million, up by $11 million from 2016 to 2017.

Single-family home construction is also up slightly in Comox, Courtenay and Campbell River (6 per cent to 13 per cent) with Cumberland showing the biggest increase of 120 per cent and the CVRD coming in with an increase of 19 per cent.

Secondary suite and carriage home construction has increased significantly by 159 per cent from 2016 to 2017.

Moving forward into 2018, we expect to see continued high prices for residential housing due to lack of supply of zoned land and lots. In the Comox Valley, the average sale price of a single family lot hovered around $240,000 and in Campbell River, the average sale price of a lot was $150,000. To purchase a lot in the Campbell River area is $90,000 less expensive than in the Comox Valley.

In the Comox Valley, 889 single family homes were sold in 2017 and the average price was $491,428, an increase of 19 per cent in the past 12 months.

In Campbell River, 613 single family homes were sold in 2017 and the average price was $407,174, an increase of 18 percent in the past 12 months. (Information courtesy of Kutyn Appraisals).

What can we expect on Vancouver Island, moving forward into 2018? Higher prices in all areas of the residential sector.

Victoria’s increase in prices for residential housing is affecting most markets on Vancouver Island. According to a report from the Canadian Housing and Mortgage Corporation, published in January, 2017, Victoria had historically high housing starts for 2017. Multi-family structures accounted for the majority of housing starts, with elevated rental market starts pushing the total starts to its highest level since 1976. December of 2017 reflected this trend, with a 70 per cent increase in multi-family starts compared to the previous year.

Metro Victoria’s housing market showed strong price growth and overheating throughout the year, giving builders and developers strong incentive to break ground on new projects.

Clarice Coty is the editor of Building Links.
Contact: clarice@buildinglinks.ca or
find Building Links on Facebook

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Crown Isle Resort and Golf Community – 25 Years and Still Growing!

Posted on Feb 13, 2018

Photo Credit: Kristy Pedersen

The Crown Isle Resort and Golf Community is celebrating 25 years! The first homes in the Crown Isle Resort & Golf Community were constructed over 25 years ago and the community continues to grow as a master-planned community that has stood the test of time.

The owners and development team behind this prestigious real estate development believe much of the community’s success can be attributed its Registered Building Scheme & Design Guidelines which have ensured consistency and quality from the beginning, while helping to maintain property values within the master-planned golf community. 

The Crown Isle Community boasts wide, meandering roads which provide a spacious and scenic feel throughout the neighbourhood. Single family homes, patio homes and condominiums are situated on and around the golf course.

Golf course and mountain views abound from many of the established homes and available building lots throughout the community.

With the increase in demand for newly constructed homes in this desirable community, Crown Isle now has 14 different approved builders constructing new homes to meet the demand for new residents moving into the community. Find out more about about the Crown Isle community from this video

For more information contact:
Jason Andrew, Director of Real Estate
Cell: 250.207.0070
Email: jandrew@crownisle.ca

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What to Look For When Selecting a Vancouver Island Independent Living Community

Posted on Jan 29, 2018

Riverside Senior Living in Courtenay encourages you to consider several things when selecting a Vancouver Island Retirement Community, knowing that sometimes the small things that make a big difference. At Riverside, they’ll look after the details so that you can fully enjoy your day-to-day activities.

Fresh, Local and Tasty Food:
The culinary team at Riverside Senior Living is dedicated to using the fresh, local ingredients that the Comox Valley is known for, to provide healthy, fresh and tasty food to their residents. At Riverside Senior Living, you will be provided with three delicious meals a day, as well as a selection of healthy snacks.

The Perfect Location:
It’s important to know that the community you choose to live in is safe, friendly and full of easily-accessed amenities. Riverside Senior Living is set in downtown Courtenay, a small city of the beautiful east coast of Vancouver Island. A pharmacy, medical and dental offices, grocery store, travel agency, coffee shop and more retail stores are all located next to or near Riverside Senior Living. The new state-of-the-art hospital is only minutes away. Just steps from the paved Riverwalk, shops and services, Riverside Senior Living enjoys an idyllic setting in a friendly, active community.

Wellness and exercise:
You will find what you need for recreation, socialization and your general well-being on site.  Riverside Senior Living offers a dedicated social lounge, games room and indoor pool for residents. Classes and group activities are arranged for residents based on their needs and interests. A wellness spa and fitness facility will be open in 2018.

Contact Riverside Senior Living for a tour of the show suite and learn about the services and amenities. Phone 250.331.4010 or Pre-register online

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Crown Isle Community is Expanding as New Lots are Being Built in 2018

Posted on Jan 26, 2018

Silverado Land Corp., the real estate division of the Crown Isle Resort and Golf Course community is expanding with the addition of two major subdivisions.

Site services and road work is underway for Phase 3 of The Rise and construction is expected to be completed in April or May.

Additionally, there are 67 lots being built on the extension of Crown Isle Drive, in Cambridge Park Estates. This subdivision is expected to be completed in the summer of 2018.

Lot prices in The Rise are expected to start at $195,000; lot prices in Cambridge Park Estates are expected to start at $250,000. Many lots are already reserved in both subdivisions.

Make your inquiries now to find out more about the beautiful Crown Isle Resort and Golf Community in Courtenay, BC on beautiful Vancouver Island.

Note: Prices are subject to change without notice

For more information, contact:
Jason Andrew, Director of Real Estate
Cell: 250.207.0070
Email: jandrew@crownisle.ca

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Residents Moving in This Spring to The Comox Valley’s Newest Independent Living Suites

Posted on Jan 18, 2018

Renovations have begun at the Best Western Westerly Hotel in downtown Courtenay to create the Riverside Senior Living independent living community.

Phase 1 of renovations will see 48 hotel suites converted into Independent Living for seniors.

These new retirement living suites offer a choice between 320 sq ft studio units and 640 sq ft one bedroom spaces. All of the suites feature a full kitchenette with a full size fridge, and the 1 bedroom units have in-suite storage.

Included in the monthly fee at Riverside Senior Living are a host of amenities such as: heat, hydro and basic cable; housekeeping; three prepared meals daily; social areas including a media lounge; fitness facility; indoor pool; games room; and three onsite dining options as well as scheduled activities.

The renovated studio and one bedroom independent living suites will be available for occupancy in the Spring of 2018. Future phases will include an additional 48 units in a four-storey building and a separate seniors’ amenities building located alongside the river.

Book a tour today to view the show suite at Riverside Senior Living in Courtenay and learn about the amenities and services of the Comox Valley’s newest seniors’ independent living community.

The show suite at Riverside Senior Living is now open. Call 250.331.4010 or register on their website to arrange a tour.

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Riverwalk Centre in Courtenay Features Loft-Style Condos and Commercial Space

Posted on Jan 5, 2018

Courtenay’s new Riverwalk Centre is a mixed used building, featuring 16 unique modern condominiums with lofts all featuring views of the mountains or of the river and ocean. These loft-style homes are located on the upper floor of the building. The ground and mezzanine floor are zoned to accommodate commercial and office space.

The unique design of this building makes it a first of its kind in Courtenay. The developer, Highstreet Ventures Inc. (Scott Butler) along with partners Don Bell and Matt Butler of Traine Construction Ltd and one other investor have built four projects in Courtenay, including The Tides, a 45-unit condo project alongside the river, a Holiday Inn Express on Cliffe Ave and the recently constructed and sold out 71-unit residential condominium project called Riverstone.

Highstreet Ventures Inc. has jsut been honoured by PROFIT 500 on its 29th annual ranking of Canada’s Fastest Growing Companies.

The residential units are all designed differently, ranging in size from 551 sq. ft. to 1,101 sq. ft. There are 16 floor plans to choose from and the prices range from $229,000 to $399,900. Some of the features include: 15’ ceilings; large 7’ tall windows in every home; loft bedrooms that open to the living room below; open concept kitchen, dining, and living space, quartz countertops in the kitchens and bath; large format tile flooring throughout; and Energy Star stainless steel appliances and range hood exhaust fan.

Sliding barn style bedroom doors are featured in premium suites. There is a large shared rooftop patio for all residents to share. These units are expected to be released for sale on Jan. 6, 2018, with occupancy expected in February 2018.

Tenants who have purchased office/commercial space on the main floor include chiropractors, therapists and mortgage
brokers. Other tenants have expressed interest in the building. To date, there are three spaces left, ranging in size from
881 sq. ft. to 2,900 sq. ft., with prices ranging from $242 to $252 per sq. ft. to purchase the office space.

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