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

Read More

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

Read More

New Home Construction Has Begun in Phase II at The Ridge

Posted on Dec 24, 2017

New home building is now underway in Phase II at The Ridge. Many homes are under construction and three of their premier home builders are busy. Lawmar ContractingBrando Construction and one of their newest builders, Candor Developments all have new homes under construction.

This new phase includes 43 single family lots with zoning to accommodate secondary suites.

Contact any of the premier builders at The Ridge for more information on new homes for sale:

From all of us at The Ridge, we wish you a Happy New Year!

Phone: Bruce Clapham 250.650.8588
Email: theridge.bruce@mail.com
Follow us on Facebook

Read More

Meet the Team Behind Riverside Senior Living in Courtenay

Posted on Dec 21, 2017

The Comox Valley’s newest retirement residence, Riverside Senior Living, is locally owned and operated by an experienced residential development and hospitality management team.

Managing partners Stan Sprenger and Rick Browning bring extensive experience from projects in BC, and across Canada and the US.

Since 2006, they have owned and operated the Best Western Westerly Hotel in downtown Courtenay. In the past decade, they have added a 36-suite hotel wing with ground floor retail, rebuilt the pub, kitchen and catering facilities, and are now building all of the facilities for Riverside Senior Living, which is set adjacent to this full service hotel.

Stan has more than 20 years of hospitality development and management experience. Prior to launching his own private company in 2006, he was president of Intrawest vacations and lodging operations, overseeing 10 North American resorts.

Rick brings a background in developing and managing a luxury senior’s housing complex in California, as well as major retail, hospitality and residential projects in BC over the past 30 years, with his company Western Management.

Together with their management team, Rick and Stan are working to develop a unique concept in retirement living for the Comox Valley. Riverside Senior Living will welcome its first residents in the spring of 2018. Residents can choose from one bedroom or studio suites, equipped with kitchenettes. Amenities will include a spa and fitness facilities, a swimming pool, billiards lounge and social areas.

Book a tour of the newly opened show suite and learn about all of the options and amenities available at Riverside Senior Living. Call them at 250.331.4010 or register on their website.

Read More

Two New Hospitals Opening This Fall on the North Island

Posted on Sep 13, 2017

Residents of the North Island will be visiting their new hospitals soon as both campuses in Campbell River and Courtenay are set to open in the next few weeks.

The 153-bed Comox Valley campus in Courtenay will have an expanded emergency room, surgical care space and University of BC academic teaching space.

In Campbell River, the 95-bed campus will include larger single-patient rooms with more private space for patients and their families, a larger emergency department and a bigger maternity ward, with two large birthing rooms to accommodate extended family.

The new hospitals in Campbell River and Courtenay were opened to the public for open houses in August and approximately 4,000 people turned out for self-guided tours of the North Island Hospital campuses. There is an excitement about the new hospitals for residents, staff and volunteers.

The $606.2 million North Island Hospitals Project includes a $331.7 million, 153-bed Comox Valley Hospital in Courtenay on Lerwick Road near Ryan Road, and a $274.5 million, 95-bed Campbell River Hospital on the existing hospital site.

Construction of the new hospitals created an estimated 2,200 direct jobs and more than 1,400 indirect jobs over the life of the project.

The economic and social benefits of the North Island Hospitals Project extend well beyond job numbers, said NIHP Chief Project Officer Tom Sparrow.

He notes the project to date has purchased $165 million worth of equipment, products and services from a wide range of Island suppliers.

The North Island Hospitals Project has been recognized as one of BC’s ‘Champions of Apprenticeship’ by the Industry Training Authority, which funds skilled trades training in BC. The North Island Hospitals Project won another award for innovation excellence. The project’s design builder, Graham, won Gold in the ‘Builder/General Contractor Commercial over $500 million’ category at the Constructech Vision awards in Chicago August 18, 2016.The award is from Chicago-based Constructech Magazine, which celebrates the places “where construction and technolog converge.”

The North Island Hospital’s Campbell River campus is projected to open on September 10, 2017 and the Comox Valley campus on October 1, 2017.

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

Read More

Several New Seniors’ Housing Projects in the Works for Vancouver Island

Posted on Sep 8, 2017

More and more seniors are seeking a place to transition to, and there are several projects under way to meet the high demand on Vancouver Island.
There is a total of 345 new seniors’ units that will be built within the next 24 – 36 months in the North Vancouver Island region.

■ ■ ■
In Courtenay, a public hearing for the proposed seniors housing complex on five properties located near the intersection of
Cliffe Avenue and 29th Street was held in August. Each of the properties fronts onto Cliffe Avenue and has views of the Courtenay Riverway and the ocean. The applicants are proposing to rezone two properties and to add a care facility and complementary uses as a permitted uses in the R-4A zone. The proposed seniors housing complex is comprised of approximately 78 independent living units in a four-storey building, and a 76-bed assisted care facility a two-storey building.

■ ■ ■
Also in Courtenay, Phases 1 and 2 of a renovation project for the Westerly Hotel is underway to move forward to convert existing hotel suites into 48 seniors’ residences for Phase 1. Further enhancements in Phase II will include the addition of amenities, such as a new dining room and media room.
The decommissioning of hotel units is underway now and the renovation of the independent studio and one bedroom units are expected to be completed in Feb. of 2018. Phase 3 is in the planning stages and will include an additional 48 units in a four-storey building located alongside the river. Upon completion of this project, which is expected to take 24 months, the hotel will continue to operate alongside the seniors’ residences.

■ ■ ■
Port Alberni – Following a public hearing, city council has taken another step in the proposed development to Westporte Park, a seniors development. The proposed development includes 20 units of one-bedroom housing, which will accommodate either couples or single seniors. If approved, construction is planned to begin in the fall of 2017.

■ ■ ■
Powell River – The Committee of the Whole has recommended the approval of a development permit for a seniors’ housing project known as Coastal Winds and a Zoning Bylaw Amendment received first and second reading in April. Inclusion Powell River and Golden Life Management are proposing to build a 75-unit seniors’ housing complex next to Powell River General Hospital. The intention is to build the project on a 3.5-acre parcel located on Joyce Avenue. The rezoning application requested a change from R-1 to Comprehensive Development Zone, paving the way for a mixed-use facility that could include businesses on the main level and living units on the upper levels. Once all approvals are in place, this project is expected to begin construction.

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

Read More