The Alberg family farm in Saanich's Blenkinsop Valley has been purchased by Victoria-based real-estate developers Tri-Eagle Development and Jawl Residential for an undisclosed sum.
The four acre parcel at 1516 Mount Douglas Cross Road was removed from the Agricultural Land Reserve (ALR) in 2015 following a decade of rejected development plans and political wrangling as the Alberg family tried to adapt their land to the realities of a growing residential district in a former farming community.
Last fall council voted to rezone the farm into a housing subdivision on the eve of the Agricultural Land Commission's decision to support its removal from the ALR, a necessary break from municipal protocol to ensure the land could not be caught in a state of limbo having lost its ALR designation without support for an alternate use.
Tri-Eagle president, Travis Lee, said the rezoning represented an opportunity to acquire a desirable property in a part of Saanich with significant pent-up demand for developable land.
"There exists a great deal of demand for home sites in Saanich East and we're quite bullish on subdivisions and infill in that area," Lee said, adding that individual parcels in Saanich East may have upwards of 200 interested buyers competing for land.
Tri-Eagle and Jawl Residential plan to service sixteen individual lots sized between 8,000 and 10,000 square feet with home sites approved for upwards of 3,000 square feet. Although the duo is known for developing properties, in this case the plan is to sell individual parcels to home buyers or builders with prices ranging from $500,000 to $600,000, Lee says.
"We'll service them and make them available as individual parcels. Single-family development is not what we normally do, in fact we haven't been involved with single-family-homes since the mid-1990's, but with the demand that's out there we recognize the opportunity." C
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