Planning for a 500-acre community in the Comox Valley with the potential to deliver hundreds of homes is underway as developers respond to growing demand for residential real-estate on Vancouver Island.

 

Comox-based 3L Developments is in the initial stages of presenting a refined concept for its Riverwood proposal for what company representatives hope will become a nearly 250-acre public park with access to the Valley’s Stoten Falls nature area, nearly 350 single-family-homes with secondary suites, and just over 100 multi-family residences.

 

Rob Buchan, the spokesperson for Riverwood, says the master-planned proposal, going before the region’s Area Planning Committees later this summer, represents a unique opportunity to add more homes to the mid-Island while creating a significant green space amenity for all residents to enjoy.

 

“This is a special piece of land in the Comox Valley,” Buchan says. “This proposal provides the opportunity to have the falls and surrounding area as a park while offering much-needed housing for families.”

 

Situated in the area of Duncan Bay Main Line Road and Powerhouse Road, Riverwood will focus residential density throughout the western portion of the 500-acre holding that has already been logged, while nearly a kilometre and a half of riverfront forestland will stretch to the east.

 

“We’ve worked to put together a proposal that allocates the most amount of park space for the public in the areas people currently use, and to locate the homes in a logical location that avoids further logging,” said Buchan. “We feel we have struck a balance to make the best use of this property.” 

 

A site plan depicting the development proposal, with housing situated along the western-most portion of the tract. Parkland, including Stoten Falls, is designated throughout most of the eastern portion of the land along the Puntledge River.  3L Developments

 

3L’s vision emerges from previous plans aired over the last decade that concentrated housing across a larger footprint that would have necessitated extensive tree removal. The new direction will concentrate buildings some 200 meters northwest of the Puntledge River and away from a hydroelectric line that stretches past the development site, while only 25% of the land will be developed. A modification to the Comox Valley’s Area Growth Strategy would be required to accommodate housing beyond an already designated settlement zone just west of the property.

 

And as part of the updated proposal, ten hectares of land will be provided to the K’omox First Nation. 3L is also in discussions with the local government to incorporate an affordable housing component into Riverwood.

 

At build-out, the project will consist of 335 single-family-homes with secondary suites catering to the rental market, 54 low density multi-family homes and a further 56 medium density multi-family homes. A 15,000 square foot neighbourhood commercial space will be situated within the development as part of a central village green.

 

The new Riverwood concept comes as Vancouver Island developers respond to growing demand for real-estate by retirees from across the country looking to the coast as an age-in-place destination, and among families in search of semi-rural housing close to parks and nature. Meanwhile, an uptick in interest among individuals choosing rural communities in lieu of urban environments in a post-COVID reality has heightened awareness of up-Island communities.

 

“The Comox Valley is a wonderful place to raise a family, or to spend your retirement years, and word is certainly getting out about the benefits of living here,” Buchan says. “We’ve actually seen strong interest in Courtenay and Comox from potential purchasers currently living on the south Island who feel its time to move to a less populated area. And with its coastal setting, the ski resort of Mount Washington just minutes away, and easy access to sea, air and road infrastructure, the Comox Valley is also a leading choice for retirees who are looking to sell their homes in bigger cities in favour of more rural communities that have fared well during COVID-19.” C

Receive Citified's timely real-estate news straight to your inbox. Sign up for our newsletter.