COMOX VALLEY – The Comox Valley Regional District (CVRD) board has now approved revisions to the Kensington Island Properties Master Development Agreement (MDA), which will bring almost 3,000 housing units to the area over the next 20 years.
Kensington Island Properties (KIP) is a proposed development within Union Bay. The CVRD’s Regional Growth Strategy identified Union Bay as a settlement node that would accommodate moderate growth over the next twenty years.
As part of the development, the developer proposes to construct two golf courses plus a mixture of housing and commercial space which could ultimately include approximately 2,889 units once fully built out.
As part of the updated MDA the developer will dedicate 51.3 hectares of parks and trails, provide a 1.62 hectare lot to Union Bay Improvement District (UBID) for the purposes of a new water treatment facility, a one hectare lot to UBID for construction of a new fire hall as well as the provision of 30 serviced lots for affordable housing, to be supplied by 2027.
The developer will also provide sewage treatment infrastructure for the development which could be expanded to provide wastewater service to some of the surrounding area.
“The revisions open the door for the community benefits associated with this project to come to fruition,” explains Ann MacDonald, General Manager of Planning and Development Services for the CVRD. “The community of Union Bay and residents of the Comox Valley will benefit from the amenity contributions that the developer will be providing.”
The revisions to the MDA include:
- Permission for the development to proceed in phases with Union Bay Improvement District (UBID), the autonomous government responsible for managing water, and KIP having a water agreement in place prior to each phase;
- Donation of six affordable housing units by the developer within the first phase plus the remainder of 24 units to be provided by 2027;
- Donation of a cash contribution by the developer of $250,000 by December 31, 2017 to the CVRD Homelessness Supports Service;
- Removal of the density bonusing provision that previously provided for triple the density within the zoning in exchange for affordable housing multi-family lots;
- Removal of the Coal Hills and Coal Storage Lands from the KIP area plan as this is now Crown Land and will be remediated by the Ministry of the Environment;
- Donation of 16 per cent parks and trails by the developer (a total of 51.3 hectares) with 36.7 hectares being provided during the first phase of development; and
- Donation of a 1.62 hectare parcel by the developer to UBID for the purpose of a new water treatment facility and a one hectare parcel to UBID for a new Fire Hall.
“I am pleased to see this project move forward,” says Brian McMahon, Vice President for Kensington Island Properties. “Kensington Island Properties is going to breathe new life to the Union Bay community and region. The new amenities, infrastructure and affordable housing units are going to make Union Bay a great place to live.”
For more information on Kensington Island Properties visit the regional district website.