Colwood development announces $1.2B construction plan
Two Vancouver-based development companies have announced their 15-year masterplan for developing the Royal Beach area of Colwood, B.C.
The 135-acre site will be home to approximately 2,850 homes, retail space, and commercial space over the next decade-and-a-half, according to developers Seacliff Properties and Reliance Properties.
The homes will include a mix of single-family houses, townhouses, and apartments.
The $1.2-billion masterplan also includes 47 acres of green space, some of which will be public parks with ocean views, according to developers.
The Royal Beach site was home to a rock and gravel quarry until 2008.
The site was purchased by Seacliff Properties in 2017, and since then the company has worked on planning and public consultations to have the project approved.
"Residential and commercial construction are significant contributors to employment with a ripple effect across the community," said Jon Stovell, CEO and president of Reliance Properties, in a release Monday.
"As each phase completes, Royal Beach will bring hundreds of new residents and workers to Colwood who will create millions of dollars in economic benefits for local businesses for the lifetime of those businesses."
Details on when each phase of the project will be complete and open for tenants were not announced Monday, though developers say the "first signs of development" will begin this spring.
Colwood Mayor Rob Martin says the development is exciting news for the community.
"Make no mistake, Colwood is on the map and that’s why notable organizations are making long-term commitments here," said he said Monday.
"In addition to Royal BC Museum, Island Health, Seaspan and many others, Seacliff and Reliance’s investment of $1.2 billion will go a long way to helping grow our local economy."
CTVNews.ca Top Stories
Former homicide detective explains how police will investigate shooting outside Drake's Bridle Path mansion
Footage from dozens of security cameras in the area of Drake’s Bridle Path mansion could be the key to identifying the suspect responsible for shooting and seriously injuring a security guard outside the rapper’s sprawling home early Tuesday morning, a former Toronto homicide detective says.
Federal government grants B.C.'s request to recriminalize hard drugs in public spaces
The federal government is granting British Columbia's request to recriminalize hard drugs in public spaces, nearly two weeks after the province asked to end its pilot project early over concerns of public drug use.
Stormy Daniels describes meeting Trump during occasionally graphic testimony in hush money trial
Stormy Daniels took the witness stand Tuesday at Donald Trump's hush money trial, describing for jurors a sexual encounter the porn actor says she had with him in 2006 that resulted in her being paid off to keep silent during the presidential race 10 years later.
MPs agree Canadian gov't should improve new disability benefit
The federal government needs to safeguard the incoming Canada Disability Benefit from clawbacks and do more to ensure it actually meets the stated aim of lifting people living with disabilities out of poverty, MPs from all parties agree.
Bye-bye bag fee: Calgary repeals single-use bylaw
A Calgary bylaw requiring businesses to charge a minimum bag fee and only provide single-use items when requested has officially been tossed.
CFL suspends Argos QB Chad Kelly at least nine games following investigation
The CFL suspended Toronto Argonauts quarterback Chad Kelly for at least nine regular-season games Tuesday following its investigation into a lawsuit filed by a former strength-and-conditioning coach against both the player and club.
Boy Scouts of America changing name for first time in 114 years, aiming for inclusivity
The Boy Scouts of America is changing its name for the first time in its 114-year history and will become Scouting America. It's a significant shift as the organization emerges from bankruptcy following a flood of sexual abuse claims and seeks to focus on inclusion.
opinion Tom Mulcair: Trudeau's handling of Poilievre's 'wacko' House turfing a clear sign of Liberal desperation
When Speaker Greg Fergus tossed out Pierre Poilievre from the House last week, "those of us who have experience as parliamentarians simply couldn't believe our eyes," writes former NDP leader Tom Mulcair in his column for CTVNews.ca
New charges for Ont. woman who previously admitted to defrauding doulas
The Brantford, Ont. woman who was previously sentenced to house arrest after admitting to deceiving doulas has been charged again in connection to a new victim.