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
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
First court appearance for boy and girl charged in death of Halifax 16-year-old
A girl and a boy, both 14 years old, made their first appearance today in a Halifax courtroom, where they each face a second-degree murder charge in the stabbing death of a 16-year-old high school student.