Trilogy at Cumberland: Listening to the Village, Learning from the Land

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THE LAND SECTION

The Comox Valley is growing fast

Stretching 50 kilometres along Vancouver Island's north central coast, the Comox Valley is one of the last 'undiscovered' and yet totally accessible recreational paradises left in British Columbia.

Until recently, getting to the Comox Valley took some time, so few Island visitors ventured much past the Nanaimo/ Parksville/ Qualicum Beach area. The economy was largely resource-based until the late '90's, so jobs came and went with the market. Low lumber prices and reduced commercial fishing opportunities hit the Valley particularly hard from 1995 through 2001.

Since 2001 however, two major 'growth contributors' have collided to change the Comox Valley from a resource-dependant economy to an 'amenity-based' one. Simply put: improved transportation links to and throughout the north central Island coincided with the timing of the first of Canada's baby-boomers starting to retire.

Unlike the unpredictability of the resource market, both these growth factors are expected to have a positive influence on the Comox Valley for some time to come. Tourism is blossoming in response to easier access, and the baby-boomers (who Statistics Canada estimates represent 30% of the nation's population today) will continue to retire through 2031.

A winning combination: Amenities, Accessibility and Affordability

As more people visit the Valley, an increasing number of them choose to stay. B.C. Stats reported that from July 1, 2005 to June 30, 2006, the population of the Comox Valley grew by an average of 1.9%, which is slightly higher than the B.C. average of 1.2%.

The largest percentage increase was reported in Courtenay (+3.37%), and the second-largest in Cumberland (+2.27%). It further found that 79% of the net population growth in throughout B.C. was attributable to people 'migrating in', rather than to the difference between the number of births and deaths in the existing population.

While British Columbia as a whole experienced the lowest number of housing starts in 2009 since the year 2000 (down by 53% from 2008) , the Courtenay region recorded a whopping 18.7% increase, while Campbell River housing starts grew by 37.7% over the same time period.

Increased accessibility and discovery of the Comox Valley as an 'amenity lifestyle' destination has resulted in huge growth in employment, commercial development, residential development, and construction. Residential real estate, while 76% higher-priced than it was in 2001, is still among the most affordable in B.C. given the area's climate, accessibility and natural amenities.

Bringing young families back to the Valley

The population in the Comox Valley is typically older than throughout the rest of B.C., due to many of its young families moving away during the 'lean years' to seek better employment opportunities elsewhere. The dominance of the 'over 40's' that is evident now is expected to continue through the next decade; with the most rapid growth likely to occur in the 55+ age group.

In addition to the 'greying' of the Valley population overall, B.C. Stats also project a surprising increase in the number of 20- 40 year olds expected to be living in the Comox Valley in 2015. This is as a result of the increased employment opportunities that new residents, new retail and commercial expansion, and new residential developments are bringing today.

A strategy for growth

Since its inception in 2008, the Comox Valley Regional District has embarked on a number of strategies to assure that municipal growth, water, sewer and community sustainability are handled from a "big picture" point of view throughout its three municipalities. Highlights of the Regional Growth Strategy (still in Draft form) are shown on the Master Plan/ Comprehensive Planning page.

TRILOGY

Suite 1268, 550 Burrard Street, Vancouver, British Columbia, Canada V6C 2B5
Telephone: 604-684-5858; Fax: 604-684-5859

info@trilogyproperties.com
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