Project Summary

The Union Bay Development has the potential to be one of the most exciting mixed-use real estate projects ever undertaken in British Columbia. The 789 acre property is located on the east coast of Vancouver Island, between Nanaimo and Cambell River. Over 90% of the property is waterfront or water view land with spectacular vistas of Baynes Sound, Denman and Hornby Island, the Straits of Georgia and the Coastal Mountain Range. Owned by Kensington Island Properties (KIP) , the entire property has been re-zoned and is fully approved for up to 3,354 doors. It is divided into five Comprehensive Development Zones (CD Zones) that can be phased commensurate with the current absorption rates for the market on Vancouver Island.

 

The proposed Union Bay Development is actually two distinct projects separated by the Coastal Highway (19a). 52 acres on the waterfront, to the east of the Coastal Highway, (CD Zone 2 and 3), have been zoned for a Waterfront Village featuring a 300+ slip marina, a total of 441 residential doors including a 123 room hotel and condo-hotel, 136 waterfront and 62 garden court condominiums and 120 single-family units. Retail spaces are also planned. 737 acres on the sloping hillside to the west of the Coastal Highway. (CD Zones 1, 4 and 5) comprise a residential project zoned with the potential of 1600 to 2000 single and multi-family doors. Space for a retail village will provide for the needs of local residents.

 

Vancouver Island has recently been rated by Conde Nast Traveler and Travel and Leisure Magazine as, “The best island in North America” and The Globe and Mail (Feb.10, 2014) has called the Comox Valley, one of “the most desired retirement destinations in Canada.” The diversity of this property is unique and the ecology unparalleled, providing a spectacular backdrop to life in this exceptional part of the world.

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