CDG Contracting’s development of 23 single-family homes on Cory Drive was one project that had continued despite LNG’s delay on their final investment decision. (Brittany Gervais photo)

Residential projects delayed for years in Terrace pick back up

LNG confidence a catalyst for progression, developers say

Development projects left dormant for years have jumped back to life since LNG’s final investment decision was finalized in October.

Several development projects skidded to a halt after LNG Canada delayed their decision on the $40 billion dollar Kitimat project in 2016. That has since changed, and investors are now brushing off the cobwebs and submitting preliminary plans and development applications for residential subdivision and development.

A few new property buys aimed at enhancing housing options in Terrace are also in the works.

“There is certainty now that there wasn’t then, and that seems to be the difference,” says city planner David Block.

Block says there has also been a spike in the number of small subdivision applications from three or four property owners who own small lots in the horseshoe or on the south side of the city.

This allows for the construction of additional units on the same lot, or the division of existing homes into multiple units to create residential space.

Close to 200 family homes will be built between five projects over the next couple of years, but real estate agents in Terrace say higher inventory levels may be needed sooner to meet buyer demand.

READ MORE: Real estate market explodes: “It’s been crazy”

“It depends on what happens come springtime,” says Sheila Love, REMAX managing broker for Terrace and Kitimat. “If it looks like we’re going to have a surge of people coming to Terrace and the northwest then it could be tight for homes.”

Activity has slowed since the LNG announcement in October and a few more homes have been listed in Terrace since, Love says, but inventory levels for single-family and multi-family homes are still low.

“We anticipate that we’re going to need them for sure,” says Love.

Subdivision on Mountain Vista Dr.

The 25.1-acre property at 5350 Mountain Vista Dr. south of Coast Mountain College may be purchased by investors from the Lower Mainland for development.

“That’s one I haven’t seen close a sale, but they called and said they were buying it, and they intend to go forward with subdivisions,” says David Block, Terrace city planner.

The current owners, MFC Enterprises Ltd. started on the subdivision project a few years ago in terms of lot layout and street planning. An amendment to the provincially-legislated land use contract was issued in 2014 to zone portions of the property as R5, high density multi-family residential, and R2, single-family residential.

READ MORE: More residential housing wanted in Terrace

Townhouse development on McConnell

On the bench, Vancouver developer SwissReal Group is tendering for the next phase of their proposed 35-unit family townhouse development on the 5100 block of McConnell Avenue. Phase one of the project is complete, with seven units built so far.

Jeremy Towning, SwissReal manager, says all seven units built so far have been sold, with a three-person bidding war on the last available unit, each valued at $400,000 or more.

He says the company is looking at establishing a long-term presence in Terrace.

“We love the place, we think it’s a beautiful area and we plan on building there for the next 25 years. We’re not going anywhere.”

The company plans to start construction on the remaining 28 units in early 2019, with an expected completion date before 2020.

Block says SwissReal has also indicated they’re looking to purchase the property on Thomas Street by Uplands Elementary and the larger property just west of that off of Halliwell Avenue.

While they can’t confirm what other locations they are looking at in Terrace, Towning says they are interested in building an industrial strata for retail, light industrial or manufacturing companies in the area.

He says SwissReal is also considering purchasing property for a potential walk-up apartment building.

READ MORE: Developer firm about Terrace, B.C. housing plan

Residential townhouse, commercial on Lanfear Hill

Vancouver developer Kenneth Kim Architecture Inc. has sent preliminary plans for a phase strata townhouse project on 3725 Thomas St., a development similar to SwissReal’s proposal.

The developer purchased the 5.28 acres on top of Lanfear Hill back in 2014.

The property is split into two residential sites with 70-75 units between them, with plans to develop one small neighbourhood commercial site.

“There’s really no small scale or large scale commercial there, so if the residents need something small they need to drive all the way down the hill,” says Kenneth Kim, architect. “We wanted to provide some space where neighbourhood commercial retail activity can take place.”

Kim says market demand and the positive financial decision for LNG spurred the residential development to move forward after years of inactivity.

The developer is now waiting on clearance from the city and a geotechnical review of Lanfear Hill before they can formally submit an application.

READ MORE: Terrace, B.C. council approves rezoning for huge Bench development

Duplexes on Halliwell, single-family homes on Cory

Another bench property owned by local builder Lyle Salekin of CDG Custom Contracting has submitted preliminary proposals for their project on 4921 Halliwell Avenue, adjacent to Uplands Elementary.

Spanning less than one-hectare, the property was rezoned three years ago to R3 (low-density multi-family residential) with the intent to build 12 duplexes containing 24 total units, though no development application has been received yet.

READ MORE: Bench area to be site of townhouses in Terrace, B.C.

CDG Custom Contracting’s subdivision project on the northern half of Cory Drive is ongoing with 23 single-family homes.

“We’re the only builder that didn’t stop when everyone else stopped three years ago,” Salekin says.

Fourteen single-family homes have been built so far with nine single-family homes currently under construction.

All but one of the homes have sold, each valued between $450,000 to $650,000.

“Three weeks before the [LNG] announcement we saw a considerable amount of activity.”

Salekin estimates construction on Cory Drive should be complete by spring 2019.

45-home subdivision on Graham

The city has received a development application for phase one of the 45-home subdivision proposed at 4645 Graham Avenue, owned by Rod Pelletier of N.C. Properties Inc.

The northern parcel is a long, thin lot that shares its eastern boundary with the Terrace Trailer Court. In 2016 council approved the 1.6-hectare section to be rezoned from agricultural to multi-family low-density residential.

On Nov. 26, council passed the first and second readings of a rezoning amendment that would allow for single-unit family homes to be built within the subdivision.

READ MORE: Variance permits bring developer closer to 45-home subdivison


 


brittany@terracestandard.com

Like us on Facebook and follow us on Twitter

Just Posted

Shames Mountain creates new fund for youth in memory of late founder

The ‘Billey Season Youth Pass’ will be given out annually

Coastal GasLink gets interim injunction against Unist’ot’en

The LNG pipeline company can start work Monday with enforcement approved by court.

Terrace users on Facebook post warnings about vehicle break-ins

RCMP say it’s important to always lock your doors

Oil tanker ban to be reviewed by committee

Indigenous groups for and against Bill C-48 travel to Ottawa to influence the Senate’s decision

Supportive housing project delayed until end of winter

Rainy conditions have stalled groundwork for the 52-unit development on Olson Avenue

REPLAY: B.C’s best video this week

In case you missed it, here’s a look at the replay-worth highlights from this week across the province

Microscopic parasite found in Prince Rupert water affecting thousands

More than 12,000 residents affected by the boil water advisory issued Dec. 14

Trudeau lashes out at Conservatives over migration “misinformation”

Warning against the “dangers of populism,” Trudeau says using immigration as a wedge political issue puts Canada’s future at risk.

B.C. hockey coach creates ‘gear library’ to remove cost barrier of sport

Todd Hickling gathered donations and used gear to remove the cost barrier for kids to play hockey.

Canada’s ambassador meets with second detainee in China

Global Affairs says John McCallum, Canada’s ambassador to China, met with Spavor Sunday

‘They’re coming:’ Flying cars may appear in urban skies by 2023

Air taxis will number 15,000 and become a global market worth $32 billion by 2035

B.C. VIEWS: Andrew Wilkinson on taxes, ICBC and union changes

Opposition leader sees unpredictable year ahead in 2019

5 tips for self-care, mental wellness this holiday season

Ministry of Mental Health and Addictions urging British Columbians to prioritize self care through festive season

Rescued B.C. cat with misshapen legs in need of forever home – with carpet

Mirielle was born with misshapen back legs and after a tough life on the streets, is looking for a forever home.

Most Read