A public hearing slated to take place today (July 7) for an application to amend the Official Community Plan and Zoning for a 16-parcel subdivision on a property in Qualicum Beach was cancelled, at the request of the developers.
The property, located at 850 Eaglecrest Dr./2075 Island Highway, needs to be rezoned from R1, which only permits two dwellings, to R12 as the developer plans two establish duplexes. The OCP requires amendment as the land is designated Estate Residential, which only allows maximum density of one dwelling per hectare with a maximum of two dwellings per parcel. It is also located outside the urban containment boundary.
READ MORE: Qualicum Beach developers say some concerns with proposed project now based of facts
Developers Richard and Linda Todsen, of Todsen Design and Construction Ltd, were required to provide a land lift analysis. On Feb. 10, an appraisal of the property was presented. It was valued at $640,000 and if rezoned the land value goes up to $1.6M which reflect a land lift of $960,000. Based on the rezoned value, the developers will be required to make an amenity contribution of $480,000.
Town of Qualicum Beach Coun. Teunis Westbroek then requested an independent review of the land lift analysis on Feb. 21, which council endorsed.
The town engaged Coriolis Consulting Corporation and on June 25 submitted its findings to the town. It showed that the land value of the 6.4-acre property is between $320,000 and $640,000 under current zoning. If rezoning is approved to permit the proposed 16-lot subdivision, the value of the land is from $2.2 million to $2.5 million.
The value of the community amenity contribution is 50 per cent.
Based on the consultant’s report, staff recommended a CAC contribution of $1,090,000. Westbroek wants the contribution to be allocated to the construction of a roundabout in the Eaglecrest Drive and Village Way intersection.
