$1,500,000 Canadian 50 Acres with Attractive Subdivision Development Potential
The economic potential of this property is considerable due to the attractiveness of Cortes Island and the relatively small amount of land remaining where the current zoning provides for subdivision development. This is the only remaining large parcel zoned for smaller acreage residential subdivision in the area. The current owner hoped that innovative ownership could enable local families to purchase the property but the bylaw changes have excluded this. It is therefore being offered for sale at a price attractive to someone with community sensitivity and development skills.
	Zoning is R-1, which permits subdivision into 2 or 2.5-acre lots depending on services, each with one residence plus a secondary dwelling/cottage of reduced square footage. The favorable terrain and proximity of existing roads and services will likely keep development costs low. There is good demand for more modest sized acreages on Cortes Island. Land value has been steadily increasing on the island for many years. Now that Cortes Island has been "discovered" the natural, rugged beauty of the Island, the variety of on-island and regional outdoor activities and its relaxed lifestyle is fueling high demand and rapidly escalating land values. Land has sold quickly in recent neighboring subdivisions of modest sized acreages.
There are some powerful positive considerations: · Cortes property values are not dragging behind to the contrary they are pulling ahead. · The various critical factors that support a smooth subdivision without delays and hurdles are know and favorable. · The critical issue of water quality and quantity is supported by the neighboring development ground water supply study. · Septic system permits are almost assured based on the professional study completed by the owner. Recent changes in the Ministry of Health policies make things even easier. · The zoning is in place and accommodates subdivision without bureaucratic or political hurdles. · Overall, it is likely that this will be a fairly quick easy development, which will show a significant return for the investment.
Much of the island has a diverse uneven and rocky topography, however the south peninsula, where this property is located, is flat and would be easier to develop. The property spans ½ mile with access from north and south. To the south is a 30-acre forested park. The north end is the heart of Manson's Landing, the social and commercial hub of Cortes Island. The property was logged 20 years ago and natural re-growth of Alder, Douglas Fir, Red Cedar and Hemlock is well established. The terrain is almost flat with a gentle downward slope towards the east. There is good drainage and soil cover. A recent professional study for an adjacent subdivision confirmed excellent aquifer performance. Historically, deep wells are productive throughout the south peninsula. A recent professional study for an adjacent subdivision confirmed unusually good aquifer performance.
	Cortes Island is the size of a large city with a population of around 1000 people. A relaxed rural lifestyle is evident throughout, particularly in the Community Hall, which hosts the Post Office, Library and small College. "Downtown Manson's" includes the School, Medical Centre, Cortes Market General Store, restaurant, credit union, fire hall, museum and future housing for seniors. Undeveloped commercial land provides for future expansion. Provincial Parks with beaches, public dock and freshwater lakes are minutes away.
Cortes Island, part of the Discovery Islands is considered a major gateway to the very popular Desolation Sound region, well known for its waterfalls, secret coves, rock cliffs and tranquil natural beauty with plenty of opportunity for wildlife viewing, including bald eagles and bears. For the outdoor enthusiast it is truly one of the best jumping off points for a variety of outdoor activities including fishing, prawning, kayaking & hiking. This area enjoys a nice temperate climate and the waters here are warmer than in most other areas on the coast.
	Access to Cortes Island is a 45-minute trip via regularly scheduled ferry service from Heriot Bay on Quadra Island. Quadra Island is a short 10-minute ferry ride from Campbell River.
Zoning: R-1 Regional District of Comox-Strathcona 2006 Taxes: $2,229.29 Latitude: 50° 03' Longitude: 124° 59'