First release of Phase One of Lantzville’s newest development now sold out
Lantzville B.C. Lone Tree Properties Ltd., a subsidiary of Storm Mountain Development Corporation, announced today the launch of a second release of properties at The Foothills in Lantzville B.C. The first release of home sites are now sold out with over $23 million in sales and a second series of 31 view lots has now been announced for release in Spring 2018. $15 million in total funding for the civil infrastructure has been approved and construction is now underway.
Phase One officially went on sale April 29, 2017 and experienced tremendous success selling 51 of the 71 lots in one weekend; Phase One is now sold out. Construction on the site began September 18 with Knappett Industries Inc. mobilizing their work force and commencing work on the roads. By Summer 2018, The Foothills expects to have dedicated over 700 acres of land to the community for park use. A construction management plan has been developed with Knappett to minimize impact on our neighbours during construction wherever possible. Now that construction has begun the site is officially closed to the public for safety reasons.
Vancouver Island continues to experience an inventory crisis. According to the Vancouver Island Real Estate Board (VIREB) single-family home sales dipped in August, down to 540 from last year’s 622, a decrease of 13 per cent. The board attributes the decrease in sales to a lack of inventory, not a cooling market.
“We are pleased to see construction underway and that we are making progress at The Foothills,” says Allard Ockeloen, Chief Executive Officer, Lone Tree Properties Ltd. “Our goal is to present Lantzville as a beautiful place to live and to make sure that home sites are available to help satisfy the high demand for housing on Vancouver Island.
Homes will be built by local high-quality builders and are expected to be family oriented and high-end with spectacular views. Residential home site prices range from $250,000 to over $500,000 with the majority of home sites being in the low $300,000 range.
Phase one construction consists of infrastructure and roads to service the development. Construction of two reservoirs, approximately 3.5 kilometers of roads, water line installation to connect new water wells and lots, utility underground services for Hydro, Fortis gas, Shaw and Telus, sewer connection and paving of all roads and required sidewalks will be completed by Knappett Industries while Herold Engineering will lead engineering on the project.
“It’s great to be working on a local project in Lantzville,” says Yosef Suna, project manager, Knappett Industries. “We care about the community so we want to be respectful by doing our best to minimize construction impact where possible.”
Brian Brock-Phillips, construction manager for The Foothills, predicts the total number of jobs created for this phase from the engineering and design to the final landscaping could encompass as many as 100 people.
Extensive environmental studies have been conducted on the land to distinguish where the development interacts with sensitive areas and what the best practices are to ensure minimum to no impact. Construction will be conducted carefully and progress will be gradual in order to avoid major impacts to the community members.
Photo caption: The first release of home sites are now sold out with $23 million in sales and $15 million in approved funding for the civil infrastructure now underway.
Photo credit: The Foothills
The Foothills is a multi-phase, 1838 acre, master-planned community. The community is currently zoned for 730 homes, a mixed-use village area and a 900-acre park. Predominately zoned as ‘residential, the project’s second phase will include a range of residential and full mixed-use village and the final phases will include larger acreages (2.5-acres+)
For more information on The Foothills and to stay up to date, please register at http://www.thefoothillslifestyle.com/.
About The Foothills http://www.thefoothillscommunity.com
The Foothills is an 1838 acre, master-planned community located in Lantzville, B.C. The neighbourhood will consist of 730 homes, a mixed-use village area, and a 900-acre park. Designed to foster a broad range of social interactions and vibrancy, the beauty of the landscape will be preserved, and will provide a memorable island setting for all stages of life. The area will offer the best of Island living, including outdoor experiences, food, education, arts, culture and a healthy lifestyle.