First phase close to sellout as only 8% of home sites remaining
Lantzville, B.C. Lone Tree Properties Ltd. announced that it has awarded the $8 million civil construction contract for The Foothills to Knappett Industries (2006) Ltd. Construction is expected to commence September 5 and will be finished during the summer of 2018.
The Foothills in Lantzville is now 92 per cent sold out with only four home sites remaining in phase one. Eighty per cent of the home sites sold during the first day of sales on April 29, 2017. Strong sales have led The Foothills to move forward with the release of an additional 36 lots in the fall of 2017. These will range from 0.25 acres lots to one+ acre stunning view lots.
According to the Vancouver Island Real Estate Board (VIREB) inventory of single-family homes declined 13 per cent in July 2017 with only 1,367 active listings compared to the 1, 575 in July 2016. The number of single-family homes for sale has steadily increased each month since Vancouver Island’s historic low of 859 in December 2016, however demand continues to exceed supply. The British Columbia Real Estate Association (BCREA) reports that the supply of homes for sale throughout the province has dropped to its lowest level in over a decade.
“Knappett Industries is one of Vancouver Island’s finest companies in the construction industry,” says Allard Ockeloen, Chief Executive Officer, Lone Tree Properties Ltd. “We are very lucky to have them joining our team. I can’t wait to see the finished product from the hard work they will put into this project.”
Phase one of construction consists of infrastructure and roads to service the first 97 lots. Construction of a 250,000 gallon concrete reservoir, construction of approximately 3.5 kilometers of roads, water line installation to connect new water wells and lots, utility underground services for 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.
Knappett Industries (2006) Ltd., a privately owned construction company, is based in Nanaimo and Fort St. John, B.C. Since 1988, Knappett Industries has grown into a leading supplier of construction services for residential subdivision development, underground utility installation and replacement as well as road building and land clearing needs on Vancouver Island and Northern B.C.
“We greatly appreciate Lone Tree Properties giving us this opportunity,” says Yosef Suna, project manager, Knappett Industries. “Lantzville is close to home for us and whenever we get the chance to give back to our community and be a part of the process of providing more homes for the area it is exciting.”
Vancouver Island based Herold Engineering Ltd. is a consulting civil and structural engineering company with its head office in Nanaimo B.C. The company is involved in a wide variety of building, municipal, transportation and marine projects throughout British Columbia and is responsible for design and sign off of all services at The Foothills.
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.
The master-planned community is currently zoned for 734 homes. Phases one and three will be entirely residential, while phase two will consist of a range of residential and full mixed-use village. Phase four and beyond will see the continuation of residential property releases plus the introduction of larger residential acreages (2.5 acres +).
Homes will be built by local high-quality builders and are expected to be family oriented and high-end with spectacular views. To date, a bridge has been completed over a water feature at the entrance to the site and an area for the reservoir and several roads have been roughed in.
The majority of home sites are priced around $300,000 but range anywhere from $250,000 to over $500,000. The 1838-acre site is accessible via Harwood Drive and is located on the north area of the site, closest to the existing neighbourhoods in Lantzville. It is the first new major project in the area.
The Foothills is perfect spot for those with aspirations to live a more active life and enjoy the nature that surrounds them from a beautiful island home. For more information on The Foothills visit http://www.thefoothillslifestyle.com/ to register.
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.