The Stz’uminus First Nation and a group of private partners have submitted a rezoning application to the Town of Ladysmith for a 55.5 hectare, $244 million project south of Holland Creek and east of Dogwood Drive.
Over the next 20 to 30 years the partners hope to build a 610 unit development in the quadrilateral area intersected by Heart Creek and including the Arbutus Hump – both of which will be protected – says the application, submitted by Glencar Consultants Inc on behalf of the partners.
The overall intent of the plan is to create pods of residential development while protecting riparian areas; steep slopes; and the top of Arbutus Hump. says the development application.
Glenn Carey said final details are being worked out between the province and the Stz’uminus for the sale of the land, which is presently zoned Forestry (F-1). The Stz’uminus will contribute the land to the project; the other partners financing and project management.
“It’s a means of economic development for the band,” Carey said. The project will be unique in many ways, he added, noting that the properties will be sold, not leased, as is common with First Nations developments on band lands, which cannot be sold.
The application itself is to amend Ladysmith’s Official Community Plan and the zoning bylaw to allow for a mixed-use development comprising 310 multi-family and 300 single-family units in the Holland Creek area.
The actual number of units that will be built will be market driven with the estimated time frame of the development being 20 - 30 years.
Over its lifetime the project could generate 1,422 constructions jobs and 258 ongoing, annual jobs, the application says. Development cost charges at existing rates are estimated at $5.8 million dollars. Yearly taxes to the town at build-out would be approximately $1.5 million using 2014 tax rates.
At ‘build-out’ the project could have a population of 2,500.