As we roll into 2021 and finally put 2020 in the rear view, we can all look forward to plenty of information released and progress made in Silverdale. Below we've summarized several important updates to be aware of that have recently unfolded or which will take place over the coming months. We've recently facilitated two more transactions in Silverdale and will be providing details at the end of January. We'd love to connect with you, whether you're a current owner in Silverdale, looking to purchase in the area or just wanting general information. Enjoy!
General Real Estate Update
Overall, the British Columbia real estate market remains red hot, the pandemic brought the market to a near standstill in early 2020 but proved incredibly resilient, ending the year at record prices, sales, and absorption rates (the time it takes for inventory to sell). We anticipate this trend to continue as both Provincial and Federal governments continue to stimulate the economy with low interest rates and additional stimulus to jumpstart a slumping economy recovering from COVID-19.
Central Neighbourhood Plan
Likely the most important event to keep in mind in early 2021 is the progression of the Central Neighbourhood Plan. A Neighbourhood Plan, in laymen terms is essentially a roadmap that will guide future development, the most important of which is what can eventually be built where. This neighbourhood planning process, which was initiated by Polygon Homes and is being conducted by Ekistics in conjunction with the District of Mission. Following the completion of the Master Infrastructure Strategy completed in late 2019, the Central Neighbourhood Planning process started in the summer of 2020, and has progressed rather quickly, expected to be completed by late 2021.
In December, the District of Mission released the findings of Phase 1 of Planning (first of four phases), which was essentially taking inventory of the lands through a geotechnical, environmental and biophysical lens. The findings were broken down as shown below:
Phase 1 Findings of the Central Neighbourhood Plan are released, these include:
Link 1: Site Analysis and Planning Inventory
Link 2: Potential Environmental Opportunities and Constraints Plan
Link 3: Geotechnical Hazards Assessment Report
Link 4: Archaeological Overview Assessment
Link 5: Existing Infrastructure
In the Media
Silverdale was prominently featured in two Western Investor Articles, one in December and another in early January 2021.
Upcoming
The District of Mission is slated to release the Draft Land Use Concept Plans in Mid February and will hold open houses (virtual) in early March. These drafts will consist the first look at what housing forms and lot size will be constructed in Silverdale.
Archer Green Progress
Polygon's first development in Silverdale is well underway with the townhouse portion of their project. It is currently building several townhouse blocks and working on upgrading the adjoining Nelson Street. Progress photos below!
