May 5, 2014
By: Sue McKitrick
The Comox Valley has historically been one of the fastest growing communities in the centre of Vancouver Island, British Columbia. The economy continues to diversify with national retailers in anticipation of significant growth projected for the Comox Valley over the next 20 years.
Why invest in the Comox Valley?:
1. Improved transportation links over the past decade: West Jet air service, Harbour Air connecting the Comox Harbour with the Vancouver harbour, the Inland Island Highway running from Victoria to Campbell River, and the ferry service to the mainland all make the Comox Valley accessible. Many new connector roads throughout the valley and plans for further arterial roads will improve accessibility within the Comox Valley.
2. A large retail presence: with retailers such as Target, Costco, Home Depot, WalMart 's grocery expansion and others, the Comox Valley has emerged as a regional market area .
3. The new Comox Valley hospital, scheduled for completion in 2017, will define the area as regional hub for health care, with huge economic spinoffs not just during construction but continuing into the future.
4. Seniors' and retiree destination The Comox Valley is a seniors and retiree destination. As the baby boomers retire, they seek the moderate climate, amenities, health care services, and active outdoor lifestyle the Comox Valley has to offer.
5. Dormant opportunities: The Comox Valley market has been flat for about 5 years but is showing signs of renewed activity. An investor who establishes a foothold in the market today will be ahead of the curve. Opportunities exist for seniors housing, multifamily projects (the apartment vacancy rate is only 2.2%), commercial development and redevelopment, infill and intensification of land use and more.