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Elk Ridge Estates is a rare large-scale master-planned community in the Cowichan Valley near Duncan, Vancouver Island. This court-ordered sale includes ~196 acres with long-term expansion potential, planned for up to ~355 homes (suites, single- and multi-family), ~100,000 sq. ft. of commercial space, 1 institutional lot, and a ~50-unit hotel/resort.A key asset is the provincially approved licensed water resource, structured for phased implementation.Natural features include four creeks, interconnected trails, three parks, a proposed sports plex, and strong wildlife presence.Infrastructure includes underground power, plus temporary power and water supporting two permitted showrooms.Phase 1 is approved for 103 lots (including five mixed-use) and is cleared.Appraised “as-is” at $28,900,000 10 minutes from downtown Duncan and the new hospital, with full due diligence and a clear phased path to execution. (id:64973)
At $61,224 per acre, this large-scale Elk Ridge Estates development in Duncan represents a significant discount compared to the broader Cowichan Valley market. The sizable land package, provincially approved water rights, and potential for over 350 homes and 100,000 sq. ft. of commercial space make this an attractive proposition for experienced developers seeking a mixed-use master-planned community in a growing Vancouver Island region.
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