Invest
Investment and Development Opportunities: Housing
Residential sales remained steady in 2010. Housing sales and average price rose 2%. The table below shows high price elasticity in the Sunshine Coast market.
Home sales remain strong due to purchases by owners of "foot loose" businesses, the semi-retired and the retired. They are attracted by the high quality of life on the Sunshine Coast and proximity to Vancouver.
The large size of the construction sector (13% of employment) is due mainly to residential construction. A significant boost comes from construction of seasonal homes by non-permanent residents. The upward trend in home prices is an indicator of opportunities in the housing sector. There is a robust building industry with a strong component of custom home builders, including timber frame and log home construction.
Residential planning in the Town of Gibsons is based on population growth of 2.5% annually to 2026. Gibsons' Official Community Plan identifies two residential development neighbourhoods. The Upper Gibsons Neighbourhood Plan, with 750 residential lots, is in development with homes completed and under construction. The Gospel Rock Neighbourhood Plan is under review. A Harbour Area Development Plan identifies opportunities for residential, condominium and commercial investment.
The Town of Gibsons won the United Nations LivCom award in 2009 for best planning by a municipality. Gibsons competed against 250 municipalities of all sizes. A significant reason for receiving the award is the geo-exchange energy utility the Town of Gibsons has established. A first in North America, the utility will provide heat to new homes in the Upper Gibsons Neighbourhood planning area at 15% less cost than natural gas heating. The Town will earn non-tax revenue and the community will reduce its greenhouse gas emissions. Residential and commercial developers may take advantage of the savings and opportunities created by the geo-exchange utility.
The District of Sechelt is expected to continue to grow with an average long term rate of around 2.5% per year. Sechelt's Official Community Plan designates numerous sites for future residential development. Full build out of all developable land would see the population of Sechelt increase from 9,000 to 30,000. Most notably, the area between downtown Sechelt and West Sechelt is slated for significant residential development (up to 2,000 units).
Two residential developments underway in Sechelt are the Watermark seaside condominiums and the Lions Club Seniors Housing complex.
 Watermark seaside condominiums |
 Lion's Club Senior Housing |
Population in surrounding areas of the Sunshine Coast Regional District is growing at a similar pace, and housing starts are equally brisk. Rural Areas have Official Community Plans, with areas designated for a range of residential development from low to high density.
West Howe Sound (Area F) has several planned residential developments adjacent to Howe Sound. There are many lots close to the Town of Gibsons and infilling and residential densification are planned.
Elphinstone (Area E) does not have lands designated for neighbourhood development. There are large areas zoned for residential development.
Roberts Creek (Area D) does not have lands designated for neighbourhood development. The Official Community Plan is under review and locations for residential densification may be identified.
Halfmoon Bay (Area B) has several combined marina and condominium developments underway or planned in the Secret Cove area. Significant upland tracts of land are under consideration for residential development.