Plans to revitalize the Cowichan Valley community of Paldi with a new residential/commercial development project are moving forward now that Elk Ridge Estates Ltd., which is proposing the project, has been issued a conditional water licence by the province.
The licence permits Elk Ridge Estates to utilize up to 492,750 cubic meters of water annually, with a maximum daily capacity of 2,700 cubic meters.
The licence allows Elk Ridge Estates to begin the infrastructure development for its 400-acre Paldi master-planned community, and the development company said the first phase will focus on a 196-acre mixed-use commercial-residential project, including the construction of essential water and sewer utilities.
Elk Ridge said it will continue to coordinate and collaborate with the Cowichan Valley Regional District to ensure the project meets community needs and regulatory requirements.
The licence takes a staged approach, with water allocation increasing as each phase of development progresses.
The company said in a statement that this phased approach will support the development of at least 500 housing units within the Paldi-zoned area over time, ensuring that water resources are carefully managed as the community grows.
The water licence approval comes at a time when the CVRD has been facing challenges related to water availability in the southern part of the region, making reliable water sources essential for future development.
The CVRD has recently emphasized the need for secure water allocations to support larger-scale housing projects.
"This licence represents a crucial step in addressing the region's housing needs," said David Salmon, CEO of Elk Ridge. "We are committed to sustainable development and are excited to be taking action to provide much-needed housing in the Cowichan Valley, while also ensuring that the project adheres to environmentally responsible practices. Our ongoing work with the CVRD on phase one of this development reflects our commitment to delivering high-quality, sustainable infrastructure that serves both the community and the environment."
Paldi was the bustling centre of an active logging industry operation many years ago.
As the only private real estate developer currently active in the Paldi area with an approved development permit, Elk Ridge said it is dedicated to delivering a balanced mix of affordable, environmentally friendly homes that will enhance community well-being.
"We are grateful for the years of collaboration between Elk Ridge Estates, the CVRD, and other local stakeholders to make this project possible," said Salmon.
"This infrastructure development is an important step toward meeting the growing housing demands in our region, and we are proud to be leading the way in creating sustainable communities."
Pre-sales for lots in the development began earlier this year.
The overall plan for the Elk Ridge community, which is envisioned to be a highly unique master planned, semi-rural resort community, that was presented last spring is to have approximately 355 residences constructed on almost 200 acres over a 10-year period, which would see more than 100 dwellings constructed as part of the first phase.
A number of Cowichan-based builders have been chosen to construct the housing units offering a variety of Cowichan west-coast inspired architectural styles to choose from.
Buyers can also opt to build a custom or semi-custom home on a cost-plus basis.
In addition to custom builds, Elk Ridge said when planning the project that in later phases of the development, the company will also offer a range of multi-family lots and builds, as well as planned condominium projects.
The company said future phases will also include a walkable urban village complete with boutique shops and restaurants, a sportsplex, village square park, a resort and Arctic spa, a private medical centre and a private school.
