OVERVIEW
Campbell River has been experiencing a “building boom” for the past three years, a trend that shows no signs of slowing down. As affordability in British Columbia’s urban centres continues to decline, more professionals and entrepreneurs are choosing Campbell River as a place to live and cultivate true work-life balance. In Campbell River, 70% of the population spends less than 30% of their income on housing.*
The residential market in Campbell River shows steady growth and gradual increases in pricing, as does the condo and townhouse market. With a wide variety of land options available, as well as steadily growing demand in residential and industrial markets, there is room in this sector for new developers to begin building.
LOCAL BUSINESS ENVIRONMENT
Campbell River is one of the most affordable communities on Vancouver Island.
- average housing price: $440,000 (Source: Vancouver Island Real Estate Board)
- 70% of residents spend less than 30% of their income on housing (Source: Statistics Canada, 2016 Census)
“I’ve lived all over BC, I have worked all over Canada,
and I can say without bias that the quality of life here is some
of the best in the country. It’s truly unbelievable.”
- Kevin Brooks, City of Campbell River: Development Services
COMPETITIVE ENVIRONMENT
Currently, local competition is narrow; there is room for more developers to expand the types of development happening, such as in the hotel and resort sector.
MUNICIPAL SUPPORT
In 2018, 279 building permits were issued for a variety of projects. The City streamlines the permit process by providing information sheets and application forms, online or in person.
(Source: Connect Campbell River 2019 Community Profile)
Land & Real Estate
- 1,000+ acres of vacant airport lands suitable for light industrial development and with easy access to the Island Highway
- 500+ acres of vacant airport lands with airside access, suitable for a range of aerospace support services
- 500+ acres of vacant industrial land, plus nearly 500 acres of underutilized industrial land, including sites near the Island Highway and tidewater
- Eight vacant parcels of 50+ acres and five vacant parcels of 100+ acres
(Source: Campbell River Employment Land Strategy)
Growth/Expected Growth
- There are 349 Campbell River employers related to Land & Logistics, with a growth of 50 in the last three years. (Source: Statistics Canada Business Counts)
- The largest increases have been seen in building construction, electrical contractors, and real estate
and leasing services.
- Average residential vacancy rate: 0.6% (Oct 2017)
TRANSPORTATION
Our connected highway network ensures a steady supply of materials from larger centres and overseas, as needed.
Our airport and float plane access ensures that developers, stakeholders and investors can easily come to Campbell River to oversee projects.
ACCESS TO RESOURCES
- Small-mills, etc., are available for local developers to source local wood materials.
- Developers have access to local professionals to assist with all stages of building projects, including:
- real estate agents
- interior designers
- local furniture makers
Education/Training Opportunities
Local institutions offer training and apprenticeship programs that are necessary for successful development projects, such as:
- Carpentry
- Construction Design
- Business programs
- Office Administration
- Electrician programs
- Electrical Engineer
- Joinery/Cabinetmaking
- Landscape Horticulturist
- Plumbing and Piping
- Welding
