NANAIMO - The first two of many steps towards an expansion of the Cinnabar Valley and Chase River neighbourhoods were taken this week.City Councillors.
“We have a real aspiration to build that out and to see that completed,” Martin said Wednesday. “Council and myself are very supportive of moving that project forward.” After an initial 88 units were built more than decade ago, there has been no additional construction by subsequent owners, who each announced ambitious development plans. The land is zoned to hold 707 new homes and features views of the Olympic Mountains and downtown Victoria. Ross Marshall, senior vice- president of the investment properties group at CBRE Limited in Victoria, pointed to today’s hot real estate market, saying well-capitalized developers are showing interest, given that this a large tract of land, with ocean views, and where residential construction can be carried out in phases.