Planning & Development Report - View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development

TOWN OF VIEW ROYAL Planning & Development Report

TO: Committee of the Whole DATE: June 3, 2021 FROM: L. Chase, Director of Dev. Services MEETING: June 7, 2021

View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development

RECOMMENDATION:

THAT the report dated June 3, 2021 titled “View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development” from the Director of Development Services be received for information.

CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:

I concur with the recommendation.

PURPOSE OF REPORT:

To provide a draft of the report titled ‘View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development’ to Committee for review and information. The consultant will be in attendance at the Committee of the Whole meeting and has a presentation.

TIME CRITICAL:

No. The work will inform and support the review of the Official Community Plan.

BACKGROUND DISCUSSION:

The purpose of this research was to provide information that would help to respond to the following questions (from the RFP):

1. What barriers to development/redevelopment exist in the Town of View Royal?
2. What tools are available and practical for a community of this size?
3. Are the OCP and zoning densities, height and uses adequate to facilitate the development/redevelopment of strategic sites along major corridors?
4. Does the zoning include the right mix of uses in the areas the Town has identified?
5. What trends and projections are important for the Town to pay attention to?
6. What strategies and options exist for View Royal within a competitive regional context?

In short we wanted to understand what land uses, and what densities might be viable within the Town so that policy decisions could be made regarding which opportunities might be pursued.

PROJECT INFORMATION:

The attached report is structured as follows:

1. Section 2.0 summarizes our assessment of the market opportunities for new development in the Town and our demand projections by use for the next 20 years or so.
2. Section 3.0 summarizes our interviews with industry representatives including the South Island Prosperity Partnership, West Shore Chamber of Commerce and Urban Development Institute.
3. Section 4.0 contains our analysis of the financial viability of redevelopment in the Town, including the uses, building heights and densities likely needed to make different types of projects financially viable for private developers.
4. Section 5.0 evaluates some specific tools that the Town could consider to encourage the redevelopment of under-utilized properties.
5. Section 6.0 summarizes our recommendations.

The research provides deep insight into the population dynamics, land economics and regional forces that influence development in View Royal.

The final report will be provided to the successful proponent for the Official Community Plan Review and will underpin the policy options and recommendations of that project.

RECOMMENDATION:

THAT the report dated June 3, 2021 titled “View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development” from the Director of Development Services be received for information.

SUBMITTED BY: L. Chase, Director of Development Services

REVIEWED BY: K. Anema, Chief Administrative Officer

Attachment:

1. Draft Report-- View Royal Land Economics Study: Evaluation of the Prospects for New Urban Development, May 26, 2021