Comox Valley REALTORS® Discuss Future Parks & Transit!

The Comox Valley Region District (CVRD) is about to undergo several changes. Currently, the CVRD is working through the final stage of the regional parks and trails strategic plan process. This will shape how the CVRD manages and invests in parklands over the next 20 years. Beyond changes to the governance of parks and trails, the Comox Valley Regional Transit System (CVRTS) is also about to see changes in its fares and legacy payment system. If you are a homeowner or a curious investor, follow along below as your Comox Valley REALTORS® unpack the changes to come in the Valley. We will also explore how these shifts might impact property values, development opportunities, and overall livability in the region.

Comox Valley REALTORS® Urge Citizens to Engage With New Parks Plan

The Comox Valley Regional District’s (CVRD) new Regional Parks and Trails Strategic Plan is poised to influence not just the area’s environmental landscape but also its real estate market. With the plan set to shape park management and investment for the next 20 years, homeowners and investors should consider how these changes might impact property values and development opportunities. Proximity to green spaces is a well-known driver of real estate prices, often boosting the assessed value and desirability. New or expanded parks could increase the demand for homes near these areas, making them more attractive to buyers.

The plan also addresses how to balance conservation with recreational use, which could appeal to environmentally-conscious buyers. As the Comox Valley continues to grow, the preservation of greenways and natural areas will likely play a crucial role in maintaining the region’s livability. 

Homeowners have a unique opportunity to voice their opinions on the final phase of this strategic plan. The CVRD is inviting feedback from the community until October 15, 2024, through an online comment form. This is a key moment for property owners to weigh in on how the region’s parks and trails will be shaped, potentially influencing the future development of their neighbourhoods.

It is important to note that this plan does not focus on existing trails or parks that are currently managed by the province or community. Instead, it focuses on bridging the gap between provincial and community parklands.

The CVRD has already consulted with the K’ómoks First Nation, community members, and interest groups in the earlier phases of the plan. However, the current feedback phase allows individual homeowners to express their thoughts on conservation, recreation, and how parklands should be distributed across the region. To learn more or to provide input, homeowners can visit engagecomoxvalley.ca/RegionalParksPlan.

What You Should Know About Fare Changes to the CVRTS

Starting on October 1, 2024, the Comox Valley Regional Transit System (CVRTS) will transition to a new fare system. This will replace legacy passes with Umo-enabled alternatives. BC Transit’s shift could have a direct impact on the local real estate market.

For homeowners in the Comox Valley, this change represents a modernization of the local transit system. This change could enhance property values, particularly in neighbourhoods near major transit routes. Reliable and accessible public transportation is often a key factor for homebuyers, especially for those looking to reduce their reliance on personal vehicles. The Umo system offers greater flexibility by allowing users to choose between a mobile app or a reloadable card, making transit more convenient for a broader range of residents, from students to seniors.

For those considering selling their homes, this could be an important selling point. Improved transit access through the user-friendly Umo system could appeal to buyers looking for a more commuter-friendly lifestyle. Additionally, the integration of cashless payments may attract younger buyers who prefer digital solutions.

Homeowners should also be aware of how this transition will affect them personally. If you or members of your household use public transit, you will need to switch to the Umo app or card before October 1, 2024. Legacy passes will be phased out, though cash payments will still be accepted. HandyDART services, however, will continue to sell legacy tickets and passes without changes.

As public transportation continues to evolve, it’s important to stay informed about these changes, especially if you’re a homeowner interested in how they could influence both convenience and property value in the Comox Valley. To learn more, visit bctransit.com/comox-valley/fares.

Contact us Today!

Understanding how local and regional changes affect property values is important as a buyer or seller! If you are curious about moving forward with your real estate goals, we encourage you to contact Comox Valley REALTORS®! Moreover, if you have any questions about mortgages, be sure to reach out to us! We are excited to get your homebuying dreams on track. A home in the Comox Valley is a great lifetime investment. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.