Recently I had the opportunity to attend the Planners Breakfast, hosted by the Vernon Chamber of Commerce and met our new Long Range Planner, Kim Flick. She has graciously shared her data with me, and is the source for this post material.
To understand where we are going - we must look at our past and our present.
Let's talk building permit values.
The last three years have set records for the city, topping $140 million with a peak of nearly $166 million in 2006; the previous high had been set in 2005 at $77.7 million.
While housing starts remain robust, the forecast for the Thompson-Okanagan region is for a slight decline in housing starts over this year and the next. Only Vernon is expected to actually continue to grow in housing starts over 2008, and begin to taper off in 2009
AREAS INDENTIFIED FOR SIGNIFICANT GROWTH POTENTIAL ARE:
- The Rise (1200 units)
- Turtle Mountain (1710 units)
- Predator Ridge (1820 units)
- Foothills (500 units)
- Middleton Mountain (350 units)
Last year, Westbild took over Predator Ridge, and rumour has it that development there will be greatly accelerated. My son works on a building crew forming concrete there - and says the goal is 10 homes a month! THAT is rapid growth and would seem to substantiate what they are hearing at City Hall... after all - no basement... no...walls no roof no house.
There are also two major projects already in stream~ the addition to Vernon Jubilee Hospital ($82 million) and the Kristall Resort Hotel - to be constructed north of and adjacent to Predator Ridge ($55 milllion)