“If you ask people in Vancouver if they want to live and work on an island in the city, many would say yes,” wrote Barry Broadfoot in a 1976 essay that pays homage to Vancouver while celebrating his life on the island in question, Bowen.
A short ferry ride from West Vancouver, Bowen Island features home prices that have long been competitive with those on the mainland for those willing to commute by ferry. Indeed, in 2012, the Cape on Bowen Community Development Ltd. touted spacious home sites at Cape Roger Curtis for a fraction of what similar lots in Vancouver and West Vancouver (some with existing homes needing demolition) cost.
Now, the Cape on Bowen is seeking buyers as principal Don Ho returns to building seniors housing. Ho, who sold CPAC (Care) Holdings Ltd. to Chartwell REIT in 2005, is a partner in Element Lifestyle Retirement Inc. Element is pursuing projects in Langley and Vancouver, the latter located kitty-corner to the King Edward transit station.
Ho, having seen the first two phases of the massive 618-acre Bowen Island project through to completion (a total of 24 lots), has given CBRE Ltd. a mandate to sell 350 acres comprising the project’s third phase of 35 lots.
The lots average 10 acres, with similar lots fetching approximately $2 million apiece two years ago.
CBRE vice-president David Ho, who has the listing, didn’t return a call for comment regarding interest, or expectations regarding pricing (a list price is not given).
The Cape isn’t the only offering on Bowen.
Read the full story in our sister publication Business in Vancouver.
