When looking at real estate selling & development, roadblocks can come up that you may not have thought of. There may be an easement, a strata or community restriction. However, specific types of property sometimes share common roadblocks. One type of property that is common in British Columbia is Farmland. With housing and property prices rising dramatically, one may envision building more houses on this land.
One of the biggest roadblocks to developing farmland are the restrictions associated with the Agricultural Land Commission(ALC). The mission of the ALC is to preserve agricultural land and encourage the local farming throughout the province. However, lower land prices are realized than in a residential or commercial use. Although these restrictions exist, some exceptions may be made from time to time.
One of the most recent exceptions is one made for Vitalus Nutrition in Abbotsford. According to an Article by Vikki Hopes of the Abbotsford News, Vitalus have successfully had 6.5 Acres excluded from land use restrictions for the purpose of developing a dairy processing facility. This expansion is due to expectation of increased dairy demand in Western Canada in the coming years. This is still an activity that is very much related to agriculture, as such it is not surprising to see this result.
If you are looking to exclude land for residential purposes, the chance of success would likely vary significantly. If you are looking to sell farmland in the lower mainland and would like more information on the restrictions of future development of your land, feel free to give me a call.
If you want more information about real estate selling & development and the best ways to prepare your property, don’t hesitate to message me, Matthias Alleckna on Facebook or Instagram. As your local real estate professional for White Rock, Surrey and the entire Lower Mainland I am happy to lend you my expertise. See other Blog Posts for more information.