You may have noticed the old Northfield Mines site being re-developed in recent years - especially the mountains they've moved behind the Christ Community Church (see below). Well, there is an effort underway to develop a mixed-use complex in the location shown below. 

Satellite image showing proposed Mid-Town Gateway Project development west of Bowen Rd and north of Northfield Rd in Nanaimo, with some landmarks identified

The complex is planned to include a grocery store in the center, with retail buildings along the perimeter. and with residential units perched above the retail builds. 

I'm sure there are still many hurdles for this development to overcome, not least the purchase of the private properties along Northfield where there are already some homes established. But I wanted to show this plan, as something of interest to people who live and work in the area!

 


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Something that comes up a LOT in my conversations with clients, is the "ASSESSED VALUE" of properties. Buyers are often concerned when the ASKING PRICE for a property is above its ASSESSED VALUE.

The concern is reasonable. If "the government" says a rancher is worth $400,000 then it seems reckless to pay $500,000 for that property. (But it's normal.)

Below, I'll talk about market value vs. assessed value - and I have pulled together some very relevant, local data to show some relationship trends between these numbers.

What is Assessed Value?

Each property in British Columbia is given an assessed value (updated every year) by the BC Assessment Authority. This system was created for property tax purposes - the local governments need a "fair"…

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