A large lot directly east of Fernie has hit the market for $28 million.
Lot A Coal Creek Road is an 800-acre piece of land along the ridge to the east of town, stretching from Coal Creek Rd to the south to well beyond the Fernie Golf Course.
Known locally for the kilometres of popular mountain biking trails criss-crossing the property, the property is currently owned by Ridgemont Holdings, which is itself owned and operated by Pollyco Group of Companies, a privately-owned residential and commercial real estate developer with offices throughout Western Canada.
The property was listed for sale online on June 4, 2022 by a Kelowna-based realtor, with the listing talking up the development potential of the land, which is currently a mix of forest (on the slope facing Fernie), and recently-logged area (in the areas facing away from Fernie).
“(Lot A is) over 800 acres to be developed in scenic Fernie, B.C.,” reads the listing, highlighting its proximity to the city.
“Potential for commercial on the lower acres and homes or multi-family homes on the upper bench of Ridgemont Meadows.”
Roughly 40 percent of the lot is within City of Fernie limits, with the vast majority of it zoned as “Rural Residential” according to city zoning resources online.
“Rural Residential” is defined by city bylaws as allowing single detached dwellings on large parcels of land on the periphery of the built-up parts of the city, “sited in a manner that future re-subdivision, infill and increased density will be feasible in the future.”
The minimum lot size for Rural Residential zoning is 1 acre.
The remainder of the lot falls within the Regional District of East Kootenay. Besides trails, the lot is vacant.
The trails that are within the property (the Ridgemont trail area) are currently managed by the Coal Creek Heritage Society (CCHS), which signed a land-use agreement with Pollyco in late 2021.
READ MORE: CCHS signs ‘historic’ land-use agreement with Pollyco
scott.tibballs@thefreepress.ca
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