Kitima until recently, that name conjured up a little-known town with a population of less than 9,000 in north-west British Columbia. But today, with the announcement of LNG Canada’s $40 billion project the area is booming.
Riverbrook Estates is a multi-phased residential property on a 27-acre development in Kitimat BC. Initial phase to include a 47-unit town-home development and the 2nd phase will include an additional 46 Town-homes. Total project yield could be upwards of 300 homes, with a mixture of freehold single family homes, town-homes, apartments, and 70 bare land strata homes. Project duration is estimated to take between 12 - 36 months.
At close to 300 units, Riverbrook Estates is set to be the largest residential development in Kitimat in 50 or 60 years.
LNG Canada, a joint venture between Royal Dutch Shell, Petronas, China National Petroleum Corporation, Mitsubishi Corporation and Korea Gas Corporation, announced the final investment decision for the first phase of the Canadian LNG project, which will be located in northern BC, British Columbia. Kitimat was built intensively. The Canadian LNG project is scheduled to be completed and put into production in 2024, when the country's natural gas will be sold to China, Japan and other Asian natural gas consumption countries.
Canada is the fourth largest natural gas producer (after the United States, Russia and Iran). The project includes the construction of natural gas liquefaction facilities, pipelines, maritime terminals, etc. The Canadian LNG project signed a contract with TransCanada, the country's largest pipeline operator, to build a 670-kilometer-long oil pipeline from Dawson Creek in northeastern BC. Go all the way to Kitimat by the sea.
Next to the Kitimat LNG project, developer JV development and builder Kerkhoff Construction will team up to build the Riverbrook Estate project with a total area of 27 acres. The first phase includes 47 townhouse developments and 9 separate housing sites. The second phase includes 46 townhouses. Freehold freehold wood frame structure. The total development project may exceed 300 units, including detached houses, townhouses, and apartments.
The community design is reasonable and user-friendly, considering for small families. There are plenty of parking spaces, parks, amusement parks, and greenery. A very high return on investment is an ideal project for investors. The total deposit of the prefecture is 15%, and the uncompleted resale can be resold by 2%.
To learn more about the Kitimat Riverbrook Estates development, please contact Lake Real Estate.
