A 100-unit modular home park located just west of the Trans-Canada Highway and south of Henry Road is hoping to change its status from a Modular Park to a Bare Land Strata.
Originally Morgan Maples sold modular homes to buyers who would then pay a pad rental for the lot. And while that process can be affordable for many buyers, it came with challenges for other potential buyers.
“It was a problem for people who wanted to go to the bank for financing,” says Sean Carroll of Morgan Maples. “The banks don’t offer mortgages when the buyer doesn’t own the land.”
The solution, Carroll suggests, is to change the development plan to allow purchasers to buy a lot and put a modular home on a foundation.
Morgan Maples will be asking the Municipality of North Cowichan for permission to alter the original plan to allow the developer to sell lots and create a strata. The company is not asking for any changes to the already-approved Development Plan.
“There will be no change to density, the servicing requirements will be the same and there won’t be any change to landscaping or anything like that,” Carroll says.
Carroll says there is currently a shortage of spaces for people who have trailers or modular homes to locate them.
“There are people who would like to buy a unit but there’s nowhere to put it.”
Carroll says the first stage of the development has been completed with 20 units sold.
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