Frequently Asked Questions

1. Why should I sign?

• Together we can put a strong proposal into the City for a Grand Community Plan to increase the zoning density beyond the provincial minimums.

• Signed contracts show a unified front to the City making that decision easier for them to consider.

• The bigger the land assembly the more valuable and desirable we become to developers.

• As part of a land assembly we will get significantly more than current assessed values of our properties.

2. What happens if I choose not to be part of the land assembly?

• You can likely expect a increase in property taxes as taxes are not based on current use but instead based on highest and best use. Our properties will likely be taxed in future years based on the higher density designated under the legislation instead of single family residential which we have been taxed on in the past.

• Noise and access disruptions due to development construction on the properties sold near you.

• If you wish to sell to a developer at a later date the land may be less valuable as it will be more difficult to develop with existing development already in place around you.

• At least one of your neighbours will likely be excluded and not able to be part of the land assembly due to rules in place regarding adjoining properties and preventing single orphaned houses.

3. What is the length of the contract with Angell Hasman?

• Exclusive Listing until Jul 31, 2024 to allow Angell Hasman time to prepare and submit preliminary applications to the City for consideration in regards to the change of land use amendments they are currently working on for the TOA.

• Multiple Listing from Aug 1, 2024-Aug 1, 2025 to allow Angell Hasman time to market and sell our properties to a developer.

4. What is the commission for Angell Hasman?

• 3% which is a standard commercial real estate commission.

• They assume all costs on marketing our properties to developers and will negotiate offers on our behalf.

5. What happens if I sign with Angell Hasman as part of the land assembly, but we don’t get an offer and then I need to put my house up for sale sooner due to unforeseen circumstances?

• If an offer has not been accepted, you may still sell your property at any time.

• As you have a listing agreement with Angell Hasman, you would use them to sell your home.

• Be mindful that you can expect assessed value for such a premature sale and not the inflated land assembly sale price you would receive with selling with everyone else.

6. How do I request a copy of the contracts to review and do my own due diligence?

• Email Angell Hasman at bcdevelopmentops@gmail.com

• They require name(s) on title, address, phone number, occupation, and scanned copy of your identification to prove identity.

• You may also contact them by telephone to arrange an in-person meeting.

Anna Gamova 778-834-2662

Vadim Zaharoff 778-317-8679

Joerg Everding 778-580-6744

7. How many properties are signed or interested?

• 42 properties have now already signed or expressed interest in joining the land assembly.

• Additional properties along Driftwood Dr have also expressed interest in joining the land assembly and are now included in the offer to join.

• The bigger the land assembly, the more valuable and desirable it becomes. However, a land assembly requires properties to be adjoining and there are still unsigned houses separating signed neighbours.

• Splitting into two separate assemblies with different paths to sale only hurts us all.

8. What happens if we do not get list price offers?

• We do not need to sell if we are not happy with the offer.

9. How long is the process expected to take?

• Angell Hasman is optimistic that our assembly will be very desirable we could have offers within 30-60 days of the Multiple Listing.

• Once an offer is accepted the developer requires time to complete due diligence and remove subjects. This process can be quicker for a big developer and longer for a small developer.

• Angell Hasman believes that we can reasonably expect 12-18 months from Multiple Listing to payout.

• Initial conversations suggests applications and public process appear to be simplified due to the new legislation.

• We can include a condition when accepting or countering offers that prevents the closing of the sale from being an open-ended timeline and instead that it must happen on or before a specified date.

This information was prepared by neighbours and not intended to solicit on behalf of Angell Hasman but instead to answer common questions property owners have had regarding the original proposal.