Monday, November 24, 2014
Development Trilogy

The Trilogy development, also known as Cayet, concerns over 750 acres of land either side of Highway 19, around the Cumberland Interchange.

Read our Backgrounder on Trilogy for more information

John Evans, CEO of Trilogy, was at the Committee of the Whole meeting to give an update on the Cayet project. There were over 40 members of the public in attendance.

Update by Mr. Evans:

Mr. Evans mentioned he had just toured the new Discovery Centre, which he called the "centrepiece" of Cayet.  The grand opening for the Discovery Centre is slated for some time in April.

Trilogy was approached by the lantern festival organizers and asked to sponsor the event.  Trilogy Developments agreed and is now the main sponsor of the Taiwanese Lantern Festival, to be held Feb. 17 - 19.

Premier Clark and Pat Bell have officially recognized Cayet by giving their support for the project in writing, and Mr. Evans spoke of Cayet as a partnership between the Village and Trilogy - what he called "a generational project."

Development - Trilogy

In 2008 Trilogy acquired freehold interest in 764 acres within the Village boundaries from Hancock Timber Reserves Ltd. , a forest management arm of the Boston based firm Hancock Insurance.  Freehold interest means that Hancock still owns the land, but Trilogy has purchased the rights to "sell" lots to outside interests for development.  Trilogy plans to develop this land over the next 10 to 15 years.

Touted as an "instant town" by Trilogy representatives and the media, the lots will be developed into mixed commercial/residential.  The largest lot, approx. 500 acres and situated at the Island Highway's interchange, will be a principal shopping node with big

Map of Trilogy lands

box stores and smaller franchises, and noted by Trilogy to be "the most significant commercial retail development in the Central East Coast of Vancouver Island."  The interchange development will include a motor lodge and hotel containing approx. 170 rooms.  Zoning also allows for a casino. The development in its entirety will comprise approx. 850,000 sq. ft. of primarily commercial space, and approx. 1400 multi-family residential units and 400 single family homes.  So far several Alberta companies are registered with Trilogy to look at sites for building. John Evans, CEO of Trilogy, is quoted as stating: "We're basically building a fully integrated new community with commercial zoning, institutional, residential and mixed use."

Trilogy is required to pay the village $4.5 million as lots are developed.  However the covenant agreement includes an acknowledgement by Trilogy that Cumberland has incurred significant costs associated with the proposal - legal and staff.  Furthermore, Trilogy admits that the development will also increase demand on the village infrastructure.  The kicker is that it's anticipated that these extra costs will not be fully compensated by the tax revenue from the Trilogy developments.

Development - Trilogy