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Spring 2013 Condo Construction Update

February 23, 2013 Spring is in the air, and Victoria BC is a flurry of construction activity, with backhoes, Bobcats and dump trucks a familiar sight. Victoria’s condominium developers are way ahead of the curve on several things. First off, they get that life is getting busier. For all of us. And for a fast-growing number, the idea of a home that doesn’t require upkeep is gaining traction. Shut the door and go? No lawn to mow? Sign me up. Second, condo developers recognize that Victoria is one of the most breathtakingly beautiful places on Earth, and that our downtown and surrounding areas deserve to be developed into the vibrant, sexy, livable urban hubs they should be. With gas prices on the rise and so many of us wanting to lighten our footprint, walkability is a key consideration for developers in where they choose to locate new condos. And finally, our developers understand that the race is on to bring their projects to market. Our city is well known for soft condo pre-sales. Unlike Vancouver where condo developments can typically expect higher pre-construction sales, the trend with Victoria buyers is to buy once you can touch and feel the product. There’s something for every pocketbook, too. From studios at The Mondrian starting at $169,900 to the cool $3.9M of a penthouse at The Sovereign, you’ll find a wide selection of fabulous new homes in Victoria’s condo real estate market. Flush on floor-to-ceiling windows? Want to be in the heart of everything? Craving an open kitchen so your friends can cozy up to the eating bar while you sear the scallops? We’ve got you covered. Working our way from south to north, let’s take a look at the broad array of condos for sale in Victoria. On the corner of Douglas and Simcoe, facing Beacon Hill Park, 200 Douglas offers six storeys of one- and two-bedroom condos, some with dens. Breathtaking views, reinforced concrete, award-winning architecture and a high walkability score are some key features. The foundations are currently being constructed with completion set for early 2014. Over 40% sold. Located at 640 Michigan Street between Douglas and Government, Duet by Chard Developments consists of 90 residential units just a half block from Beacon Hill Park and three blocks to the Inner Harbour. Having just broken ground in February 2013, Duet is already 30% sold, with completion scheduled for fall 2014.
sovereign-condo-victoria The Sovereign on Broughton Street.

Chic and luxe, The Sovereign rises eleven storeys off Broughton, two blocks from the Empress Hotel, and offers the finest in amenities (how about that radiant heating, or the rooftop kitchen?). Thirty-six residential suites are complemented by commercial retail units on the ground floor. Final concrete work is nearly finished, and interior suite work is in full swing. The Sovereign is 60% sold; completion is slated for early fall 2013.
Promontory at Saghalie Road. Promontory on Saghalie Road.

At 21 storeys, Promontory by Bosa Properties will be Victoria’s highest building, offering a mix of 176 studio, one- and two-bedroom suites, in addition to townhomes and penthouse. Just across the Johnson Street Bridge at Songhees, Promontory’s crane can be seen from all around the city. Concrete has been poured for the first three floors, sales are at 60 per cent, and completion is on track for April 2014. In the heart of downtown Victoria on Yates between Blanshard and Douglas, Era by Concert Properties offers 157 affordable suites, with a nod to heritage in the revitalization of Millie’s Lane. Five commercial suites will be at street level, some fronting on Yates, others on Millie’s Lane. Construction began in July 2012 and will finish in November 2014. Initial sales are complete at 30%; the next phase of sales will resume in early 2014.
The Union on Fisgard Street. The Union on Fisgard Street.

Union by Anthem Properties blends residential and commercial in two five-storey buildings located on Pandora and Fisgard, connected by a courtyard and edged by an historic laneway. With construction well underway and already 50% sold on the Pandora side, Union is preparing to move people in as of the end of November 2013. Travel east, to the edge of Oak Bay, where Abstract will break ground this spring on Village Walk, a four-storey mixed-use building at the junction of Foul Bay Road and Oak Bay Avenue. With 22 residential units (including four penthouses), 38,000 square feet of commercial space and sustainable design features like a storm-water capture rain garden, Village Walk is an exciting development. Completion is slated for fall of 2014. Situated at the edge of Chinatown at Fisgard and Douglas, The Hudson breathes life into a Victoria icon once again. Home to Hudson Yoga and Smoken Bones Cookshack, The Hudson also welcomes the Victoria Public Market, an 18,000-square-foot market proffering local foods and vendors. Opened in September 2010 and 80 per cent sold to date. Select two-bedroom lofts and penthouses are still available for purchase.
The Mondrian on Johnson Street. The Mondrian on Johnson Street.

Bright colours and bold strokes are rising at the corner of Cook and Johnson. Offering 93 residential units and four commercial spaces, the Mondrian by Alpha Developments boasts ten storeys of modern angularity, floor-to-ceiling windows and affordable downtown living. Construction is running ahead of schedule and completion is planned for spring 2013. boardwalk-selkirk-condos The award-winning mixed-use Selkirk Waterfront by Jawl Developments offers one of Victoria’s only current on-the-water condo projects. Boardwalk consists of eight distinctive condos, each with water views from almost every room. Commercial space awaits a bistro, grocery store or West-Coast themed retailer. Site excavation is complete, the footings are in and pre-sales are set to launch in late April 2013. Completion is expected for fall of 2015.
City Park on Whittier Avenue. City Park on Whittier Avenue.

Need more space to spread out? City Park by Abstract Developments offers 14 townhomes near Rudd Park, just steps from the Galloping Goose Trail and a few minutes to the Gorge Waterway. Big on walkability (and fiscal sense, as many of the townhomes incude legal suites), City Park is 25% sold, and ready for move-in this April. Located just north of the new Uptown shopping centre off Carey Road, Uptown Place’s two four-storey buildings – the Huxley and the Rowland – are ideally placed on major bike, road and pedestrian thoroughfares. In Uptown, Tri-Eagle Developments offers a total of 76 condos, including three-bedrooms and garden suites. The presentation centre opens in early March, with sales beginning in May and completion slated for September 2015. At the centre of Colwood’s redevelopment is Westridge Landing, a family-owned development that’s customized for today’s busy families and couples. With three buildings already fully occupied and three more in the pipe, Westridge mixes 63 residential units – some with lock-off rental suites – with generous space allocated for commercial use. The residential component will be completed in summer 2014, and Colwood’s first hotel will be complete by spring 2015. Sales for this third phase will begin in late March 2013. The site of Colwood Corners will be redefined by a Capital City Centre, a 20-year live/work development project lead by international corporate vanguards – LEAGUE. Capital City Centre will become the largest urban project of its kind on Vancouver Island with 12 residential towers, multi-storey office buildings and feature retail spaces. Construction for Skye, the first residential tower is underway. Also by Jawl Developments is Sayward Hill, a luxury residential development overlooking Cordova Bay Golf Course that’s slated to begin construction in two or three years. This final phase of Sayward Hill builds on a legacy of fine residences with its 46 two-bedroom-plus-media condos. Exciting times in our fair city. There’s a sense of forward momentum, a feeling of anticipation about the future, and a clear understanding that we’re working together to develop one of the world’s most desirable, livable and vibrant urban centres.