It’s hard to beat the breathtaking views and the historical atmosphere of beautiful Victoria, B.C. plus, compared to the Greater Vancouver Area, housing prices are far more affordable. Though sales have dropped recently due to recent changes in interest rates, and the greater difficulty in qualifying for a mortgage, there’s still a high demand for new housing in the province’s capital city.
Let’s take a look at six developers in Victoria, B.C., who are creating new developments that range from luxurious waterfront new condos to centric studios that cater to young millennial professionals.
Townline was started over 36 years ago by Rick Ilich, who at the very beginning ran a one-man operation. Starting out, Townline only built single-family projects, but little by little, as small projects got bigger, Townline grew into a diverse team with a construction portfolio all over Metro Vancouver and Vancouver Island.
In 2006, Townline purchased the heritage Hudson Bay Building, in order to create a new downtown Victoria neighbourhood, called the Hudson District. The crown jewel of this new development is the 176 unit, 1 to 3 bedroom complex called Hudson Place One. This development looks to combine the timeless appeal of brick and wood with contemporary materials such as glass and metal.
Tenfold Projects was founded by Max Tomaszwski and David Price, and together they bring over 70 years of experience and over 150 different construction projects.
Their most current project, Westbay Quay, is a new neighbourhood which features a collection of 85 waterfront condos in Victoria B.C., commercials spaces, and 15,000 square feet of planted pathways and landscaped green spaces.
Urban Core Ventures
Urban Core Ventures is headed by Leonard Cole, who was born in raised in Victoria. Mr. Cole used to be part of the Victoria Mayor’s Task Force on Affordable Housing in 2015. Urban Core’s developments have been recognized as among the best developers in Victoria B.C. and have received several awards for their single-family homes and affordable living complexes.
One of Urban Core’s latest projects is Cook Street. Cook street offers 47 units which vary from work/living spaces on Cook Street, townhouses on Oliphant Street, 1 to 3 bedroom units and 17 investment units. The entire project aims to meet the current and future needs of its residents by providing 74 bike stalls, charging stations, and a bike repair room.
Concert and Jawl Properties
Concert is an award-winning real estate developer founded in 1989, with over nearly 12,000 homes developed across B.C. and Ontario. Concert is well known countrywide for its high construction standards, its exceptional customer service, and their prolific construction projects.
Concert is currently working alongside Jawl Properties to develop Capital Park Residences, located near the Inner Harbour. Capital Park offers 1 to 3 bedroom plus den new condos from 473 to 1,927 sq. ft. units, as well as 2 to 3 bedroom plus den townhomes from 1,443 to 1,757 sq. ft. According to its website, units will start to be available in September 2018.
For over 35 years, Focus Equities has been a major player in Canadian real estate development with over 10,000 residential units in its portfolio. One of Focus Equities’ latest developments is Bayview Place.
Bayview Place offers waterfront views of the breathtaking Victoria harbour and it’s located a short five-minute walk away from downtown Victoria. The project offers four districts all of which offer a combination of commercial and living spaces, ranging from studios, 1 to 3 bedrooms with den and penthouse suites.
Abstract Development is a relatively small real estate developer, created in 1999, that focuses exclusively in Victoria. Though there are only about 50 full-time employees working for Abstract, they have a respectable portfolio of boutique developments such as 2707 Richmond Road, London Arbour, Village Walk, and many others.
Fifteen 88 is their newest project, which offers 62, 1 to 2 bedroom condos starting below $300,00. Fifteen88 is located in the middle of the Cedar Hill neighbourhood at 1588 North Dairy Road, and it’s expected to deliver its first units during Fall of 2018. Besides its comparatively affordable prices, Fifteen88 has conveniently located a short walk away from the Hillside Shopping Centre. Its central location ensures that you’re only a short drive away to any point of Victoria.