The Sequoia Residences at Marigold is a 50-home condominium now move in-ready at 2520 Hackett Crescent, off Lochside Drive. The six-storey development is the latest phase of new homes at the Marigold Lands, a multi-phased ocean view community on Victoria’s Saanich Peninsula. © Coldwell Banker
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By Mike Kozakowski of Citified.ca
COLWOOD
A newly-built move in-ready ocean view condominium offering launching its long-anticipated sales campaign marks the latest phase of Marigold Lands, a new-build residential community overlooking the eastern shores of the Saanich Peninsula on Lochside Drive near Mt. Newton X Road. Comprised of only 50 suites in large-sized one, two and three-bedroom configurations, homes at Marigold’s Sequoia Residences are targeted at the downsizer market, and homebuyers seeking spacious units close to shopping or natural amenities while away from the bustle of town centres like Sidney’s core and Victoria’s urban areas. And as part of Sequoia’s construction completion, the next ten purchasers qualify for 24 months of paid strata fees, the developer says. Read more here
LANGFORD
A move in-ready lake view condominium development overlooking Langford Lake has established a niche with first-time and younger homebuyers through unique partnerships with the City of Langford and the Canada Mortgage & Housing Corporation (CMHC). The Henson at Trailside at the Lake, the second of two Trailside at the Lake buildings from developers Keycorp and Seacliff, is situated at the western terminus of Goldstream Avenue at West Shore Parkway, with a variety of one-bedroom plus-den and two-bedroom floorplans still available, at prices starting from $399,599, parking included. Read more here
Formwell Homes has broken ground on Woodrow, the Victoria-based development company’s newest townhouse project. A groundbreaking event held in September marked Formwell’s entry onto the West Shore housing market, a celebration that included City of Langford Councillor Colby Harder, the project team, and future homeowners. Once complete, Woodrow will consist of 58 three-storey, three and four-bedroom townhomes on just over four acres on Klahanie Drive. The homes are designed for families and couples looking to establish roots in South Langford, the company said. Read more here
VICTORIA
A six-storey, 135-room Hyatt Centric Victoria Hotel development under construction since 2023 in Victoria’s Old Town is back before the City with an application for two additional floors and more rooms, including family-oriented rooms in the absence of newly-restricted AirBnBs. Chard Development is pursuing approvals to amend the 1314-1324 Broad Street project’s massing and density to push a 2021-approved hotel design up to eight floors, while raising the room count to 166 from 135. The driver behind the application is rising cost, which Chard Development says has catapulted to $595 per square foot for new construction, up 51% from the originally budgeted $394 per square foot. A heritage remediation effort included as part of the project, which incorporates the facade of the Duck’s Building dating to 1892 and an alleyway rubble wall of the Canada Hotel Building on Johnson Street, has well surpassed an estimated restoration budget of $1.6 million and is now $5.1 million, Chard says. Read more here
A 179-unit high-rise condominium underway in Victoria’s Burnside Gorge neighbourhood is looking at the option of transitioning to a purpose-built rental project, according to developer Mike Geric Construction. 12-storey Tresah West got underway in 2020 along the 600-block of Speed Avenue near Douglas Street, and despite COVID-19-related market conditions, pushed through to construction. MGC says escalating costs, however, have necessitated a potential pivot from ownership residences to rental apartments. Read more here
REGIONAL
The number of active motor vehicle insurance policies on Vancouver Island rose by 56,820 units, or 9%, between 2019 and 2023, outpacing population growth over the same period, according to the latest data from ICBC. As of December 31, 2023, ICBC says 687,507 active insurance policies were in effect in the Island district, broken down by 490,015 passenger vehicles, 179,036 commercial vehicles, 10,400 motorhomes, and 32,016 motorcycles or mopeds (the latter of as August 31, 2023). The 9% growth in policies was ahead of a 6.75% population growth rate between 2019 and 2023, according to provincial population estimates for Vancouver Island. On the south Island between 2019 and 2023, vehicle policy growth above population growth or within 0.2% occurred in Central Saanich, Colwood, Highlands, Metchosin, Saanich and Sooke. Greater Victoria’s population growth across the Capital’s 13 municipalities (not including unincorporated areas) reached 7.4%, compared to 6.92% growth in ICBC policies. CRD data, meanwhile, shows that alternative forms of transportation have plateaued in terms of mode share in the Capital as it seeks voter support via Alternative Approval Process for the establishment of a Regional Transportation Service for Greater Victoria. Read more here
Mike Kozakowski is with Citified Media and can be reached at mailto:mike@citifiedmedia.com
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