Principle Property Group’s projects on Haliburton Street have transformed the area
NANAIMO – Since arriving in Nanaimo in 2016, Principle Property Group Inc., led by Michael Parker, has been a driving force in reshaping the downtown landscape, particularly the South End, now known as the Harbourview District.
Over the past few years, Principle has completed several condominium projects on Haliburton Street, including the Outlook, Prospect, and Lumina buildings. These developments are part of a larger vision to revitalize the area and foster a vibrant, walkable urban community.
“We’re committed to rebranding the entire image of downtown in the Harbourview area,” says Julie Madden, Director of Marketing and Sales for Principle. “Our goal is to create a modern, urban community with easy access to Vancouver by sea and air. It’s an exciting time for Nanaimo.”
Beyond Haliburton Street, Principle is expanding to the north side of town with their new project, The Station, located at Terminal Avenue and Townsite Road, followed by The Junction, another significant Harbourview District development.
One of Principle Property Group’s projects under construction
A Prime Investment Opportunity
The Harbourview District is emerging as a unique investment opportunity in Nanaimo’s real estate market. The area offers proximity to downtown amenities, scenic waterfront views, and easy access to Vancouver. As Nanaimo grows, properties in the Harbourview District have appreciated in value, making it an ideal area for long-term investment.
Principle’s community focus is further demonstrated by the transformation of the former Mototech Autohaus dealership into their Nanaimo presentation centre, which showcases their projects and engages with the community.
Their first major project in Nanaimo, the 36-unit Outlook, set the tone for future developments. This was followed by the 79-unit Prospect complex, which sold out rapidly. The 38-unit Lumina, scheduled for completion in November 2024, is nearly sold out as well, demonstrating the demand for high-quality urban living in the area. Upcoming projects include The Station, with 69 units, and The Junction, with 54 units, slated for completion in 2025 and 2026 respectively.
Underground parking is a staple feature in Principle Property Group projects
Madden, who joined Principle in 2023, is enthusiastic about the company’s mission to revitalize downtown Nanaimo. “We’re creating a community that our kids and families want to be a part of,” she says. “Many of our employees and friends call the Harbourview District home.”
Company President Michael Parker has an extensive background in construction and development, with projects across the Lower Mainland and Kelowna. He saw Nanaimo as a city with immense potential, thanks to its affordable land and waterfront properties. His vision is to transform Nanaimo’s urban core with higher-density residential and mixed-use developments, much like Kelowna in recent years.
Through strategic land acquisition and the implementation of a master-planned community, the Harbourview District concept was born.
“The city’s plans, including the expanding hospital and cancer centre, made it a smart decision to invest here,” Madden notes. “Mike’s vision is being warmly embraced by the community.”
Principle’s next project, Paramount, located near Lumina, will break ground next year, adding 48 new residences to the Harbourview District.
“By the time our current plans are built, we will have added over 320 new residences to the community,” Madden says. “The panoramic views of the working harbour, with ferries, float planes, and freighters, are truly special. It’s been rewarding to see how the community’s perception of this area has shifted.”
Madden invites everyone to visit the Harbourview District.
“There’s a lot of excitement about how we’re changing the face of the downtown south end. This area is becoming a vibrant urban spot with a bright future.”
For more information on Principle Property Group, visit principleproperty.ca, and to learn more about the Harbourview District, visit harbourviewdistrict.ca.
By Mark MacDonald
