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Marigold Lands, condo 1
Use: condo
Address: 7874 Lochside Drive
Municipality: Central Saanich
Region: Saanich Peninsula
Storeys: 5
Condo units: 38 (1BR, 2BR, penthouse)
Sales status: sold out / resales only
The Marigold Lands development's first condominium residence is a five-storey building situated along the 7800... (view full profile)
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[Central Saanich] Marigold Lands | Multi-phased residential community | Approved

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21 replies to this topic

#21 nagel

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Posted 17 January 2017 - 10:24 AM

I don't have an issue with 5% affordable housing which I believe this site is doing, and this is actually becoming a standard %.  My understanding is it would be unusual to increase it beyond this amount.  At some point you have to cut the subsidy/guiding hand off because if you increase it to 20% the cost of the other 80% is just going to go up even more, so did we actually help or hinder affordability?

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#22 Mike K.

Mike K.
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Posted 19 June 2020 - 07:45 AM

The developer is selling over 2.3-acres of this project's undeveloped land.


The initial phases, a condo and some townhomes, are taking quite a while to sell (condos are 80% sold) with sales having started in 2017, I believe. We sometimes see difficulty arise when a builder/industry firm jumps into the development side of the equation. It's a lot different to build something for someone than to be responsible for selling sell out a residential project.

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