104 replies to this topic

[Citified.ca]

Prices are starting at $319k for one-bedroom suites. Two-bedroom suites start at $419k while two-bedroom flex suites are priced from $469k. Pre-sales will be starting next month.
 

An artist's rendering of the first phase of the Belmont Residences development, Belmont Residences West. The 80-unit condominium is slated for Langford's newly-built Division Avenue between the Galloping Goose Regional Trail and the upcoming Belmont Market Shopping Centre.
 
Affordable West Shore condo dev extends U-Bike bicycle share program to Langford
https://victoria.cit...am-to-langford/
 
The first phase of condominium homes planned for Langford’s Belmont Residences master-planned community is nearing its official sales launch, Citified has learned.

The five-storey, 80-unit Belmont Residences West will soon rise along the Galloping Goose Regional Trail adjacent to the Thrifty Foods-anchored, 160,000 square foot Belmont Market Shopping Centre currently under construction on lands formerly occupied by Belmont Secondary School.

“It’s where trail, meets home, meets market,” says Belmont Residences’ director of development, Marcela Corzo. “The location of our premiere residential master-planned community represents a significant turning point for Langford’s expanding urban core. Future residents will not only enjoy the luxury of a diverse and walkable commercial centre at their doorstep, they’ll be able to take advantage of a bicycle trail connecting to downtown Victoria, the Glen Lake nature area, and seamless access to the region’s highway network.”

As a commitment to Belmont Residences’ bicycle-friendly location and walkable urban community, Corzo is celebrating the project’s alternative transportation options by expanding downtown Victoria’s U-Bike bicycle share program to the West Shore.

“This May we introduced six bright green-coloured U-bicycles at our sales centre, located at 915 Division Avenue, and the uptake by the local community has been immediate,” she says. “By the end of this month we plan to offer 24 bicycles that will be available for the public to use throughout the West Shore or to take advantage of the Galloping Goose trail and ride into downtown Victoria.” [Full article]

[Mike K.]

From the sales centre show suite.

 

Photos via Vince Klassen Photography and Belmont Residences.

 

 

 

 

 

 

 

 

 

[lanforod]

Looks like a decent mid-range build. With all the drop ceilings I'm seeing, I am surprised the heating is electric baseboard though.

[Citified.ca]

The speculation tax does not appear to have drastically affected the sales progress at Langford's Belmont Residences West condominium, despite other West Shore builders announcing they would cease sales and construction of planned buildings due to the provincial speculation tax.

 

An artist's rendering of Belmont Residences West, a five-storey, 80-unit condominium complex coming soon to the newly-built Meridian Avenue adjacent to Langford's upcoming Belmont Market Shopping Centre. Belmont Residences' affordably-priced suites propelled the project to a 40% sold-out status within weeks of its sales launch.

 

40% sold-out: Langford's Belmont Residences affordable condo dev surges past sales targets

https://victoria.cit...-sales-targets/

 

First-time homebuyers and empty nesters have propelled an affordable West Shore condominium development to more than 30-units sold in a matter of weeks and earning it the title of this year's best-selling development on the West Shore, Citified has learned. 

 

The five-storey, 80-suite Belmont Residences – earmarked for a site adjacent to the Thrifty Foods-anchored Belmont Market Shopping Centre now under construction along Jacklin Road – is resonating with value-driven purchasers in search of a walkable, amenity-rich urban node near the rapidly growing Langford town centre.

 

 “Given the market turn-out, the residential phase of our master-planned community will start construction in early September, right after the Labour Day long weekend,” says Scott Morrisey, director of construction for Belmont Residences. 

 

The collection of one, two, and two-bedroom plus ‘flex’ homes, are priced to appeal to first-time buyers and downsizers in search of urban living close to nature, while the location's alternative transportation options and easy access to downtown Victoria are a great fit for busy professionals. [Full article]

[Bob Fugger]

Looks like a decent mid-range build. With all the drop ceilings I'm seeing, I am surprised the heating is electric baseboard though.

UGH, good catch.  That's a turn off, man.

[Mike K.]

Construction is well underway now.

[Fairbanks]

https://www.youtube.com/watch?v=-qQ4kWNis5E

[Fairbanks]

https://www.youtube.com/watch?v=QmQaxx4v8vA&fbclid=IwAR0KxsOVRP4SOegda3HRM2bukAOMnQc90daTWGKQWpy9UloRLl2Ag8-J5vg

[Citified.ca]

Belmont Residences West (left), comprised of 80-suites of condominium residences along Reunion Avenue in Langford, is slated for completion next spring. Crossing at Belmont, at-right, is one of two rental apartments nearing completion as part of the Belmont Master Plan Community that includes Belmont Market Shopping Centre. Crossing at Belmont is launching a first-of-its-kind rent-to-own program to help its future residents transition to homeownership at Belmont Residences.
 
Rent-to-own program launching at Belmont Market's rental homes a first-of-its-kind on Vancouver Island
https://victoria.cit...ncouver-island/
 
Renters in the Capital Region will soon have the option of contributing a portion of their monthly rent towards a condominium purchase through a first-of-its-kind program launching this month on the Westshore, Citified has learned.
 
Crossing at Belmont, the 156-suite rental component of Langford’s mixed-use Belmont Master Plan community nearing completion along Jacklin Road, is readying to welcome tenants this fall with a rent-to-own initiative catered to individuals working towards homeownership.
 
Qualified tenants will have the option of contributing 25% of their monthly rent towards a purchase at Belmont Residences, a multi-phased condominium project underway adjacent to Belmont Market and Crossing at Belmont. [Full article]

[sdwright.vic]

The article is false as this program is not a first of its kind in Victoria.

Bosa/ BlueSky Properties will be offering BosaEquity at 1008 Pandora Street.

https://bosa4rent.com/en/landlord/

[Victoria Watcher]

I read less than 2 weeks ago boss was NOT offering it at 1008 pandora.  maybe it was just added. 

 

in any event what bosa projects in victoria can you accrue equity in with this program?

Edited by Victoria Watcher, 02 April 2019 - 07:23 AM.

[Mike K.]

The article is false as this program is not a first of its kind in Victoria.

Bosa/ BlueSky Properties will be offering BosaEquity at 1008 Pandora Street.

https://bosa4rent.com/en/landlord/

 

Bosa has no inventory to offer renters, Ledcor does.

 

Regardless, the two projects are underway concurrently. Whether rent-to-own is offered in one or two projects concurrently, they would both be pioneering something that has never been done.

[sdwright.vic]

Bosa equity is available for use in any new built Bosa or BlueSky development. Not just Victoria. How does that equate to "Bosa has no inventory to offer renters".

One project is almost complete with move ins anticipated by August or September of THIS year.

[Mike K.]

Where does a renter using BosaEquity buy a condo in Victoria?

[sdwright.vic]

They can buy one anywhere with the equity that Bosa has a building going up.

[Victoria Watcher]

but if you have no intention of buying a condo in vancouver how does that program help renters/buyers here?

[spanky123]

So if I understand this correctly, one pays extra on their rent in order to have a portion set aside in a non-interest bearing account so that you may chose to apply it towards a down payment at some future point. Wouldn't one be far better of to put that money into an RRSP, get the tax deduction, get the increase in value over time and then use the first time homeowners program to withdraw the down payment tax free?

[Mike K.]

So if I understand this correctly, one pays extra on their rent in order to have a portion set aside in a non-interest bearing account so that you may chose to apply it towards a down payment at some future point. Wouldn't one be far better of to put that money into an RRSP, get the tax deduction, get the increase in value over time and then use the first time homeowners program to withdraw the down payment tax free?

 

You're not paying extra, the rents are market rates. There is no buy-in fee, nor is there a monthly stipend to belong to the program. You just have the option of using a credit equal to 25% of your monthly rent towards the purchase by reducing the purchase price of the condominium up to 5%. The 25% does not go towards a down payment.

[sdwright.vic]

but if you have no intention of buying a condo in vancouver how does that program help renters/buyers here?

One, Bosa builds other places besides Vancouver

Two, these programs (for either Ledcor or Bosa) areonly useful if someone is able to be approved for a mortgage.

Three, the article claimed:

"For the first time on Vancouver Island, residents of a purpose-built rental complex will have the opportunity to accumulate credit towards a condominium..."

Also:

"Qualified tenants will have the option of contributing 25% of their monthly rent towards a purchase at Belmont Residences."

It is in fact not the first time, and Ledcor uses the phrase "qualified tenants". Bosa sets the 25% aside for all tenants.

[Mike K.]

Oh gawd, SD. 

 

What's gotten into you today?