Clarice Coty's Blog » Condominiums

Construction Starts at Coldwood’s Capital City Centre

Clarice — Tue, 31 Jan 2012 19:27:56 +0000

Ground has now been broken on a $1 billion real estate and construction project at Colwood Corners on south Vancouver Island. With a build-out of 20 years, the “Capital City Centre” has the potential to draw 4,000 people to Colwood’s core, living in 2,220 condominiums and townhomes.
During phase 1 and over the next five years, the southern third of the 14-acre site is planned for a four floors of residential atop 35,000 square feet of space for London Drugs, a five-storey office building, three retail buildings and a public plaza for outdoor events and farmers’ markets.
Once completed, the next building would be a 26-storey residential tower, the tallest building planned for the Island. More retail space would round out the completion of phase 1, worth $250 million. Parking is planned underground.
Ultimately, the build-out envisions 12 residential and office towers and scores of retail units, for a total of 3.8 million square feet of space, spanning the property between Belmont Road and Colwood Crescent.

Luxury Waterfront Condos Now Selling at Oak Bay Beach Hotel in Victoria

Clarice — Mon, 30 Jan 2012 18:28:18 +0000

The Oak Bay Beach Hotel in Victoria on Vancouver Island is nearing completion of its oceanfront hotel, Victoria hotel vacation suites and luxury waterfront residential condos.
Looking back on 2011, the resort had its best sales year yet, with more than $20 million in sales on the books when the year ended, according to the Oak Bay Beach Hotel’s director of sales Brad Neufeld.
“I guess that shouldn’t be surprising given the quality of the project, the ability for clients to come for a hard-hat tour of the project, and the opportunity to see first-hand the views offered in the various properties,” Neufeld said. “Nevertheless, it is extremely gratifying to watch our clients embrace the vision that we are bringing to life. 2011 saw us complete the sell out of the first three phases of vacation hotel suites, and we have now also sold 40 per cent of the residential condo properties in the project.”
The Oak Bay Beach Hotel is still offering pre-opening programs to early buyers.
“Phase four of the vacation hotel suites will be released this month, and we are calling this the ‘Have Your Cake And Eat It Too’ program,” Neufeld explained.
“You receive a leaseback contract from us that is 50 per cent higher that normal, with the right to sell the property back to us after five years.”
The Oak Bay Beach Hotel is also offering a “Fly and ‘Try” program that includes a free weekend / three day trip to Victoria to come and see the vacation suites and oceanfront luxury condominiums. If you decide to buy while you are visiting, the Oak Bay Beach Hotel will pay for your trip.

New Real Estate Developments Mean Construction Increases on North Vancouver Island

Clarice — Tue, 24 Jan 2012 16:01:56 +0000

Editor’s note: The following story ran in the Jan. 13 edition of the Comox Valley Echo.
New figures show there was a big fall in the number of new houses being built locally last year – but there are signs the situation is starting to turn around.
The details have been compiled by Building Links – the digital newsletter monitoring North Vancouver Island construction activity – which notes a significant drop in construction in the Comox Valley and Campbell River areas last year.
In 2010, building permits for 468 single-family homes were issued compared to 363 last year, said Building Links editor Clarice Coty. That represented a fall of 22 per cent.
In percentage terms, the biggest reduction was in the Town of Comox, down from 105 to 44, or 58 per cent.
Year-on-year single-family home building also declined in Cumberland (down from 27 to 16) and in the City if Campbell River (a fall from 167 to 114)
But more homes were built in the City of Courtenay last year than in 2010, with the numbers rising slightly from 61 to 69. And in the rural areas surrounding the municipalities, there was also growth – from 108 homes in 2010 to 120 last year.
The overall value of local construction activity of all types in 2011 amounted to $175 million, said Coty, but that was down by almost $35 million on the previous year’s $209.5 million total – a 16 per cent fall.
“We expect that new housing starts will increase by about 10 per cent in 2012 due to the new inventory of new lots in the Comox Valley,” she suggested. In addition to single-family homes, Coty noted there had also been permits issued last year for 62 multi-family units in Comox worth a total of $11.6 million in construction costs, and another 66 in Courtenay – including three duplexes with a building permit value of $10.2 million.
She added: “There are at least four condominium and mixed use developments that are slated to start construction in the region during 2012: two in Comox, one in Courtenay and one in Campbell River.
“These projects have received most of their approvals and are waiting for building permits before proceeding. In total they will bring approximately 120 new multi-residential units on to the market.”
She considered the past year had been “challenging” for the construction and real estate industries on the North Island, but added: “This year shows signs of promise.”
Go to the Building Links website to subscribe to your 4 free copies of the newsletter

Unique Live-Work Building Slated For Courtenay Applies For Changes

Clarice — Mon, 23 Jan 2012 20:23:53 +0000

Changes to plans for a mixed commercial and residential development in Courtenay’s downtown core have been presented to city council.
The proposal for Tessitura Flats — a recording studio and a live performance venue with a cafe and residential units — was approved for a development permit in June, at 534 Cumberland Rd. near the school board office and fire hall.
A company representative presented Courtenay council with updated plans for Tessitura Flats, which would now consist of 14 new Comox Valley homes instead of 13, and six live/work units instead of five. On the third floor, one of the two proposed retail spaces and a residential unit would become the additional live/work space. The mezzanine, would be replaced with two residential units.
“If we reduced the size of that (mezzanine) we were more likely to be able to populate rather than have this cavernous space,” explained Eirah Unger. “We thought by increasing the density it would improve our numbers.”
While the building would not physically change in height, it would now be considered five stories instead of four, as a mezzanine is not considered a floor. The development would still be oriented around a central courtyard, and the live performance space would still be the central feature of the project.
Council unanimously passed a motion to give notice to adjacent property owners and return the application to council Feb. 6.

Excerpted from the Comox Valley Record

Robannah Developments Features Unique Comox Valley Homes

Clarice — Mon, 16 Jan 2012 20:22:33 +0000

Robannah Developments is now selling a number of unique homes in the Comox Valley.
The Vancouver Island home builder is offering a unique opportunity for an investment or home with a mortgage helper in Comox. 1605 Dogwood Ave in Comox offers a newly-built, 2,190 sq ft family home, with double garage, custom cabinetry, slate/tile entry, timber accents, and bonus room. Upstairs the large master suite with ensuite, features a tiled shower and walk-in closet. Two more bedrooms and a rec room complete the upstairs.
The home comes with an attached, private 2-bedroom suite perfect as a mortgage helper or for in-laws.
This new home this is located on large treed lot that is within walking distance to schools, shopping mall, golf course, marina and the newly improved Comox community centre.
Robannah Developments is also selling live/work condominium homes in Courtenay on Vancouver Island, which offer commercial space downstairs with residential units upstairs. These 1180 sq ft homes offer some ocean views and the 650 sq ft downstairs work spaces are centrally located in a busy commercial area, close to major retailers and new development.
These units are priced starting from $249,000. These live/work condos are located at 3030 Kilpatrick Ave in Courtenay.
Contact Realtor Tina Vincent for more information on either of these Robannah Developments projects.

Ocean Views Abound at Condos and Townhomes at The Boardwalk in Nanaimo

Clarice — Fri, 13 Jan 2012 21:53:47 +0000

The Boardwalk is a new real estate development offering 33 Vancouver Island ocean view townhomes and condominiums in Nanaimo.
Located only steps from Nanaimo’s premiere waterfront walkway in the historic Newcastle area, The Boardwalk condos and town homes offer easy access to marinas, waterfront walkways and outdoor activities.
These new Vancouver Island homes have been designed to take advantages of the stunning views and xxpansive windows capture dazzling views of the water, city, marina and more. Large private balconies and/or ground floor patios offer space for relaxing and taking in the views.
These ocean view townhomes and condos features contemporary West Coast architectural design, and all concrete and steel construction. The Boardwalk offers secured, underground parking and a bicycle storage room.
Residents will enjoy peaceful courtyard gardens and spectacular ocean views from a fully-furnished entertainment roof top deck
New homes at The Boardwalk range from 554 sq ft studio condominiums to 1355 sq ft 2 bedroom + den townhomes, and range in price from $244,900 to $629,000. The Boardwalk Presentation Centre at 370 Stewart Avenue in Nanaimo is now open Thursdays, Saturdays and Sundays from 1-4 p.m.

Comox Valley Real Estate Properties Assessed at $11 Billion

Clarice — Sun, 08 Jan 2012 22:30:54 +0000

Property assessment notices were delivered to more than 34,000 homes and businesses in the Comox Valley last week, and the numbers were generally stable from the previous year.
While there have been valuation variations to several thousand properties this year, they are in a relatively tight range. Of the Valley’s residential properties that have seen changes, the variations are mostly in the range of minus 10 per cent to plus 10 per cent, compared to the 2011 assessments.
Within the City of Courtenay the average assessed value of a single family homes has risen by just half of one per cent over 12 months, from $317,000 in 2011 to $318,500 for 2012.
In the Town of Comox, the increase for the average single-family home is higher, at just over three per cent. The 2011 average of $325,000 has risen to $336,800.
But in both the Village of Cumberland and rural areas of Comox Valley Regional District, average assessments for single-family homes are down.
In Cumberland, the average drop is about 1.5 per cent, from $259,500 in 2011 to $255,800 now.
And in the rural areas A, B and C, the fall is around 3 per cent from an average of $363,000 last year to $352,600 now for properties of up to two acres; and from $487,000 to $470,700 for larger acreages.
For strata condominiums, the average assessed value had fallen for 2012 in both Courtenay and Comox.
In Courtenay it was down by around one per cent from $125,000 to $123,600, and in Comox the drop was about two per cent, from $256,100 to $251,200.
While most commercial properties in the Valley saw very little change in their assessments from last year to this, where there were swings they were over a slightly wider range than that experienced by residential properties. That commercial range was from minus 15 per cent to plus 15 per cent.
Overall, the total assessed value of properties in the Valley now stands at around $11 billion.
Of that total, $9.75 billion is in residential property, with almost $1 billion in commercial assessments. The balance is accounted for by a handful of smaller categories, such as utilities and industrial properties.
The value of new developments in the Comox Valley over the past 12 months includes $127 million worth of residential property and $9.4 million in new commercial space – with more in the pipeline.

Excerpted from the Comox Valley Echo

New Homes Feature Ocean Views at The Gales in Ladymsith

Clarice — Wed, 04 Jan 2012 21:53:47 +0000

New patio homes and condominiums at The Gales in Ladysmith offer some of the most stunning views to be had on Vancouver Island.
Expansive windows let the light in and take full advantage of the ocean views in these new homes. Enjoy the dramatic, ever-changing outdoor scenery from the comfort of your spacious living room, or steps outside and enjoy the large sunny patios and balconies.
All 68 homes in the development (42 patio homes and 26 condominiums) are inspiring. Features include vaulted ceilings, spacious rooms, top-quality finishing and amazing attention to detail. Homes are designed and built in West Coast contemporary architectural style and floor plans are open, ideal for entertaining.
Homes at The Gales range from $599,000 – $650,000. A number of homes are already occupied, and a new phase of patio homes was recently completed. Learn more about The Gales on 1stView.ca

New Nanaimo Homes at The Boardwalk Set Steps From the Waterfront

Clarice — Tue, 20 Dec 2011 23:33:54 +0000

The Boardwalk is a collection of 33 new Vancouver Island ocean view townhomes and condominiums in Nanaimo, starting from $244,900. Located only steps from Nanaimo’s premiere waterfront walkway in the historic Newcastle area, The Boardwalk is “your path to Island living.”
These ocean view townhomes and condos features contemporary West Coast architectural design, and all concrete and steel construction.
Located only steps from the waterfront, these Nanaimo condos and town homes offer easy access to marinas, waterfront walkways and outdoor activities.
These new Vancouver Island homes are designed to take advantages of the views. Expansive windows bring in light to capture dazzling views of the water, city, marina and more. Soaring nine foot ceilings throughout expand the sense of light-filled spaciousness. Large private balconies and/or ground floor patios offer space for relaxing and taking in the views.
New homes at The Boardwalk range from 554 sq ft studio condominiums to 1355 sq ft 2 bedroom + den townhomes, and range in price from $244,900 to $629,000. The Boardwalk Presentation Centre at 370 Stewart Avenue in Nanaimo is now open Thursdays, Saturdays and Sundays from 1-4 p.m.
And now, purchase a new home at The Boardwalk by Dec. 31 and choose from a free car lease for a year or a $5,000 pre-paid Visa card. Only 5 are available – restrictions apply, speak to the sales team for details.

The Gales Patio Homes Offer the Best of Vancouver Island Living

Clarice — Tue, 20 Dec 2011 19:18:22 +0000

The Gales, a new ocean view patio home and condominium real estate development in Ladysmith offer residents an idyllic Vancouver Island lifestyle. With year-round outdoor activities and adventures to be enjoyed in one of Canada’s most temperate climates, you are never at a loss for things to do. From a walk on one of the many local beaches to leisurely strolls through pristine forest right at your back door, the lure of natural wonder is ever beckoning.
If you are in the mood for a slightly more urban experience, the town of Ladysmith offers the convenience of being close by without the manic pace of a large urban centre. The relaxed and friendly pace of life in Ladysmith will leave you as refreshed as you are after a walk in one of the many local parks.
A number of homes at The Gales are complete and occupied. A new phase of patio homes was completed last spring. New homes at The Gales are priced from $599,00-$650,000.