Monterra Builders is building an 84 multi-family townhome project in Cumberland. Phase 1, consisting of 12 units is now occupied by the new owners. Phase 2, which includes 11 townhomes will be ready for occupancy in October. Construction is ongoing for Phase 3 through 5 for an additional 35 units. The project is expected to be completed in August of 2019. Prices of the units range from $381,900 to $399,900. Sales have been brisk, with 56 of the 84 units sold. Fifteen units are currently under construction.
“The Victoria Census Metropolitan Area (CMA) housing starts trended higher in August on elevated multi-family construction. A large majority of the starts were in Langford, concentrated in rental projects. Year-to-date starts were up 32% in 2018 from 2017,” said Braden Batch, CMHC’s senior analyst. “The increase in starts was not reflected in the single-detached numbers, which were down 5% year-to-date.”
The Canada Mortgage and Housing Corporation (CMHC) released the July 2018 housing starts data last week. Some of the Vancouver Island highlights include:
Comox Valley and Campbell River: Elevated housing construction has the Comox Valley pacing well ahead of 2017 for overall housing starts. The CMHC reported that the Comox Valley has a total of 331 housing units under construction at the end of July 2018, which includes single family homes, semi-detached homes, row housing and apartments. Year-to-date new housing starts total 250 until July 31, compared to 177 for 2017.
Construction activity is also on the rise in Campbell River, according to CHMC’s statistics. As of June 30, 2018, the number of single family homes, semi-detached homes, row housing and apartments under construction is 254 compared to 178 in 2017.
Victoria Highlights: “The trend for housing starts moved higher in July 2018, continuing strong construction activity in the first half of the year for the Victoria CMA,” said Eric Bond, CMHC’s principal analyst. “The number of single-detached starts expanded, particularly in the West Shore municipalities of Langford and Colwood. With strong demand for all types of housing in the region, builders have responded by starting 14% more units in 2018 compared with the same period last year.”
For more information, contact: Len Catling, CMHC Media Relations, firstname.lastname@example.org
Comox Valley Realtor Art Meyers is pleased to announce that the pre-sale program for Phase 3 of Parkside Lifestyle Townhomes has now commenced. Phases 1 and 2 are sold out and construction is scheduled to begin on Phase 3 in late 2018.
Visit the website for updates, pricing, floor plans and available units. The real estate market in the Comox Valley continues to be very buoyant with strong demand and a minimal supply.
Due to the short supply of new townhomes in the Valley, you are encouraged to contact Art Meyers ASAP to find out more about these 1,220 sq ft, three bedroom, 2.5 bathrooms homes.
Prices for these townhomes start at $379,900.
Realtor Art Meyers
Royal LePage in the Comox Valley
Note: Prices and information are subject to change without notice
Both patio homes are 1,820 sq. ft. three bedroom, two bathroom rancher/bungalow-style homes, which are built as a side-by-side duplex.
These thoughtfully-designed homes offer large kitchens with central islands and plenty of cabinet space. Each master bedroom offers a five-piece ensuite, and access to expansive patios.
Crown Isle Golf Course and Community has a number current building lots for sale, with more coming on-line over the next few months.
Are you looking for the perfect building lot to build your dream home? Hampton Gate, is Crown Isle’s only gated, single-family subdivision. The final four building lots are now for sale, ranging in price from $239,900 to $299,900.