2350 Sooke Road, Colwood BC (Coming Soon)
Westcor is pleased to present 83 new homes in the heart of the Colwood Langford community. This site is the prominent corner entrance to Colwood, central to all the Victoria area amenities, not far from the Galloping Goose trail and many nature parks and walks.
Westcor is pleased to present 83 new homes in the heart of the Colwood Langford community. This site is the prominent corner entrance to Colwood, central to all the Victoria area amenities, not far from the Galloping Goose trail and many nature parks and walks. The property corners on Sooke Road and Veterans Memorial Parkway, and there is a direct link to the Island Hwy for north or south travel. Victoria General Hospital is seven minutes away. Shopping is walking distance. This project is a six story building with no compromise on parking from the zoning requirements. The design is an integrated design of two bedroom and den, two bedroom and one bedroom homes. Westcor has designed this to be a community within the community of Colwood. The ground floor has space for a coffee shop or other small retail and a shared office concept for those residents close by that need to go to an office for certain meetings or just get away from working at home, can have a membership in the drop in concept office. Many of these homes will have a nice view of the surrounding area.
The location of these homes is very central to Victoria life. The design of these homes with the varied sizes and types, gives ample opportunity for families through to seniors to live in this new community. The quality of Westcor builds will ensure the heating cooling of these homes will be done efficiently and cost effectively. Westcor fine finishes and choice of materials ensures many years of carefree living.
Westcor has developed strong strategic relationships with a few companies specializing in Micro-Mobility solutions and Solar Technologies, allowing us to bring these solutions to all our new communities. We have considered the trend towards biking and electric bikes and have incorporated bike parking and storage into our designs. Secure Bike Parking, especially with the Galloping Goose Trail so close, has been included in this design. We are also providing adequate power to charge automobiles throughout the parkade levels. With the trend to electric vehicles, Westcor continues to plan for the future in its developments.
Westcor has three options for this development. First is a for sale condominium development for open market sales.
Second is as a rental with CMHC secured funding. This funding comes with an overall project rent discount of 10% from equivalent market housing. This is administered by Westcor with CMHC to a discount on some units by 25%, ensuring affordability for this project.
The third option involves a hybrid rental homes and sale homes possibly through the AHOP program administered by BC Housing Hub. This program sees the buyer of homes in this project partially funded with interest free long term equity from the perpetual affordable housing program administered by BC Housing, through BC Housing Hub for Colwood’s benefit. The concept behind this program is supplying ownership homes to renters earning middle income wages. So affordable to working families and individuals qualifying for conventional first financing. The long term part is an interest free loan for 25 years, no interest or payment. When this is repaid, the Province hands the money to the community of Colwood for additional affordable housing at that time. If the new homeowner sells within the 25 years to a non-qualifying buyer, the original percentage of the purchase price is taken from the sale to repay the interest free loan in full. However, if the home sells to a qualifying buyer, the interest free loan is reset for another full 25 years for the new buyer, at the percentage of the sale the original loan was issued at. What this program allows is renting families and individuals that own no property worldwide to build home ownership equity. BC Housing will allow a mix of rental options and ownership options in the same building – an option not available through the current CMHC programs.
Westcor continues to move the interest of this project forward, working with Colwood to ensure that the rezoning of the development is complete.
This development, as many of Westcor’s Developments, is designed to be an attractive place to live, in an incredibly great location, for middle-income families and individuals.
Experienced in project management
Westcor Continues to Manage the forward Momentum of this Project
We provide a variety of solutions
Westcor has three options for this development including For Sale Condominiums, For Sale Townhomes and, For Rent Condominiums.
Secure Bike Storage, especially with the available community trails so close by.
Want to Join Us?
Westcor is developing plans for this project now. The plans still need to follow through the zoning process, but Colwood has been very helpful articulating their expectations and our Architect and Design team are positioning this design to meet the market Westcor is wanting to serve. Attached are the plans and we will be updating them as revisions are made. We will know in the coming weeks if this project is qualified for BC Housing Hub and if this will be rental or ownership housing, or a mix of both. We expect this will fill up fast for this well-located development. Please tell us what style of home would suit your needs and we will keep your name on the list to reach out to you when we have an answer between ownership and rental homes.
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Westcor is developing plans for this project now. The plans still need to follow through the zoning process, but Colwood has been very helpful articulating their expectations and our Architect and Design team are positioning this design to meet the market Westcor is wanting to serve.