Work has begun on a 30-unit, six-storey condo development near Esquimalt’s bingo hall on Esquimalt Road.
Billed as an affordable market housing project, the one and two-bedroom Verde Condominiums at 826 Esquimalt Road will feature unit layouts between 495 and 911 square feet with prices significantly lower than competing inventory in Victoria’s urban core.
“Our goal was to make this project affordable, especially for younger and first-time buyers,” said developer Mark Eraut of Kingsnorth Development Corp.
“Our introductory pricing will start at $209,900 for a one-bedroom unit and $254,900 for a two-bedroom unit. That puts us tens of thousands of dollars below competing projects.”
A single level of parking situated on the ground floor will provide 19 spaces for residents, four spaces for visitors and a single car-share stall.
Site preparation and excavation are currently underway. Construction and project marketing will begin later this fall with building completion slated for August of next year.
A presentation centre is currently under construction at 901 Esquimalt Road and is expected to open to the public in early November. C
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