Sparrow condominium dev launching second phase of sales with BC Housing-backed first-time buyer incentives
MIKE KOZAKOWSKI, CITIFIED.CA
Published September 25, 2020
Following a successful first sales release of homes last month, developer Abstract is set to unveil the second release in its 49-suite Oaklands neighbourhood condominium development this weekend, including attractive purchase options for first-time buyers.
Working in partnership with BC Housing, Abstract will provide eligible new homebuyers with the opportunity to purchase a home at Sparrow pre-construction, with only a 5% downpayment deposit.
Nine homes will be available through the program, representing studio, one and two-bedroom options ranging from 324 – 571 sq. ft. The program requires that eligible purchasers have an annual household income below $116,330 for a suite with fewer than two bedrooms, or less than $163,220 for a suite with two or more bedrooms. Eligible individuals must also be Canadian citizens or permanent residents, as well as residents of British Columbia.
Abstract launched its first release at Sparrow in late July, quickly selling out.
“Our first release was exceptionally well-received,” said Curt Woodhall, Vice President of Sales & Marketing for Abstract. “Sparrow’s desired Oaklands neighbourhood location combined with a diverse range of intelligent interior layouts and design features has already established demand for these homes among a range of homebuyers. Paired with a 5% down ownership option, we anticipate a similar response to the second release.”
|A rendering of a suite interior at Sparrow, Abstract's latest condominium offering. The 49-suite project is set to rise on Cook Street at Hillside Avenue in Victoria's Oaklands neighbourhood. Abstract Developments|
Rising to six-storeys, Sparrow’s perch atop a high point on Cook Street at Hillside Avenue offers exceptional vistas of downtown Victoria and the leafy streets of its Oaklands setting, with urban views in all directions and the Olympic Mountain Range beyond. Situated next to a Garry Oak stand and the large park-like expanse of the adjacent Cridge Centre, residents will enjoy the area’s many amenities in a walkable community just a stroll from Quadra Village, North Park Village on Cook Street, and the many services of the nearby Hillside Shopping Centre.
The building also provides range of options for residents to take advantage of alternate ways to get around Victoria, from offering several cyclist-oriented amenities including on-site bike repair and wash stations, two shared cargo bikes for exclusive use by residents, and an at-grade bike room. Homes also include a Modo Car Share Partnership Membership to access the building’s on-site Modo car, and an annual BC Transit Pass, an inclusion that is-well suited for the high frequency transit options available right outside of the building’s residential entrance.
Ten homes at Sparrow are priced below $325,000, while a variety of intelligently configured floorplans featuring Abstract’s award-winning urban flair will cater to a wide range of needs, including opportunities to secure an on-site parking stall.
Construction is expected to begin by mid-2021 with completion slated for mid-2023.
Sales for the second release begin by appointment this Saturday at the Sparrow Presentation Centre, located at 1967 Oak Bay Avenue. Individuals wishing to learn more about the project, and to register their interest, are encouraged to visit Sparrow’s website here.
Celebrating over 20-years in business, Abstract Developments is one of Victoria’s most recognized builders of high-quality condominium residences and custom homes. The company has delivered numerous condominium and townhome projects throughout the region and is currently nearing the completion of Fifteen88, a 62-home offering approaching sold-out status on North Dairy Road near Shelbourne Street. Meanwhile, crews are making progress at Bellewood Park, one of the most luxurious pre-sale opportunities in the Capital with a unique collection of designer residences in Victoria’s tony Rockland neighbourhood. Bellewood Park, now selling condominiums and townhomes, is on track for completion next year. C
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