Doral Forest Park, building A is an 11-storey condominium proposal along the 4700-block of Elk Lake Drive in Saanich within Victoria's urban core.
The project was initially proposed in 2013, and following subsequent design alterations, was re-envisioned in 2020 with a new architectural firm at the helm.
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This looks great! Would love to buy in that area. I'm curious how much the "affordable" units would be. I certainly would entertain buying pre-construction, alas, I have a feeling I wouldn't even be able to afford an "affordable" unit on lowly single government income. This town...
15% below appraisal, according to the staff report. Studios limited to low-income buyers, larger units open to low- and middle-income buyers. Must be a first time buyer, and no rental or vacation rentals permitted. Same program as at Vivid it sounds like?
In the meantime, if you haven’t already, start the process of pre-qualifying for a mortgage or understand what your mortgage possibilities are, if you haven’t done so already. Being ready to act can make the difference between qualifying for and getting a unit under these programs and scrambling to get your affairs in order to apply on time.
Thanks for this Mike, I am however, already an owner. I own an older "glorified apartment' condo that is basically in the cheapest building in a good area. Was affordable for me when I bought it about 15 years ago. Now, I'm not sure I'd be able to as my salary hasn't changed all that much since then!
Must be a first time buyer
Sigh. Oh well.
I'll have to continue to dream to be able to move to a newer, more energy efficient (with AC!), more soundproofed, place. Still, glad to not be paying rent to someone else!
Have you explored your options already to know where you stand? I apologize if you have, but I run across people on the regular believing they can’t qualify for something without actually checking in to see where they stand, that I make a habit of asking.
I read the letters Saanich councilors received about this development... if Victorians weren't such luddites I would've guessed they were randomly generated by an AI. Glad city hall got this one through at least.
9 Erskine Lane in View Royal got the green light Tuesday as Doral Forest Park in Saanich awaits its fate.
Seven years in planning, a proposal to bring condos to Elk Lake Drive has been re-envisioned.