50% sold-out, ‘Lookout’ condo overlooking West Shore’s Florence Lake launches phase two of pre-sales
MIKE KOZAKOWSKI, CITIFIED.CA
Published February 23, 2022
A 130-residence luxury condominium and townhome project slated for Bear Mountain Parkway in Langford has reached a major sales milestone following its unveiling in December, Citified has learned.
'Lookout,' from developer Aquila Pacific, has sold through over 50% of its one, two and three-bedroom units in a six-storey, two-building complex coming soon to a forested rise above Florence Lake north of McCallum Road.
“We’re thrilled with the market’s response to Lookout’s initial home offering,” said Simer Rattan, President of Aquila Pacific.
“Demand for up-market condominiums on Victoria’s West Shore has steadily increased in recent years, and given Lookout’s location, its amenities and its proximity to Bear Mountain Resort, VIP registrants propelled our pre-sale campaign to the top-end of our targets while interest in our second release remains exceptionally strong.”
Fully sold-out of its initial phase one allotment, Lookout’s second sales phase of condominiums – plus two and three-bedroom multi-level townhomes – is priced from $469,000 in one-bedroom configurations, while two-bedroom homes are priced from $579,000. Three-bedroom suites start from the low $700,000s. All residences include at least one parking stall, secure bicycle lockers and storage.
Floorplans range from just under 650 square feet to over 1,100 square feet, and feature expansive outdoor patios. Townhomes are available from the mid-$800,000s and sized from nearly 1,450 square feet to over 1,600 square feet, with exterior access and parking for two vehicles.
Lookout’s rendered living areas and kitchens depicted as part of an open-concept layout with near floor-to-ceiling windows for exceptional views of the project’s natural surrounds. Aquila Pacific
Rattan says an amenity package taking full advantage of lifestyle and workplace trends will deliver indoor and outdoor spaces in-keeping with social expectations. Pet-friendly provisions will help make clean-up easy after visits to the beach or hikes through the West Shore’s many trails, and cyclists will enjoy a well accessorized bicycle repair station.
“Lookout’s amenities are some of the most comprehensive in the region, with a three-storey private space for residents comprised of high-tech co-working pods to support individuals working from home, a dining room with its own test kitchen for entertaining guests, and a lounge, plus pet care and cycling infrastructure. And that’s just in one building,” Rattan said, adding that “in the second building, all residents will have access to a two-storey gym with a dedicated cardio and studio room, and a spacious outdoor patio will bridge both buildings with views onto Florence Lake.”
With a disclosure statement now filed and a building permit in hand, construction is expected to begin this spring, with an early 2024 completion target.
Aquila Pacific has also launched a revamped, detail-rich website for Lookout that includes updated visuals, floorplans and project information as phase two of its sales campaign gets underway.
“With Lookout, we set out to create an offering that meets the expectations of Greater Victoria’s changing real-estate market, provides our purchasers with peace of mind for the long term, takes advantage of an amazing location just minutes from the world class Bear Mountain Resort, and is close to national retail amenities,” Rattan says. “We highly encourage individuals interested in learning more about this project to register on our website to take advantage of early previews and registrant-only updates.”
A rendering of Lookout's comprehensive three-storey resident amenity area, part of market-leading spaces for entertaining, work pods, a fitness facility and an outdoor lounge. Aquila Pacific
The Lookout’s strong sales performance stems from its marriage of rising demand for luxury suburban housing in the Capital Region and the cost advantage of condominium or townhome dwellings over single-family-homes.
Lewis Ratcliff, PREC, a Langford-based real-estate agent involved with Lookout’s pre-sale campaign, says the West Shore’s advantage over Victoria’s urban condominium markets often comes down to floor space, and Lookout is on board with this trend by catering to homebuyers searching for urban-styled homes in a suburban setting without sacrificed living space.
“If we look at market trends since early 2020, the demand for Langford’s condominiums has outpaced supply primarily because home buyers have put more onus on lifestyle choices rather than proximity to employment,” Ratcliff says. “The sudden arrival of work-from-home options has dramatically changed the way we envision our ideal homes, and when distance to the office is no longer the number one priority, it opens up so many more options for individuals just entering the workforce or nearing retirement. More importantly, it also means a larger layout is now a matter of practicality, and no longer a suitable trade-off for location.”
Over the last two years, the West Shore real-estate market has surged in popularity given the size and quality of its new generation of housing, and the area’s confluence of urban amenities, access to outdoor parks and recreation, and infrastructure networks connecting all points of the south Island via roads, cycling trails and transit. Langford, in particular, rose through the ranks of Victoria’s top pre-sale listings by offering larger homes, with parking, at a time when buyer preferences weighed space and mobility options as premium criteria.
|A rendering of a bathroom at Lookout, featuring up-market finishings and materials. Aquila Pacific|
Demand for new residential inventory in Langford is at an all-time high, with the Capital’s cost of real-estate re-focusing homebuying pursuits from single-family-dwellings averaging $1.4 million to larger condominiums. And with work-at-home a new reality for many, the extra square footage West Shore units feature is top-of-mind and a trait many buyers are unwilling to compromise on. Similarly, the preference to drive a personal vehicle during COVID-19 impacted the market’s desirability for on-site vehicle parking which is often a standard feature among West Shore new-builds.
To learn more about Lookout, view the project website here.
Aquila Pacific, meanwhile, is planning multiple projects in Greater Victoria including two purpose-built rental towers coming soon to Esquimalt’s burgeoning town centre near CFB Esquimalt, and in planning is what Rattan calls "an exciting new condo project" in the same area. C
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