A sextet of modern rental buildings in downtown Langford have been listed for sale at just below $84 million, Citified has learned.
Available for purchase are five low-rise, woodframed buildings along Hockley Avenue and an 11-storey concrete tower under construction on Claude Road.
Split into three listings, two six-storey apartments at 772 and 777 Hockley Avenue are priced at $17,800,000 and include 50 fully occupied rental suites. An additional 86-units are available among three adjacent buildings on Hockley Avenue ranging between five and six-storeys tall. The largest of the group, dubbed Danbrook One and soon to be home to 90-units, is rising to 11-storeys at nearby 2766 Claude Road with targeted completion by December of this year.
With a 226-unit total, the average valuation of each unit is just under $372,000.
All buildings available for purchase were constructed between 2015 and 2018 and overseen by Langford-based DB Services, a firm specializing in design-build undertakings of large-scale residential real-estate developments.
In addition to the six buildings, DB Services is currently overseeing the Peatt Commons project, a six-storey, 63-unit purpose-built rental on Peatt Road at Hockley Avenue and Hockley Corners, also a six-storey, 63-unit project rising among the street's other rental buildings. And recently finished with occupancy granted only days ago is Railside House, a 60-unit, six-storey building adjacent to the Darcy's Pub complex off Goldstream Avenue.
Purpose-built rental construction is occurring on a massive scale on the West Shore where dozens of projects are planned, underway or having been recently completed. And regionally the purpose-built rental unit count, according to Citified's data, shows 3,100-units are currently under construction with over 5,400 in planning. C
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