“A shift towards suburban condominium offerings means buyers are searching for non-urban locations more than ever, but they also place high value on benefits like ocean views from their suites, proximity to modern conveniences like grocery stores and eateries, walking trails, parks and schools. Royal Bay is already known for the latter, and with construction of the Royal Bay Commons already underway, commercial amenities and the retail village is expected to be completed ahead of Eliza’s estimated occupancy period in early 2025,” Blainey continued.
Upcoming retailers, Blainey says, include a Quality Foods grocery store, a Cascadia Liquor Store, and multiple tenants that will provide pharmacy, banking and food services within The Commons at Royal Bay, the neighbourhood’s first commercial area.
As part of its amenity package, Eliza will provide residents with a well apportioned rooftop deck with a fire pit and barbecue grill, while at ground level, residents will enjoy a large green space with picnic tables and a community vegetable garden. Inside, a lounge and amenity space will be built, as will a convenient fitness centre.
Parking will be available with every home in a secure underground parkade. Residences will also include storage space and a bicycle locker.
Eliza developer PCRE Group, which has been at the helm of Royal Bay’s growth from day one under its subsidiary homebuilding firm GableCraft Homes, considers Royal Bay as a premiere residential draw on Vancouver Island, and it carries the distinction as the company’s largest project in British Columbia.
“We are committed to quality that exceeds industry standards, and setting the bar ever-higher in every community we build in,” says Matthew Davis, Vic President of Development at PCRE Group.
“PCRE is passionate about building flourishing communities, and our new homes at Royal Bay take full advantage of the unparalleled location considered to be one of the most stunning locations in all of Canada. Eliza, for us, is a celebration of this quintessential West Coast setting, in one of the most desirable parts of Greater Victoria, and we are excited to be introducing condominium homes to the Colwood waterfront.”
In terms of pricing, Eliza’s one-bedroom suites will be available from the mid-$400,000s, while larger two-bedroom layouts will be priced from the low-$600,000s. Homes will be sized from just under 600 square feet to over 1,000 square feet, not including outdoor terraces and balconies.
Blainey anticipates construction to get underway this fall, yielding a completion target for early 2025.
To learn more about Eliza, the public can visit the project’s presentation centre at 3567 Ryder Hesjedal Way Tuesday-Sunday from 12-4pm in the Royal Bay community, call 250-590-2502 to book your private appointment, or view the project’s website
here.
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