Downtown Victoria's first condo project since 2021 nearing occupancy; 15-storey 'Mod' over 60% sold
Mike Kozakowski, Citified.ca
Published July 7, 2023
Completion of a 15-storey condominium tower at Cook and View streets in Victoria’s Harris Green neighbourhood is only months away as the downtown ‘book-end’ project pushes north of 60% sold-out.
Mod (see website
), from developers Dan Robbins and Fraser McCall, is on-track for a late 2023 occupancy for its collection of one and two-bedroom suites appealing both to investor-owners, and end-users.
"Since late 2022, the market has shifted to where more homebuyers are looking for two-bedroom, two-bath condominiums in lieu of townhomes or single-family homes, and we still have some of these available,” Dan Robbins says. “On the opposite side of the spectrum, investors are seeing limited pre-sale options in downtown Victoria, as so much of the housing market is focused on the delivery of purpose-built rentals.”
so close to completion, Robbins tells Citified
his team has been responding to considerable interest from down-sizers readying to move out of larger residences and into the convenience of a two-bedroom condo, along with couples looking to get into the real-estate market with a brand new pre-sale slated for a near-term move-in. Investors, meanwhile, are searching for competitively-priced one-bedroom units to make available as condominium rentals, according to Robbins.
To enhance the buying experience, Mod’s upcoming sales phase promoting near move-in ready homes will feature a full display suite within the building available for viewing by late August or early September. The suite will provide purchasers with a clear sense of the detail and workmanship Robbins and McCall have become known for across their many past developments throughout Victoria.
“We opted to provide purchasers with a completed show suite to showcase the finished product, rather than an off-site presentation centre, and we’re excited to reveal this fully furnished home by late summer,” Robbins said.
Comprised of 129 residences, and priced from the mid-$400,000s, Mod will deliver the first batch of condominiums to downtown Victoria since 2021. Normally a hot-bed of condo construction activity, the downtown core’s non-rental supply has slowed as developers pursue apartments given the ultra-low vacancy rate plaguing the Capital Region, and political support for that form of housing.
|15-storey Mod, at right as seen in May of this year, is nearing completion on Cook Street at View Street in Harris Green. The 129-suite project is over 60% sold-out, with one and two-bedroom inventory remaining. Citified.ca |
Apart from market-leading interior design and material quality, a unique aspect at Mod is its 'book-end' siting yielding protected views, which Fraser McCall says are expected to be preserved over the long-term towards the east and south due to the planned build-out of the immediate area.
“The building’s Harris Green location is adjacent to already developed low-rise parcels, and properties that are expected to be redeveloped at lower heights than Mod’s 15 storeys, meaning our purchasers on the upper floors can anticipate unimpeded views towards the Salish Sea and the Olympic Mountain Range, and the historic neighbourhoods of Fairfield and Rockland,” McCall said.
Known as a highly walkable, cycling-friendly neighbourhood, Harris Green's commercial services include a wide assortment of stores and retailers, including Save-On-Foods, The Market on Yates, and the many shops at The Bay Centre shopping mall.
Alternative transportation for a car-lite lifestyle is at the building’s doorstep with Fort Street's AAA all-ages-and-abilities cycling route connecting other AAA routes throughout downtown and further afield. Transit services from downtown Victoria make getting around without a vehicle easy, with routes reaching all corners of the Capital Region, including south Island universities, colleges and employment nodes.
To learn more about homeownership opportunities at Mod, and to view the project’s sales website, click here
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