Langford's #MyBelmont community celebrating three years of construction; latest condo offering 90% sold-out
MIKE KOZAKOWSKI, CITIFIED.CA
Published March 9, 2021
Langford's multi-phased, mixed-use #MyBelmont community on the former lands of Belmont Secondary School is celebrating three years since shovels first hit the ground.
Construction at the 22-acre site anchored on Jacklin Road at Reunion Avenue began in March of 2018. Since then, developer Ledcor Property Investments has delivered 156 rental homes within two purpose-built rental complexes known as Crossing at Belmont
, and 80 condominium suites within the first phase of homeownership opportunities, dubbed Belmont Residences West
A further 85 condominiums at the five-storey Belmont Residences East
, currently 90% sold-out, are under construction with completion targeted for mid-2022.
At build-out, 521 residential units will be completed along #MyBelmont's Reunion Avenue corridor that spans the southern portion of the property adjacent to the Galloping Goose Regional Trail. The next phase of homes, planned as a third condominium offering, are currently in the development application stage and will be submitted to the City of Langford this week.
The 160,000 square-foot Belmont Market
commercial component, which includes a 53,000 square foot Thrifty Foods and a growing spectrum of commercial operators, is readying to deliver its next building later this year with frontage onto Kelly Road. Future phases of construction will include office and additional retail spaces.
The rapid rise and successful uptake of the project by both residents and business operators has positioned #MyBelmont as a symbol of Langford's economic resilience and its attractiveness to newcomers, which Langford Mayor Stew Young says are a testament to the City's pro-growth, family-friendly agenda.
"The City of Langford remains committed to supporting the development of a range of housing options for Langford residents," Young said. "The #MyBelmont community is not only a key economic driver for the City but also a great example of where you can live, work and play in your own community."
Pat Patterson, President of Ledcor Property Investments, says the changing West Shore is attracting significant interest from companies looking to invest in the area's growth amid its emerging role within Greater Victoria, and spoke to his organization's participation in the City's vision.
"We're excited to be celebrating the past, present and future of the #MyBelmont community in Langford," said Patterson, adding that "Langford is one of the fastest growing municipalities in Canada and we feel privileged to have been able to bring our international expertise to the West Shore communities of Vancouver Island."
The residential concept brought forward by Ledcor has resonated with homebuyers who flocked to the new-build property given its central location, walkable setting and access to green spaces that include cycling trails and ample parks.
With the current phase of #MyBelmont's condominium homes nearly spoken for, only a handful of two-bedroom suites remain at the 940 Reunion Avenue building. #MyBelmont's residential developments will eventually comprise five phases, including the Crossing at Belmont rental apartments, Belmont Residences East
and its (sold-out) counterpart Belmont Residences West, targeting first-time home buyers, working professionals, and downsizers.
Meanwhile, 2020 saw the acquisition of Crossing at Belmont by Killam Apartment REIT, which secured the mixed-use properties as part of its investment strategy in the south Island residential market.
"We are pleased to continue to expand our apartment portfolio in Victoria," said Philip Fraser, President and CEO of Killam Apartment REIT. "The recent addition of the two, five-story rental buildings, consisting of 156 rental units, is a great example of Ledcor's commitment to community that we are proud to be a part of." C
© Copyright 2021 by Citified.ca. All rights reserved.
You may be interested in:
$32 million 4.2-acre Colwood Corners land offering one of the priciest in Capital's history