Rent-to-own pioneer Crossing at Belmont welcomes first residents to newly built Langford apartments
MIKE KOZAKOWSKI, CITIFIED.CA
Published October 17, 2019
Crossing at Belmont, a two-building, 156 premium home rental component of MyBelmont on Victoria’s Westshore marked a major milestone this week with the arrival of tenants to its collection of one and two-bedroom suites.
Located on former Belmont Secondary School lands, the mixed-use master-planned development along Jacklin Road in Langford is comprised of rental apartments
, retail spaces and offices.
"I'm glad I chose the MyBelmont community," says Daniela Arevalo, one of the first arrivals at Crossing at Belmont. "The suites are modern, the staff are helpful, and it's close to my kids' school.
Arevalo's new neighbour Elliot Biranbaum says the master-planned district’s retail options, in the form of a Thrifty Foods grocery store, multiple eateries and restaurants, and a variety of retail services, means many of his family’s needs are met only minutes from home.
“It’s a sense of freedom to know I can grab anything I need within a five-minute walk to one of the wonderful, yet relevant retailers in the area,” Biranbaum said. “I’m looking forward to having everything I need for myself and my kids at any time of the day within arms-reach."
|A duo of five-storey Crossing at Belmont rental residences are situated along Reunion Avenue near the newly opened Thrifty Foods grocery store. Ledcor Property Development / Marcos Riano Photography |
A growing number of individuals like Arevalo and Biranbaum are choosing the Westshore for its new-build housing and lifestyle options, key elements that go hand-in-hand with the area’s growing number of schools and its recreational opportunities.
“There’s a strong demand for urban living in the Capital Region that is not necessarily situated in downtown Victoria or its periphery communities,” said Marcela Corzo, director of development for MyBelmont. “With Crossing at Belmont, we brought together the convenience of urban living next to the Belmont Market, a retail node of its own that has so much to offer to our residents, all within a short walking distance."
Victoria’s largest rental suite management firm Devon Properties has partnered with MyBelmont as the project’s property manager and tenant liaison. Company President Dave Craig says the quality and up-market value Crossing at Belmont has brought to the Westshore rental sector represents a changing attitude among the area’s residents and a response to growing demand for downtown-like urban homes in Langford’s burgeoning city centre.
“If you want to see what top quality units look like, you have to see the Crossing at Belmont suites,” Craig says, adding that “growth in the Westshore’s housing market has created a demand for high-end rental homes among renters who want an urban apartment in a suburban setting closer to what matters to them and their families.”
Craig also spoke of the growing MyBelmont district and its retail partners that are introducing new commercial services to the Westshore.
“With tenants moving in, the MyBelmont community is really taking shape. We are well on our way to reaching capacity and are seeing new retail tenants added every week, further making this the spot to live in on the Westshore.”
MyBelmont's masterplan made headlines earlier this year when it became the first project on Vancouver Island to offer a rent-to-own option for individuals who rent a unit at Crossing at Belmont, MyBelmont's all-rental component underway alongside Belmont Market, developed by Crombie REIT, which is Langford's newest shopping centre offering a wide array of businesses and services, and a flagship Thrifty Foods.
Residents of the purpose-built Crossing at Belmont will have the opportunity to apply 25 per cent of their monthly payment towards the purchase of a condominium at Belmont Residences. For example, a tenant paying $2,000 rent per month on a two-bedroom Crossing at Belmont unit will have earned a credit of $500. By spring of 2022, the renter will have accrued a $13,500 down payment toward purchasing a condominium. Specific situations will differ depending on the suite and the rent rent paid, and participants in the program will be required to sign an enrolment form describing the terms and conditions of the Belmont Rental Rewards Program.
MyBelmont is a new 22-acre community underway on southern Vancouver Island’s Westshore. The project’s residential properties will comprise of six phases, including Belmont Residences East and West, targeting first-time home buyers, working professionals, and downsizers.
As part of a burgeoning district within the Westshore, MyBelmont’s residential offerings are quickly garnering attention as an ideal fit for individuals seeking an urban-meets-suburban lifestyle.
To connect with the Belmont Residences team, click here
to view the project’s website, and to learn more about Crossing at Belmont’s rental opportunities, including the rent-to-own program, click here
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