Townhomes a hot commodity in Victoria's booming COVID-era real-estate market
MIKE KOZAKOWSKI, CITIFIED.CA
Published October 1, 2020
Growing demand for ‘missing-middle’ housing opportunities in Victoria’s core is yielding strong townhome sales this fall as urbanites turn to the spaciousness of townhomes.
Labelled ‘missing-middle’ for their relative rarity among the Capital’s housing stock and price points (along with square footage) that often land between condominiums and traditional houses, townhomes have become a hot commodity in 2020 as new pre-sale preferences emerge on the market.
“The last few months have been some of the busiest we’ve seen with buyers curious about townhome living in an era when social distancing and private outdoor spaces have become a more pronounced factor in real-estate decisions,” says Edward Geric, President of Mike Geric Construction, which is currently building the 36-residence Reeve townhomes in Saanich’s Royal Oak neighbourhood.
“With our phased construction at The Reeve, we have three move-in ready residences from the first phase that purchasers can tour to develop a better sense of townhome living, and do so in a clean and COVID-conscious environment. A subsequent phase will include move-in ready homes this fall, and this January.”
Geric and his team have observed a trend among couples deciding on townhome living in lieu of condominiums, which have traditionally been the first step in ownership among newlyweds and urban professionals. The reasons for the shift, Geric believes, are multi-fold.
“When you consider the cost of a larger two-bedroom condominium and that of a new-build townhome, the price disparity between them is no longer as large as it once was,” Geric said. “Many people are also working from home more often, so having multi-level spaciousness makes it easier to do that. You also have the benefit of a private garage, parking for more than one vehicle, an outdoor private green space and multiple decks. And that’s before you take into consideration the established neighbourhoods in which townhomes are often built, like at The Reeve where trails, parkland and shopping are nearby.”
|A move-in ready townhome at The Reeve, a development nearing completion in Saanich Royal Oak neighbourhood. Mike Geric Construction|
No stranger to supplying Victoria with the ‘missing middle,’ Geric’s latest offerings at The Reeve feature large floorplans with attention to detail and quality workmanship, signatures of a name known throughout the region as a builder with a long past in custom high-end home and sustainable multi-family construction.
Starting from the ground up, The Reeve’s multi-level townhomes include two-vehicle parking with an electric charger-equipped one-car garage and parking on the driveway, plus dedicated visitor stalls. Professionally landscaped grounds add a touch of flair and a welcoming element to every home.
Living spaces are separated by party wall soundproofing to ensure privacy and comfort, while spacious outdoor spaces are perfect for barbecuing, entertaining and activities for the kids.
Sustainable considerations include construction and design with energy efficient Central Variable Refrigerant Flow heating and cooling for optimal environments in all seasons. Solar voltaic panels on each home help reduce the cost of electricity and individually metered on-demand hot water and gas keep strata fees low.
Local firm KM Interior Designs has collated two colour palettes for purchasers to choose from that blend light and dark accents which lend nature-inspired hues befitting The Reeve’s park-side location. Custom built-ins include a kitchen pantry and open shelving, laundry room cabinets and countertop, an entertainment centre with storage shelves in living areas and a mirrored medicine cabinet in the main bathroom.
All homes include a wide-screen custom-mounted television in the living room alongside gas powered fireplaces for efficient heat and a cozy atmosphere, plus a cordless Dyson vacuum to make easy work of cleaning up.
Spacious kitchens and bathrooms with quartz countertops and custom tiles throughout lend luxury to where it matters most, with spa-like treatments in ensuite bathrooms complete with large-sized tubs and showers. Every home includes Whirlpool appliances with a gas range for gourmet cooking. European soft-close doors and drawers round out the many detail-oriented perks.
Bedrooms offer earth-toned high-quality carpets and large closets with storage spaces (including a linen closet) make smart use of each home’s layout.
To schedule a tour of The Reeve, connect with the project’s sales team at Royal LePage Coast Capital (James Liu, Scott Munro, and Alli Munro) by calling 250-477-5353 or toll-free at 1-800-461-5353. You can also view The Reeve’s website here. C
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