View Royal's Grand & Fir condo pre-sale offering 'unheard of' 2.5% deposit structure on 1BR, 2BR and 3BR homes
Mike Kozakowski, Citified.ca
Published July 20, 2023
The Capital Region’s newest condominium pre-sale coming to a View Royal waterfront park is shaking up the local real-estate market through a down payment structure never before offered in Greater Victoria.
The Grand & Fir (see website
), comprised of 82 suites in one-bedroom, two-bedroom and three-bedroom configurations, has launched its sales campaign with a market-leading 2.5% initial down payment, and a final 2.5% top-up twelve months thereafter.
The new home project, says Grand & Fir’s marketing lead and Victoria realtor Mark Rice, caters to today’s economy both in terms of helping first-time buyers enter the market, and gives down-sizers transitioning into condominium living the option of avoiding drawing down investments to pay a traditional 15% deposit prior to occupancy.
“We are in a unique position to present purchasers a 5% deposit structure split as two payments at the start and end of a 12 month period, thanks to having already secured construction financing, and not being tethered to pre-sales requirements or a down payment structure stipulating an up-front 15% commitment,” said Rice, speaking to developer GT Mann Contracting’s bullish sales campaign launched this month.
With occupancy slated for late 2025 or early 2026, purchasers will have the flexibility of planning around their move-in date two-and-half years from now, allowing first-time buyers to save up for a larger down payment, and downsizers to liquidate existing investments or sell their current residence with plenty of time to spare.
|Grand and Fir's location adjacent to View Royal's oceanfront Portage Park is comprised of 82 one, two and three-bedroom condominiums along Island Highway near View Royal Avenue. GT Mann Contracting |
Situated between View Royal Avenue and Portage Park along the E&N Rail Trail cycling corridor and transit routes connecting both downtown Victoria and the West Shore, Grand & Fir’s location is ideal from a walkability, cycling and alternative transportation perspective. And for purchasers needing a vehicle, EV-ready parking and bike stalls will be a standard amenity for every suite.
“Pre-wired EV parking is included across all 82 homes, however, we can’t emphasize enough how Grand & Fir’s location is superb for walkable amenities at nearby shops and an upcoming boutique market, car-lite transportation options and outdoor recreation. With the oceanfront Portage Park at Thetis Cove and a children’s playground at your doorstep, the highly rated Four Mile brewpub steps away, and a cycling trail that connects downtown Victoria, CFB Esquimalt, the Galloping Goose and Lochside trails adjacent to Portage Park, you’ll be well connected locally and to the entire Capital Region,” Rice says, adding that “residents will also benefit from BC Transit bus routes 14 and 46 serving downtown Victoria, Langford, Victoria General and Jubilee hospitals, CFB Esquimalt and post-secondary institutions like UVic and Camosun College.”
Preliminary site work for the five-storey build – envisioned by Urban West Architecture with interiors by Spaciz Design – will start this fall at the hands of GT Mann Contracting, one of Victoria’s largest builders with a roster of residential developments like Sooke’s Park View
rental apartments, Esquimalt’s Harbour Landing
condominiums, and both the Constance Apartments and Admirals Residences in Esquimalt. GT Mann’s upcoming project pipeline will deliver high density housing to Victoria’s Rockland Avenue, the Mckenzie Avenue corridor in Saanich and on East Saanich Road in Central Saanich.
In terms of finishings and materials, Grand & Fir’s up-market, nature-inspired layouts present purchasers the choice of a ‘light’ or ‘medium’ colour scheme that accentuates the mill work and quartz countertops, and desirable vinyl flooring underfoot or a Signature Brushed engineered hardwood upgrade, both atop sound-reducing underlay.
Top-brand kitchen appliance packages (varied between floorplans) paired with large custom eat-up kitchen islands combine to create functional gourmet focal points in every home, while ample storage space is provided in each layout to take advantage of practical efficiencies, including in-home stacked washers and dryers.
|A rendering of Grand and Fir, as seen from the E&N Rail Trail cycling corridor connecting the West Shore with downtown Victoria via View Royal's Portage Park. GT Mann Contracting |
Baths are adorned with opulent porcelain flooring complementing the rich millwork; deep soaker tubs and showers are porcelain-tiled.
Expansive windows complement every layout’s nine-foot over-height ceilings to create airy, welcoming rooms, and residences include spacious oversized exterior patios perfect for taking full advantage of Victoria’s mild year-round climate.
The building’s resident amenities feature kayaks, paddle boards and electric bicycles to take full advantage of nearby beaches and the E&N cycling trail, plus an outdoor private area with seating and a pathway amid a large landscaped garden setting. Ample visitor parking is available, and residents will enjoy secure bicycle parking and a storage locker.
One-bedroom homes are priced from the low $400,000s, two-bedroom homes from $699,900 and three-bedrooms from $749,900. Available layouts range from just under 500 square feet to over 1,100 square feet. Rice confirms some 40% of the residences are priced under $500,000, and approximately 70% are priced under $600,000.
To learn more about Grand & Fir, view the project’s website here
, or visit Coldwell Banker’s Grand & Fir presentation centre, by appointment-only, at 3194 Douglas Street in Victoria. C
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