Are you thinking about Renting instead of Buying?
Victoria has a lot of new rental projects that are starting this year. This is good news for anyone looking to rent instead of purchasing.
There are a lot of new projects that are currently being purposed to the city. Some vacant lots are finally in the approval process with construction starting as early as the end of this year.
A vacant land on the corner of Hillside and Cook which use to be a gas station is now in the works of being turned into a 46 unit apartment complex. 1301 Hillside Ave. This building will offer a mix of Studio, One-bedroom and Two bedrooms suites with parking for up to 25 vehicles.
The 13,400 square foot property has been vacant for over 10 years for remediation and clean up. Once rezoning and the development are approved by the City of Victoria, construction could start as early as next year with completion by 2020-2021.
The push behind this development is by Nvision Properties which has multiple rental developments throughout the Capital Region. In addition, Nvision Properties is also pushing to develop another six-story, 78-unit building at the corner of Shelbourne st and McKenzie Ave in Saanich. Also on land that was formerly occupied by a gas station. This could be underway by next year.
On the south side of Saanich, Nvsion has already begun construction on 433 Boleskine Rd, a five-story rental building comprised of 95 units. Occupancy is expected by early-to-mid 2019.
Nvison Properties is just one of the property development companies that are pushing to build more rental developments.
Click the link below to get a list of all new rental developments happening in Victoria.