Lloyd Wansbrough

HOMEFINDER: Developers look to boost rental market

Apartments the new condo buildings for some West Shore builders

The still-expanding population of the West Shore, led by a province-leading growth rate in Langford, is driving the creation of services and amenities in the area.

While the market for single-family homes remains strong, not everyone is quite ready to plonk down their cash and take on a mortgage.

Certain developers on the West Shore are well aware of that and as such, are constructing rental buildings to take up the slack among newcomers to the area.

Westridge Landing, the Wansbrough family’s 3.86-acre property at Wale and Wilfert roads in Colwood, has been developed in various phases since 2009 when Lee Valley Tools and Eagle Rise Animal Hospital opened up. The current phase is even more ambitious, with a 63-unit rental building called Legacy well underway and a Holiday Inn Express next door also in the works.

Lloyd Wansbrough, vice-president of construction and tenant relations for Westridge, says building condos on the sprawling site has been “in the background” for a while, but the idea was shot down when discussed by family members.

“I think in building condos, you stick your neck out so much,” he says. “I think we’re a unique company in that we own the land, we’ve been here so long and there’s lots of equity here.”

Creating one-, two- and three-bedroom rental units on top of the ground-floor commercial space made more sense given their company philosophy, he says.

“It’s more in our wheelhouse. We want to protect our property and pass it along to our kids,” he says.

Wansbrough, a renter who doesn’t want a yard and the extra maintenance of an owned home, figures there will always be a mix of renters and homeowners here.

Interestingly, of those who have signed up for suites in the building, many are older adults, he says, pointing to proximity to the Galloping Goose trail, Juan de Fuca rec and seniors’ centres and Western (bus) Exchange as advantages.

Malcolm Hall, president of Langford-based Daxco Developments, has been in the rental building business since 1990. When his six-storey, 51-unit building The Waverly comes on stream this fall at 594 Goldstream Ave. it’ll give his company six purpose-built rental properties. Another is due to break ground next to The Waverly next year.

“Right now it makes sense for people to rent, because property values are falling,” he says, adding the glut of condos for sale here simply makes it unwise to build more.

Unlike many traditional building layouts, Hall’s company continues to include family oriented, three-bedroom suites in his buildings, as well as smaller configurations.

Among other rental projects going up in Langford include a building on Station Road at Jacklin Road and on Hockley Avenue next to the Village Walk West apartments.

West Shore Chamber of Commerce spokesperson Craig Sorochan said the area has seen more rental buildings built since the slowdown in condo sales forced developers to rethink their strategies.

Having more affordable options for people who aren’t able to buy is another way local municipalities can attract people to the area, he said.

“It’s a good fit for people who are commuting out here to work.”



It’s easy to look up suites for rent on the usedvictoria.com’s of the world, but there are professionals available to help find the rental property that fits your needs.

Property management companies such as Brown Brothers, Devon Properties and Proline Management are well-known around Greater Victoria for their work with large apartment buildings.

As well, some companies better-known for providing real estate sales services are also in the property management end of things. Pemberton Holmes and Duttons and Co. are names that come to mind among those that offer a variety of services.

Allowing people with knowledge about the industry help in your search can lead to finding a suite that is right for you and within your budget. For a list of property managers’ websites visit the Victoria Real Estate Board at vreb.org/vreb/rentals.html.



» 1,032 / 1,213 — NEW LISTINGS/TOTAL, JULY 2013


Just Posted

UPDATED: Malahat reopened in both directions following car fire

Drive BC says the road will be closed until approximately 3pm

Police still investigating possible child abduction in Langford

Suspect was a stranger and not a family member

Dog killed in James Bay hit-and-run

Pedestrian narrowly missed by vehicle, VicPD say

Car veers off Pat Bay Highway, into pedestrian path near Sidney

Lone driver of the vehicle escaped with minor injuries after crashing into fence around construction site

VIDEO: New UVic buildings expand student housing by 25 per cent

Over 600 new beds mean off-campus housing freed up for affordable housing for Victoria residents

First ticket sold for Victoria’s second comic con

Guest list is top-secret for the March 22-24 Capital City Comic Con coming 2019

ZYTARUK: You don’t have to wear the ribbon – but look out if you don’t

Demonize and dog-pile. If you disagree with me, you are not only wrong, you are evil. The enemy…

Greater Victoria Crime Stoppers wanted list for the week of Nov. 14

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. Realtor suspended after helping intern forge note about sick grandma

Vancouver real estate agent Jaideep Singh Puri has to pay fine, take ethics course

Offensive Facebook post by Okanagan Conservative riding sparks outrage

Post taken down after Conservative MP in neighbouring riding condemns it and demands removal

Judge rules against ALC on rural B.C. subdivision

The ALC can’t change the definition of an acre, the judge ruled.

John Horgan shrugs off low turnout, change to referendum option

‘No’ proportional representation group says voting should be extended

Two more government pot shops to open in Kamloops

Two private applications are also in the queue to come before city council by the end of the year

2 B.C. men charged after allegedly stealing $1,400 worth of butter

The two men, ages 23 and 25, are facing charges of theft under $5,000, Coquitlam police said

Most Read