(Map courtesy of Ocean Grove)

Two Waters project to bring 700 town homes, condos to Colwood

Relevant Properties forging ahead with project

Hundreds of town homes and condominiums are expected to come online in Colwood over the next several years as part of a development that aims to provide a variety of housing options for families on the West Shore.

The Two Waters development comprises of just over 700 townhouses and condominiums to be built on a 26-acre site nestled between Royal Roads University, overlooking the Esquimalt Lagoon.

“Our main focus in the beginning stages is the town homes, because that’s what we believe the market is in strong demand for,” said Peter Tioco, a managing director of Relevant Properties that purchased the property from the previous developer last year.

“A lot of the town homes or homes will have views of the riparian area and sweeping panoramic views of the Lagoon and the sea. It’s providing a lifestyle with a quality home.”

RELATED: Ocean Grove development moves forward

Phase one of the project includes the construction of 61 row and stacked town homes, ranging from 870 to 940 square feet.

There will be 31 two-bedroom units, as well as 30 three-bedroom units.

Pre-construction work on the site, which includes installing utilities and repaving roads, will start in September.

Tioco said the company is currently waiting on the approval of a development permit from the City of Colwood, which they hope to receive by the end of the month. Following that, the company will apply for a building permit, which they hope to have approved by winter. If everything goes according to plan, they hope to have shovels in the ground by November or December.

In the meantime, Relevant Properties has also signed a five-year agreement to lease the municipal-owned building at 170 Goldfinch Rd., near Esquimalt Lagoon, which will be used as a sales centre. The centre is currently undergoing improvements and is expected to open in October. Pre-sales will begin shortly after.

Phase two of the project, which includes the construction of 68 town homes, and phase three, which includes another 60 town homes, are expected to be rolled out in a staggered approach over the next three to four years. The entire project is expected to be complete in roughly eight years.

The development also includes what Tioco calls a “green network,” including a man-made stream that will run down the middle of the development linking to Esquimalt Lagoon, green corridors, and a trail network.

“It’s all about the lifestyle of the demographics and what we believe they’re looking for, not just in terms of the type of homes, but the quality of homes the community would like to live in,” Tioco said.

“It’s a very exciting master plan community to open a much-needed diverse mix of housing types in the area … We believe that Esquimalt Lagoon and Colwood is perfect for investment.”


Like us on Facebook and follow us on Twitter

kendra.wong@goldstreamgazette.com

Just Posted

Christian minister accused of transphobia draws small audience, protesters in Sidney

Art Lucier is ‘100 per cent’ sure would-be audience stayed away because of perceived controversy

Victoria women’s program in critical need of household items for women

Everything from dining sets to beds is needed to keep their programs running

Confused semi driver drives wrong way on Malahat, backs up morning traffic in both directions

Stalled, unoccupied car also affecting morning commute near McKenzie Avenue

CPR month promotes hands-on approach to life-saving measure

PulsePoint Respond App alerts people if there is a victim of a cardiac arrest within 400 metres

GoodLife Fitness runs all the way to $2 million for local charities

Broadmead Care Society top fundraiser this year

VIDEO: Don Cherry says he was fired, not sorry for ‘Coach’s Corner’ poppy rant

Cherry denies he was singling out visible minorities with his comments

Greater Victoria 2019 holiday craft fair roundup

Get a jump on your holiday shopping

Disney Plus streaming service hits Canada with tech hurdles

Service costs $8.99 per month, or $89.99 per year, in Canada

Trudeau’s opponents: One gives him an earful, another seeks common ground

PM meets with Conservative leader Andrew Scheer and Saskatchewan Premier Scott Moe

Rona’s ‘truly Canadian’ ads are inaccurate, watchdog says

Ads Standards points out U.S.-based Lowe’s acquired Rona in 2016

Brian Burke considered favourite to replace Don Cherry

Brian Burke is the 5-4 pick to be the full-time replacement next season

Major donor Peter Allard takes UBC to court to get his name on all law degrees

Philanthropist claims school not adhering to 2014 agreement for his $30-million donation

Report predicts drug resistance likely to kill 400,000 Canadians by 2050

This increase is expected to cost Canada 396,000 lives, $120 billion in hospital expenses

Most Read