Tenants are moving into the Crossing at Belmont, a 156-unit Langford rental development created as part of the Belmont masterplan community. (Marcos Riano Photography)

Rent-to-own project welcomes first tenants in Langford

Crossing at Belmont is part of a rent-to-own program subsidized by the City of Langford

Tenants are now moving into the West Shore development offering one of Vancouver Island’s first-ever rent-to-own programs.

Langford’s Crossing at Belmont (955 Reunion Ave.) welcomed its first tenants Wednesday, with residents moving into the collection of 156 rental homes, all within a 24-acre master-planned community featuring condominiums, townhomes and rental apartments, as well as 160,000-square-feet of retail and commercial shops in Belmont Market.

RELATED: New rent-to-own units attracting attention in Langford

“With tenants moving in, the Belmont community is really taking shape,” says a statement from Dave Craig, president of Devon Properties. “We are well on our way to reaching capacity and are seeing new retail units added every week, further making this the spot to live in the West Shore.”

Through MyBelmont’s rental rewards program, qualified tenants have the opportunity to use a portion of their rent – up to 25 per cent – to offset the cost of purchasing a Belmont Residences’ condo in the future. Earlier this year, the City of Langford supported and partially funded the initiative, offering a $5,000 subsidy to developer Ledcor for each rent-to-own deal made with residents.

RELATED: Subsidies for 156-unit apartment in Belmont Residences with rent-to-own credit options meets Langford council approval

“Langford will try to find a way to work with the people that are developing out here as we have always done and transition them into attainable and affordable housing,” Langford mayor Stew Young told Black Press Media in April.

Belmont Residences West and East are the next projects coming in the masterplan, to be completed in spring 2020 and spring 2022.



nina.grossman@blackpress.ca

Follow us on Instagram
Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Island teen climber seizes last opportunity to qualify in 2020 Olympic games

Brennan Doyle, 16, heads to L.A. for Pan American Climbing Championships

Folk-roots duo play Metchosin’s music coffee house

Event takes place at 4430 Happy Valley Rd. from 7 to 9 p.m. on Saturday, Feb. 22

PHOTOS: BC Children’s lottery offers luxury downtown Victoria home as a prize

The Choices Lotto has luxury homes across the province

SD62 asks Colwood to help fund crossing guard at Wishart Elementary

‘We’re just overly congested,’ says PAC president

University of Victoria profs take home prestigious national teaching award

Brent Mainprize and Edōsdi–Judy Thompson recognized as a 2020 3M National Teaching Fellows

VIDEO: Alleged shoplifter caught on camera at Sidney boutique

Staff at Cameron Rose Gifts seek the public’s help locating woman

Cheapest in B.C.: Penticton gas prices dip below $1 per litre

Two stores in Penticton have gas below a dollar.

VIDEO: Outpouring of worldwide support for bullied Australian boy

Australian actor Hugh Jackman said ‘you are stronger than you know, mate’

‘A horror show:’ Ex-employee shares experience at problematic Chilliwack seniors’ home

Workers are paid below industry standard at all Retirement Concepts facilities

Forest industry protests northern B.C. caribou protection deal

B.C. Mining Association supports federal-Indigenous plan

Youth-led report calls on B.C. government to create plan to end youth homelessness

There are no dedicated programs for youth homelessness at federal, provincial level, report says

UPDATE: Lockdown lifted at Nanaimo high school following threats

Nearby elementary school was in hold-and-secure

Trudeau: Time for blockades to end and Indigenous leaders to work with government

Prime minister says situation in Coastal GasLink pipeline dispute is ‘unacceptable and untenable’

Greater Victoria Crime Stoppers wanted list for the week of Feb. 18

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

Most Read