The latest phase of Kettle Creek Station is a muddy work in progress, a contrast to small manicured lawns that hem in polished rows of houses in one of LangfordB次元官网网址檚 newest neighbourhoods.
In the past year and a half, the development coined as B次元官网网址渃ondos on the groundB次元官网网址� ignored the recession and barreled forward with an experiment to offer cottage-style homes as small as 400 square feet.
Nobody has bit on a house that size, but 107 houses from 650 to 950 square feet are populating the ever-growing Kettle Creek Station neighbourhood. A handful of lots remain unsold and 42 more are being prepped in the next phase.
B次元官网网址淭his project has worked out even better than I hoped. They are cute little places. ItB次元官网网址檚 small lot, but it doesnB次元官网网址檛 feel closed in,B次元官网网址� said Les Bjola, president of Turner Lane Developments, who is developing Kettle Creek Station with Vance Walle. B次元官网网址淥ur goal was selling six homes per month. WeB次元官网网址檙e averaging 6-1/4, so we are ahead of target slightly.B次元官网网址�
People have a hard time conceptualizing the 400 square foot micro-homes, Bjola said, so he plans to build a couple in the next phase.
B次元官网网址淏ecause itB次元官网网址檚 a new product, people canB次元官网网址檛 wrap their minds around it, they donB次元官网网址檛 realize how roomy they are,B次元官网网址� he said. B次元官网网址淚tB次元官网网址檚 one of those things you have to show people.B次元官网网址�
About 30 home buyers have plugged into geothermal heating and cooling, an option for some of the lots in the development. Houses go from $269,000 to $420,000, but in a recovering economy, paying $20,000 extra is often too much for buyers, despite the long-term incentive.
B次元官网网址淚t tells you that people are struggling. An extra $20,000 is expensive,B次元官网网址� he said. B次元官网网址淏ut geothermal is so effective in small homes. Once itB次元官网网址檚 in they arenB次元官网网址檛 paying much in utilities.B次元官网网址�
Early this year, Bjola expects to start the projectB次元官网网址檚 first of three six-storey condominium buildings, which will also act as the commercial hub of the area. The first steel and concrete building is planned as 54 units, part of about 200 units total between the buildings.
B次元官网网址淲e believe the market is there,B次元官网网址� he said. B次元官网网址淵ou have to find that magic match between parking, structure and cost. Because itB次元官网网址檚 broken into three buildings we can do it. If it was a 200-unit building, weB次元官网网址檇 never do it.B次元官网网址�
Next door to Kettle Creek on a four hectare wedge near the E&N rail line, Turner Lane Developments plans to break ground early this year on Landing at Langford Lake B次元官网网址� a project now split between single family lots, townhomes and condominium buildings. When zoning was passed a few years ago, the Landing was initially envisioned as all condominium units.
Bjola is now looking to build 17 house lots, 36 townhouses and possibly four buildings going up to 12 storeys, although thatB次元官网网址檚 not set in stone. If the market is strong enough, the towers would still be five years out. A strip of treed parkland abutting the lake will remain in place, setting the development back from water.
B次元官网网址淲eB次元官网网址檙e designing for four buildings, but that can change,B次元官网网址� Bjola said. B次元官网网址淲eB次元官网网址檙e thinking five years from now, which is a long time. The world can change five times in five years.B次元官网网址�
Bjola said trying to gauge the Greater Victoria real estate market takes a lot of research and listening to what price points and features buyers are looking for. For Kettle Creek, the developers build systematically and donB次元官网网址檛 build before houses are sold.
B次元官网网址淭his is a tough business. You have to have a good team that knows what they are doing,B次元官网网址� Bjola said. B次元官网网址淵ou also have to have a bank that believes in you.B次元官网网址�
editor@goldstreamgazette.com
