Demand for spacious, eco-friendly urban living brings townhomes back in a big way
Townhomes are back in vogue throughout the capital region as an urban lifestyle with room to grow becomes increasingly popular among local buyers.
"It’s spacious, energy-efficient urban living," said Saira Waters of Modern Real-Estate, adding that "for a young family or a couple looking to downsize a townhome is a perfect bridge between compact condo living and a single family dwelling."
Throughout communities in Victoria's urban core (Esquimalt, Oak Bay, Saanich, Victoria and View Royal) dozens of new-build townhomes are on the market offering multi-level living anywhere from 1,300 to 2,000 square feet. Full-size garages, large patios and well-equipped kitchens round out what are sought after amenities in areas where space for such relative luxuries comes at a premium.
One townhome development in particular, the move-in ready Parkview at the Gorge Waterway on Tillicum Road at the entrance to Gorge Park, stands arguably ahead of the pack with designer layouts and the latest in technology, energy efficiency and building standards within a walkable, established community.
Waters, one of the Parkview project’s REALTORS®, says homes were developed with not only a full assortment of desirable amenities, but also with re-sale value in mind.
"Parkview is likely the most eco-friendly townhome development on the market and for buyers that means big savings on monthly energy bills and an investment that will retain its value. Many buyers are choosing townhomes over traditional houses in order to live a more environmentally-conscious lifestyle without having to sacrifice space or the room to raise a family, and Parkview’s developer has been receptive to this shift," Waters said.
Serving as an example of what is available on the market, the development’s energy saving features include an on-demand gas water heater, in-floor radiant heating that helps maintain a comfortable ambient temperature and an efficient gas stove. Energy Star windows work to retain heat in the cooler months and deflect heat in the warmer months. Every garage also includes an electric vehicle charging station, a first for Vancouver Island. All summed up, monthly utility savings of 75% are easily attainable, according to Parkview developer Large & Co.
Townhomes also offer the convenience of a turn-key lifestyle in a close-knit community of homeowners. And for buyers with travel on the horizon, that’s piece of mind, says Waters.
"You live in a micro community where everyone knows their neighbours, where everyone looks out for one another. And that’s piece of mind knowing you can leave your home and not worry about people snooping around your property."
Pricing for new-build townhomes typically starts in the $500,000 range and offers exceptional value for the money. At Parkview available homes start at just under $500,000 and rise to just under $600,000. For the money, says Waters, the per-square-foot value is exceptional when compared to condos. And of particular importance to young couples, when it comes time to start a family there is no pressure to relocate to a larger home.
The popularity of townhomes has not gone unnoticed by developers of purpose built rental projects who traditionally fill ground floor spaces with commercial units. But that’s changing. Two towers at the Hudson District in downtown Victoria, Hudson Walk phases one and two, will include 18 ground oriented townhomes. In Vic West at the Dockside Green development an affordable rental housing component will also offer 10 townhomes.
"Urban living has its benefits. From walking to nearby amenities to using an established transit network, centrally located townhomes can make a profound difference in lifestyle without requiring buyers to give up what makes traditional single family dwellings so desirable. And if you choose a townhome with energy savings built right in, you’re all set," Waters said.
-MIKE KOZAKOWSKI, CITIFIED.CA