Abstract Developments Looks to Help Victoria’s Red Hot Rental Market

 

 

Victoria apartments, construction, rentals

 

Abstract Developments recently received approval to construct a five storey residential/commercial mixed-use building located in the Uptown area near Douglas Avenue.

Originally planned as a condominium development, the Abstract Developments team has decided instead to build the project as a purpose built rental property. With commercial space and 95 residences; this development will help provide much needed relief to Victoria’s red hot rental market.

“The neighbourhood has been undergoing a revival and it needs to continue to occur,” said Mayor Richard Atwell in lending his support to the proposed development.

 

Victoria apartments, construction, rentals

 

The development is located close to transit routes on the Douglas Corridor, direct routes to UVIC and the Galloping Goose cycling trail. To help support alternative transportation and reduce vehicle impacts, Abstract has committed to providing 150 secure bicycle parking spots.

Residences will start at $800 a month, below the $850 affordability limit for the Victoria area identified by CMHC.

Abstract Developments is excited to bring this mixed-used community to the area.

For more information please contact info@abstractdevelopments.com.