Development Update
Squamish is considered a fire-hot real estate market but the demand for housing typically exceeds the available units. Often people have to search for an extended time period to find a home for sale that they can afford. However, that is hopefully going to change soon because a bevy of condos is forecast to come to the region.
Townhouses: Listings are Running Low
In recent years, it is virtually impossible to find a home for under 400k in Squamish. Most available single family residences are reaching the million dollar mark ( crazy!) . Townhouses have remained a popular option for the many young families moving to town. Townhouse buyers can still find places for sale for mid 600k in Soleil and The Breeze. These are in high demand and once they sell out it is looking like their will be a lag in townhouses for Squamish. Most townhouse developments remain a year or more away before the ground will be broken and construction started.
The Future of Developments in Squamish
2 years ago, a 103-acre waterfront parcel was sold by the District of Squamish to the Newport Beach Developments. An agreement was made when the deal was finalized that ensured that the development company would build a waterfront park, public amenities, and housing in the area. The details are still being worked out, but hopefully, there will be even more housing developments on the horizon for Squamish.
The Kingswood Capital Corp. also has plans to break ground on two new housing subdivisions, Scott Crescent and Waterfront Landing. They are located two kilometers south of Squamish. Tentative plans have been made for an apartment complex and additional townhomes in the Scotts Crescent area. On the other 54 acres of Waterfront Landing, they plan to eventually use the land for townhomes and apartments. If everything works out as planned, the two areas will eventually provide 435 homes and 800 homes to the community.
There is little doubt that Squamish is a growing and thriving community where the demand for affordable real estate often exceeds the availability. However, good things are worth waiting for and to live in the pristine B.C. community many people are forced to wait to secure their dream home. However, the building is ramping up in the region and more much-anticipated homes will soon be offered to hungry real estate buyers.
THE LATEST DEVELOPMENT UPDATES
Britannia Beach- Macdonald Developments
In late September, a public forum took place where locals gathered to openly voice their concerns about the new Britannia Beach-Macdonald Developments. Many are concerned about traffic congestion and the influx of fast-food restaurants that typically follow any housing boom. There is also some upset by locals over the flood control costs. At the meeting, the developer gathered feedback and also the possibility of the village containing small businesses that are independently owned.
The Britannia Beach-Macdonald Developments still remain in their infant stages. Floor plans have not yet been released. Prices are expected to hover between $600 to $700k.
The Lauren
Image from www.facebook.com/TheLaurenSquamish
I am sad to report that the Lauren has officially sold out. I know that many would-be buyers will be saddened by the news.
Image from www.amaji.ca
Potential condo buyers will be happy to note that the Amaji continues to have units for sale. As of publication, approximately 30 percent of their homes have sold out. The Amaji is offering one and two bedroom condos that will be located at the 2nd Avenue in downtown Squamish. The central location is ideal. Buyers are encouraged to move quickly before this development sells completely out.
The Vantage
The Vantage has offered a public release in October. Although many units have already sold to people who pre-registered, larger one bedroom units still remain available. Prices hover at around $439k.
Image from www.targethomes.build/breeze
All units in Plan One of the Breeze have sold out but Plan Two still has houses available. These residences are three bedroom floor plans that feature ample square footage. Prices start at around $579k. A deposit will hold a home. The residences should be completed in 1.5 to 2 years.
Soleil
Soleil is located in downtown Squamish. It continues to have units available. Prices start at 600k and they require a 10 percent deposit to hold one of the townhomes.
Cheema Lands
The proposed development of the Cheema lands stills remains in limbo. The community plan states that the developer cannot break ground on the 200-acre housing tract unit the region sustains a population growth of 23.000. The advancement of the development is going to be again debated in December. Landowner Bob Cheema says that if he does not get approval to build then he will shut down the trail system that runs across the land. However, if he is granted the permission to build the much-needed homes then he will leave the trails open to residents and visitors.
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