The Grand and Fir
GT Mann Contracting is one of Victoria's largest developers with a portfolio of award-winning projects built across the island. The developer has 14 years of significant real estate development experience, and The Grand and Fir is its eighth multi-family project.
Unique opportunity to own with just 2.5% due at signing and another 2.5% in 12 months (5% total).
Building anticipated to complete late 2025/early 2026.
The Grand and Fir is a 5-storey wood frame building comprised of just 82 units located in Victoria's View Royal neighbourhood, just a 10-minute drive from Downtown Victoria (20 minute drive to University of Victoria).
The building sits adjacent to the oceanfront Portage Park and Thetis Cove, offering residents a mix of recreational amenities within walking distance.
The property is situated in a highly walkable neighbourhood featuring shops, restaurants and other everyday amenities.
"With the oceanfront Portage Park at Thetis Cove and a children’s playground at your doorstep, the highly rated Four Mile brewpub steps away, and a cycling trail that connects downtown Victoria, CFB Esquimalt, the Galloping Goose and Lochside trails adjacent to Portage Park, you’ll be well connected locally and to the entire Capital Region,” Rice says, adding that “residents will also benefit from BC Transit bus routes 14 and 46 serving downtown Victoria, Langford, Victoria General and Jubilee hospitals, CFB Esquimalt and post-secondary institutions like UVic and Camosun College.”
- Mark Rice (Coldwell Banker Oceanside Real Estate)
Since the developer has already secured construction financing, and is not held to obtaining any presale requirements, it is able to offer an incredibly low deposit of just 5% split between 2.5% due at signing and 2.5% due in 12 months.
With homes starting at $429,000, that means a first deposit of $10,725 and a second 12-months from now for another $10,725!
The building is scheduled to complete between December 2025 and July 2026.
Building Features:
- Expansive windows and over-height 9' ceilings in the living, dining, and bedroom space.
- Spacious oversized patios (great for the average 300 days of sunshine Victoria gets each year).
- Whirlpool and Kitchen Aid appliance package, including dishwasher and washer/dryer.
- 1 parking stall and 1 storage locker for all homes.
- Residential amenities feature kayaks, paddle boards and electric bicycles.
Project Website: https://thegrandandfir.com/
Development Details
- Total Homes | 82
- Storeys | 5
- Completion Date | Winter 2025/Spring 2026
- Deposit | 5%
- Starting From | $400,000's
- Located just 10 minutes from DT Victoria and within a 10-minute drive to Victoria General Hospital (central location which is great for rental).
- Victoria is one of Canada's tightest and most expensive rental markets with no slowdown in sight: https://www.zumper.com/rent-research/victoria-bc
(Zumper: Average 1 bedroom rent in Victoria) - With 474 SF Jr. 1 bedroom plans starting at $429,900, you're paying nearly $100,000 less compared to Surrey, South Surrey or Langley, but receiving the same amount of rent.
- Ability to purchase condo from one of the region's most reputable developers - great team behind the project.
- A lot more rental development being brought to market than market condo. This is great for long term values as ownership opportunities continue to decrease.
- LOW DEPOSIT STRUCTURE - UNHEARD OF 2.5% INITIAL DEPOSIT!
- Early 2026 completion allows purchases to wait out current high interest rate environment - over 24 months (or 8 quarters of economic data) to get through, giving you ample time to save and prepare.
- Beautifully designed building with timeless architecture. Great for long-term resale value when being compared to other product on the market.
- Demographically speaking, these end-user designed homes will continue to be in great demand moving forward from a variety of buyer groups such as downsizers, empty-nesters and young families seeking more space without forgoing beautiful design.
Great opportunity to purchase a building slated to complete in Spring 2026 (2 years from now), but for the price of recent comparable resales (as of July 2023).
