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Orono I & II are two premier purpose-built rental apartment buildings in British Columbia’s fastest growing municipality – Langford, in Greater Victoria. A truly unique opportunity to invest.

SELL TO INSTITUTION

Target Annualized Returns 21%

SELL AS CONDOMINIUMS

Target Annualized Returns 24%

Invest in BC's Fastest Growing Municipality

Project Update

COPYRIGHT © 2017. Western Canadian Properties Group

3 Possible Exit Scenarios

HOLD AS REVENUE PROPERTY/SELL

Target Annualized Returns 20%

A Great Opportunity

Orono is ideally located at the corner of Jacklin Road and Orono Avenue, within the boundary of Langford’s Pedestrian Commercial Area, and just a few blocks from Walmart, and the Westshore Town Centre. 

Orono is also within both the Town Centre and City Centre of Langford, and within easy walking distance to the Galloping Goose Regional Trail and the local bus exchange. In fact, there is a bus stop in front of and across from Orono I. Jacklin Road is part of the route for Langford’s popular trolley service. 

The immediate neighbourhood around Orono is comprised of condominiums, single family homes, and some retail and light industrial properties. The City of Langford’s Town Hall is just two blocks north, up Jacklin and around the corner on Goldstream. Development in the Core of Langford has been particularly robust in recent years, with new multi-family buildings being developed to cater to the ever-increasing local population.

Neighborhood

Call: 844-874-9274 (Press 2 to connect to an agent.) 
Email: info@wcpg.ca

We have received our Building Permit for Foundation and the crew is working hard excavating the property to stay on schedule for foundation to start in April 2018. 

We have submitted for Building Permit on the 2 buildings in January. We expect to receive our Building Permits in October 2018.

Below are some progress pictures from the past few weeks. Follow our progress here.

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ORONO

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Western Canadian Properties Group IX Limited Partnership is proud to offer investors an opportunity to invest in a cash-flowing property in one of Canada’s hottest real estate markets. The Partnership will acquire and own Orono I, a 45-unit apartment building located in Langford, British Columbia, which is 14 km west of Victoria, British Columbia.

The Orono lands, comprised of 4 separate single family lots, are being acquired off-market. The lots will be consolidated into one lot, rezoned for higher density, and then subdivided into 2 high density lots, one of which will be owned by the Partnership. Western Canadian Construction Company will build and sell to the Partnership, on a fixed price basis, the 45-unit apartment building.

Features:

  • In Suite Laundry
  • 5 Appliance Package
  • Centralized Tankless Hot Water
  • Individual Heat pump/Air Conditioning
  • Pet Friendly, with restrictions
  • Keyless Entry
  • 100% Smoke Free
  • Video Security
  • Smart Panels (Media Panels)
  • 9’ Ceilings
  • In Suite Storage
  • Underground Parking
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Langford, Greater Victoria is British Columbia’s fastest growing municipality with 30% growth in population from 2011-2016. The population is projected to more than double from 2001-2026: a leap from 18,840 (2001) to an estimated 42,100 (2026) (City of Langford, 2017).

Langford has an abundance of financially qualified tenants. Median household income in Langford was $73,775 in 2005 compared to the Victoria Capital Region’s median of $70,153. Langford also boasts a much higher labour force participation rate of 74% than the rest of the Capital Regional District which sits at only 65% (City of Langford Community Stats, 2017).  Higher income and labour force participation creates large numbers of well-qualified, high-earning tenants.

Attracting the best tenants demands a convenient location. Langford Towers has a Walkscore of 78, which is considered to be ‘very walkable’.  Area grocery stores include Walmart, Real Canadian Superstore, Fairway Market, Western Foods and more. Schools are also within walking distance. The exceptional location of Langford Towers ensures your building will stay full with strong annual revenue.

As a result of rental demographics and ideal location, Langford Towers will provide a profitable multifamily investment for decades to come.

Market Update

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ORONO