Starlight Investments is looking to develop more multi-family rental housing on Vancouver Island after achieving a significant milestone with The District project in Langford, B.C.

“We are at a time where national housing starts are under pressure,” said David Woo, Starlight’s vice-president of development for Western Canada, in an interview with Connect. “Bringing these projects online now is critical in maintaining that market momentum.”

Starlight’s milestone comprised the openings of the first two residential buildings at The District, a new purpose-built rental community.

The buildings — The Gallery and The Exchange — have added 256 rental homes to the rapidly growing Island community. Once complete, The District will contain 597 suites across four apartment buildings.

Langford is part of the Greater Victoria, B.C., region, which is a smaller estate market. But Starlight has a different perspective on it.

“We don’t view it as a smaller market, but rather as a collection of high- growth and high-opportunity communities with very strong fundamentals,” said Woo. “The Greater Victoria Area and the West Shore, [a rapidly growing suburban region surrounding] have a high quality of life, strong employment base and significant undersupply of purpose-built rental housing.

“There’s a real opportunity there. And then there’s also the demand for professionally managed housing. It’s just as urgent as it is in Vancouver and Toronto from that perspective.”

The other two buildings at The District are branded as The Hub and The Foundry.

“We’re making really good progress on the other two buildings, and we anticipate both buildings to be completed some time this year, probably later in the year,” said Woo. “This will bring the full vision of the project to life. That will also complete the shared green space and bring online the full suite of amenities that are available and make it really a truly integrated neighbourhood.”

Most of Starlight’s developments are infill projects at sites that the company owns, but The District is an exception to that rule.

“We saw a unique opportunity to create a complete community rather than just doing like a single standalone building,” said Woo. “We also saw it as an opportunity to set a new standard for a walkable transit-connected neighborhood and support the way that people want to live today.”

Consequently, The District project is designed as a master-planned neighbourhood combining rental apartments, amenities, green space and future commercial uses within a walkable, transit-connected area.

“We’ve seen great success with infill projects across Canada, such as The Lively in North Vancouver and across Ontario,” said Woo. “The Island offers a unique opportunity for both infill and masterplanned, greenfield developments such as The District.

“So, we have a bit more flexibility on the Island to do that, and that’s pretty exciting.”

The District also allows for a blending of high-quality residences, wellness offerings and an opportunity for tenants to work from home if they wish, he added.

Suites at The District include studio, one- and two-bedroom layouts with private balconies or patios, in-suite laundry, air conditioning and energy-efficient appliances. Buildings also feature smart home technology such as smart thermostats and keyless entry.

Once the community is complete, residents will have access to various amenities, including fitness and wellness spaces, co-working areas, social lounges and rooftop terraces.

The development is located near Florence Lake and within easy access of shops and services in Langford and the West Shore, including Belmont Market and Westshore Town Centre, with downtown Victoria about 20 minutes away.

The District is part of Starlight’s much broader commitment to the Island, said Woo. In addition to The District, Starlight is developing the three-phase Harris Green Village apartment project near downtown Victoria.

Now under construction, Harris Green Village is slated to comprise 1,500 rental suites. The project will feature about 100,000 square feet of conventional commercial and retail space and a half-acre public open space, along with community-oriented amenities that include landscaped courtyards, rooftop social spaces, outdoor barbeque and dining areas, children’s play areas, dog runs, lounges, gyms and fitness studios.

Harris Green Village also provides convenient access to public transit, major highways and an abundance of shops, restaurants, trails and the waterfront, Starlight notes on the company’s website.

Over the past year, Starlight has completed more than 500 new rental homes across the Island. But the apartment specialist’s future Island development activities have one key caveat.

“While we’re bullish about the Island and its long-term fundamentals, our ability to continue to develop and deliver this scale of housing really depends on predictable collaboration with all levels of government, from the municipality all the way to the provincial government,” he said Woo.

“That will help us navigate some of the industry-wide cost headwinds that we’re facing right now.”

Woo’s comments reflect the company’s attitude towards all of its projects. If the co-operation can be achieved and costs managed properly, Starlight will look forward to expanding its Island vision further.

“It’s appealing for Starlight to build these complete communities and really move the needle in helping solve the housing crisis,” said Woo.

Toronto-based Starlight owns, develops and manages more than 70,000 multi-residential rental suites and about 7 million square feet of commercial property globally, with approximately $30 billion in assets under management.

Pictured: Starlight’s The District in Langford, B.C.

Image: CNW Group/Starlight Investments