A Victoria homeowner says buying his first home at Haven felt like “a no-brainer”—and not just because he loved the location. Haven is a newly developed condominium designed to do something rare in Victoria: give first-time buyers a realistic path into ownership without sacrificing location or quality.
The property
- Type: Condominium
- Neighbourhood: Fernwood
- Beds: 1
- Baths: 1
- Year Built: 2024
- Parking: Garage, Underground
- Taxes: $1,475
- Maintenance fees: $285.70
- Sold price: $490,000
The six-storey wood-frame development along Johnston Street offers 104 homes, ranging from studios to three-bedroom units. Residents have easy access to supermarkets and numerous eateries in a quiet neighbourhood while still remaining a five-minute drive away from Downtown Victoria.
Haven’s units are fitted with a pet- and spill-resilient vinyl flooring and flat-panel interior doors with satin chrome levers for an added touch of sleekness. Moen faucets can be found in both the kitchen and bathroom sinks, with the kitchen featuring an under mount, stainless steel sink with a chrome dual-spray, pull-down faucet. Additional amenities in the building include a central courtyard with a children’s play area, a dog wash with both hot and cold water supply as well as an exclusive residents-only electric bike share program.
Castello notes that Haven’s design and mix of residents helped create a genuine community, citing the shared spaces and a building group chat as the main ways for residents to connect.
“It feels like we all kind of know each other,” he says. “Everyone in the building as far as I know are all kind of in the same stage of their lives, so it’s really cool to be a part of this community of young homeowners.”
The financial model
Chard’s Chief Operating Officer, Steve Vernon, states that the project was built around attainable ownership and the financing model was a major part of that promise. To do so, Chard developed Haven in partnership with BC Housing’s Affordable Homeownership Program, where the buyer puts in 10 per cent and BC Housing matches it.
For David Castello, that structure made the difference. He purchased a one-bed, one-bath unit during the 2021 pre-sale for $490,000, after realizing the project checked all of his boxes for his first home. The project’s financial model gave him an entry point into ownership that would have otherwise been out of reach. “Without that extra assistance from BC Housing, I wouldn’t have been able to purchase a home for a while longer,” he says.
The big picture
Chard has developed in the Victoria market for many years, ranging from rental housing to luxury properties. For Haven, Chard aimed to develop a property for middle-class earners and did so with their partnership with BC Housing. Most of Haven’s units were sold during the pre-sale program and are now completely sold out, signalling the effectiveness of its housing affordability program.
Although Victoria’s real estate market is also experiencing a slowdown, Vernon notes that Victoria’s market does not hit the same highs and lows of Vancouver and Haven’s selling rate is typical for the market.
“There was more of a challenge at the beginning to educate real estate agents and mortgage lenders on what the program meant,” he says. “We had to do that to help smooth through the process, so it was a little more challenging at the beginning from a typical presale offering.”
Given the success of Haven, Vernon states that Chard hopes to continue offering programs like these for future developments.
