Joyce Anne Mmbando and fiancé Declan Midwood stand in front the building site that will eventually be their home at the Vivid at the Yates. The young couple, along with Midwood’s brother Caelan, have bought units in the development, which is targeted for completion sometime in early 2021. Don Descoteau/Victoria News

HOMEFINDER: Victoria condo project offers investment opportunity

Below market prices at Vivid at The Yates appealed to young Victoria couple

It’s true that for some buyers, the below-market prices on offer for units in the Vivid condominium project just getting started on Yates Street have provided a good incentive to get into home ownership in Victoria.

For brothers Declan and Caelan Midwood, current roommates in downtown Victoria whose family have bought units in other Chard Development buildings, the situation presented a medium-term investment opportunity. Not to mention a central, handy place to live.

Declan, 25, is an articling law student working for a nearby Victoria firm, looked at comparable builds and liked the combination of quality and value the project offered. While it isn’t projected to be completed until early 2021, he likes the potential for it to gain in value between now and then.

“[We found] that what they had assessed these units at was very conservative,” he said. He added that when the two-year covenant ends mandating that owners live in Vivid units for a minimum two years, it should provide a nice nest egg. “For that and a few other tax reasons, it was very attractive. It looked like a lovely place to live and a desirable place to be. It’s a very good investment where you’re almost guaranteed a high rate of return.”

He and fiancée Joyce Anne Mmbando plan to move into their second-floor suite together, unlike Caelan, who’ll be on a higher floor.

Currently an SFU engineering student doing a co-op term with a local engineering firm, Caelan says he’s been abroad for much of the last number of years with his family and is looking forward to creating a home for himself in Victoria, which he sees as a hub of activity in his line of study.

“After six years of schooling and not having a nice, consistent place to live – it’s going to be nice to know I don’t have to move every six months,” he said. “Nowadays it’s really good to lock down a position and be able to say to an employer, hey “I’m local, I’m not going anywhere.”

For more details on Vivid, visit

Just Posted

Victoria airport ready to comply with new safety regualtions

Transport Canada expected to make mandatory new runway buffer zones

B.C. Transit to reduce service for spring

Route changes come in to effect April 9

Victoria painter splashes some colour on a dreary situation

Six-week long James Bay construction project gives Teresa Waclawik an impromptu canvas

Oak Bay loses longtime volunteer

Bob Carter died March 18 at the age of 90

Why are these Saanich lots still sitting vacant?

Mayfair Lanes lot still empty, 12 years later

Student learns the ropes at Oak Bay fire in hands-on experience

Local department crafts four-day work experience program for Reynolds student

B.C. emergency alert system being tested Wednesday

Alarm tone and message will play on TV and radio

BC Conservatives pumped by poll results

Surge in popularity has BC party picturing elected representatives in Victoria

Vancouver Island university develops program to help kids cope with overdose crisis

A child and youth care professor worked with students to develop projects focused on children, families and communities dealing with opioids.

Liberals tried pilot project with Facebook data whistleblower in 2016: source

Cambridge Analytica has been accused of improperly using information from more than 50 million Facebook accounts

No opting out: Canadians to get emergency alerts on their phones soon

Canada’s wireless providers are preparing for a looming update to the National Public Alerting System

Just For Laughs sold to Howie Mandel

Just For Laughs sold to Howie Mandel and U.S. company ICM Partners

Texas bombing suspect blows himself up as SWAT moves in

The suspect in a spate of bombing attacks that have terrorized Austin over the past month blew himself up with an explosive device as authorities closed in

Witnesses: Boko Haram returns Nigerian kidnapped schoolgirls

Witnesses say Boko Haram militants have returned an unknown number of the 110 girls who were abducted from their Nigeria school a month ago.

Most Read