The Baby Boomer generation is a massive group that is now in the midst of retirement. The youngest Baby Boomers turned 50 in 2014 and oldest turned 65 back in 2011. A number of Boomers built or bought houses for their families in Saanich Peninsula areas such as Dean Park, Ardmore and Lands End Road back in the 1970s and 1980s. At the time, ideal homes for young families in those areas were often multi-level, sizeable (perhaps 3,500 square feet) and on generous lots (say ¼ acre) with extensive landscaping and gardens.
As Baby Boomers age and their children move away, many no longer have the desire or the capability to maintain and move around in their large, multi-level homes with substantial yards. As a result, many are moving to smaller homes that are single level, low maintenance and close to amenities and services. Often times, these “downsizers” prefer to find suitable homes that allow them to remain close to their community.
Sidney is a lively, seaside town that serves as a commercial hub for many Saanich Peninsula residents. The town has a very compact downtown that offers a wide variety of high quality shopping, dining and services options, as well as community amenities and activities. With its many conveniences, small town ambiance, flat topography and world class waterfront, Sidney’s downtown offers a very attractive option for downsizers.
Sidney-based developer, Marker Group, has a track record of successful, downtown Sidney developments geared towards downsizers including The Pier and Seaport West. Marker Group has taken the knowledge accumulated from these projects and applied it to the design of its newest downtown Sidney residential development, The Meridian Residences.
Located on 9818 Third St. (on the former McLarty’s Gifts & Furnishings property), steps away from Beacon Ave. and the downtown waterfront, The Meridian Residences contains 24, one and two bedroom suites and one live/work space in a five storey building. Floor plans are designed to be space efficient, yet have enough room to accommodate the needs of a purchaser coming from a large single family home.
In order to offer strong value, Marker focused on high quality finishes, such as quartz countertops, stranded bamboo flooring and a desirable appliance package as opposed to a wide variety of floor plans. This philosophy will allow the developer to build the project cost effectively and offer the suites at attractive pricing. The market has responded very well to this offering. Presales started in late March and have been very successful, with 19 of the 25 units already sold.
