Eighth Avenue Development Group Ltd. and its owner Ed Kolic are finding success with an approach summed up by the mottos “upsize your home” and “upsize your life.” The company aims to meet the needs of young, growing families seeking a new category of home: something bigger than a two-bedroom condo but more affordable and manageable than the maintenance-heavy older single family home. Kolic’s newest project—Skagen in Coquitlam—also promises that its larger three and four bedroom townhomes that are “future proofed” through advanced environmental standards also save people money—lots of it. There are 14 three bedroom homes and 12 four bedroom units being built in each of two phases.
“The typical townhome comes in at 1,350 square feet while Skagen’s homes range between 1,650 square feet and 2,030 square feet,” Kolic said. “We see these as the ‘missing middle’ between the existing choices of a condo and the older traditional model townhome and the single-family home. At this price point (from $929,900 for a three bedroom and $1,019,900 for a four bedroom) you can basically buy an older 50-year-old single family home that requires a major overhaul and investment of $250,000. So Skagen meets the needs of people who want an urban lifestyle and want a home but not the maintenance of a single-family home.”
The larger size homes are just one differentiator, says Kolic, whose firm prides itself on being one of Canada’s leading passive house builders. Skagen’s passive house design includes features such as double the conventional insulation thickness to R40 values, triple-glazed windows, a heat recovery ventilation system, no thermal bridging through which heat is lost and airtight construction.