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APPROVED
257 Belleville Street
Use: condo
Address: 257 Belleville Street
Municipality: Victoria
Region: Urban core
Storeys: 8
Condo units: 35 (1BR, 2BR)
Sales status: in planning
257 Belleville Street is a proposal for a 35-unit condo residence in an eight-storey building. The site is cur... (view full profile)
Learn more about 257 Belleville Street on Citified.ca
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[James Bay - Victoria] 257 Belleville (Admiral Inn site) | 29.5m | 8-storeys | Approved


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#201 Nparker

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Posted 19 January 2017 - 03:22 PM

...Buildings like The Shard or The Gherkin in London would be wildly inappropriate for that site but something smaller could be interesting...

You mean like a 8-storey pyramid-type design perhaps?


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#202 Mike K.

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Posted 19 January 2017 - 03:26 PM

My sense is there must have been obstacles to building the pyramid. Once real-world costs were factored in and the potential square footage the market is willing to bear also factored in, that design became a no-go.


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#203 RFS

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Posted 19 January 2017 - 03:28 PM

what do you mean market is willing to bear? don't we keep hearing about how there is no inventory and new condos are in such high demand

#204 Mike K.

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Posted 19 January 2017 - 03:34 PM

Sure, but at the lower end of the pricing spectrum (which is still high at Victoria in the $600-$650 per square foot range). Even though demand is high that doesn't mean people are willing to spend $1,000 per square foot at the drop of a hat.


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#205 Kapten Kapsell

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Posted 19 January 2017 - 03:48 PM

Sure, but at the lower end of the pricing spectrum (which is still high at Victoria in the $600-$650 per square foot range). Even though demand is high that doesn't mean people are willing to spend $1,000 per square foot at the drop of a hat.

Interestingly enough Abstract Developments is getting $1,000 per square foot for at least one suite in a wood-framed condo development... until 401 at the Madisson (corner of Richmond and Foul Bay) is for sale @ $1.3 million and it's just over 1,300 square feet.  



#206 Mike K.

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Posted 19 January 2017 - 03:56 PM

Yup, there are quite a number of units in that range. The Private Residences at the Oak Bay Beach Hotel are north of $1,200 per square foot, I believe.

But, that being said, for every $1,000 per square foot unit out there, there are 50 below that (not an exact figure, just a comparison to make a point). :)

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#207 Nparker

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Posted 19 January 2017 - 03:56 PM

My sense is there must have been obstacles to building the pyramid...

Yes and her first name is Pam.



#208 Mike K.

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Posted 19 January 2017 - 03:57 PM

That design was approved, wasn't it? Or was the design we see on Citified the one that received approvals?

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#209 Nparker

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Posted 19 January 2017 - 03:58 PM

That design was approved, wasn't it? 

I don't recall the pyramid getting approved.



#210 Nparker

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Posted 19 January 2017 - 04:01 PM

Yes, I ran into the development team at City Hall today where they were withdrawing the 257 Belleville application due to what they told me were difficulties obtaining secure financing in these troubled economic times. So, yes: officially cancelled for now.

It appears finances killed the pyramid (back in 2008) before approval was granted (or more likely NOT granted).



#211 Mike K.

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Posted 20 January 2017 - 05:55 AM

Ah. Got it.

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#212 Mixed365

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Posted 16 March 2017 - 04:48 PM

Any updates on this project?


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