Uses: condo, commercial
Address: Store Street at Pandora Avenue
Region: Downtown Victoria
Condo units: 122 (studio/bachelor, loft, 2BR)
Sales status: resales only
[Downtown Victoria] Janion Building redevelopment | 7-storeys | Built/renovated - completed in 2016Condo Commercial
Posted 02 July 2017 - 07:49 AM
Posted 02 July 2017 - 08:06 AM
Posted 02 July 2017 - 08:14 AM
Does the average buyer even look at $/sqft?
And the Janion might be a special case. If things go well for this unit, a rich person buys it for the odd weekend retreat.
Posted 02 July 2017 - 08:17 AM
...And the Janion might be a special case. If things go well for this unit, a rich person buys it for the odd weekend retreat.
The price/square foot is pretty irrelevant here; just up the nightly rate on AirBnB and all is fine. The percentage of owners for whom the Janion is their primary residence is pretty small.
- Janion Fan likes this
Posted 02 July 2017 - 12:34 PM
Posted 02 July 2017 - 12:45 PM
... If they really do change the short term rental rules those people will who bought recently will be sitting on huge mark to market losses...
More stringent STR regulations are unlikely to affect the Janion even if the CoV implements them, since this property is already zoned for transient usage. The biggest change the private hotel operators here will likely have to contend with are remitting hotel tax and declaring their income to the CRA. I am sure these costs will be recouped by increased AirBnB rates.
Posted 02 July 2017 - 01:29 PM
Posted 04 July 2017 - 02:04 PM
Any updates on the plaza or commercial tenants? This building really should be fully complete (not necessarily tenanted) by now, right?
- Nparker likes this
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