649 replies to this topic

[MarkoJ]

Photo from April 20th

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[Nparker]

I wonder if this site it mostly clay or will blasting be necessary to complete the excavation?

[Mike K.]

April 14, 2018

 

[magmazing]

Vivid's website says there's only 20 units left and all the 2-bedroom floorplans are no longer on the site. 

[rambaldi]

Lessons learned in time for the Vivid?
 

Sequel 138 in Vancouver:
 

"BC Housing designed and administered the legal agreement — called a covenant — that was supposed to ensure buyers lived in the units themselves and did not rent them out, except in cases of financial hardship. The covenant was in place for two years after the initial purchase, and the provincial housing agency verified the income cut-off through income tax statements."

 

"BC Housing acknowledges some homeowners rented out or put their units on Airbnb, abusing a housing covenant that was supposed to prevent real estate speculation."

 

"There were also titleholders who already owned high-value properties"
 

https://www.thestar....do-project.html

Edited by rambaldi, 05 May 2018 - 07:02 PM.

[Nparker]

There are always people determined to game the system. 

[VicHockeyFan]

There are always people determined to game the system.

BC Housing should be smarter though, they have the resources to be experts. The article shows so many failings.

[Nparker]

BC Housing should be smarter though, they have the resources to be experts...

And for every expert there will be someone who finds a way to cheat. 

[VicHockeyFan]

The government has unlimited resources to prevent, monitor and enforce. For them to throw up their hands says something,

[tjv]

^haha and the government is somehow expecting to enforce empty condos and houses.  good luck to them

[VicHockeyFan]

^haha and the government is somehow expecting to enforce empty condos and houses.  good luck to them

 

I guess though the Vancouver experience is that they will find more than enough people willing to just hand over the money.

 

Of about 183,000 registered residential homes in the city, only 3,300 properties were subject to the tax.

 

Another 5,200 empty or unoccupied homes were exempt, because they were either having title transferred, under renovation or redevelopment, restricted from rentals under strata rules, the owner had recently died, or they were being used for work in Vancouver.

 

 

Meanwhile city staff are still auditing the status of several thousand homes and Robertson said it is expected the revenue from the tax will increase as those are resolved.

 

So far, $17 million has already been collected, with those who are late facing a fine of $250 plus five per cent of the unpaid tax.

 

 

http://www.cbc.ca/ne...s-tax-1.4631597

Edited by VicHockeyFan, 06 May 2018 - 08:14 AM.

[Promontory Kingpin]

I am sure that BC Housing will be only too happy to fine anyone doing that.

How are you hearing that "lots" of people will be renting them out?

 

Promontory Kingpin, if you have any further questions or if you’ve heard anything else through the grapevine post it up. Clearly there’s interest in this project and any question you may have a few dozen people out there likely share.

 

 

Lessons learned in time for the Vivid?
 

Sequel 138 in Vancouver:
 

"BC Housing designed and administered the legal agreement — called a covenant — that was supposed to ensure buyers lived in the units themselves and did not rent them out, except in cases of financial hardship. The covenant was in place for two years after the initial purchase, and the provincial housing agency verified the income cut-off through income tax statements."

 

"BC Housing acknowledges some homeowners rented out or put their units on Airbnb, abusing a housing covenant that was supposed to prevent real estate speculation."

 

"There were also titleholders who already owned high-value properties"
 

https://www.thestar....do-project.html

 

This is exactly what I was talking about Mike K. As mentioned, several owners are going to be renting their units out at Vivid way before the two year mark. I have heard from one of the Penthouse owners who will be listing their unit soon after two months of taking possession of it. This is going to funny to watch, hilarious indeed!! Can someone please define affordable housing?? It seems like if it's not free then it's not affordable. Why don't many of these millennials build on their skills so they can get a real job. Stop buying avocado toast so they can buy a starter condo. One of the problems is that many of the members of the preceding generation are/were the same way. They just weren't able to publish their behaviour on social media like the kids do nowadays.

 

Can't these whiners just put their name on a waiting list for View Towers? That's affordable, is it not...?

 

Oh but wait. They want granite counter tops that are affordable. They want parking stalls (plural) downtown that are affordable. They want floor to ceiling windows. They want wood flooring too. But all of this must be "affordable"

 

I also think it's absolutely hilarious to see the gas prices. I hope they continue to rise and rise and rise. An NDP government was voted in. This is what you asked for, is it not 

Edited by Promontory Kingpin, 06 May 2018 - 03:42 PM.

[Mike K.]

Yup, that’s definitely eye-opening for BC Housing to so non-chalently shrug their shoulders. But we’re still 2.5-years away from Vivid’s completion. The fact that this news is emerging now suggests there’s time to get this stuff figured out.

[Promontory Kingpin]

Yup, that’s definitely eye-opening for BC Housing to so non-chalently shrug their shoulders. But we’re still 2.5-years away from Vivid’s completion. The fact that this news is emerging now suggests there’s time to get this stuff figured out.

Lol 

[VicHockeyFan]

Can we all agree though that taxpayer supported housing, should probably not follow this Vivid model?  I have no idea why our resources should fund 18-floor brand new luxury condo living.  When there is no shortage of units of similar size for $100k less in the normal market. 

Edited by VicHockeyFan, 06 May 2018 - 04:37 PM.

[Promontory Kingpin]

Can we all agree though that taxpayer supported housing, should probably not follow this Vivid model?  I have no idea why our resources should fund 18-floor brand new luxury condo living.  When there is no shortage of units of similar size for $100k less in the normal market. 

 

Vivid is/was a bad idea. It just dilutes the Chard brand. Although they are developing many buildings in Victoria, they are becoming increasingly complacent as a result of their past success. Look at Escher...that cheap orange paneling is going to look very dated soon.

 

One can only hope that Bosa starts putting more focus into the Victoria market. I also hope that Mike continues to use this platform to persuade voters to vote against Helps. She is the epitome of Victoria's millennial fueled socialist hand out entitled ideology. This town has so much potential. If there is a housing shortage why do we not let developers build taller skyscrapers that will allow for many more units in the core.

[2F2R]

We have the like button ... how about the don't like button ... or this poster can go and ... ... themselves !!!

[LJ]

Affordable housing has penthouse suites?

[tjv]

If there is a housing shortage why do we not let developers build taller skyscrapers that will allow for many more units in the core.

You do understand that concrete buildings are much more expensive to build than wood frame condos?

[Mike K.]

Helps has done more for Victoria’s built environment than any other mayor over the last 30+ years. I’m not sure there’s all that much criticism of her in that regard.