649 replies to this topic

[Mike K.]

Yeah, that’s super cool. I’d love to see some summer shots when your schedule permits.

[magmazing]

Our strata AGM was supposed to happen Monday, but not enough people showed up to the zoom meeting for it to move forward.

 

But a couple things that got brought up:

 

A couple days ago, someone from 844 Johnson somehow sneaked into the lobby while garbage or recycling crews were moving dumpsters at 6am and stole someone's amazon package. Security in the area has been a major issue, but everyone knows it was bound to be.

 

Also some dumbass was drunk on the roof and decided to climb over the rail in order to take a selfie with the inner harbour behind them. So now the doors to the roof are locked after 11pm for everyone. The pet owners who use the dog run on the roof are not pleased about having to go out on Johnson Street if their dog needs to go outside in the middle of the night.

[Rob Randall]

Our strata AGM was supposed to happen Monday, but not enough people showed up to the zoom meeting for it to move forward

 

 

 

Hilarious. So basically, it's like:

 

"Hello fellow neighbour; I'll volunteer to help you manage your half-million dollar condo, will you support me?"

"Sorry, that would entail me opening up a new browser tab and I don't really feel like it right now".

[magmazing]

Hilarious. So basically, it's like:

 

"Hello fellow neighbour; I'll volunteer to help you manage your half-million dollar condo, will you support me?"

"Sorry, that would entail me opening up a new browser tab and I don't really feel like it right now".

Communication has been lacking so far. When they locked the midblock walkway gates from 5pm - 9am, there was no heads up anywhere. People just suddenly couldn't open the gate with their fob.  When the roof was reopened after the COVID restrictions eased, there was no notification. For the AGM, people either received a envelope of info in their mailbox or it was emailed, but there wasn't any reminders leading up to the meeting.  I took a half-day off work in order to attend the zoom meeting. Now I have to take another half-day when they attempt the meeting again next week... And that's if I even get notification about the redo.

[magmazing]

https://imgur.com/a/Qd9H3TU

 

City of Victoria will not be supporting Chard's submission to close the midblock walkway until the city secures the easements over the neighbouring property. 

 

City staff recommendation will be to leave the midblock walkway to be fully open to the public from 7am to 10pm. 

 

Strata council wants Vivid/Yates residents to write letters to council for it to be closed.

 

I just don't see how they're going to get much support from owners in Vivid when they currently shut down access to the pathway to everyone except the townhome owners from 5pm to 9am and have completely shutdown entrance access to the midblock door.

 

The original intention was that all Vivid owners would have access to the mid-block walkway all the time and the mid block door was the main access to the main bike room. 

[Nparker]

These sort of narrow, dark mid-block walkways aren't really much of a public amenity, especially considering the current state of downtown. I can certainly understand why nearby residents would want them locked at all times.

[Barrrister]

Bottom line is that downtown is starting to be a **** show.

[G-Man]

The walkways are a treasure in this city and I support this move. On a side note I have a photo show on at Koffi...

 

https://youtu.be/Xc-D42cqAOs

[magmazing]

A handful of units are on realtor.ca

 

They're apparently units where owners broke BC Housing's conditions and were forced to sell back.  Now they're being resold with different buyer rules/requirements. 

 

This listing is a unit that was about $338k - $340k range when originally sold pre-construction in 2017: https://www.realtor....ctoria-downtown

[aastra]

There are some good pics in that listing. Might as well link to them:

 

aerial pic looking across downtown toward James Bay

roof of Vivid from straight overhead

 

roof of Vivid with Harris Green in the background

 

podium rooftop green space between Yates on Yates and Vivid

 

rooftop dog area looking toward HP1, HP2, and Mt. Doug

[aastra]

^No, not the same Rooftop Dogs who tried to sue Tinto Rocks for plagiarizing one of their old hits.

[Victoria Watcher]

LIVE LIFE DOWNTOWN. VIVID at the Yates is a timely opportunity for entry level buyers to become home owners in a seemingly challenging market. For a short period of time, HOUSINGHUB is making it possible for QUALIFIED buyers to own CHARD built steel and concrete homes, just steps from all of Downtown's conveniences. 5% down payments and a clever 15-20% AHOP second mortgage program help ease you into an affordable, low payment home. These near new condos carry the balance of the new home 2-5-10 warranty, and the GST has already been paid. They are packed full of slick contemporary finishes, details and stainless steel appliances. The building offers plenty of communal features, outdoor areas and city/ocean views. Interior photos are of various units to depict varying floor plans, colour schemes and orientations. All measurements are approximate. Immediate possession. Purchasers must meet stringent income and residency requirements. Further details, photos and video at the link below.

 

$370,000

 

 

202 845 Johnson St

 

https://www.realtor....ctoria-downtown

[Nparker]

AHOP is back?

...The unnoticed beginning to what would prove to be one of the agency’s lowest points came the following year. In 1978, CMHC allowed an offer called the Assisted Home Ownership Program (AHOP) to wind down. It had provided interest rate subsidies to first-time homebuyers.

 

Like America’s affair with sub-prime mortgages, this seemed like a way to put more people into their own homes. But just as the once-popular AHOP expired, interest rates began a relentless escalation that by the early 1980s would briefly carry them above 20 per cent. Banks, keen to reduce risk, abandoned long-term fixed-rate mortgages in favour of shorter terms that better reflected the spike.

Many of the families who had been coaxed into buying by CMHC’s rate subsidy saw their rates double -- reflected in suddenly higher monthly payments. “That’s quite a hit on anyone’s income when you’re a start-up young family whose incomes aren’t growing at that rate,” former CEO Hession said.

It was a high -- or low -- point for federal activism in housing. On the one hand, Hession recalled, “CMHC’s Assisted Homeownership Program had the regrettable effect in some markets of people simply walking away. They couldn’t sustain the payments when their mortgage rolled over.”...

https://thetyee.ca/N...Housing-Agency/

 

[victoriahomefan]

It looks like the first market sale in this building has been listed. I thought there was a time restriction for homeowners?

 

https://www.realtor....ctoria-downtown

[Victoria Watcher]

It looks like the first market sale in this building has been listed. I thought there was a time restriction for homeowners?

 

https://www.realtor....ctoria-downtown

 

 

You'll love the 360 degree views of the inner harbour, Olympic mountains, and all of downtown from the common rooftop deck. Sit around the fire pit and BBQ a nice meal in the summer evenings. Pet-friendly, in-suite washer/dryer, fully rentable, no income or residency restrictions, and the remainder of the 2-5-10 year warranty make for great value and peace of mind in today's market.

[Mike K.]

It looks like the first market sale in this building has been listed. I thought there was a time restriction for homeowners?

 

https://www.realtor....ctoria-downtown

 

Correct, two years.

[victoriahomefan]

Correct, two years.

Wow, time flies! 

 

It will be interesting to see how many units will be resold with the time restriction coming to an end. Curious to see if many homeowners bought in with a longer-term mindset rather than it being a good deal for short term (2 years required living there). Especially as some homes are apparently being resold by BC housing with further time requirements. 

[Ismo07]

Correct, two years.

 

It's not two years upon completion?

[downtownlurker]

It's not two years upon completion?

 

I am in the Yates but chat a fair with my Vivid neighbours... I understand it is 2 years from the owners possession. Going back in the thread makes it sound like it got occupancy and people moved in around late April early May 2021, so this seems early no? or maybe there is some finessing with the closing date? I do see it is Marko's listing, so maybe he will chime in. The batch of listings that came online earlier were units that were forced to sell due to violations of the BC Housing covenant, though it seems they extended the principal residence requirement from 2 years to 5 now! Sheesh.

[Ismo07]

I am in the Yates but chat a fair with my Vivid neighbours... I understand it is 2 years from the owners possession. Going back in the thread makes it sound like it got occupancy and people moved in around late April early May 2021, so this seems early no? or maybe there is some finessing with the closing date? I do see it is Marko's listing, so maybe he will chime in. The batch of listings that came online earlier were units that were forced to sell due to violations of the BC Housing covenant, though it seems they extended the principal residence requirement from 2 years to 5 now! Sheesh.

 

But if you buy pre-sale, you could almost sell it right when occupancy is approved no?