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[Langford] Reflections condo | 6-storeys | Built - completed in 2009


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#1 Mike K.

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Posted 30 July 2006 - 05:51 PM

http://www.liveatreflections.ca

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#2 Carewser

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Posted 31 July 2006 - 04:29 AM

The thing i'd like to know is, how did they get Anjelina Jolie to do their ads? Damn, that chick looks like her. The only problem is, she's so hot, she makes me forget all about the building.

I also wonder if they are going to put in a webcam. Thankfully, construction webcams are becoming increasingly ubiquitous. In 5-10 years probably all sites will have them.

#3 FunkyMunky

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Posted 02 October 2006 - 12:23 AM

Does anyone know if this project has stalled? I drove past there last Tuesday during the day and it seemed to me nothing was going on behind the hoarding.

#4 G-Man

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Posted 02 October 2006 - 06:35 AM

I beleive they are refinancing. This equals a stall similar to that of Tuscany Village

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#5 G-Man

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Posted 25 October 2006 - 06:42 AM

So I went by here last night and for one could see no crane and two there is still no work being done at least as far as I could tell. Any word on the refinancing? All I have to say is that this just goes to show that there is all the same difficulties building in the West Comms as their is in the Core. Also makes you wonder about the feasiability of all the other proposed projects.

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#6 Mike K.

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Posted 25 October 2006 - 08:37 AM

Here's the deal with Reflections:

Contractor woes stalls Reflections

By Rick Stiebel
Goldstream News Gazette
Oct 25 2006

Legal wrangling has ground the Reflections development on Veterans Memorial Parkway to a halt.

Although no work has been done for two weeks on the 1.5 acre site, that shouldn't affect the completion date of early 2008 for the $30-million 114-unit residential and commercial project, said Parkway Alliance Development spokesperson Andrew Khoo.

Parkway Alliance is currently involved in legal proceedings with Leier Construction for not adhering to the terms of their agreement, and a selection process for a new management company should be completed this week, Khoo said.

"(The matter with Leier Construction) is in our lawyer's hands," Khoo said. "We had to make a change and we're moving forward."

Leier Construction owner Arlene Leier said Parkway Alliance's allegations regarding their contract are unfounded, and her company has a launched a wrongful termination action against the developer.

Leier Construction has also obtained liens for payment of work done up until now, Leier said.

When asked about what steps the City of Langford can take in the event the project is derailed by legal proceedings, Langford clerk administrator Rob Buchan said legislation does not allow local governments to force someone to build a building.

"We simply regulate how they're built," Buchan said.

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#7 Holden West

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Posted 02 November 2006 - 10:54 AM

Note: VibrantVictoria.ca is not a rumour mill. It is a rumour foundry, which is different from a factory or a warehouse. Those are for spaghetti.

Moving on...

••••••••••••••••••••••••••••

Rumour mill 'wrong about Reflections project'
Condominium firm's owner says Langford venture is going ahead


Andrew A. Duffy
Times Colonist

Thursday, November 02, 2006

Bob Gill has heard the rumours. The developer behind Reflections, a 114-unit project in Langford, knows the gums start flapping when work stops on any construction site in Greater Victoria.

But while the rumour mill was on the money when suggesting the end was nigh for Victoria projects such as Bambu, a 161-unit development which never got off the ground, and The Wing, a 99-unit project that went into receivership, Gill said it's off-base when directed at his latest venture.

"That's just human nature," he said, noting Reflections remains on schedule to be completed within 18 months. "From the outside they may see nothing going on, and they're wondering 'what happened here?'"

Gill said what's happening now is the parkade walls have been done and the project is between phases but still going forward.

But the project is tangled in legal proceedings as Gill's Parkway Alliance Development has terminated Leier Construction as the project management team and is looking for a new manager.

"They didn't meet our expectations," said Gill, noting he hopes to announce the new project manager -- a local firm -- within the next week. "This shouldn't delay anything. We had a cushion built into this."

Leier Construction has filed builder's liens against Parkway totalling around $200,000 for work completed to date.

"It's difficult to say what happened ... They notified us they were terminating our contract and locked up the job site," said owner Arlene Leier. "The sad part is we turned down a lot of work to (take on Reflections)."

Gill said the rumours are particularly understandable given the real estate market in Greater Victoria.

There are plenty of challenges out there for condominium developers, not the least of which is the sheer number of units available. Canada Mortgage and Housing Corp. reports condominium listings in Greater Victoria have hit a seven-year high.

"There's a lot of product out there and a lot of product coming up as well," Gill said, adding the consumer's contentment to sit back and wait to buy has added to the challenge. "People don't believe pricing will change much now and will remain stable, and others even think it might go down."

That might explain why the Victoria Real Estate Board (VREB) listing service has 928 condominiums listed and a total of 3,426 properties available. The board's sales figures from October back up Gill's contention the market continued to slow down in October.

With 590 sales recorded through the Multiple Listing Service in October, sales were flat compared to the 593 in September. The inventory jumped to 3,426 at the end of October compared with 2,496 at the same time last year.

The average price of sales continues to increase. The average price for single-family homes in Greater Victoria last month was $523,677 with the average for the last six months being $524,017. The median was $450,500. The average price for all condominiums sold last month was $272,224, while the six-month average was $287,079. The median was $252,500. The average price for townhomes last month was $351,663 with the six-month average coming in at $361,476. The median was $335,000.

Scott Kendrew, president of the VREB, said there has been a definite change in the market, with the craziness of bidding wars for property now a memory. Buyers can now take some time to consider their options. He said year-over-year increases in sale price of between five and 10 per cent is sustainable and healthy.

According to CMHC senior market analyst Peggy Prill, any softening in the market should not be seen as the first sign the real estate bubble is about to burst as it did after previous condo building booms.

Prill said there are big differences between now and then, as interest rates remain low, unemployment is almost negligible, and developers have discovered the safety blanket of the pre-sale.

She said almost three-quarters of the condominiums under development have been spoken for. "No one wants to take big risks on big projects -- you don't want to find out after you've poured cement that the market doesn't like the project."

Gill has pre-sold 50 per cent of Reflections and has made sure to hold back enough units to ensure the project remains viable even if construction costs increase.

"I don't foresee a [market] crash, but I do see a levelling off," he said, noting large-scale developments will be done in phases so supply does not far exceed demand and maintain a healthy market.
© Times Colonist (Victoria) 2006
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#8 G-Man

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Posted 02 November 2006 - 10:58 AM

This must have something to do with drugs or the raid on the legislature.

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#9 aastra

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Posted 02 November 2006 - 05:36 PM

"There's a lot of product out there and a lot of product coming up as well," Gill said, adding the consumer's contentment to sit back and wait to buy has added to the challenge.


Colour me confused. We all know Bambu was sold out, right?

In this very article they tell us Reflections has sold 50% of its units and is holding back the remainder to cover rising construction costs!

The local media has gone out of its collective way to forge the impression that nobody wanted to live in Bambu and that's why it went belly up. Nothing could be further from the truth.

Heck, CHEK TV even showed the special meeting they had when the developer apologized to everybody for blowing it. There must have been 40 or 50 people in attendance and it was obvious they were really disappointed.

#10 aastra

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Posted 02 November 2006 - 05:41 PM

The board's sales figures from October back up Gill's contention the market continued to slow down in October.


With 590 sales recorded through the Multiple Listing Service in October, sales were flat compared to the 593 in September.


So if but 4 additional units had been sold in October, the number of sales would still be on the increase...

The average price of sales continues to increase.


Is that how we can tell the real estate market is collapsing? Because the average sale price continues to rise?

#11 VicHockeyFan

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Posted 02 November 2006 - 07:11 PM

I think Jimmy Hoffa may be in the foundation of Reflections.
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#12 Scaper

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Posted 02 November 2006 - 09:29 PM

hahhahhahhaaa......I thought he was the gold man on top of the Leg....???

#13 gumgum

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Posted 06 November 2006 - 07:50 PM

It's official guys.
Reflections is in financial trouble.
Don't know all the details and I have nothing to back it up except that a couple very reliable birds told me.
The nail in the coffin for was that they had finalized a few sales in Alberta. But then they realized that they didn't have the right paperwork for the cross-provincial sale, rendering the sales dead.
Their finances are on very shaky ground.

#14 Mike K.

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Posted 06 November 2006 - 08:04 PM

Uh oh.

That ain't good.

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#15 Savannah

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Posted 06 November 2006 - 10:37 PM

And I haven't seen a crane there at all.

#16 aastra

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Posted 07 November 2006 - 12:16 AM

What's the state of construction?

Every other condo proposal out there is three or four times as tall as this one. Any chance they can repurpose the project into something more viable?

#17 Galvanized

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Posted 07 November 2006 - 12:41 AM

I guess the Reflections Hummer has to go back now eh!
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#18 jaylow

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Posted 08 November 2006 - 01:27 PM

It's official guys.
Reflections is in financial trouble.
Don't know all the details and I have nothing to back it up except that a couple very reliable birds told me.
Their finances are on very shaky ground.


how is this official, and have nothing to back this up.

#19 gumgum

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Posted 08 November 2006 - 01:42 PM

OK. It's not official then.
I also said myself that I have nothing to back this it up - meaning: I can't reveal my sources.

#20 jaylow

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Posted 08 November 2006 - 03:39 PM

i know that a new contractor has been hired, and is in the process of getting up to speed with what has been constructed so far.

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