1676 replies to this topic

[zoomer]

Yes, that's it! See, I wasn't exaggerating.. good grief.

[aastra]

 

...with views of the beautiful Songhees Mountains and dishwashers in some suites.

 

Come on. Nobody would disagree that Gary Hoyer and laconic and other Songhees suite owners have nice dishwashers, but beautiful dishwashers? That seems a bit over the top. If their dishwashers are beautiful then what superlatives would we reserve for Mike K.'s custom-made $85,000 European dishwasher? (and yes, Mike K. does have European dishes... he wouldn't eat off anything less)

 

Anyway, I wonder how Gary and laconic and others feel about the tenants of 1204 Yates having views of their dishwashers? If it makes them uncomfortable I suppose they could cover the dishwasher with a sheet or something. Maybe that's why the dishwashers are visible in some suites only.

[Victoria Watcher]

does my french maid count as a european dishwasher?

[zoomer]

That listing is hilarious, again clearly written by someone who is just looking at a map or Google Earth from Toronto:.

"close to downtown and many parks including Stadacona Park, Pioneer Square and Royal Athletic Park.

Ok then.. and while RAP is called a park, normally you need to pay to enter, but I suppose if the shower isn't working in your unit..

[aastra]

The NPNA, DRA, and other neighbourhood associations might want to take note. If 1204 Yates is indeed close to Pioneer Square and Stadacona Park even though it's a few blocks away from either of them, then does that mean the lack of a park or green space on every frickin' block isn't such a deficiency after all?

[zoomer]

Well, for Toronto it's close. Victoria requires far more parks because we're dealing with a denser urban environment and greater population density than Toronto. They have the Niagara Falls and five pretty big lakes right in or near their downtown, so like that's enough. Many people are saying their lakes are much better than ours.. plus Swan Lake and Beaver Lake are no where near our downtown.

[Mike K.]

That explains why the rise in Vic West is a mountain.

[aastra]

Nice pic here...

 

pic from https://victoriaexec...dson-place-one/

Edited by aastra, 30 October 2020 - 04:42 PM.

[aastra]

^Super zoominable*, too.

 

*technical jargon

[zoomer]

I love anything that’s zoomerinable.

Great pics, thanks for taking those Aastra. Is Hudson One the best 25 storey building in Canada? In the top 25 at least? Probably in the running for the best 25 storey building in a former Bay parkade.

[Mike K.]

March is off to a fantastic start at Hudson Place One with 10 homes sold! We are now down to our final four 1-bedroom homes and three Junior 1-bedroom homes.

 

OUR 1-BEDROOM DISPLAY IS CLOSING

Our 1-bedroom display home will be closed as of March 28th. Now is the time to book your appointment to see our A3 plan in person and experience elevated living in Downtown Victoria.

 

FREE PARKING WITH REMAINING JUNIOR 1-BEDROOM HOMES
For a limited time only, enjoy a free parking stall when you purchase our Junior 1-bedroom - a $45,000 value.

 

This past year has really shown us how important a comfortable home is, and living at Hudson Place One could not make life any easier. With 11,000 sf of hotel-inspired amenities, you can feel confident that everything you need is right here at home. Find the perfect balance of activity and tranquility - social lounges, chef’s kitchen, games room, outdoor courtyard with fire pits, fitness & yoga studio, business centre, and more.

[sebberry]

FREE PARKING WITH REMAINING JUNIOR 1-BEDROOM HOMES

For a limited time only, enjoy a free parking stall when you purchase our Junior 1-bedroom - a $45,000 value.

 

How much do you pay for that 455 sq-ft home?

[Mike K.]

In the range of $450k-500k.

[sebberry]

[Rob Randall]

For a limited time only, enjoy a free parking stall when you purchase our Junior 1-bedroom - a $45,000 value.

 

How much do you pay for that 455 sq-ft home?

 

That's funny, $45k is exactly half what I paid for my 360 sq. ft. place.

[sebberry]

It's getting silly when 'homes' are now smaller than 4 parking spaces while being 15 times the median income.

[Rob Randall]

It's getting silly when 'homes' are now smaller than 4 parking spaces while being 15 times the median income.

 

That's an interesting point. Strata property as four parking spaces cost $180,000, while as an apartment it's $550,000.

[Victoria Watcher]

how much to throw some appliances and a toilet and shower in the parking spot?

seriously though. the parking spot is a lot more expensive to build than the suite. on a square foot basis.

but there is a psychological barrier preventing it from being sold for more.

Edited by Victoria Watcher, 18 March 2021 - 12:15 PM.

[Casual Kev]

Downtown homes will always lean on the small side as they'll house young and/or childless households. But I think the impact of tourism, secondary residents and international education on square footage price is understated. You need little space to make a tidy sum off that demographic, which squeezes the existing residential stock very hard. You'll be hard pressed to find a room in a home for less than $600, and you should expect $800-900 per room even for older homes. You can also clear $2K+ off a bachelor-sized unit per month with short-term rentals, or even as a premium month-to-month depending on furnishings/location. So the final price will in part not reflect what locals can afford - it will be a function of how much money can be made off visitors.

 

Then you also consider that real estate in Victoria has hardly experienced downturns in the past two decades, and the hindsight lesson right now is that even if you're losing cash every month, you will inevitably make huge equity gains if you hold long enough. And mortgages provide leverage the average person can't get anywhere else. So home-as-an-investment is also factored into the price. In the 90's you could've been paying double-digits in interest on a mortgage. But for the past 10+ years the masses have been able to hold a highly leveraged asset at low interest rates and seen huge gains from it. 

Edited by Casual Kev, 18 March 2021 - 04:25 PM.

[Mike K.]

I don’t think I would agree with some of those statements.

The vacation rental market does not impact the price of a rental apartment in an adjacent building, and average studios will not rent for $2k-plus. AirBnB is also regulated, so you can’t operate one in new housing stock within the CoV. Equity is also unattainable for any sort of leverage unless you can afford to carry the debt in addition to your mortgage and other expenses. Or you pursue private lending against the equity, which is expensive. Either way it is not always a path to low-rate lending unless you’re a high income earner with sufficient cash flow/earnings to service the debt.

It’s not quite as easy as you may want to believe it is, as homeownership bears many costs in addition to the mortgage, insurance, strata and property taxes, and is not a quick get-rich scheme like some people may want you to think.