1676 replies to this topic

[Victoria Watcher]

i think the op suggests that the $2k is for STR in studios.

[sebberry]

Ok, how about this way - is the sort of person who will enjoy living in that actually earning enough to buy it?

[Mike K.]

i think the op suggests that the $2k is for STR in studios.

And regular rentals. Those would be the extreme exception.

[Mike K.]

Ok, how about this way - is the sort of person who will enjoy living in that actually earning enough to buy it?

The good news there are plenty of investors more than willing to put up the up-front costs to provide that housing as a rental for those who can’t, but there is also a negative connotation with the investor side of the market now.

[Casual Kev]

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.

 

The STR example was a bit extreme, but the temporary population does put a big squeeze on the long-term market who will rent similar types of accommodations. 

 

And buying isn't a "quick buck" per se, but it's perceived to be an assured one with time - even when we're talking timeframes as short as 4-5 years. Specially when you consider the alternative of paying rent.

Edited by Casual Kev, 18 March 2021 - 09:14 PM.

[Nparker]

HP1 is finally varying the colours of its rooftop lighting. I haven't seen this since they were testing the system before occupancy last year.

[Hotel Mike]

I noticed that as well. I'm hoping that HP2 will have some interesting rooftop lighting as well. It should be contingent on Victoria Council to always ask what sort of lighting treatment new projects are planning.

[Mike K.]

Victoria council wants less lighting, not more.

[Nparker]

HP2 will likely block much of my view of HP1, so I hope it has some sort of visual panache.

[G-Man]

Where did you hear they want less lighting?

[Mike K.]

"It's the downtown, there is going to be light pollution, but when we're adding new lights that could be directly impacting the wildlife, I think it's something we need to be aware of and make sure we're finding solutions for," said Coun. Jeremy Loveday.

- https://vancouverisl...ights-1.3784504

[Nparker]

The wildlife that inhabits downtown? Stray cats and racoons?

[Barrrister]

Dont forget rats.

[todd]

^I think more mice then rats?

[Mike K.]

6 units remain!

[Victoria Watcher]

By the time the restaurant opens to diners in October, seven in-house beers will be available from Hudson’s taps, including the ‘Big Tasty’ lager currently available at Yates Street Taphouse, but the plan is to sell a comprehensive variety of local beers. And prior to the restaurant’s arrival the tasting room will serve visitors in September just one month following the brewery’s ramp-up. The liquor distillery is expected to be ready by late 2021.

 

https://victoria.cit...emorial-centre/

 

 

 

not open yet?

 

 

 

 

FrontFundr closes in December (41 days) and is only at 10% of its goal, with just 6 funders.

 

https://www.frontfun...hudsonbrewhouse

Edited by Victoria Watcher, 30 October 2021 - 06:18 PM.

[Nparker]

...seven in-house beers will be available from Hudson’s taps, including the ‘Big Tasty’ lager currently available at Yates Street Taphouse...

Does it feature the likeness of Barry Goldberg?

[Mike K.]

Still not open.

[Citified.ca]

Downtown Victoria's Hudson Place One condo, Vancouver Island's tallest building, reaches sold-out status

https://victoria.cit...old-out-status/

[victoriahomefan]

Awesome to hear they've sold out! Congrats to Townline.

 

I wonder what if the four year sell out was planned or not...seems the longest sales timeline for most recent projects.