530 replies to this topic

[concorde]

yes, I am aware units are from $1225, but it would be nice to see the complete list like the Q.  I am more curious than anything

[concorde]

Not shocking.

 

Do you mean Townline in general or just in Victoria?

 

Townline can't seem to do anything right as far as Victoria goes.

 

Their high-end approach for the Hudson was a disaster. The rental building (Hudson Mews) looks good, but also looks devoid of residents at this point.

 

While others have seemingly figured out the sensitive Victoria market, Townline just keeps on blowing it.

From what I have heard its around the Hudson Mews, but it wouldn't surprise me that its the company in general

 

In all fairness about the department store, that was never going to be a big money maker.  Developers would only sink money into that building in order to get greater density or other concessions on the property behind the building.  It would have been cheaper to demolish the store, but that is short term thinking.  They also started that development when the real estate boom was still on.

 

I have no idea how well the Hudson Mews is renting.  If you go to their website, you can register, but thats it.  Why aren't there floor plans, rates, interior pics.  Do they not know how to market?   Does anyone know how well Hudson Mews is renting?

[Mike K.]

That's the thing, you've got nothing to go on unless you go to the rental showroom. In this day and age that's a massive fail.

Same thing with Era, they're website is very lacking in tangible pricing information.

[jonny]

From what I have heard its around the Hudson Mews, but it wouldn't surprise me that its the company in general

 

In all fairness about the department store, that was never going to be a big money maker.  Developers would only sink money into that building in order to get greater density or other concessions on the property behind the building.  It would have been cheaper to demolish the store, but that is short term thinking.  They also started that development when the real estate boom was still on.

 

I have no idea how well the Hudson Mews is renting.  If you go to their website, you can register, but thats it.  Why aren't there floor plans, rates, interior pics.  Do they not know how to market?   Does anyone know how well Hudson Mews is renting?

 

Yeah, the Hudson was terrible timing and some bad luck.

 

I know of a guy who had put down a deposit on a multi-million dollar penthouse there only to back out when construction was completed due to the market crash.

 

The Hudson Mews is priced wrong and marketed even worse. I would have thought a brand new rental building downtown would have rented out fairly quickly. It's impossible to tell just from looking at the building what percentage is rented, but there are a lot of barren balconies.

[concorde]

Its probably best to drive by at night and see how many lights are on.  I'll try to do it later this week, but if someone wants to do it before me, feel free

[MarkoJ]

That's the thing, you've got nothing to go on unless you go to the rental showroom. In this day and age that's a massive fail.

Same thing with Era, they're website is very lacking in tangible pricing information.

 

I don't understand some of the real estate websites either.   Seeing way too many fancy websites with no content.  

 

Also, the finishing appears to be sub-par when you go above $1,500/month in rent.  For example, this unit they are asking $1,975 per month for....three baseboards in the living room?

 

 

This is the kitchen for $1,975?

 

 

http://victoria.en.c...4562988106.html

Edited by MarkoJ, 22 July 2014 - 10:21 AM.

[MarkoJ]

For not too much more you can get one of the largest (2 bedroom plus den) floor plans at the Bayview Promontory with spectacular views of the inner harbour. 

 

http://victoria.en.c...4579403360.html

[VicHockeyFan]

^ ^ Jeepers, that is a poor kitchen.

[MarkoJ]

Hudson Mews photos could be a bit better too.....

 

 

I rented out my unit at the Promontory a few days ago and it went very quickly and I put 30 minutes of effort into it via really good pictures, a good write up, etc.

 

I would think a huge rental building like this to be much more sophisticated than me (a small time investor whose principal business is not renting out units) in terms of marketing.

Edited by MarkoJ, 22 July 2014 - 10:22 AM.

[sebberry]

Why aren't there floor plans, rates, interior pics.  Do they not know how to market?   Does anyone know how well Hudson Mews is renting?

 

There are.

 

On the right side of the screen, click menu.  Hover over "Hudson Mews - The Details" then click gallery or floor plans.

 

There's a few professional photos of the showroom.  Professional in that they hide how crappy that kitchen is.  I know, it's a rental, but from those photos above it looks like a reno'd 1970's apartment kitchen. 

[MarkoJ]

There are.

 

On the right side of the screen, click menu.  Hover over "Hudson Mews - The Details" then click gallery or floor plans.

 

There's a few professional photos of the showroom.  Professional in that they hide how crappy that kitchen is.  I know, it's a rental, but from those photos above it looks like a reno'd 1970's apartment kitchen. 

 

The biggest two bedroom they have is 896 sq/ft likely the one $1,975/month.  It will be interesting to see the absorption rate. 

Edited by MarkoJ, 22 July 2014 - 10:19 AM.

[Mike K.]

Holy smokes, that's extremely expensive.

 

And wasn't it just a few months ago that we were having a discussion about the outrageous rental rates in downtown Victoria but the argument some made was that they're actually lower than in most other markets? I don't think so...

[sebberry]

My friend rents a penthouse condo in the Metropolitan, two floors, two bedroom, yada yada for not much more than that. 

[sasamat]

Not to mention that a parking space and a storage locker come with an additional charge in the Hudson Mews. I can't see anyone paying $2000 for a two bedroom and parking in that building when you can rent nicer condos downtown for less. I certainly wouldn't (and I'm their target market).

[VicHockeyFan]

Not to mention that a parking space and a storage locker come with an additional charge in the Hudson Mews. I can't see anyone paying $2000 for a two bedroom and parking in that building when you can rent nicer condos downtown for less. I certainly wouldn't (and I'm their target market).

 

For $1900 you can get a 2-bed, 2.5 bath at Shutters:

 

Large two bedroom, two and a half bath luxury condo in Shutter on the Songhees - close to downtown and all amenities. This unit includes 7 appliances, all hardwood floors, heated bathroom floors, very large deck, FP, Parking, Storage, access to building services like the work out facility, summer pool, hot tubs and saunas. 

 

http://victoria.crai...4560553701.html

[Baro]

I live downtown in a gorgeous building, mostly full of "quiet working professionals" as the landlord tries to screen for.  Just shy of 1000 sqft, private individual garage, luxurious common spaces, newly renovated kitchens, hardwood floors, and absolutely perfect spotless upkeep.  It's only $1300 a month.  Who the heck is paying close to 2k a month for something smaller, uglier, and in a worse area?

[Mike K.]

Let's see your kitchen.

[Mixed365]

That's the thing, you've got nothing to go on unless you go to the rental showroom. In this day and age that's a massive fail.

Same thing with Era, they're website is very lacking in tangible pricing information.

Although frustrating, it is usually done because prices are subject to change depending on how sales are going. They don't want purchasers demanding a previous price. 

[MarkoJ]

Although frustrating, it is usually done because prices are subject to change depending on how sales are going. They don't want purchasers demanding a previous price. 

 

At the 834 I bought a pre-sale very early on as I did with the Promontory because I thought the value was there.  When Era launched I opted not to buy a unit there; however, after they lowered their prices on the re-launch I picked up a unit.  Not because it was lower in relation to the previous price offered but because I saw value in the new lowered priced in relation to the market.  I would pay more than a previous price too if I saw value (for example, if a building turned out way better than I thought it would or rents ended up being more than I anticipated).

 

The prices are available for every development and pretty much every unit at each sales center.  It doesn't take a genius to memorize some of the prices offered by going down to the sales center.  

 

I agree with Mike, I think it is a fail not having prices on the websites.  The easier the developer makes floor plans and corresponding prices available to me as a consumer online the larger the likelihood that I would buy in his or her development.  Having to go down to the sales center to get pricing information or to send emails asking for specific unit pricing is a huge pain and hinders my analysis in terms of which unit I would like to buy.

[MarkoJ]

I think it would be cool if a developer tried a "build your condo," system on their website similar to those of car manufactures.  For example, you could select the floor plan, then the floor level, then the colour palate, and options (hardwood versus carpet in bedrooms, parking spot, etc.).