978 replies to this topic

[Victoria Watcher]

Well personally as someone who bought 2 units as an investment in the building these units that have suddenly reappeared on the market represent some of the best floor plans and locations in the building. It seems as though these were sold to people who had a special opportunity to purchase before the general public and then walked away because of the new tax. But I guess this not unusual in property development.

 

what floors and exposure did you buy mikef4?

[MikeF4]

what floors and exposure did you buy mikef4?

Two 1 bed units north facing on the 3rd. Both ended up being 30 square feet bigger than the builder's plan which was a nice bonus.  

[Victoria Watcher]

Two 1 bed units north facing on the 3rd. Both ended up being 30 square feet bigger than the builder's plan which was a nice bonus.  

 

yes very good.  and what are your anticipated rental incomes?  furnished or unfurnished?

 

of course you need not answer  i'm just a bit curious.  

[MikeF4]

yes very good.  and what are your anticipated rental incomes?  furnished or unfurnished?

 

of course you need not answer  i'm just a bit curious.  

Both were leased unfurnished immediately after closing with Duttons Property Management. One unit has a parking spot so it went for a little more. They are renting in the $1600-$1750 range.

[Mike K.]

My agent recommended that I look at a couple units in the Jukebox because they are reasonably priced and it has a funky style. Now, I'm hearing that the off smells from the newly opened restaurant at the entrance of the building are quite overbearing. I'm not completely sure how much of a problem this is though??? I will likely check it out for myself because I like the look of the building and they seem affordable for the location.

Yes, check it out for yourself and speak with the developers about the venting in the building. They’ll be on-site today. Typically these in-building food places will vent from the roof, I think?

No matter what with so many testaurants in the area you’ll catch an occasional whif from somewhere.

Welcome to VV! Let us know how your visit to the site goes.

[ovovov]

Well personally as someone who bought 2 units as an investment in the building these units that have suddenly reappeared on the market represent some of the best floor plans and locations in the building. It seems as though these were sold to people who had a special opportunity to purchase before the general public and then walked away because of the new tax. But I guess this not unusual in property development.

 

great catch MikeF4. Those guys not only have special opportunities to the developer but also have some real connections to certain individuals given how they they could easily walk away

 

in the end, the developer has no real interest nor incentive to sell them quickly

[Citified.ca]

About a dozen suites have sold since Jukebox launched its post-completion sales campaign in mid-September, highlighting that demand for move-in ready new-build homes is an indicator that this under-supplied product in Victoria should garner more attention from developers and project financiers.

 

The newly completed Jukebox condominium at 1029 View Street is garnering attention for its move-in ready new-build residences in a real-estate market accustomed to pre-sale offerings for new homes. Developer Mosaic Properties Inc. set aside a collection of residences to list for sale upon the project's completion, a move that has seen a strong response from local buyers.

 

'Move-in ready' new-build condos a hot commodity in downtown Victoria's real-estate market

https://victoria.cit...-estate-market/

 

Victoria’s condominium industry is turning to an increasingly popular albeit under-supplied segment of the real-estate market with a focus on move-in ready purchase opportunities in lieu of traditional pre-sale offerings.

 

In new-build real-estate speak, the term move-in ready refers to completed suites available for purchase as part of a development project’s post-completion and final sales effort.

 

Already in-vogue throughout North America’s largest cities, the growing popularity of move-in ready condominiums is gaining traction in the Capital with local developers reserving select quantities of units for sale upon project completion rather than pursuing sold-out status during pre-sale (pre-completion) marketing phases.

 

“As Victoria’s condominium market matures we’re seeing a shift away from a nearly universal pre-sale focused sales drive, where purchasers must decide on which home to buy based off of floorplans and renderings, to one where a growing number of buyers will wait for finished product to cement their buying decision,” says Victoria REALTOR® Marko Juras. [Full article]

[Victoria Watcher]

a dozen sales since mid-september that sounds pretty good.  

[mbjj]

I went with my daughter to look, as she's wanting to get an idea what's available. We could not believe how hot it was in there. It was an overcast day so I can't imagine what a warm summer's day would be like. The windows only seem to open about an inch. It was like being in a greenhouse. She was appalled at the lack of storage. It certainly was not for her, esp. a "bedroom" with no fresh air or window. She doesn't have a lot of "stuff" but even she was hard-pressed to say where she would put things like winter boots and clothing, baking supplies, etc.

[m3m]

I was actually surprised by the amount of storage. Not much in the kitchen and bathroom, but many units had multiple large cabinets and I think every unit I saw had a rather large storage loft like the one pictured below.  I could easily fit everything I own in the storage loft packed neatly into trunks or tupperware. 

 

 

The units were definitely warm when I was there too. 989 will have this same issue as it does not have air conditioning either.

[Mike K.]

Yes, downtown condos can get quite warm.

I cooled my unit with a stand-up a/c and it did a great job. 550 sq ft or thereabouts. Southwest exposure so it was in the sun alllll day. I found that opening the windows didn’t make much of a difference until the temps really dropped late into the evening.

[sherrilynne74]

Hi,

 

Thanks for welcoming me to the site. This is a great resource for potential buyers. 

 

I have an update regarding my last post about the potential smell of the restaurant. I went and checked it out and there was a very strong smell from the restaurant on the street level.

 

I was able to speak with one of the owners who bought his condo new and he said that since the restaurant opened, the strong smells of the restaurant are completely filling his place and he says that his place is ruined and that the smell has soaked into everything. I asked if he has complained and he says that he has complained every day since the opening but keeps being passed off and nobody is making it a priority. I am wondering if the developer is invested in the restaurant or if they still own the commercial unit it is located in?? Either way, the restaurant appears to vent directly onto the street and not the roof. I suggested that the condo owner come on here to share his experience and he said that he will. 

 

As for now, I will be steering clear of the Jukebox as this could be a long term problem. It is a shame because I really liked the look of the building. That said, there are so many condos going up in Victoria that there will be other pretty buildings to choose from in the future.

[Rob Randall]

Funny, because the Mosiac, which is a retrofit managed to vent the restaurant to the roof. Don't know why that's not the case here. I guess they never thought a small unit would become a steamy restaurant. Yes, this could be a legal problem as well.

[G-Man]

I would love to be able to smell Ox King all day. Spicy pork tonkotsu is sooooo good there.

[Rob Randall]

I would love to be able to smell Ox King all day.

 

"The Monkey's Paw"

[Mike K.]

There’s positive news on the Ox King front. The developers are working on a solution with the restaurant (a ventilation filter was installed last night as a first step) and tonight they are meeting with homeowners who are experiencing the odours. They’re going to continue working with the residents to get this solved.

[Mike K.]

This weekend’s open house is on Saturday, 1-4PM (no Sunday open house).

[Mike K.]

The dozen deals they’ve had since the re-launch are a nice backdrop to the turn outs they keep getting at the open houses. Nobody else has available inventory priced below $450k in the downtown core at the moment.

[Victoria Watcher]

Developer Fraser McColl of Mosaic and St. Andrew's Square fame, is working on a 6-storey, ~200-unit residential project on a site in the 1000-block of View Street (one property up from the infamous sinkhole intersection).

The project will be marketed at younger buyers, and is planned to be a "funky" (in the words of the developer) concept not unlike the Mosaic.

Previous proposals for the site included two 13-storey towers, then a concept similar to Shoal Point with a ~10-storey base and a 14-storey component was proposed and ultimately canceled.

 

this thing took 9 years i'm just realizing.

[Mike K.]

It sure did. That’s politics for you.