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CANCELLED
Speed and Frances, west tower
Uses: condo, commercial
Address: 606 Speed Avenue
Municipality: Victoria
Region: Urban core
Storeys: 12
Condo units: 83 (loft, 1BR, 2BR)
Sales status: in planning
Speed and Frances, west tower, is a 12-storey residential building with 83 condos, six townhomes and ground fl... (view full profile)
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[Burnside/Gorge] Speed and Frances towers | condos; commercial | 12 & 12-storeys | Cancelled


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255 replies to this topic

#221 Robb

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Posted 24 September 2016 - 08:53 AM

Is $11.8 million realistic for this property?  Does that asking price make only a project of the proposed scale economically feasible?

 

I'm worried that nothing is ever going to happen with this land.



#222 Nparker

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Posted 24 September 2016 - 09:02 AM

...I'm worried that nothing is ever going to happen with this land.

Ditto.



#223 Mike K.

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Posted 28 September 2016 - 02:55 PM

It's definitely high, that's for sure. But who knows. This could be a sign of things to come.

 

I mean the Motel 8 property just sold for $6.5 million and it has an old hotel and a surface parking lot going for it.


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#224 Nparker

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Posted 28 September 2016 - 03:32 PM

...the Motel 8 property just sold for $6.5 million and it has an old hotel and a surface parking lot going for it.

And a buyer with deep pockets desperate to look good before an election. I am not sure this is indicative of "fair market value".



#225 smartstart

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Posted 29 September 2016 - 11:22 AM

I was told that it works at 8 million.



#226 Kapten Kapsell

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Posted 11 October 2017 - 08:36 AM

Did this development/proposal ever find a buyer?  It certainly wouldn't be a bad time to invest in this site given the hot housing market and the redevelopment of Mayfair...


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#227 Kapten Kapsell

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Posted 17 November 2017 - 03:31 PM

Well I guess they found a buyer, there's an application for a development permit (with variance) with the city now.

Architect:  Praxis

Units:  166 apartments, 10 townhouses, ground-floor commercial



#228 Nparker

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Posted 17 November 2017 - 04:09 PM

Any renderings?



#229 Jackerbie

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Posted 17 November 2017 - 04:26 PM

Any renderings?

 

Not yet. Here's the Dev Tracker folder: https://tender.victo...Number=DPV00059

 

Based on the substantially increased unit count (83 to 166), I imagine that the variance is for height. The zone allows for up to 37 m.



#230 Nparker

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Posted 17 November 2017 - 04:28 PM

...Based on the substantially increased unit count (83 to 166), I imagine that the variance is for height...

And of course height is the thing that scares Council the most. :whyme:



#231 Kapten Kapsell

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Posted 17 November 2017 - 06:04 PM

Not yet. Here's the Dev Tracker folder: https://tender.victo...Number=DPV00059

Based on the substantially increased unit count (83 to 166), I imagine that the variance is for height. The zone allows for up to 37 m.


I thought perhaps it was 83 units per tower (to 166)?

#232 Mike K.

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Posted 17 November 2017 - 07:01 PM

That’s right, 83 per tower as per the last plans.
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#233 Kapten Kapsell

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Posted 17 November 2017 - 09:07 PM

Mike do we know who the developer is for this project...? Since the site was recently for sale, I assume that it might be someone different vs the original proponent?

#234 Jackerbie

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Posted 21 November 2017 - 12:28 PM

Plans aren't up yet, but the cover letter is now on the Dev Tracker. Changes from the original submission include:

 

- underground parking reduced from 2 levels to 1, due to poor soil conditions

- additional surface parking

- reduced commercial space

- no vehicle access from Speed Street

- 8 additional 3-bedroom units for affordable housing

- full balconies on tower units


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#235 Mike K.

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Posted 21 November 2017 - 12:59 PM

Mike do we know who the developer is for this project...? Since the site was recently for sale, I assume that it might be someone different vs the original proponent?

 

Right! The project was originally marketed for sale by CBRE and my contact there says that CushWake took over the project, so he's unfamiliar with who may have purchased it.

 

The original proponent was Oakwood Park Estates. I don't know if they are still involved with the project.


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#236 G-Man

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Posted 21 November 2017 - 06:30 PM

Plans aren't up yet, but the cover letter is now on the Dev Tracker. Changes from the original submission include:

- underground parking reduced from 2 levels to 1, due to poor soil conditions
- additional surface parking
- reduced commercial space
- no vehicle access from Speed Street
- 8 additional 3-bedroom units for affordable housing
- full balconies on tower units


Without a picture you can't do much worse than that to make it sound like things have not improved. Surface parking and less commercial space?!
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Visit my blog at: https://www.sidewalkingvictoria.com 

 

It has a whole new look!

 


#237 Nparker

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Posted 21 November 2017 - 06:54 PM

Without a picture you can't do much worse than that to make it sound like things have not improved. Surface parking and less commercial space?!

And the image that accompanies this thread suggests that unless some drastic re-design has taken place, the aesthetic will be straight out of the 1970s.



#238 Kapten Kapsell

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Posted 22 November 2017 - 06:11 PM

F4959970-4A3D-4C85-9285-BE08BD02409C.jpeg

Plans are on Dev Tracker now... these elevations show that the design did not change much...

#239 Jackerbie

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Posted 22 November 2017 - 07:31 PM

^ Hopefully that means it will go through staff and council quickly.


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#240 Lou_76

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Posted 22 November 2017 - 08:47 PM

Get 'er built! 



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