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1011 Burdett
Uses: condo, townhome
Address: 1011 Burdett Avenue
Municipality: Victoria
Region: Urban core
Storeys: 4
Condo units: (1BR, 2BR)
Sales status: sold out / resales only
1011 Burdett (formerly known as The 1011) is a four storey, 32 condo and four townhome development situated in... (view full profile)
Learn more about 1011 Burdett on Citified.ca
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[Fairfield] 1011 Burdett | 32 condos; 4 townhomes | Completed - built in 2015

Condo

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151 replies to this topic

#121 Mixed365

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Posted 24 January 2016 - 01:56 PM

In addition, they also seem to have changed their website. 

http://1011burdett.com/


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#122 MarkoJ

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Posted 24 January 2016 - 10:01 PM

9 units left.  They 22 units relatively quickly over the summer/fall as the market picked up and everything else sold out (Duet, 200 Douglas, etc.)


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www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#123 Daveyboy

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Posted 25 January 2016 - 07:24 AM

I would guess that tent city so close by has not helped sales of the ground floor units in this building.



#124 Mike K.

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Posted 25 January 2016 - 10:16 AM

9 units left.  They 22 units relatively quickly over the summer/fall as the market picked up and everything else sold out (Duet, 200 Douglas, etc.)

 

That's so strange. Last fall a family friend bought one of the units and he said he was under the impression that there were only 2-3 units left at the time of his purchase. And he's a real-estate guy, not sure why he'd be off by that much.


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#125 Kapten Kapsell

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Posted 25 January 2016 - 10:54 AM

That's so strange. Last fall a family friend bought one of the units and he said he was under the impression that there were only 2-3 units left at the time of his purchase. And he's a real-estate guy, not sure why he'd be off by that much.

Perhaps some of the contracts to purchase units were cancelled by buyers?

 

The Falls on Douglas was originally 100% presold but several pre-sale buyers backed out during the financial crisis, leading to unsold units that the developer had to unload at 'fire sale' prices.

 

Perhaps that experience is what led Westbank to ultimately 'abandon' the Victoria market?  They haven't had any projects locally since then (despite several big ones in Vancouver)...



#126 Mike K.

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Posted 25 January 2016 - 10:59 AM

They had a few other ideas on the go but the financial crisis put those projects on hold and they were eventually cancelled. That and the lawsuits against them certainly did Westbank no favours locally.


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#127 MarkoJ

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Posted 26 January 2016 - 12:46 PM

Maybe they only had 2-3 two bedroom units left.  All they have left is one bedroom and the townhomes which have been difficult to move but they just sold one the other day.


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www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#128 Kapten Kapsell

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Posted 26 January 2016 - 01:54 PM

Marko, do you think that part of the challenge with these townhomes is related to the Strata Fees?  I know that strata fees for townhouses in high-rise projects in Vancouver can be very high compared to wood-framed 'townhouse only' projects (similar to the ones popular locally on Shelbourne).  Part of the problem is that fees seem to be higher in the elevator buildings... whilst townhome residents are paying for things they don't use (elevators, front entrances, etc)?



#129 thundergun

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Posted 26 January 2016 - 03:21 PM

^ As a recent townhome purchaser in a non-elevator building, with Marko as my realtor, I can say this is definitely something I considered. Thought about checking out a unit in the Promontory and was amazed at what they were asking for strata fees.

 

Also, these units on Burdett only had one set of windows, which are North facing which didn't help their relatively high asking price.



#130 lanforod

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Posted 26 January 2016 - 03:54 PM

Yes, townhouse + apartment building mixed developments really should have a way to classify townhouse square footage differently so that the townhouses pay a fair amount of strata fees compared to apartments.



#131 MarkoJ

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Posted 26 January 2016 - 05:59 PM

Marko, do you think that part of the challenge with these townhomes is related to the Strata Fees?  I know that strata fees for townhouses in high-rise projects in Vancouver can be very high compared to wood-framed 'townhouse only' projects (similar to the ones popular locally on Shelbourne).  Part of the problem is that fees seem to be higher in the elevator buildings... whilst townhome residents are paying for things they don't use (elevators, front entrances, etc)?

 

The townhomes at Bayview were a huge struggle to sell (strata fees now around $1,000 per month), the Promontory townhomes were also such a struggle to the point where BOSA scrapped all townhomes at the Encore.  Is it fee related? Somewhat.

 

I also haven't seen very many well designed tower/condo incorporated townhomes in Victoria.  For example, the Promontory townhomes didn't have interior building access (you needed to park in the parkade, go up to the lobby, go out, walk around the front and into your unit), the privacy is horrible, etc., etc.

 

That being said you get killed on the strata fees.  For example, if a 500 sq/ft unit at the Promontory on the 17th floor needs an expensive window replacement the townhome owners is paying three times as much for that window replacement as the 500 sq/ft condo.  Basically you get stuck paying large condo maintenance fees but you live in a townhome.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#132 MarkoJ

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Posted 26 January 2016 - 06:00 PM

Yes, townhouse + apartment building mixed developments really should have a way to classify townhouse square footage differently so that the townhouses pay a fair amount of strata fees compared to apartments.

 

This would be fair, but potentially complicated and source for litigation/arguments.


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www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#133 lanforod

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Posted 26 January 2016 - 08:35 PM

It is certainly something that has been broken for a long time. Retractively fixing it is probably a no go for those litigation reasons etc., but if a new development sets their bylaws correctly to start, why couldn't they just make it fair?



#134 Rob Randall

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Posted 26 January 2016 - 08:44 PM

The townhomes at Bayview were a huge struggle to sell (strata fees now around $1,000


Holy crap, my mortgage AND strata at the Mosaic were $425. I'd be interested to see their budget to see where that money is going must be a big contingency and landscaping.

Strata fees are too often overlooked when budgeting for a condo buy. When it is a new building it is tricky because the fees are only an estimate.

#135 lanforod

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Posted 26 January 2016 - 08:50 PM

Holy crap, my mortgage AND strata at the Mosaic were $425. I'd be interested to see their budget to see where that money is going must be a big contingency and landscaping.

Strata fees are too often overlooked when budgeting for a condo buy. When it is a new building it is tricky because the fees are only an estimate.

And that estimate is almost always too low.



#136 MarkoJ

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Posted 26 January 2016 - 11:18 PM

It is certainly something that has been broken for a long time. Retractively fixing it is probably a no go for those litigation reasons etc., but if a new development sets their bylaws correctly to start, why couldn't they just make it fair?

 

In my real estate career I've never seen anything other than unit entitlement based on the strata plan square footage, or 100% equal unit entitlement.  There is a condo complex on Jacklin Road in Langford where all the units pay the exact same strata fee irrelevant of size or whether 1 bedroom or two bedroom.  Also the latest phase of townhome at the Railyards had 100% equal unit entitlement even though the townhomes varied in size.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#137 Baro

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Posted 27 January 2016 - 08:42 AM

I wish we built proper row-houses again.  1 house, 1 lot, no strata.  Why isn't this more common?  The full ownership of a house, just with 0 side setbacks.


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#138 MarkoJ

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Posted 27 January 2016 - 09:39 AM

I wish we built proper row-houses again.  1 house, 1 lot, no strata.  Why isn't this more common?  The full ownership of a house, just with 0 side setbacks.

 

I wish too....that would be awesome.  City council wouldn't approve?


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#139 G-Man

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Posted 27 January 2016 - 12:32 PM

I think that they would approve so long as fire code was met.

 

It is more than likely that the extra effort for a developer is the issue. They would have to amass a lot of land and then subdivide it smaller than they would have bought it. This would be a lot of paper work and likely the banks would consider each house as a separate loan. Instead with town houses the developers consolidates land and then apply to the bank for one loan, build, sell and are done. 


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#140 Mixed365

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Posted 27 January 2016 - 12:44 PM

I wish we built proper row-houses again.  1 house, 1 lot, no strata.  Why isn't this more common?  The full ownership of a house, just with 0 side setbacks.

What is the difference between row-houses and townhouses? 


“To understand cities, we have to deal outright with combinations or mixtures of uses, not separate uses, as the essential phenomena.”
- Jane Jacobs 


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