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Affordable housing in Victoria


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#961 sebberry

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Posted 13 May 2018 - 12:55 PM

Who even thinks this is remotely possible?

 

The same people who think the 800 block of Johnson and 900 block of Pandora are the sign of successfully helping the homeless?


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#962 VicHockeyFan

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Posted 13 May 2018 - 01:21 PM

I can put your 2010 new units right at McKenzue and Quadra. All I’ve them, easily. Right on a couple fantastic bus routes. I buy the Jawl building or a portion of the property, Telus property and the Saanich works yard. Bang! I build 10 buildings and we are we are done.

Edited by VicHockeyFan, 13 May 2018 - 01:23 PM.

<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#963 sebberry

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Posted 13 May 2018 - 01:26 PM

No thanks, getting out of my office parking lot is already a pain in the afternoons :P 

 

Why must this be in the CRD?


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#964 VicHockeyFan

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Posted 13 May 2018 - 01:27 PM

Saanich can be given money to “decentralize” their works yard by building 3 to 12 vehicle garages and shops at several parks. Cadboro Bay, Mt. Doug and Layritz.

Edited by VicHockeyFan, 13 May 2018 - 01:28 PM.

<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#965 VicHockeyFan

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Posted 13 May 2018 - 01:46 PM

Also, as the home builders guy says, 2000 units is only a 1% increase in overall stock, won’t have much effect.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#966 NinVic

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Posted 13 May 2018 - 02:02 PM

Who even thinks this is remotely possible?

No me.  This money is like 20 to 25% of the money needed, rest will be mortgaged.. so it is a start but I'd like to see where they will find the land, labour and welcoming neighbourhood.



#967 sdwright.vic

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Posted 13 May 2018 - 02:58 PM

As I said yes at today's price if things were purchased today. However, as I said most building are owned by the same for at least a decade. Taking average suite price way down.

As well most of the suites truly have no value for much longer because according to Citified they all need torn down
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#968 sdwright.vic

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Posted 13 May 2018 - 03:03 PM

Buy an old rental apartment building and you will pay over @200k per suite today anywhere in the core.

Here is a 39 unit apartment building in Esquimalt for sale

Not even worth what they are asking....

Total Value
Assessed as of July 1st, 2017 $3,799,000
Land/ Buildings
$1,278,000/ $2,521,000

Previous Year Value

Land/ Buildings
$3,285,000/ $1,181,000

$2,104,000

Edited by sdwright.vic, 13 May 2018 - 03:03 PM.

Predictive text and a tiny keyboard are not my friends!

#969 VicHockeyFan

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Posted 13 May 2018 - 03:12 PM

Why must this be in the CRD?

 

Because CRD taxpayers are forking out 1/3 of the money.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#970 sdwright.vic

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Posted 13 May 2018 - 03:18 PM

BC Assessment also says it's only 26 suites. The suites there are going to be in the $800 a month range.

Overall a horrible investment unless it was to knock it down
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#971 VicHockeyFan

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Posted 13 May 2018 - 03:21 PM

I can put your 2010 new units right at McKenzue and Quadra. All I’ve them, easily. Right on a couple fantastic bus routes. I buy the Jawl building or a portion of the property, Telus property and the Saanich works yard. Bang! I build 10 buildings and we are we are done.

 

screenshot-www.google.ca-2018.05.13-17-20-12.png

 

Same scale.

 

screenshot-www.google.ca-2018.05.13-17-15-33.png


Edited by VicHockeyFan, 13 May 2018 - 03:25 PM.

<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#972 VicHockeyFan

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Posted 13 May 2018 - 03:24 PM

No thanks, getting out of my office parking lot is already a pain in the afternoons :P

 

The 2,500 people living here, well, first of all, at least 600 do not have cars.  And the other 1,900 are drop in the bucket traffic wise, compared to what Quadra and McKenzie take each day.  


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#973 Nparker

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Posted 13 May 2018 - 03:36 PM

....I'd like to see where they will find the land, labour and welcoming neighbourhood.

These are the parts I find the most fantastical.



#974 VicHockeyFan

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Posted 13 May 2018 - 03:51 PM

The labour is there if developers and construction companies can make more money building these with less risk than what they displace. But then you might question why involve taxpayer money.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#975 LJ

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Posted 13 May 2018 - 07:22 PM

All of the buildings will include a mix of housing, including the market ones. There will be $375/month rentals within market buildings. That’s the current plan, anyway. The unit interiors will be virtually identical across the board.

And that is where the conflict will occur. Why would I want to pay $1500 a month when I can get a unit paid for by the taxpayer for free. The below market rentals should be a big step down in components, size, and finishing, and the welfare ones should be a marked step down from that. If the welfare guy sees what he can get if he goes out and works a little that might be some incentive for him to do just that. Same for the below market rate guy, if he sees he can get a much nicer, bigger apartment if he ups his skills or work a little overtime he just might do that. 


Life's a journey......so roll down the window and enjoy the breeze.

#976 VicHockeyFan

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Posted 13 May 2018 - 07:28 PM

If only it worked that way. Pacifica and BC Housing units have some of the highest square footages of all the rental housing around.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#977 LJ

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Posted 13 May 2018 - 07:29 PM

But you agree that is the way it should work?


Life's a journey......so roll down the window and enjoy the breeze.

#978 VicHockeyFan

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Posted 13 May 2018 - 07:32 PM

Of course it should. It’s a massive mistake putting these $375/mo. guys into the Super 8 and Tally Ho conversions.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#979 tjv

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Posted 13 May 2018 - 08:46 PM

Not even worth what they are asking....

Total Value
Assessed as of July 1st, 2017 $3,799,000
Land/ Buildings
$1,278,000/ $2,521,000

Previous Year Value

Land/ Buildings
$3,285,000/ $1,181,000

$2,104,000

then you show me where you can get apartment buildings for say 100k per suite.  I gave you 2 examples of asking prices over 200k per suite

 

And you must know BC Assessment means absolutely nothing.  Go and make an offer on a house anywhere in town and refer to the assessed value and see where it gets you.  I'll warn you now, be prepared for a lot of laughter



#980 tjv

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Posted 13 May 2018 - 09:01 PM

recent sales of apartment buildings in Victoria

 

Address                                         Total price       per door          date

2925 Qu’Appelle Street Victoria    $6,050,000    $183,333       Nov 2017

1555 Jubilee Avenue Victoria        $5,250,000    $250,000      Oct 2017

1510 Clive Drive Victoria               $9,185,000    $540,294       Aug 2017 (this is a new luxury building)

2181 Haultain Street Victoria         $8,450,000    $216,667       Aug 2017



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