662 replies to this topic

[Promontory Kingpin]

There seems to be less than 10 units still up for rent in their website, so I'm guessing nearly all of them are gone. 

Good, I want to avoid competing with these guys. Their marketing Realstar team is terrible!! They really do not know how to price things. This of course is beneficial for those who were able to rent at such cheap rates... 1550 for a new build one bedroom with parking?!? 

 

Chard left a lot of money on the table that is for sure. They could have got at least 1750 or more for those units and should not have paid commission to some bullish marketing/sales team that knows very little about the Victoria rental market.

 

Anyhow, it will be nice for all of us progressive landlords to see those ten units get off the market soon   

 

Let the rental rates rise!!

[sdwright.vic]

^Just... wow! 🙁

[Casual Kev]

Good, I want to avoid competing with these guys. Their marketing Realstar team is terrible!! They really do not know how to price things. This of course is beneficial for those who were able to rent at such cheap rates... 1550 for a new build one bedroom with parking?!? 

 

Chard left a lot of money on the table that is for sure. They could have got at least 1750 or more for those units and should not have paid commission to some bullish marketing/sales team that knows very little about the Victoria rental market.

 

Anyhow, it will be nice for all of us progressive landlords to see those ten units get off the market soon 

 

Let the rental rates rise!!

 

There's the V1488 on Pandora which is still asking $1650-$1750 for a 1-bed with parking, and the building is fancier with more amenities than Yello. The cheaper 1-beds on Yello are also pretty small at 495 sqft, and they get more expensive as you go up in floors. From what I remember, a 540 sqft mid-floor unit was $1450, so with parking $1625. 

 

I also looked up the Hudson buildings, and they just charged $1510 for a 12th floor 620 sqft unit with parking at the Mews and $1525 for a 560 sqft unit at Walk One, also with parking. Aaand for whatever it's worth, when I was first browsing for a place last month there were a decent number of new-ish condo studios and junior 1-beds sized at 450-490 sqft for ~$1250-1350, sans parking. 

 

So I think Yello did charge what should be expected from a new rental downtown that's not exceedingly lavish. 

[G-Man]

Good, I want to avoid competing with these guys. Their marketing Realstar team is terrible!! They really do not know how to price things. This of course is beneficial for those who were able to rent at such cheap rates... 1550 for a new build one bedroom with parking?!?

Chard left a lot of money on the table that is for sure. They could have got at least 1750 or more for those units and should not have paid commission to some bullish marketing/sales team that knows very little about the Victoria rental market.

Anyhow, it will be nice for all of us progressive landlords to see those ten units get off the market soon

Let the rental rates rise!!

Where are you building?

[VicHockeyFan]

Good, I want to avoid competing with these guys. Their marketing Realstar team is terrible!! They really do not know how to price things. This of course is beneficial for those who were able to rent at such cheap rates... 1550 for a new build one bedroom with parking?!? 

 

Chard left a lot of money on the table that is for sure. They could have got at least 1750 or more for those units and should not have paid commission to some bullish marketing/sales team that knows very little about the Victoria rental market.

 

Anyhow, it will be nice for all of us progressive landlords to see those ten units get off the market soon 

 

Let the rental rates rise!!

 

Chard is not involved in the building after completion, he's not renting anything.

[sdwright.vic]

Where are you building?

I think he's a multi condo owner who rents... and reason number two on why I would never rent from an individual owner.

[Promontory Kingpin]

There's the V1488 on Pandora which is still asking $1650-$1750 for a 1-bed with parking, and the building is fancier with more amenities than Yello. The cheaper 1-beds on Yello are also pretty small at 495 sqft, and they get more expensive as you go up in floors. From what I remember, a 540 sqft mid-floor unit was $1450, so with parking $1625. 

 

I also looked up the Hudson buildings, and they just charged $1510 for a 12th floor 620 sqft unit with parking at the Mews and $1525 for a 560 sqft unit at Walk One, also with parking. Aaand for whatever it's worth, when I was first browsing for a place last month there were a decent number of new-ish condo studios and junior 1-beds sized at 450-490 sqft for ~$1250-1350, sans parking. 

 

So I think Yello did charge what should be expected from a new rental downtown that's not exceedingly lavish. 

I appreciate that insight Kev!

 

After looking at floor plans of both V1488 and Yellow on Yates I would not say that V1488 is fancier. They are both probably on a similar level. I actually prefer Yellow overall. The cabinetry at V1488 and finishing's look so-so. With that said I must disclose that I have not been to either show rooms, and you have!

 

Yellow on Yates is by far in a more superior neighbourhood. It's closer to the core and not on bad reputation Pandora. However, I am looking forward to what appears to be a revitalization of upper Pandora given all the stellar developments that are currently happening.

 

You must take into consideration that location, location, location is definitely worth something. The location of Yellow is the best of all three areas/developments that you mentioned. I would also expect a premium for a Chard building. Although appears Chard is slapping their name on anything nowadays, so that may change. Even Bosa differentiates itself from its mid level rental developments (Bluesky). You'll notice that they don't put Bluesky on there high end rentals. Check out 1108 Pendall in Vancouver!

[Promontory Kingpin]

Chard is not involved in the building after completion, he's not renting anything.

Is Yellow not a Chard owned building VHF? Did someone just commission them to develop a 209 rental unit building??

 

I'm pretty sure on an earlier post it was said that Chard bought the lot off the Dubai developer who built the Burj Khalifia 

[VicHockeyFan]

Is Yellow not a Chard owned building VHF? Did someone just commission them to develop a 209 rental unit building??

 

I'm pretty sure on an earlier post it was said that Chard bought the lot off the Dubai developer who built the Burj Khalifia 

 

Chard started building in, then a large a rental management company agreed to take it off their hands (buy it out). But well before completion.

Edited by VicHockeyFan, 27 May 2018 - 04:57 PM.

[Promontory Kingpin]

This page is lit tonight!!   

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[Mike K.]

Correct, Chard built the complex but Realstar now owns it.

It’s a very nice building.

[Promontory Kingpin]

Correct, Chard built the complex but Realstar now owns it.

It’s a very nice building.

Wow! I wonder what kind of an offer was made to let Chard let a huge building like this go for? Maybe Realstar plans on selling each unit off as condos down the road. Although I'm sure there is some sort of a clause with the city saying that cannot happen for X number of years.

 

Mike K, in your opinion which building is nicer, Yellow on Yates or V1488?

[Mike K.]

Both are great buildings and each has its own unique aspects. I wouldn’t say one is better than the other.

[Rob Randall]

Mike is the tactful dad that says he loves all his children equally.

[Promontory Kingpin]

Mike is the tactful dad that says he loves all his children equally.

Apparently not VHF... I wonder what happened here..? I never knew that one of the founders of VV could get suspended.

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Edited by Promontory Kingpin, 27 May 2018 - 07:47 PM.

[Casual Kev]

I appreciate that insight Kev!

 

After looking at floor plans of both V1488 and Yellow on Yates I would not say that V1488 is fancier. They are both probably on a similar level. I actually prefer Yellow overall. The cabinetry at V1488 and finishing's look so-so. With that said I must disclose that I have not been to either show rooms, and you have!

 

Yellow on Yates is by far in a more superior neighbourhood. It's closer to the core and not on bad reputation Pandora. However, I am looking forward to what appears to be a revitalization of upper Pandora given all the stellar developments that are currently happening.

 

You must take into consideration that location, location, location is definitely worth something. The location of Yellow is the best of all three areas/developments that you mentioned. I would also expect a premium for a Chard building. Although appears Chard is slapping their name on anything nowadays, so that may change. Even Bosa differentiates itself from its mid level rental developments (Bluesky). You'll notice that they don't put Bluesky on there high end rentals. Check out 1108 Pendall in Vancouver!

 

Admittedly I don't have much of an eye for finishes, if it looks new and sleek I'll be fooled if the stuff is of inferior quality lol, and V1488's bigger emphasis on glass and walkaways makes it seem fancier. And they do seem to offer more amenities like personal bike racks, a playground, a swagged out atrium and apparently an inordinate emphasis on CCTV. I do agree that Yello is better located but only marginally; V1488 is a bit closer to the homeless/addict hangouts but it's also right at the edge of the CBD with less nighttime noise/bustle. Both of them are technically located in the same neighborhood.

[Mike K.]

Which building do you prefer, PK?

And VHF was a founder of VV?

[Promontory Kingpin]

These are both good quality rental buildings that will attract the right type of people to help clean up downtown.

 

If I were to personally choose to live in one of these buildings then I would go with Yellow on Yates. It's slightly nicer overall and in a better location. With that said I believe that V1488 does the City of Victoria a greater service. It's one of the necessary buildings that will add another nail in the coffin for the notorious 900 block of Pandora. 

[Promontory Kingpin]

Should this page now be removed from the Major Projects Underway tab as it has now been complete?? Also why do some projects have a heart in the top corner while others do not??

[Jackerbie]

A sign permit was issued this week for Anytime Fitness

 

Anytime Fitness is an international chain of gyms, and currently has two locations in Victoria at Tillicum Mall and behind Saanich Centre

Edited by Jackerbie, 25 October 2018 - 03:40 PM.