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Dominion Rocket Residences
Uses: rental, commercial
Address: 700-block of Yates Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 5
Dominion Rocket Residences is a 97 micro-unit rental building in the former Dominion Hotel at Yates and Blansh... (view full profile)
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Victoria Rocket Residences at the Dominion (Dalton Hotel) | Renovated into rentals in 2015

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445 replies to this topic

#41 Greg

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Posted 27 September 2013 - 06:34 AM

Shocking!! Those numbers just don't add up. Assuming the low rent of $725 at 160 sq ft, that's of course $4.53 per square foot per month. Now, equate that to a typical modern downtown condo of 750 sq ft with in suite laundry, yadda yadda, at $4.53, that would equal a monthly rent of $3,397.50 per month. Right... They'll be lucky to get $450 per month for the smaller suites, very lucky.


It is perhaps useful to think in terms of $/sq.ft. but it is definitely not a linear relationship. It is more like $x for the first sq.ft. then a "diminishing return" sort of curve from that point.

#42 jonny

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Posted 27 September 2013 - 08:09 AM

A friend of mine back in my university days was living in View Towers, and if I recall correctly he was paying in the $600/month range for a bachelor suite there. That certainly is not a modern building, and this was nearly 10 years ago, so I don't think $725/month for what I assume will be a rather modern bachelor apartment downtown is out there at all.

#43 VicHockeyFan

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Posted 27 September 2013 - 08:14 AM

A friend of mine back in my university days was living in View Towers, and if I recall correctly he was paying in the $600/month range for a bachelor suite there. That certainly is not a modern building, and this was nearly 10 years ago, so I don't think $725/month for what I assume will be a rather modern bachelor apartment downtown is out there at all.


Today, View Towers:

Kijiji: $600 - BACHELOR SUITES STARTING AT $600 $600 - BACHELOR SUITES STARTING AT $600
Great views! Secured underground parking. Free heat and hot water. Sorry, NO PETS. Please call building manager 250-383-2269. Bachelor suites start at $600. 1 bedrooms are also available and start at $650.


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#44 Sparky

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Posted 27 September 2013 - 11:32 AM

I would pay the extra $50 for a one bedroom. Either one appears to be good value though.

Remarkable that the rents have not changed much in a decade.

#45 Koru

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Posted 27 September 2013 - 12:20 PM

Shocking!! Those numbers just don't add up. Assuming the low rent of $725 at 160 sq ft, that's of course $4.53 per square foot per month. Now, equate that to a typical modern downtown condo of 750 sq ft with in suite laundry, yadda yadda, at $4.53, that would equal a monthly rent of $3,397.50 per month. Right... They'll be lucky to get $450 per month for the smaller suites, very lucky.


you would be hard pressed to find 4.53 per sf for a rental in Vancouver...that is beyond ridiculous.

and VHF...we could all live in a broom closet if we had too, but I would say 95% of the population would not enjoy it.

#46 Sparky

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Posted 27 September 2013 - 12:33 PM

I have a friend that won't come out of the closet. :)

#47 concorde

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Posted 27 September 2013 - 04:03 PM

you would be hard pressed to find 4.53 per sf for a rental in Vancouver...that is beyond ridiculous.

and VHF...we could all live in a broom closet if we had too, but I would say 95% of the population would not enjoy it.


Reliance Properties that will be doing the Janion, renovated the Burns Block at Hastings and Main in Vancouver, 226sf bachelors rented for $850. One of the worst neighbourhoods in Canada and they got $3.76/sf. While I would never rent either, I would take the Dalton by a mile.

#48 concorde

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Posted 27 September 2013 - 04:11 PM

you would be hard pressed to find 4.53 per sf for a rental in Vancouver...that is beyond ridiculous.

and VHF...we could all live in a broom closet if we had too, but I would say 95% of the population would not enjoy it.


Here is a 1600sf condo in Vancouver for $7600/month or $4.75/sf and I haven't even started looking

http://vancouver.en....4053504881.html

#49 zoomer

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Posted 27 September 2013 - 04:30 PM

/\ Ah, $4.75/sf for the Shangri-la, easily one of the top 5 rental addresses in all of Canada, compared to $4.53 for the 160 square foot closet in the Dalton, well there is no comparison. I'm fairly certain that the Dalton will not come with the following Shangri-la features: spa, pool, and fitness centre, air conditioning, geothermal heating, 3 bathrooms, 1 parking spot, balcony. I'd really like to meet the person who rents a 160 square foot suite for that price.

#50 concorde

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Posted 28 September 2013 - 10:16 AM

/\ Ah, $4.75/sf for the Shangri-la, easily one of the top 5 rental addresses in all of Canada, compared to $4.53 for the 160 square foot closet in the Dalton, well there is no comparison. I'm fairly certain that the Dalton will not come with the following Shangri-la features: spa, pool, and fitness centre, air conditioning, geothermal heating, 3 bathrooms, 1 parking spot, balcony. I'd really like to meet the person who rents a 160 square foot suite for that price.


Ok, and what about $3.76/sf for Main and Hastings, one of the worst areas in North America

#51 zoomer

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Posted 28 September 2013 - 02:20 PM

What building on or near Main and Hastings? I get that a lot of people don't like roommates, but I'd rather combine my $700 with a roommate's 700 and rent a decent $1400 a month place vs a 160 square foot suite.

#52 James Bay walker

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Posted 28 September 2013 - 02:35 PM

good god...the City of Van won't even let a Developer put in units that small unless its classified as a SRO... the smallest Apartment/Condo City of Van will approve is approx. 320sf and for that kinda of price? that's just ridiculous. The small units are smaller than my office.

Victoria's quainter and less moist than Vancouver (so, it may not feel so oppressive living in a breadbox here than it would in rainy city land).

I've lived in an Edmonton YMCA room for a solid month of winter there (I think, 10'x8' = 80 sq.ft.), waiting for a rental apartment elsewhere to be vacated, so it can be done. For a month, anyway. Gotta admit I was starting to crawl up the walls near the end. Mind you 10'x8' was merely a bedroom, nothing else. Washrooms and kitchen were outside that. What would those need, 40 + 40 sq.ft = 80 sq.ft. additional?

Hmm, would be nice to see a 'floor plan' and just how they're divvying up the space --- are there 'shared' washrooms and/or 'shared' kitchens for example?

jbw

editted to add: You must have a hefty sized office (I know of 60 sq.ft. ones, in the Central Bldg).

#53 concorde

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Posted 28 September 2013 - 02:42 PM

What building on or near Main and Hastings? I get that a lot of people don't like roommates, but I'd rather combine my $700 with a roommate's 700 and rent a decent $1400 a month place vs a 160 square foot suite.


Reliance Properties that will be doing the Janion, renovated the Burns Block at Hastings and Main in Vancouver, 226sf bachelors rented for $850. One of the worst neighbourhoods in Canada and they got $3.76/sf. While I would never rent either, I would take the Dalton by a mile.


As I said earlier, Burns Block

#54 James Bay walker

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Posted 28 September 2013 - 03:15 PM

As I said earlier, Burns Block

http://www.vancouver...0004/story.html

Not so terrible looking as a larger living space (though I can never get used to distortion images, where pictures are super 'flattened' a sort of perspective corrected fisheye lens snapshot).

Note the Murphy bed (I used to have a 'bunk bed' (regular extra long mattress & boxspring, hidden by side panels that flipped up during the day) built above my desk area, to achieve a zero footprint sleeping space in a bachelor suite).

jbw

#55 Mike K.

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Posted 28 September 2013 - 04:11 PM

Aren't university dorms literally the size of bedrooms? And some of them have two kids per room.

I think there's a solid market for small upgraded/renovated downtown units in the $700-$900 range. You could get a much bigger space in a 1970's apartment east of downtown, but then that's a different product altogether.

What building on or near Main and Hastings? I get that a lot of people don't like roommates, but I'd rather combine my $700 with a roommate's 700 and rent a decent $1400 a month place vs a 160 square foot suite.


It's quite difficult to find a downtown condo that can adequately serve two individuals at that price unless they can share a bedroom. Most units for that price will be 1BR+den. For two bedrooms you're getting into the $1,600-$1,800 range.

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#56 bluefox

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Posted 28 September 2013 - 08:25 PM

As I said earlier, Burns Block


Sorry to nitpick, but the Burns Block is actually at Hastings and Carrall, two blocks to the west. ;)
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#57 VicHockeyFan

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Posted 29 September 2013 - 07:19 AM

Hmm, would be nice to see a 'floor plan' and just how they're divvying up the space --- are there 'shared' washrooms and/or 'shared' kitchens for example?




HERE ***pdf is the plan.
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#58 sdwright.vic

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Posted 29 September 2013 - 10:06 AM

^ sounds like a awesome way to house hipsters downtown! Great!
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#59 Szeven

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Posted 29 September 2013 - 10:24 AM

^ sounds like a awesome way to house hipsters downtown! Great!


They would need to get 3 beds into 160sq ft to house hipsters though...

#60 Mike K.

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Posted 29 September 2013 - 11:04 AM

You mean three couches :)

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