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Azzurro
Uses: rental, commercial
Address: 1950 Blanshard Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 7
Azzurro is a seven storey, mixed-use affordable rental and commercial building developed by the Greater Victor... (view full profile)
Learn more about Azzurro on Citified.ca
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[Downtown Victoria] Azzurro | Rentals, commercial | 7-storeys | Under construction


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#181 qnx

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Posted 16 July 2017 - 11:14 AM

Craigslist ad: https://victoria.cra...6219040739.html

 

From ad:

 

Rents for studio suites range between $862.50-$1100.
Rents for one bedroom suites range between $925-$1600.



#182 Baro

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Posted 16 July 2017 - 11:41 AM

I thought this was supposed to be affordable housing or something, i thought it was subsidized or built by some sort of affordable housing group.


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#183 Nparker

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Posted 16 July 2017 - 12:08 PM

I thought this was supposed to be affordable housing or something

That was certainly how it was being touted:

..A proposal to build 65 units of affordable and moderately priced rental apartments across Blanshard Street from Save-on-Foods Memorial Centre will go to public hearing. The Greater Victoria Rental Development Society wants to build a seven-storey building, to be called the Azzurro, at 1950 Blanshard Street...

http://www.timescolo...aring-1.1213335

 However, the Greater Victoria Rental Development Society (GVRDS) doesn't seem to mandate subsidized housing

...In 2009 GVRDS was registered as a non profit society. Our mission is to develop new build affordable rental and market housing on Vancouver Island for the working people. Our mandate is to provide well built, well managed, non subsidized new apartment units for the lower to middle income families of Greater Victoria. Our hope is to afford low to middle income workers reasonable rent. Our dream is that in providing this they can someday achieve home ownership...



#184 Mike K.

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Posted 16 July 2017 - 12:11 PM

Interesting.

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#185 VicHockeyFan

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Posted 16 July 2017 - 12:17 PM

I thought this was supposed to be affordable housing or something, i thought it was subsidized or built by some sort of affordable housing group.


It is. The province provided $14M in financing (unsure of terms). The City gave them $540M.
<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>

#186 Mike K.

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Posted 16 July 2017 - 12:17 PM

$540M?
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#187 VicHockeyFan

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Posted 16 July 2017 - 12:19 PM

$540k sorry. Shell game. Some other developer paid that in. So, for example, private rents in the Juliet are $15/mo higher, Azurro $15 less. It's hardly worth the cost to shuffle the money around.

Edited by VicHockeyFan, 16 July 2017 - 12:22 PM.

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<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>

#188 Mixed365

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Posted 30 July 2017 - 12:41 PM

"Rents for studio suites range between $862.50-$1100

Rents for one bedroom suites range between $925-$1600"

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#189 Nparker

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Posted 30 July 2017 - 01:23 PM

So it's market rates.



#190 Mike K.

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Posted 30 July 2017 - 01:49 PM

When the project was proposed the targeted rates were noted as $795-$950. Granted, the rates noted by the media may have been solely for bachelor units.


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#191 Nparker

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Posted 30 July 2017 - 01:57 PM

When the project was proposed, the targeted rates were noted as $795-$950...

Were those closer to market rates at the time?



#192 Mike K.

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Posted 30 July 2017 - 01:58 PM

Although that doesn't really make sense, since there are only three studio apartments. The rest are one-bedroom units.

 

From http://gvrds.com/gvrds/project/azzurro

 

"There are 3 studios, 62 small and large one-bedroom units, 13 units have outside patios and 2 units have outside decks."

 

So yeah, prior to starting construction the rates were marketed as $795-$950.


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#193 Mike K.

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Posted 30 July 2017 - 02:00 PM

Were those closer to market rates at the time?

 

Those rates would have reflected below-market apartment values.

 

So we jumped from $795 to $862.50, which isn't bad, but on the upper end it looks like the rates went from $950 to $1,600. That's huge. And that's a one-bedroom unit without parking, only seven floors up (presumably) in what the GVRDS says is an affordable rental complex.


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#194 Kapten Kapsell

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Posted 19 August 2017 - 11:06 AM

Does this building have occupancy now?

#195 DougG

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Posted 22 August 2017 - 03:49 PM

No sign of anyone moving in yet but it will be open for viewing starting this weekend. No in suite laundry. That's a surprise in a new building.

 

What's up with the second floor? It looks like a single common space with no walls. 



#196 sdwright.vic

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Posted 23 August 2017 - 06:26 AM

^Office space
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#197 VicHockeyFan

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Posted 26 August 2017 - 08:29 AM

Complete?

 

More photos:   https://www.facebook...640982495921416

 

21055313_1640981695921496_89892698571935


<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>

#198 Nparker

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Posted 26 August 2017 - 08:35 AM

The addition of the blue panels really helps the aesthetics of an otherwise mostly drab project.



#199 HB

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Posted 26 August 2017 - 02:22 PM

What was the final time line from shovel in the ground to completion it seemed like 3 years

#200 cathawk

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Posted 26 August 2017 - 10:34 PM

The addition of the blue panels really helps the aesthetics of an otherwise mostly drab project.

I have found this development quite interesting overall. It is quite a departure from other developments in the city. I also like the LED lights that are on at night.


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