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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)
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[Downtown Victoria] Azzurro | Rentals, commercial | 7-storeys | Under construction


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#41 Nparker

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Posted 25 October 2014 - 06:48 PM

...Not sure there is actually a huge demand in this part of town and it takes a long time to recoup the $50k per spot cost.

Regardless of demand, if one assumes public parking at this site would fetch about the same rate as the Centennial Square Parkade ($115.50/month) it would take 36 years to recover the $50,000 cost/parking spot. Even at the most expensive city parking rate (Johnson Street Parkade, $199.50/month) it would still take nearly 21 years to recoup the cost of just one spot.



#42 dasmo

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Posted 25 October 2014 - 09:47 PM

how do you get 50k/ spot? I'm just curious...

#43 dasmo

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Posted 25 October 2014 - 10:23 PM

Especially when you have developments like the promentory selling spots for 12k? Or the Mondrian for 15k? Era 35k? Anyway, I am not talking about the VicWest dev but the downtown one.

#44 Mike K.

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Posted 26 October 2014 - 08:16 AM

Its probably closer to $15k-$20k a spot for two levels of underground parking, which would likely yield about 50 spots, maybe? The only way to make something like that viable is to build surface parking or above ground parking with residential floors above.

There are all sorts of security issues to take into consideration as well that would make public parking in a residential building a little tricky, but still, I'm not sure if people who rent subsidized units don't Have or want cars. Every co-op, every low rent apartment is chock full of vehicles.

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#45 D.L.

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Posted 26 October 2014 - 08:19 AM

how do you get 50k/ spot? I'm just curious...

 

http://www.timescolo...dings-1.1466174

 

"Underground parking spaces add about $50,000 to the cost of each unit."



#46 Mike K.

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Posted 26 October 2014 - 08:26 AM

Hmm, something is different at that particular site perhaps but $50k is the highest I've ever heard of.

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#47 dasmo

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Posted 26 October 2014 - 08:34 AM

Exactly Mike. Them saying they don't need parking because the renters won't have cars is simply BS...

#48 dasmo

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Posted 26 October 2014 - 08:37 AM

And I smell BS on the 50k too....even the Era is charging 35K for parking and they had to levitate som vintage bricks during construction!

#49 dasmo

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Posted 26 October 2014 - 08:43 AM

Just read the article again. It looks like the Azzurro will have parking, just not for the residents. So I'm all good...

#50 gumgum

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Posted 26 October 2014 - 08:58 AM

Let the expansion of downtown begin.
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#51 Coreyburger

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Posted 26 October 2014 - 10:57 AM

And I smell BS on the 50k too....even the Era is charging 35K for parking and they had to levitate som vintage bricks during construction!

 

Depends on the soils and/or rock. Can vary widely, but the costs only increase the deeper you go.

Here is some dated information on costs  http://www.vtpi.org/tca/tca0504.pdf


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#52 dasmo

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Posted 26 October 2014 - 12:51 PM

"It adds 50k to the cost" as in the cost to the consumer, as in the price... Not 50k to the expense of building. They are building parking anyway so I'm satisfied...

#53 D.L.

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Posted 26 October 2014 - 12:54 PM

Looks like a slightly updated design

 

victoria-1950blanshardst-03.jpg



#54 Coreyburger

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Posted 26 October 2014 - 01:41 PM

"It adds 50k to the cost" as in the cost to the consumer, as in the price... Not 50k to the expense of building. They are building parking anyway so I'm satisfied...

 

Underground parking also has another unintended side effect: dumping of marine clay on productive agricultural land (this is what happened to the old Babe Honey Farm site).



#55 dasmo

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Posted 26 October 2014 - 03:14 PM

That has nothing to do with underground parking and everything to do with either an idiotic or criminal handling of the material....
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#56 Coreyburger

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Posted 26 October 2014 - 09:09 PM

That has nothing to do with underground parking and everything to do with either an idiotic or criminal handling of the material....

 

Not criminal, but the point is that the excavation is required mostly for parking, so minimum parking requirements are having unintended environmental impacts elsewhere.



#57 Bingo

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Posted 26 October 2014 - 09:57 PM

Interesting...I never realized that piece of road is Blanshard, and the boulevard shown in the design separates that road from the rest of Blanshard.

The design shows that the large trees that are planted in the boulevard have been removed. Is that going to happen?



#58 D.L.

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Posted 27 October 2014 - 12:25 AM

I think the trees are excluded from the rendering because otherwise it would just be a rendering of a bunch of trees


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#59 Koru

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Posted 27 October 2014 - 06:51 AM

Hmm, something is different at that particular site perhaps but $50k is the highest I've ever heard of.

50k is high, but not close to being unheard of. Downtown Vancouver parking can easily hit close to 50k for 2 levels of underground depending on ground conditions, it can hit a lot higher the further down you go.

 

Albiet I'm not involved in Construction in Victoria anymore, the cheapest you might be able to build below grade parking in Vancouver is around 20k a stall (you are very, very lucky to hit that) the average ranges between 30k and 40k per stall.


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#60 Mike K.

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Posted 27 October 2014 - 07:34 AM

Oh I'm sure the costs vary from one jurisdiction to another, but $50k in Victoria is extremely high.

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