800 replies to this topic

[2F2R]

I love the way these projects come to life, then, years later .... It's still just talk.
Talk is cheep ...
OK, I'm in Lisbon now ... WOW, what a city. Those who have been here know what I mean.

[Nparker]

Lotta misinformation on Facebook about this. People's general idea seems to be that greedy developers are destroying heritage Victoria buildings to make a quick buck...

I am not surprised. Based on the way the CHEK story was edited even I almost felt that way, and I know what the real deal is...thanks to VV of course! 

[Mike K.]

Fear mongering sells. How do you think real-estate bear market blogs maintain an audience? There's always impending doom ...just around the corner.

 

The folks who can't comprehend basic information can get all knotted up and into a tiff over this, but outside in the real world few have even given it a passing glance. So we're losing a 1950's faux heritage building that's past its prime and which has been sitting vacant for years. The feds disposed of it, a developer bought it, and instead of championing a positive change the misinformed are blowing off steam. Rinse and repeat, Victoria, rinse and repeat

[aastra]

A 1990s remodeling of a 1950s office building. This is a great example of how misguided Victorians can be re: heritage and the city's historic built form. People nobly defend irrelevant stuff but they don't want to make any effort at all to preserve or restore legitimate and uniquely Victorian heritage. They go out of their way to elevate modern crap as if it were something special and denigrate legitimate heritage as if it were garbage.

[aastra]

Long story short, if you care about Victoria's actual historic built form then you should want a fine building there that's worthy of the prominent site. The current (soon to be previous) building wasn't a patch on the original post office building.

Edited by aastra, 28 September 2017 - 08:51 AM.

[johnk]

But, will there be bike racks?

[VicHockeyFan]

A couple MLS listings here:

 

4th floor, 2171 sq. ft. $3,290,000

 

https://www.realtor....Columbia-V8W1W9

 

3rd floor 1710 sq. ft. $2,499,000

 

https://www.realtor....Columbia-V8W1W9

[lanforod]

Perfect for Amazon execs!

[grantpalin]

Wouldn't mind living at that location with those views. Too rich for my blood! Interesting that they both include two parking spaces.

[VicHockeyFan]

1200 sq. ft. $1,619,900 - 6th floor

 

https://www.realtor....Columbia-V8W1W9

[thaicobb]

Based on the three units cited, about $1,350 - 1,500/sq.ft.  All with city rather than water views, so maybe $2,000/sq.ft. is not so outlandish for a one-of-a-kind location with clear harbor views.  Looked at a condo pre-sale in Brooklyn couple of years ago with unobstructed East River view to Manhattan priced at $2,500/sq.ft.  All of it out of my league of course.  Did recently commit to unit in the Yates at about $930/sq.ft. for SW corner of 17th floor.  Figured it was about 12-13% above what equivalent new construction was fetching.  So, could be considered a three year call at +12% striking price.  A similar, or higher,  premium is likely factored into Customs House pricing.

[VicHockeyFan]

Based on the three units cited, about $1,350 - 1,500/sq.ft.  All with city rather than water views, so maybe $2,000/sq.ft. is not so outlandish for a one-of-a-kind location with clear harbor views.  Looked at a condo pre-sale in Brooklyn couple of years ago with unobstructed East River view to Manhattan priced at $2,500/sq.ft.  All of it out of my league of course.  Did recently commit to unit in the Yates at about $930/sq.ft. for SW corner of 17th floor.  Figured it was about 12-13% above what equivalent new construction was fetching.  So, could be considered a three year call at +12% striking price.  A similar, or higher,  premium is likely factored into Customs House pricing.

 

That one sounds like a nice view.

[Mixed365]

Based on the three units cited, about $1,350 - 1,500/sq.ft.  All with city rather than water views, so maybe $2,000/sq.ft. is not so outlandish for a one-of-a-kind location with clear harbor views.  Looked at a condo pre-sale in Brooklyn couple of years ago with unobstructed East River view to Manhattan priced at $2,500/sq.ft.  All of it out of my league of course.  Did recently commit to unit in the Yates at about $930/sq.ft. for SW corner of 17th floor.  Figured it was about 12-13% above what equivalent new construction was fetching.  So, could be considered a three year call at +12% striking price.  A similar, or higher,  premium is likely factored into Customs House pricing.

 

Congrats on your purchase! 

[Mike K.]

Customs House is now 50% sold-out. Not too bad for a project with starting prices at $500k and ranging to above $9 million. - http://victoria.citi...-estate-market/

[MarkoJ]

Cool video -> https://customshouse.ca/video

[Mike K.]

On YouTube: https://www.youtube....tMMrbt3j-k&t=2s

 

[tjv]

Its a beautiful video, but watching it makes me wonder if those views are guaranteed?  What if Ships Point gets redeveloped with 20 storey towers?  That $9 million condo at best is now worth $2 million

[Mike K.]

Why stop at 20? You'd have a much better chance of snagging landing seaplanes at 40.

[Nparker]

...What if Ships Point gets redeveloped with 20 storey towers?...

The day that happens I promise to pay you the loss on the cost of your investment.

[tjv]

^Never say never, I didn't see the slew of high rises being built in this City 20 years ago not by a long shot.  Did you?