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UNDER CONSTRUCTION
Customs House
Uses: condo, commercial
Address: 816 Government Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 7
Condo units: 57 (1BR, 2BR, 3BR, penthouse)
Sales status: pre-sales
The Customs House development encompasses a full restoration of the historic Customs House building at Wharf a... (view full profile)
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[Downtown Victoria] Customs House | Condos; commercial | 7- & 5-storeys | Under construction


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674 replies to this topic

#641 punk cannonballer

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Posted 27 September 2021 - 12:10 PM

I suspect they may develop more of a seagull texture to them.


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#642 Vin

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Posted 27 September 2021 - 02:24 PM

I say the roof line would look even better if it were sloped back.



#643 Nparker

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Posted 27 September 2021 - 02:28 PM

More in keeping with the old post office.


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#644 Glen

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Posted 09 October 2021 - 04:21 PM

I'm surprised "Torrontes" hasn't posted ......buyers should have done their homework.  All the details are and were available.  It's all good



#645 Barrrister

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Posted 09 October 2021 - 09:10 PM

This project seems to have some trouble selling out. I am wondering if the location over the last few years has simply become less desirable?



#646 qv

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Posted 10 October 2021 - 09:47 PM

This project seems to have some trouble selling out. I am wondering if the location over the last few years has simply become less desirable?


I'm guessing it has more to do with price.

Their website says "Victoria’s Most Exclusive Harbourview Residences from $2.9 million"


How many people are in the market for a $3M condo in Victoria?

#647 Victoria Watcher

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Posted 11 October 2021 - 03:40 AM

thousands of people have vacation homes here.

we need a few with large budgets.

#648 Sparky

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Posted 11 October 2021 - 04:09 AM

This project seems to have some trouble selling out. I am wondering if the location over the last few years has simply become less desirable?


In a word “Pandemic”. These homes were not built for some smuck from Oak Bay wanting to move up in the world. This “commodity” is intended for the filthy rich from all over the planet.

Covid has hampered sales here just like it did at the international marina.

No travel…no sale.

#649 Mike K.

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Posted 11 October 2021 - 06:32 AM

There’s just a handful of units remaining and they’ll sell once they’re move-in ready. There are always units available upon completion, if you sell right, and Victoria is a market that responds very well to move-in ready inventory.

Quite a few sales also went to local downsizers who had no comparables to Customs House in the local market when considering a condo as their next home.

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#650 Victoria Watcher

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Posted 11 October 2021 - 06:39 AM

i don't suppose barrister wants to move downtown?   :rtfm:


Edited by Victoria Watcher, 11 October 2021 - 06:39 AM.


#651 Mike K.

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Posted 11 October 2021 - 06:52 AM

thousands of people have vacation homes here.

we need a few with large budgets.


In the City of Victoria 609 properties paid the spec tax according to 2019 data.

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#652 Barrrister

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Posted 11 October 2021 - 08:16 AM

I dont even want to go downtown much less live there. I am sure lots love it but downtown in my view is turning into a shithole. 


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#653 Victoria Watcher

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Posted 11 October 2021 - 08:29 AM

In the City of Victoria 609 properties paid the spec tax according to 2019 data.

 

I'm sure most people with family or friends here find a simple work-around for that.  there also appears to be no penalties for fibbing a bit.

 

 

The 2019 audits show an uptick in penalties for knowingly making false statements on returns – which can lead to criminal prosecution for tax evasion. However, no charges have been laid.

 

 

https://www.vancouve...targets-1944563



#654 Mike K.

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Posted 11 October 2021 - 08:38 AM

I would assume settlements are preferred in those instances.

But we really don’t have a problem with this empty home thing. The issue, region-wide, is not a big deal and putting 100% of that inventory into the market will have no measurable long-term impact on prices, rental rates, rental vacancies and housing availability.

I mean we build the equivalent volume of empty homes every six months in this region, give or take. In two years the ratio of empty homes to new inventory is 1:4. In five years it’s 1:10.

If we blanket permitted all illegal secondary suites in the CRD we’d have 15,000-units* of eligible housing overnight.

*reasonable guess based on houses with standalone spaces not being used as rentals due to hassle, permitting, no financial motivation, etc.
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#655 Sparky

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Posted 11 October 2021 - 08:42 AM

We had to pay the spec tax on a vacant lot.

#656 Mike K.

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Posted 11 October 2021 - 08:43 AM

Yup. Vacant lots are now taxable.

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#657 Nparker

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Posted 11 October 2021 - 08:53 AM

We had to pay the spec tax on a vacant lot.

Yup. Vacant lots are now taxable.

Government overreach at its finest.



#658 Sparky

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Posted 11 October 2021 - 08:54 AM

Absurd

#659 Moderation

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Posted 11 October 2021 - 11:20 AM

If the goal of a vacant tax is to bring as much property as possible to be available for people living in the area then vacant land, house lot should be treated the same way as a vacant house.. It does make sense. 

 

Whether the general concept works is another question.



#660 Mike K.

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Posted 11 October 2021 - 11:26 AM

Granted, if the actual goal was to use land more efficiently for the purposes of providing more urban housing, we wouldn’t have gentlemen farmers in the city on ten-acre lots growing flowers to satisfy their tax threshold obligations. Sparky’s lot is one piece of a large puzzle, but there are landowners in our region who live on estates but pay the same property taxes as the guy in a townhome.
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