I'm just mind blown how fast this city is growing now. There is hardly a block in the central part of Victoria that doesn't have, or is about to have, a major construction project.
BUILT 989 Johnson Uses: condo, commercial Address: 989 Johnson Street Municipality: Victoria Region: Downtown Victoria Storeys: 17 Condo units: (studio/bachelor, loft, 1BR, 2BR, sub-penthouse, penthouse) Sales status: sold out / resales only |
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[Downtown Victoria] 989 Johnson | Condos; commercial | 17 & 15-storeys | Built - completed in 2019
#501
Posted 16 May 2017 - 08:37 AM
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#502
Posted 16 May 2017 - 09:08 AM
It's like the 1890s all over again.
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#503
Posted 16 May 2017 - 10:23 PM
I'm just mind blown how fast this city is growing now. There is hardly a block in the central part of Victoria that doesn't have, or is about to have, a major construction project.
I honestly feel like the city is playing catch-up after that period of stunted development
#504
Posted 17 May 2017 - 03:30 PM
^ I think you're right, a bit of catch up. Also Vancouver developers have seen Victoria as an alluring market, so close and with so much potential.
#505
Posted 17 May 2017 - 03:42 PM
Keep it going, fill in those eyesore parking lots!
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#506
Posted 17 May 2017 - 04:30 PM
...Keep it going, fill in those eyesore parking lots!
Then tear down and rebuild on the sites of pretty much everything built in the CoV from 1950-1970.
#507
Posted 17 May 2017 - 06:07 PM
#508
Posted 17 May 2017 - 06:16 PM
^I think there is plenty of empty to fill up before we start razing buildings...
Agreed, but there's a whole lot of ugly from the above mentioned era that won't be missed.
#509
Posted 18 May 2017 - 08:06 AM
Agreed, but there's a whole lot of ugly from the above mentioned era that won't be missed.
Those ugly old buildings are all some of us can afford!
#510
Posted 18 May 2017 - 08:15 AM
Those ugly old buildings are all some of us can afford!
Most of the ugly I refer to are not residential buildings.
#511
Posted 25 May 2017 - 11:11 AM
#512
Posted 25 May 2017 - 11:13 AM
Prices typically go up as the number of units available dwindles (depending on market conditions, of course).
Edited by jonny, 25 May 2017 - 11:13 AM.
#513
Posted 25 May 2017 - 12:06 PM
^I think there is plenty of empty to fill up before we start razing buildings. The whole area south of Bay and west of Blanshard should be next on the list.
Douglas Street, Sannich Road to Bay Street ...
#514
Posted 25 May 2017 - 12:07 PM
One of my clients bought a unit last year for 295k+GST so yes prices have increased secondary to market conditions.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#515
Posted 26 May 2017 - 02:04 PM
One of my clients bought a unit last year for 295k+GST so yes prices have increased secondary to market conditions.
Thanks for the update, Marko, here's what's had happen, it seems to me, if I remember correctly
1) the lowest price was $620/sqft, that was 295k+gst. I wonder if the price has gone up by $50/sqft recently.
2) Legato first sold a few units at $580/sqft then the price went up like $630/sqft.
3) Era is is selling at $750/sqft,( for those facing north unit), there's a bit premium for south facing unit. I am not a pro in numbers but hell, when I moved back from YVR downtwon, the prices @dt yvr was like in the $1000/sqft range for newer buildings... Victoria has a long way to catch yvr... BUY NOW or never
#516
Posted 27 May 2017 - 05:47 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#517
Posted 29 May 2017 - 11:22 PM
As construction continues, developers almost always adjust pricing to keep pace with rising costs (especially in a market where contractors are pushed to the brim). The cost to build at 989 is now $600/sq ft. So at $620 a square foot the profit would be 3%. That's too tight given formal construction had not even begun.
Usually developers' margin is about 12-16%,hence, the as the completion dates getting closer, that would push up the price to 720/sqft in year mid 2019 not mentioning the parking/finishing etc etc.
#518
Posted 04 June 2017 - 12:28 PM
#519
Posted 04 June 2017 - 12:36 PM
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#520
Posted 04 June 2017 - 02:00 PM
Crane base for the 989 Johnson job ( McCalls funeral lot ) will be placed on June 5th...
I think they might have some water to pump out first.
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