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The Row
Use: rental
Address: 1152 Johnson Street
Municipality: Victoria
Region: Urban core
Storeys: 6
The Row is a six-storey rental complex on Johnson Street at Chambers Street in the City of Victoria's Fernwood... (view full profile)
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[Fernwood] The Row | condos, rentals | 6-storeys | Built - completed in 2020


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150 replies to this topic

#141 Victoria Watcher

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Posted 24 May 2021 - 10:26 AM

is there a strong resale market for multi family residential buildings with no prospects for an occupancy permit?
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#142 marks_28

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Posted 24 May 2021 - 10:31 AM

Perhaps it could have been sold at a discount? Buyer paying less but has to go through the trouble of remedying the problem?

#143 Kapten Kapsell

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Posted 25 May 2021 - 08:12 AM

I suspect that the ultimate owner of the building will be able to get an occupancy permit pending some inspections; it's not in the city's interest for the building to set vacant indefinitely, especially as it's a rental building and demand for space will only tighten post-COVID.



#144 franticvike

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Posted 23 August 2021 - 02:09 PM

As far as I can tell this entire building remains vacant, months now after completion.  Anyone hear any rumours about what is going on here?



#145 Mike K.

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Posted 23 August 2021 - 02:41 PM

I was checking it out the other day. It is indeed a very peculiar situation.

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#146 Victoria Watcher

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Posted 23 August 2021 - 02:57 PM

I was checking it out the other day. It is indeed a very peculiar situation.

 

it's too bad nobody on here has connections in the building and commercial real estate industry to find out what is going on.



#147 dangnaggit

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Posted 23 August 2021 - 03:18 PM

Word on the street is that the whole building is being sold

#148 Victoria Watcher

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Posted 23 August 2021 - 03:26 PM

Word on the street is that the whole building is being sold

 

that is what we suspect but why is it taking so long?

 

it sold last year.

 

SOLD 1154 JOHNSON STREET $20,500,000 $427,083 PER SUITE 48 UNITS IMAGE SOURCE: KANG & GILL

 

https://multifamilyb...eport-Email.pdf


Edited by Victoria Watcher, 23 August 2021 - 03:30 PM.


#149 Mike K.

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Posted 23 August 2021 - 03:38 PM

it's too bad nobody on here has connections in the building and commercial real estate industry to find out what is going on.


People aren’t talking, so there’s only so much you can do.

I’ll keep asking, though.

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#150 Citified.ca

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Posted 30 August 2021 - 07:44 AM

Mystery of Victoria's vacant apartment complex solved as $1,500 to $3,900 suites hit the market

https://victoria.cit...hit-the-market/


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#151 Victoria Watcher

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Posted 30 August 2021 - 08:00 AM

2018:

 

 

James Bay tenants say landlord has found rent-increase loophole

 

 

 

In B.C., parking and storage fees aren’t legally considered rent. But, the apartment building’s management company says these fee increases aren’t a roundabout rent hike.

 

“The fee increase for the parking areas has been in the works long before there was discussion about changes about the rental rate,” said Jaime Tiampo, director of Itziar Management.

 

“If you take a look, we haven’t changed [parking] rates on those buildings for 15 to 20 years.”

Many of the residents here live on fixed incomes, and they say the changes are unaffordable.

 

“It means less food! Everything that happens means less food, less prescriptions!” said Jeannie Good.

 

But the landlord says, as it is, he can’t afford the cost of doing business.

 

https://www.cheknews...oophole-498934/


Edited by Victoria Watcher, 30 August 2021 - 08:01 AM.


 



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