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UNDER CONSTRUCTION
Belmont Market Shopping Centre
Uses: commercial, office
Address: Jacklin Road at Jenkins Road
Municipality: Langford
Region: West Shore
Storeys: 1
Belmont Market Shopping Centre is comprised of 160,000 square feet of commercial space with a Thrifty Foods gr... (view full profile)
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[Langford] Belmont Market | Commercial; rentals, condos | Under construction

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348 replies to this topic

#261 tjv

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Posted 04 March 2018 - 02:59 PM

We dont build enough, thats all there is to it. In Edmonton 3 bedroom houses with yards can be bought new for ~350k and they build them like crazy. Here a 1 bedroom condo is the same price or more and people complain about sprawl

and a friend was looking at buying a 1400+ sf house back east for 70k?  What's your point?  Can you even find a lot anywhere in the CRD for 350k?



#262 VicHockeyFan

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Posted 04 March 2018 - 03:15 PM

Our point is that our land is only expensive because we hamper development on it. Even though we have no shortage.
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#263 jonny

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Posted 04 March 2018 - 03:42 PM

How expensive would real estate be in Alberta if all of their farmland was on some sort of government land preserve?
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#264 sdwright.vic

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Posted 04 March 2018 - 04:54 PM

My sis in law could sell her place in NW Calgary for over $600K... not all that much cheaper.

Edited by sdwright.vic, 04 March 2018 - 04:55 PM.

Predictive text and a tiny keyboard are not my friends!

#265 RFS

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Posted 04 March 2018 - 05:13 PM

I might be wrong about this but it also seems like every builder/developer here is trying to be super luxury/boutique. No just normal house building companies that build crap loads of standard houses.

#266 Mike K.

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Posted 04 March 2018 - 06:18 PM

Because new housing is luxury and boutique. Nobody buys the LT trim, everyone wants the Limited, even though you’re buying a Honda. Low-end new housing is out there but why even bother if someone in that market would just as well buy a 20 year-old home?

That being said, luxury today is a meaningless word, really. Everything is labelled luxury.
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#267 tiger11

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Posted 04 March 2018 - 06:35 PM

I might be wrong about this but it also seems like every builder/developer here is trying to be super luxury/boutique. No just normal house building companies that build crap loads of standard houses.

 

 Have you been to Langford? 

 

Seems to be a lot of standard communities out there to me! 



#268 RFS

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Posted 04 March 2018 - 06:41 PM

Because new housing is luxury and boutique. Nobody buys the LT trim, everyone wants the Limited, even though you’re buying a Honda. Low-end new housing is out there but why even bother if someone in that market would just as well buy a 20 year-old home?

That being said, luxury today is a meaningless word, really. Everything is labelled luxury.


But they seem to exist in other markets

#269 RFS

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Posted 04 March 2018 - 06:44 PM

Im gonna use this as an example:
https://www.eaglehom...t=kokanee_court

Home and land packages in Kamloops starting at $249k. Nothing fancy, basically a manufactured home on a lot, but its cheap and you get a yard. Something like this would never happen here, and even if it were proposed 90% of Victorians would complain about sprawl

#270 LJ

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Posted 04 March 2018 - 06:58 PM

Put in some trailer parks, cheap rent on the pad, low cost on the accommodation.

 

Or kit houses...https://www.ebay.com...42215536?chn=ps


Edited by LJ, 04 March 2018 - 07:00 PM.

Life's a journey......so roll down the window and enjoy the breeze.

#271 Mike K.

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Posted 04 March 2018 - 07:02 PM

Im gonna use this as an example:
https://www.eaglehom...t=kokanee_court

Home and land packages in Kamloops starting at $249k. Nothing fancy, basically a manufactured home on a lot, but its cheap and you get a yard. Something like this would never happen here, and even if it were proposed 90% of Victorians would complain about sprawl


Right, but we can’t do that because the cost of land prohibits anything other than what we’re seeing.

In the olden days one went out to Langford to build a mobile home. Plenty of land, and it was cheap. Today we don’t have that Langford, we literally have Saanich north of downtown and west of downtown all the way to Shirley and up to Duncan.

We have nowhere to expand for cheap land due to political decisions to limit urban areas.

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#272 davidN

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Posted 04 March 2018 - 07:16 PM

Oh yeah, you don’t have to go out and buy that condo. Only you can decide what is and what isn’t right for you.

Regarding prices, I am also referring to wood frame prices. Black and White, Bowker, Madisson, Le Fevre’s latest phase at The Railyards, etc, are/were all priced in the $650+ range. Horizon’s current pricing is in the $700 range.

I'm not all that familiar with these buildings so I looked them up. I don't consider them comparable at all to the Belmont project. Wood frame they may be but the land they sit on is prime high end, high demand properties - Oak Bay etc and all within a short walk to the water. Hardly comparable to a building in a strip mall in Langford



#273 LJ

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Posted 04 March 2018 - 07:19 PM

^Well if they don't sell you will be seen to be correct. I have a feeling the opposite will prevail.


Life's a journey......so roll down the window and enjoy the breeze.

#274 davidN

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Posted 04 March 2018 - 07:21 PM

Lakepoint one is arguably a WAY nicer location and started at $199k. I mean, I am sure they know what they are doing and if they can get these prices then good for them, but it illustrates for me the extent of our price/supply problem in the region.

I know. We were not in town when that Lakepoint building was built/sold. That looks like a really nice building and good value. We would have bought there if we knew about it.

 

I like the direction that Westhills is going. They seem to be at the leading edge when it comes to design and construction quality in Langford.



#275 Mike K.

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Posted 04 March 2018 - 07:31 PM

I'm not all that familiar with these buildings so I looked them up. I don't consider them comparable at all to the Belmont project. Wood frame they may be but the land they sit on is prime high end, high demand properties - Oak Bay etc and all within a short walk to the water. Hardly comparable to a building in a strip mall in Langford

And that’s exactly why the rate for that Langford strip mall condo is $500, and not $750. I can’t show you direct comparables in Victoria to the condo in Langford because they do not exist. And the only indirect comparables (woodframe condos) in Victoria are much, much more expensive.

So if $500 for a strip mall condo in Langford is not reasonable to you, $750 in Victoria just may be (but you’re paying that extra $250 for a variety of reasons). As a purchaser only you can decide what is valuable to you and worth the cost you’re prepared to pay.

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#276 tjv

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Posted 04 March 2018 - 08:27 PM

Our point is that our land is only expensive because we hamper development on it. Even though we have no shortage.

I disagree, Victoria is dirt cheap compared to the rest of the world.  Are people buying $10 million dollar homes in Edmonton as an example and immediately planning the demolition?  It happens here more than you think

 

Im gonna use this as an example:
https://www.eaglehom...t=kokanee_court

Home and land packages in Kamloops starting at $249k. Nothing fancy, basically a manufactured home on a lot, but its cheap and you get a yard. Something like this would never happen here, and even if it were proposed 90% of Victorians would complain about sprawl

If you hurry you can get the last ferry tonight!



#277 VicHockeyFan

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Posted 05 March 2018 - 08:00 AM

I disagree, Victoria is dirt cheap compared to the rest of the world.  

 

Only if you compare us to much larger cities. Compare Victoria to other world cities with the same population and you will find us in the top 5% of costs.


Edited by VicHockeyFan, 05 March 2018 - 08:00 AM.

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#278 tjv

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Posted 05 March 2018 - 08:09 AM

that's probably true

Are people buying $10 million dollar homes in Edmonton as an example and immediately planning the demolition?  It happens here more than you think

and what about about this?  Weren't we rated as the 2nd hottest luxury home market last year?

 

Its basic supply and demand, people want to move here.  Construction is going flat out building supply and we can't keep up with demand



#279 Mike K.

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Posted 05 March 2018 - 08:23 AM

Under very restricted terms, yes, we are definitely a luxury market, but so is Nanaimo. Lots of older folks with money to burn on new cars, remodelled homes and up-market vacations give us a little bit of presence in that market, but not much.


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#280 jonny

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Posted 05 March 2018 - 10:05 AM

Only if you compare us to much larger cities. Compare Victoria to other world cities with the same population and you will find us in the top 5% of costs.

 

I say this with some hesitation, but we are in a pretty unique situation.

 

Southwestern BC is really the only section of this vast, wealthy and rapidly growing country that have [more or less] year-round non-freezing weather.

 

I don’t know that there are many comparables in the entire world.

 

On top of that we have very restrictive land use mechanisms.

 

It’s easy to see why things are the way they are.  


Edited by jonny, 05 March 2018 - 10:47 AM.


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