991 replies to this topic

[Nparker]

...I don't think Chard is in the business of operating rental housing...the decision to build condos in 800 block of Johnson could simply be related to the lack of a suitable partner to operate the rental housing.

If I am not mistaken, is Chard not looking to partner with BC Housing to facilitate the creation of the 'affordable' Johnson Street units?

...the other, fronting on Johnson Street, will have “affordable” units...Chard is negotiating with B.C. Housing to help finance the affordable units. http://www.timescolo...-way-1.19712760

[sdwright.vic]

The number if rental property management companies and he couldn't find someone to manage a building?

[Mike K.]

Yello was sold, it does not need management on behalf of Chard, and presumably that's what would have happened with 849 Johnson. Yello was likely a one-off given the point in time that it started construction and given that a buyer has already assumed the completed building.

I do think we've flogged this horse for long enough.

[VicHockeyFan]

I do think we've flogged this horse for long enough.

 

I agree.  Let's stick to what we are good at here.  Solid, sourced, wild speculation.      We still have a crime to solve in Oak Bay, folks.

[aastra]

 

It's worth noting that some of the most affordable market rentals in Vancouver's West End were amongst that city's most expensive rental units at the time they were built.

 

As I like to say, it's impossible to build a brand new crappy old rental building.

[Mixed365]

As I like to say, it's impossible to build a brand new crappy old rental building.

 
Don't be so sure... 

Two of my personal favourites in Cook Street Village on Pendergast and Vancouver.

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[MarkoJ]

Sorry there is no risk to a rental building when the rental vacancy rate is as low as it is. A purpose built rental will be filled just as quickly as a purpose built condo. To say there is risk to building rentals right now is, well... foolish.

 

No risk right now, but this wouldn't be ready for rent for approx. 3 years from today.

[Nparker]

No risk right now, but this wouldn't be ready for rent for approx. 3 years from today.

So does that mean we won't see anymore purpose-built rentals being proposed anymore?

[Mike K.]

Depends. There's this one planned for Johnson at Quadra, and there will be others, but the rush is over for now.

[aastra]

 

Two of my personal favourites in Cook Street Village on Pendergast and Vancouver.

 

Those weren't crappy old buildings when they were new. The faux-mediterranean touches were slick.

[Nparker]

Depends. There's this one planned for Johnson at Quadra, and there will be others, but the rush is over for now.

So I suppose that means Council will now feel obliged to drag their heels on the approval of all non-rental proposals.

[MarkoJ]

We are excited to introduce Chard Development's The Yates on Yates in Downtown Victoria.

The Yates on Yates is your opportunity to own in the soul of Downtown Victoria. Located on Yates between Blanshard and Quadra, on one of Victoria’s most vibrant urban streets, The Yates puts you right in the middle of it all.

With over a decade of development experience in Victoria, Chard Development is offering a mix of modern studio, one, and two bedroom homes all built to their impeccable standards. And at 21 storeys high, Chard Development's signature rooftop terrace will rise above it all, providing unparalleled views to everyone who calls The Yates on Yates home.
 

One Bedrooms starting at $319,900
Two Bedrooms starting at $525,900

[MarkoJ]

I wonder if $319,900 will include parking or not.

[sdwright.vic]

$200K for a second bedroom?

[Mattjvd]

^^ Maybe all the 2 bedroom units also have 2 baths and parking?

[mbjj]

Those weren't crappy old buildings when they were new. The faux-mediterranean touches were slick.

My dad lived in a cute little wooden house on Pendergast where one of those blocks is. That was around 1925. I remember going to look at it when I was a kid. We were sad when it went.

[FirstTimeHomeCrier]

 

One Bedrooms starting at $319,900
Two Bedrooms starting at $525,900

 

 

If only I hadn't spent $100,000 on avocado toasts, I could have afforded a one-bedroom! 

[ovovov]

319900+gst would make investment bad,,

 

We are excited to introduce Chard Development's The Yates on Yates in Downtown Victoria.

The Yates on Yates is your opportunity to own in the soul of Downtown Victoria. Located on Yates between Blanshard and Quadra, on one of Victoria’s most vibrant urban streets, The Yates puts you right in the middle of it all.

With over a decade of development experience in Victoria, Chard Development is offering a mix of modern studio, one, and two bedroom homes all built to their impeccable standards. And at 21 storeys high, Chard Development's signature rooftop terrace will rise above it all, providing unparalleled views to everyone who calls The Yates on Yates home.
 

One Bedrooms starting at $319,900
Two Bedrooms starting at $525,900

 

 

[Mike K.]

The rents being charged in new-build apartment towers equate to valuations of $750 a square foot. If a condo can be purchased for $600 a square foot, how is that a bad investment? As long as your costs are covered, you're good to go. It's when folks purchase $600k condos but can only rent them for rates folks who bought $450k condos are charging that there is a problem.

[lanforod]

Yeah, I don't think 350k for a 550 sq ft in a concrete building is too bad, if you can rent it for 1500/mo. Marko's question about parking would be what makes this an attractive one or not.