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PROPOSED
926-932 Pandora Avenue
Uses: condo, commercial
Address: 926-932 Pandora Avenue
Municipality: Victoria
Region: Downtown Victoria
Storeys: 10
Condo units: 143 (studio/bachelor, 1BR, 2BR, 3BR, townhome, 1BR + den, 2BR + den)
Sales status: in planning
926-932 Pandora Avenue is a proposal for a 10-storey condominium and townhome development with ground floor re... (view full profile)
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[North Park] 926-932 Pandora Avenue | Condos, commercial | 10-storeys | Proposed


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94 replies to this topic

#81 Rob Randall

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Posted 30 April 2019 - 11:12 AM

"How many people showed up to the open house and community meeting?"

"Ah, about seven or eight, sir. Seems most residents aren't interested."

"WELL, MAKE THEM INTERESTED, GODDAMMIT".


"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#82 Nparker

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Posted 30 April 2019 - 11:20 AM

I've always maintained this one was going to have a tough road to approval and it seems I may be right.



#83 Mike K.

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Posted 01 May 2019 - 07:09 AM

There were concerns that the project didn’t fit in, and I believe there was a request to add community space or add more community space (I can’t remember). Ultimately the sentiment of the evening was that the building was too bourgeoise for the neighbourhood and when Helps recognized the project wouldn’t pass she made a motion to have it go back to staff for more tweaking.

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#84 Mike K.

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Posted 01 May 2019 - 07:10 AM

The proposal, by the way, is two years old now. It’ll likely re-emerge before council 2.5 years following the start of its municipal planning process.

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#85 Nparker

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Posted 01 May 2019 - 07:25 AM

...Ultimately the sentiment of the evening was that the building was too bourgeoise for the neighbourhood..

Yeah it's hard to compete with the ambience of the 900 block of Pandora.  :whyme:



#86 tjv

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Posted 01 May 2019 - 07:37 AM

Wouldn't be surprised to see this project scraped with rising construction costs and falling real estate prices.  Who is going to buy a condo for say 400k today only to have it worth 350k when you take possession.  Makes no sense



#87 Nparker

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Posted 01 May 2019 - 07:39 AM

I can't see anything but a rental project getting approved for this location.



#88 Mike K.

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Posted 01 May 2019 - 07:44 AM

Who is going to buy a condo for say 400k today only to have it worth 350k when you take possession.  Makes no sense

 

Nobody, because condo values will be higher by the time the project is completed :)


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#89 tjv

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Posted 01 May 2019 - 08:25 AM

^I guess you don't remember 2008/09.  People were just walking away from their deposits because it was cheaper and developers were on TV threatening to sue to enforce the sale contracts



#90 Mike K.

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Posted 01 May 2019 - 08:38 AM

Oh I sure remember, but comparing a global financial implosion to today's market is like saying a bar fight is equivalent to WWII.


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#91 jonny

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Posted 01 May 2019 - 08:38 AM

Has anybody seen signs of the condo resale market slowing down? Units in my building, which was completed in 2017, are selling for 30-40% more than we paid in 2016. There's a comparable unit for sale in the neighbouring building under construction (Olivia) which is asking for $200k more (or 50+% more!) than we paid in 2016. 

 

We probably wouldn't be able to afford to buy a unit in our own building, only two years later. 



#92 Mike K.

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Posted 01 May 2019 - 08:40 AM

Not at all. If anything it's heating up as more and more people transition their pursuit of a single-family-home or a townhome to a condo. I'm hearing of bidding wars on inventory priced from $350-$550k.


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#93 tjv

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Posted 01 May 2019 - 10:14 AM

Oh I sure remember, but comparing a global financial implosion to today's market is like saying a bar fight is equivalent to WWII.

I am not convinced prices will be higher.  Average SFH house prices are down 25k year over year.  Condo prices are flat



#94 Mike K.

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Posted 01 May 2019 - 11:43 AM

Oh they could be flat, but they’re not going to depreciate 10%. There’s just too much demand.

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#95 tjv

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Posted 01 May 2019 - 03:47 PM

your opinion, I could see it.  we did have a massive run up very recently



 



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