More height and re-massing could end up being far too complex to execute the project as currently designed....
Perhaps, but that would be my condition for a mid-game change request like this.
![]() | UNDER CONSTRUCTION 825 Fort Street Uses: rental, commercial Address: 819-827 Fort Street Municipality: Victoria Region: Downtown Victoria Storeys: 11 |
Posted 20 September 2023 - 08:24 AM
More height and re-massing could end up being far too complex to execute the project as currently designed....
Perhaps, but that would be my condition for a mid-game change request like this.
Posted 20 September 2023 - 08:28 AM
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Posted 20 September 2023 - 08:31 AM
You’d rather send the project down a precarious path of a major redesign, than just approve an extra floor, because the engineering can allow it with some modifications of the foundation?
Yes. We are going to have to live with the esthetics of this building for generations. Might as well get it right now. There is far too much short-sightedness in local architecture these days.
Posted 20 September 2023 - 08:33 AM
I don't see how that makes practical sense, but you're entitled to your opinion, of course.
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Posted 20 September 2023 - 08:35 AM
Haste makes waste.
Posted 20 September 2023 - 08:39 AM
The project is already underway, so spending two years redesigning the structure and pursuing approvals for a new design altogether would understandably be such a risky venture that it's a no-start from the get-go, I think. Real-world realities are very different than our forum discussions, I think we can agree.
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Posted 20 September 2023 - 08:58 AM
Know it all.
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Posted 20 September 2023 - 09:35 AM
It's too bad there aren't more grumpy old developers on this board.
Posted 20 September 2023 - 09:39 AM
That’s why you’re a grumpy old man on the internet, and not a developer.
can you add that many floors once the foundation is poured? Is that an easy thing? Would've thought the foundation etc. was engineering for a certain amount. With developments like this would they always over engineering the foundation to be able to add floors?
Posted 20 September 2023 - 09:41 AM
Posted 20 September 2023 - 09:46 AM
No, they engineer for the project load. In this case they can still reengineer it for 11 storeys, without much hassle.can you add that many floors once the foundation is poured? Is that an easy thing? Would've thought the foundation etc. was engineering for a certain amount. With developments like this would they always over engineering the foundation to be able to add floors?
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Posted 19 November 2023 - 03:08 PM
Construction must be starting soon, the crane is up.
Posted 19 November 2023 - 08:48 PM
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Posted 20 November 2023 - 07:22 AM
But the recently approved $41 million low-interest loan for Salient Properties’ 825 Fort St. project will mean an additional storey and 14 more rental units for the project, which is currently under construction.
The funding commitment allowed proponent Robert Fung, president of the Salient Group, to petition Victoria council last month to add another floor to the project.
Fung told council the project was approved for the Rental Construction Financing Initiative money after it had been granted its rezoning approval and development permit. But he noted with that kind of low-interest loan, he could provide more affordable housing.
“Our commitments for 825 Fort achieve the deepest level of affordability available under the program, for the greatest percentage of suites, for the longest term,” he said in a submission to council. “This represents an opportunity for council to add 14 rental homes in downtown Victoria in a project that is underway in a location that permits the requested height, and in a project where financing agreements with CMHC legally obligate the project in its energy use and [greenhouse gas] emission reductions.”
Council unanimously agreed it was worth adding a storey to get the units.
The result is that the project will now be 11 storeys and 119 units rather than a 10-storey building with 105-units.
Fung has used the low-interest loan program before, notably on the same block of Fort Street, where he built a 60-unit, micro-loft project known as the Sawyer Block, which retained the historic façade of 840 Fort St.
The $15.5-million project was fuelled by a $13.25-million loan from the Rental Construction Financing initiative — a program offered by Canada Mortgage and Housing Corporation to provide low-cost financing for rental projects with an eye to developers being able to provide housing at affordable rents.
https://www.timescol...project-7850872
Edited by Victoria Watcher, 20 November 2023 - 07:22 AM.
Posted 03 November 2024 - 06:03 PM
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