Oops, BP, that's what I meant.
It's been on-hold for the quite a while. If it were to emerge out of its on-hold status, what would that entail, and how long does it take to awaken a former BP?
BUILT The Pearl Residences Uses: condo, commercial Address: 1628 Store Street Municipality: Victoria Region: Downtown Victoria Storeys: 8 Condo units: (studio/bachelor, 1BR, 2BR, 3BR) Sales status: now selling |
Posted 13 August 2020 - 09:43 AM
Oops, BP, that's what I meant.
It's been on-hold for the quite a while. If it were to emerge out of its on-hold status, what would that entail, and how long does it take to awaken a former BP?
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Posted 13 August 2020 - 10:01 AM
Oops, BP, that's what I meant.
It's been on-hold for the quite a while. If it were to emerge out of its on-hold status, what would that entail, and how long does it take to awaken a former BP?
Likely some departmental deficiencies with plans that need to get addressed & then payment of deposits/fees to get the BP issued. I feel like addressing some deficiencies with plans shouldn't take this long.
They probably have been dragging their heels in hopes of selling more units but that is only my opinion.
Posted 13 August 2020 - 10:13 AM
Isn't it always the case in these types of delays that it's the lending institution holding the reins?
Posted 13 August 2020 - 11:14 AM
Isn't it always the case in these types of delays that it's the lending institution holding the reins?
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Posted 13 August 2020 - 07:45 PM
There was a large ad in the TC today for The Pearl.
Posted 14 August 2020 - 05:18 AM
There was a large ad in the TC today for The Pearl.
Noticed ads in the community papers as well
Posted 14 August 2020 - 12:09 PM
AirBnB will die, not the virus. COVID will likely be here in a strong form for 2-3 years. The virus is already showing signs of mutations as labs are rushing to find a vaccination for the current form. Masks will likely be here for several years to come. Any tourist centered city will feel these effects hard, as already have and for a few years as well.
Judging if a current building will proceed based upon pre-sales at a time pre -COVID will prove foolish!!!!! Builders will be looking hard at their pre-sales clients trying to figure out their ability to close given all the new unknowns.
-loss of income post CIVID
-reduced work hours
-current homes they can't sell
Posted 14 August 2020 - 12:28 PM
I don't think we're quite there yet. Is there more risk now? I think so, but not to the point of making projects unviable.
Remember that we still have a healthy influx of people from other markets who are fast-tracking their retirements and locking in housing rates now, while planning their retirement situation out back wherever they are.
My clients are regularly speaking to buyers from afar who are coming here to purchase pre-sales then going back to their home province.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 14 August 2020 - 12:32 PM
AirBnB will die, not the virus. COVID will likely be here in a strong form for 2-3 years. The virus is already showing signs of mutations as labs are rushing to find a vaccination for the current form. Masks will likely be here for several years to come. Any tourist centered city will feel these effects hard, as already have and for a few years as well.
Judging if a current building will proceed based upon pre-sales at a time pre -COVID will prove foolish!!!!! Builders will be looking hard at their pre-sales clients trying to figure out their ability to close given all the new unknowns.
-loss of income post CIVID
-reduced work hours
-current homes they can't sell
Posted 15 August 2020 - 04:29 PM
A healthy influx? I question that.
The bad news that most people fail to realize, or want to realize, is that COVID and all of the bad things that came with it will be here for a long, long time. Even if and when a good vaccine is found, the majority of people surveyed in polls say they wouldn't take it for a year or two until long term complications are known. So, no heard immunity and the same spread likely for an unknown period of time. Yes, this sucks.
That will mean no cruise ships, no major events, sporadic flights internationally and more failed businesses. The gravity of this pandemic is just starting to settle.
Bellewoods is a beautiful project in Rockland. This project was 50% sold 12 months ago. I've heard they are at or near 60% sold of the 83 the project has in total. That would translate into 8 suites being sold in the past year. So......to use that for the Pearl at a 50% sold............no activity for months?????? The Pearl has a harbor view, but it's not in a community like Bellewoods.
I say put a stick in it.....it's done
Posted 15 August 2020 - 05:08 PM
Negative nancy here perhaps needs to pull the stick out of himself before putting a stick in the pearl.
A healthy influx? I question that.
The bad news that most people fail to realize, or want to realize, is that COVID and all of the bad things that came with it will be here for a long, long time. Even if and when a good vaccine is found, the majority of people surveyed in polls say they wouldn't take it for a year or two until long term complications are known. So, no heard immunity and the same spread likely for an unknown period of time. Yes, this sucks.
That will mean no cruise ships, no major events, sporadic flights internationally and more failed businesses. The gravity of this pandemic is just starting to settle.
Bellewoods is a beautiful project in Rockland. This project was 50% sold 12 months ago. I've heard they are at or near 60% sold of the 83 the project has in total. That would translate into 8 suites being sold in the past year. So......to use that for the Pearl at a 50% sold............no activity for months?????? The Pearl has a harbor view, but it's not in a community like Bellewoods.
I say put a stick in it.....it's done
Posted 15 August 2020 - 07:12 PM
A healthy influx? I question that.
The bad news that most people fail to realize, or want to realize, is that COVID and all of the bad things that came with it will be here for a long, long time. Even if and when a good vaccine is found, the majority of people surveyed in polls say they wouldn't take it for a year or two until long term complications are known. So, no heard immunity and the same spread likely for an unknown period of time. Yes, this sucks.
That will mean no cruise ships, no major events, sporadic flights internationally and more failed businesses. The gravity of this pandemic is just starting to settle.
Bellewoods is a beautiful project in Rockland. This project was 50% sold 12 months ago. I've heard they are at or near 60% sold of the 83 the project has in total. That would translate into 8 suites being sold in the past year. So......to use that for the Pearl at a 50% sold............no activity for months?????? The Pearl has a harbor view, but it's not in a community like Bellewoods.
I say put a stick in it.....it's done
Posted 16 August 2020 - 06:03 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 16 August 2020 - 06:38 AM
Posted 16 August 2020 - 07:42 AM
...Victoria is insulated from the big swings and if things dip so be it but the market has dipped and then swung up my whole life.
True.
Posted 16 August 2020 - 02:22 PM
saw a big ad on the side of transit bus for this project ... does not seem like it is dead to me!
Posted 16 August 2020 - 03:54 PM
And they're paying for newspaper space as well. I would sure like to see ground broken on this one.
Posted 16 August 2020 - 08:14 PM
Everything else in that area sold well but Pearl has languished for two years in presales and Ru is telling us it’s so good of a project Bellewood is out of its league. The results speak for themselves and I had a look at Pearl and walked. The interiors felt dated and uninspired and I was not willing to pay the price being asked for a project that won’t be ready until 2024 if it ever gets off the ground.
Posted 19 August 2020 - 06:42 AM
Edited by Banksy, 19 August 2020 - 06:42 AM.
Posted 19 August 2020 - 08:56 AM
I can think of at least one harbour-area resident who seems to derive great enjoyment from the happenings at the shipyard.
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