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APPROVED
Sparrow
Uses: condo, commercial
Address: 1301 Hillside Avenue
Municipality: Victoria
Region: Urban core
Storeys: 6
Condo units: 49 (1BR, 2BR)
Sales status: pre-sales
Sparrow offers a distinct collection of intelligently designed 1 & 2 bedroom homes in Victoria's vibrant O... (view full profile)
Learn more about Sparrow on Citified.ca      Official website: sparrowliving.ca
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[Oaklands] Sparrow | Condos | 6-storeys | Approved


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67 replies to this topic

#61 Kapten Kapsell

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Posted 14 August 2020 - 09:40 AM

Marko, do you have a sense of how pre-sales are going?

 

Knowing that Abstract often moves quickly I imagine that they will get going on construction by the fall...



#62 Citified.ca

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Posted 25 September 2020 - 11:15 AM

Sparrow condominium dev launching second phase of sales with BC Housing-backed first-time buyer incentives

https://victoria.cit...yer-incentives/


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#63 PPPdev

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Posted 25 September 2020 - 11:44 AM

So $163,000 per year income to be able to buy a 571sf 2bed unit? aka no discount off market price.



#64 Mike K.

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Posted 25 September 2020 - 11:50 AM

That is the maximum in household income, not that that's the income required.

 

As someone who had to put down 27.5% to qualify as a self-employed individual, an opportunity to put down 5% would have meant I could have bought a home years sooner. Rules are different for self-employed people and those who earn a salary at a private or public organization, but if this helps someone earning $70k a year buy their first home several years faster, that's ultimately a good thing. 


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#65 PPPdev

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Posted 25 September 2020 - 04:08 PM

I understand my man

Typically, these programs limit the sale price by qualifying income. By setting the income so high, with such a small unit, the discount will likely default to the BC Housing minimum of 5-10%

#66 Mike K.

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Posted 25 September 2020 - 06:23 PM

Can you speak to how the maximums are set? $163,000 is a decent household income.

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#67 RustyNail

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Posted 25 September 2020 - 06:34 PM

Can you speak to how the maximums are set? $163,000 is a decent household income.


It certainly is decent. Interesting times we've reached where families with up to 163 000 income are even considering small 571 sqft condos.
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#68 zoomer

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Posted 25 September 2020 - 06:36 PM

Great looking building, so nice to see something happening here again after all these years of sitting empty. I see the first release has sold out with the second release being tomorrow. Has excavation started?

 



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