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975-983 Pandora Avenue
Uses: rental, commercial
Address: 979-983 Pandora Avenue
Municipality: Victoria
Region: Downtown Victoria
Storeys: 15
975-983 Pandora Avenue is a proposal to build a 15-storey mixed-use rental and ground floor retail tower in do... (view full profile)
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[Harris Green] 979-983 Pandora Avenue | Rentals; retail | 16-storeys | Proposed


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#201 Sparky

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Posted 15 January 2022 - 12:47 PM

https://www.cheknews...g-units-937325/

^ When we see enough supply on the market, rents do start to drop,” Helps said.

When did she see that? What year did that happen?

#202 Victoria Watcher

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Posted 15 January 2022 - 12:51 PM

^ When we see enough supply on the market, rents do start to drop,” Helps said.

When did she see that? What year did that happen?

 

Well, it never quite happened with an actual drop.  But you cannot defy the laws of economics.  More supply eases rent increases


Edited by Victoria Watcher, 15 January 2022 - 12:52 PM.


#203 Nparker

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Posted 15 January 2022 - 01:04 PM

...What they want is the lower rent in their own housing that they have right now...

I wish someone would pass this sentiment along to the CoV in regards to annual property taxes.



#204 Sparky

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Posted 15 January 2022 - 04:45 PM

Well, it never quite happened with an actual drop. But you cannot defy the laws of economics. More supply eases rent increases.

That might be true for strawberries and socks, but she is painting a scenario that has never happened in her lifetime. It’s a hypothetical mathematical myth meant to distract the worker bees from the wounds of reality.

In other words that’s a load of crap.

She said “rents do start to drop”, NOT “rent increases won’t be as much as they could have been” or “as much as they have been”.
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#205 Mike K.

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Posted 15 January 2022 - 07:03 PM

Rents dropped throughout the 90s and stayed quite flat, when the economy really lagged here.

We still had plenty of new rental supply from the 80s. Then the major NIMBY era began, and construction of rentals was detested by councils. Our own minister of transportation, who was once a Victoria councillor, voted against a lot of rental housing and his fellow councillors kept it from being built.

But the region kept growing. And today there is so much new wealth coming here, that even secondary suites that were once regularly reliable sources of rental housing are no longer being offered for rent. Certainly not with the new rental regulations that same minister’s current government has established.

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#206 baconnbits

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Posted 16 January 2022 - 05:10 PM

That might be true for strawberries and socks, but she is painting a scenario that has never happened in her lifetime. It’s a hypothetical mathematical myth meant to distract the worker bees from the wounds of reality.

In other words that’s a load of crap.

She said “rents do start to drop”, NOT “rent increases won’t be as much as they could have been” or “as much as they have been”.


It hasn’t happened here cause when have they ever over built?
No rentals have meaningfully been built here or most of Canada since the 70s.
Condos have never been overbuilt either in recent memory.
Look beyond Victoria and you’ll see cities like Portland where they have massively increased the supply of rental housing and rents fell about 15% from 2017/2018 and hve basically flatlined since then.
If you look at downtown seattle rents in the same time period, they moderately declined and went nowhere since then. Up now solely as a result of the general rental rate resurgence in the US once they country opened up
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#207 Mike K.

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Posted 17 January 2022 - 08:11 AM

It’s also tough to overbuild here as our construction industry is at full throttle already. Plenty of projects are using crews stationed here from other places just to have their projects materialize without significant delay.

Now as we’re at full throttle, we’re also building about 1/3 of homes to people ratio, meaning our supply is not even keeping up with per-residence usage.

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#208 Mattjvd

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Posted 17 January 2022 - 11:05 AM

It’s also tough to overbuild here as our construction industry is at full throttle already. Plenty of projects are using crews stationed here from other places just to have their projects materialize without significant delay.

Now as we’re at full throttle, we’re also building about 1/3 of homes to people ratio, meaning our supply is not even keeping up with per-residence usage.


It's surprising that the industry hasn't grown more. It has been at or beyond capacity for 4 or 5 years now, no? Over that time scale I'd expect capacity to increase.
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#209 GaryOak

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Posted 17 January 2022 - 12:24 PM

That's because construction is back breaking work with terrible pay.
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#210 Mike K.

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Posted 19 January 2022 - 11:32 AM

Townline Approved to Build new Co-Living Rental Building on Vancouver Street



Wednesday, January 19, 2022, Victoria, BC – Townline received unanimous approval at a City of Victoria public hearing last week to build a 16-storey purpose-built rental building uniquely designed to include some co-living homes; a first for the Victoria housing market.



“With the low rental vacancy rate in Victoria we recognized this was a time to be creative and ensure we designed homes for a wide-variety of people,” said Chris Colbeck, Senior Vice President, Townline. “Co-living is popular throughout North America and provides people with the opportunity to be part of a true community or vertical neighbourhood.”



Located on the corner of Vancouver and Pandora Streets, the building will include new rental homes as well as ground level commercial space. Of the 121 total rental homes, the building will provide 54, three, four and five bedroom fully furnished co-living pods; including an ensuite for most bedrooms, shared in suite kitchen with a large island, television and all kitchenware.



Research has shown that co-living is a modern form of shared housing for like-minded individuals, integrating high-quality rooms with communal living spaces and thoughtful and robust amenity programming. Co-living has become popular with individuals who re locate for short- or long-term employment opportunities, travel , newcomers to a city and anyone looking to expand their social network and seeks a highly curated lifestyle. The trend is largely appealing to a younger demographic of 25 – 35-year-olds, although older age groups are also drawn to the model. Co-living is on the rise in cities such as Toronto, Seattle, Los Angeles, and New York.



“If we’ve learned anything from the pandemic, it’s that urban loneliness exists and people crave human connection, community, flexibility and don’t want to live in isolation,” said Colbeck. “This building provides the opportunity to live in new amenity-rich rental accommodations with a built-in social life.”



With rising rents throughout the province, co-living, while not designed specifically as affordable housing, provides a much-needed supply of a creative and alternative form of flexible and social living options for those that desire these connections.



Townline has been building homes in Victoria for more than a decade including the community of the Hudson District.



About Townline: Townline is known for its innovative living solutions and unparalleled attention to detail. For over 40 years, every Townline project – from single-family homes and townhomes to concrete high-rise towers and mixed-use communities – has been defined by a strong focus on homeowner and tenant experience, purposeful design, and an unwavering commitment to enriching the cities and communities we build in. For more information: www.townline.ca

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#211 spanky123

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Posted 19 January 2022 - 11:33 AM

Build it and then flip it to Bc Housing?


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#212 Nparker

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Posted 19 January 2022 - 11:37 AM

...The trend is largely appealing to a younger demographic of 25 – 35-year-olds, although older age groups are also drawn to the model...

This member of an "older age group" is not drawn to the co-living model!  :blink:

...If we’ve learned anything from the pandemic, it’s that urban loneliness exists and people crave human connection, community, flexibility and don’t want to live in isolation...

We are only living in isolation due to government regulation, not choice.


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#213 dkuitu

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Posted 19 January 2022 - 07:35 PM

This layout reminds me of college. How much do you guys think each room will go for? Does it say anywhere what their target is?


Edited by dkuitu, 19 January 2022 - 07:40 PM.


#214 Nparker

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Posted 19 January 2022 - 07:36 PM

Does anyone have a floorplan layout for this one?

Weren't there floorplans posted for this project on the CoV Development Tracker at one point?



#215 spanky123

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Posted 20 January 2022 - 06:26 AM

This layout reminds me of college. How much do you guys think each room will go for? Does it say anywhere what their target is?

They said 30% less than a studio apartment so $1100 a month?

This model is opposite of the demographic data which shows people want to live alone so will see how it goes.

Edited by spanky123, 20 January 2022 - 06:27 AM.

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#216 Victoria Watcher

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Posted 20 January 2022 - 06:33 AM

I'm still unclear how you handle conflicts/evictions etc.   I suppose they manage it somehow in rooming houses etc.

 

 

 

 

Tenants In Common

 

“Tenants in common” are tenants who live in the same rental unit but have separate tenancy agreements with the landlord. For example, a landlord may rent out individual rooms in a house under separate agreements. With this type of roommate setup, you are only responsible for your own behaviour. If another tenant fails to pay their rent on time or decides to move out, it will have no legal effect on your tenancy.

 

Sharing common space in this way can be an effective way to get cheaper rent without having to sign an agreement with another person. However, the disadvantage of this type of setup is that your landlord may not consult you when choosing your roommates.

 

Disputes between tenants in common: Disputes between tenants in common are not covered by the Residential Tenancy Act and cannot be resolved through the Residential Tenancy Branch. If you and another tenant in common have a dispute relating to your tenancy that cannot be settled on your own, consider putting your concerns to your landlord in writing. Once notified, your landlord should attempt to intervene and correct the situation. Alternatively, some legal problems may have to be settled through Small Claims Court, the Civil Resolution Tribunal, or BC Supreme Court.

 

 

https://tenants.bc.c...ancy/roommates/


Edited by Victoria Watcher, 20 January 2022 - 06:37 AM.


#217 Barrrister

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Posted 20 January 2022 - 03:30 PM

None of this is a problem if BC Housing buys the building. 



#218 spanky123

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Posted 21 January 2022 - 07:47 AM

^ This is what is happening in Seattle and San Fran now. In order to get around community group and local resident complaints, a developer designs a nice building, gets it approved, builds it and then sells it to the Housing authority as soon as it is completed for a huge profit. Everyone wins except for the locals who were duped into supporting what they though would be an affordable housing project.


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#219 Victoria Watcher

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Posted 23 January 2022 - 05:46 AM

Colbeck said the property management team will include a social lifestyle curator, whose job is to plan social events, such as wine tasting or movie nights. A weekly event in the building and a monthly outing will be included in the cost of rent for those in co-living pods, while residents of the 67 traditional one- and two-bedroom rental units can pay to participate in social events, Colbeck said.

 

“We see some big demand for that and to help combat this urban loneliness that we’re seeing in so many cities,” he said.

 

The management team would strive to place people in pods with others of similar ages and who have similar interests, “almost like matchmaking,” Colbeck said.

 

 

https://www.timescol...ictoria-4983997

 

 

 

 

The whole things sounds odd.   I can make my own friends, thanks.


Edited by Victoria Watcher, 23 January 2022 - 05:49 AM.

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#220 Nparker

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Posted 23 January 2022 - 07:21 AM

So it's a sort of daycare for socially awkward adults who cannot make connections on their own.


Edited by Nparker, 23 January 2022 - 07:21 AM.

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