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UNDER CONSTRUCTION
NEST
Uses: condo, commercial
Address: 1100 Yates Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 12
Condo units: (1BR, 2BR, 3BR)
Sales status: pre-sales
NEST is a 12-storey condominium tower with ground and second floor commercial space at Yates and Cook streets ... (view full profile)
Learn more about NEST on Citified.ca      Official website: https://nestbychard.com
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[Fernwood] Nest & Haven | Condos; office; retail | 12 & 6-storeys


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236 replies to this topic

#181 Victoria Watcher

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Posted 19 November 2021 - 06:30 PM

The gap where a young or first-time buyer can’t save $70,000 to buy into the market, and qualify under the federal government’s stress test mortgage environment.

 

Buy something cheaper/smaller.  Or get a second job.  Solved.  


Edited by Victoria Watcher, 19 November 2021 - 06:30 PM.


#182 Mike K.

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Posted 19 November 2021 - 06:35 PM

Homeownership is good for society. It’s probably good that the government is expanding its housing mandate from only the rental market.

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#183 Victoria Watcher

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Posted 19 November 2021 - 06:37 PM

Homeownership is good for society. It’s probably good that the government is expanding its housing mandate from only the rental market.

 

My simple non-government plan involves home ownership.


Edited by Victoria Watcher, 19 November 2021 - 06:38 PM.


#184 Mike K.

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Posted 19 November 2021 - 06:46 PM

Not if you can’t qualify for the mortgage, though.

The feds made things tricky with the stress test, the province is trying to mitigate that trickyness, to some degree, and help people qualify for a mortgage.

It wasn’t that long ago that families were buying $350,000 SFDs in Victoria, but now that’s what a small studio costs. It’s a very different market today than it was even 15 years ago.
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#185 magmazing

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Posted 19 November 2021 - 07:26 PM

4 years ago when I signed the papers go get a unit at Vivid, my 1br + den was assessed at $370k and my purchase price was 8% under that under the previous program.  I wonder what the assessment will be in 2022?



#186 Mike K.

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Posted 19 November 2021 - 08:10 PM

Keep in mind that the property tax assessment (BC Assessment) and the market value assessment (what you paid, and what you could sell for) are two different assessments.

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#187 Citified.ca

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Posted 23 November 2021 - 10:16 AM

“It is important for me to let others know that if I could do it, so can other people who are in my situation working hard to catch up but always falling behind. My message now to my friends and colleagues is to learn about this program and see how it can help them, too.” - Haven purchaser Darek M. As a transit operator, Darek says his wages kept rising but so did his down payment requirement to buy a home, and he could no longer keep up. BC Housing's AHOP, he says, was the assistance he needed to buy a home.

 

BC Housing-backed affordable ‘Haven’ condo turning home ownership dreams into reality


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#188 aastra

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Posted 08 December 2021 - 10:25 PM

Have we seen hi-res pics?

 

Pic 1...

 

Pic 2...


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#189 LocalMom

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Posted 08 December 2021 - 10:43 PM

Looks startling similar to the newish development along Shelbourne at Blair

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Edited by LocalMom, 08 December 2021 - 10:45 PM.

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#190 Citified.ca

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Posted 31 January 2022 - 09:34 AM

Chard Development says a surge in demand for its Nest and Haven condominiums materialized before Christmas and has continued into winter, which has propelled the sales of both projects to near sold-out status for Nest and over 50% for the BC Housing-backed Haven. Traditionally, this time of the year is the slowest for real-estate, but late 2021 and so far into 2022 is bucking that trend in a big way.

 

The demand is the highest it has been, according to the developer, since before the pandemic.

 

Buyers are back: Surge in downtown Victoria condo demand propels landmark Nest and Haven pre-sales to over 80% and 50% sold-out, respectively

https://victoria.cit...t-respectively/


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#191 Kapten Kapsell

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Posted 31 January 2022 - 10:31 AM

With the return of condo buyers to the core, I wonder if Hudson Place One has finally sold out ...?



#192 Mike K.

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Posted 31 January 2022 - 10:34 AM

I think it might still have a unit or two remaining.
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#193 Mike K.

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Posted 16 February 2022 - 08:14 AM

Haven is 70% sold now, btw.

The province issued the following press release today:

🔹Province outlines partnership with developer on delivery of over 100 middle-income condominiums to downtown Victoria🔹

Middle-income homebuyers have the opportunity to purchase more than 100 affordable new homes in Victoria, thanks to an innovative partnership between the Province, through BC Housing, and Chard Development.

Located at 1109 and 1115 Johnson St., Haven will be a six-storey condominium with 104 homes, including a mix of studio, one-bedroom, two-bedroom and three-bedroom units. All units are reserved for families, seniors and individuals with middle incomes. Buyers will receive a no-interest, no monthly payment second mortgage to support their purchase. This second participating mortgage assists the buyer on the equity portion of their purchase, helping reduce the income required to obtain a first mortgage and reducing its monthly payments.

Qualifying buyers must have a combined household income no greater than $118,440 for homes with fewer than two bedrooms and an income no greater than $168,310 for homes with two bedrooms or more. Buyers will be required to make the home their primary residence for the first five years.

These new homes are being built in partnership with Chard Development through BC Housing’s HousingHub: Affordable Home Ownership Program (AHOP). The program was created to allow BC Housing to partner with the development community and municipalities throughout the province to create new homeownership opportunities for middle-income households.

“As a long-standing, family-owned developer, we take our role in the fight to improve housing affordability seriously,” said Byron Chard, president and CEO, Chard Development. “Haven is our second affordable homeownership offering in partnership with BC Housing and is a reflection of our commitment to creating a diversity of housing in Victoria.”

BC Housing will administer the interest- and payment-free second mortgages for all 104 homes. Buyers will not need to repay the mortgages until the 25-year term limit expires or if they sell their home. At the time of repayment, the homeowner must repay the proportionate share of the current market value of the home. For example, if the home was purchased with a 10% AHOP mortgage, the homeowner must repay 10% of the current fair market value at the time of repayment. The value from that investment is then returned to the municipality to re-invest in affordable housing.

These new homes are part of a larger development by Chard Development that will bring housing, a day care and commercial space to the Fernwood neighbourhood.

Construction on Haven is already underway and expected to be complete by early 2024. The homes are open for presale. Interested buyers can visit: www.havenbychard.com
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#194 freedom_2008

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Posted 08 March 2022 - 05:53 PM

Today.

 

 

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#195 MarkoJ

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Posted 20 March 2022 - 06:56 PM

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Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2021 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#196 Mike K.

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Posted 20 March 2022 - 09:01 PM

Love that massive sign!
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#197 freedom_2008

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Posted 01 April 2022 - 01:59 PM

849F0030-AA8B-4DDA-A387-E1E9A15560FF.jpeg


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#198 Mike K.

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Posted 01 April 2022 - 04:56 PM

Thank you!

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#199 Citified.ca

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Posted 13 April 2022 - 08:40 AM

This duo of projects just might be among the top two (collectively) or three fastest selling pre-sale campaigns in downtown Victoria in recent years.

 

Last chance: BC Housing-backed Haven and 12-storey Nest condos are 94% sold-out

https://victoria.cit...os-94-sold-out/


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#200 MarkoJ

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Posted 01 May 2022 - 07:10 PM

20220429_134023_resized.jpg

 

20220429_134026_resized.jpg


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2021 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


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