183 replies to this topic

[RFS]

Starting at $289k is pretty reasonable 

[Glen]

Feedback on the PHOTO OP posted on Citified the other day.

 

What a complete disappointment the LEADERSHIP group exhibited.  Mayor Helps should have insisted that all the dignitaries either mask up or she wouldn't take part in the event.  People in leadership roles need to be EXAMPLES of what everyone needs to be doing.

Shameful Tresah

[Citified.ca]

Developer Edward Geric is the first Ten on the 10th participant of 2021.

 

 

Mass timber construction, the Mayfair District and junior hockey Q&A with Edward Geric of Mike Geric Construction

https://victoria.cit...c-construction/

[crustyraff]

Looks like the project is increasing the number of 2 bedroom suites available. The Northwest corner of building which faces Speed ave will have 2 bedrooms instead of 1 bedrooms from floors 2 to 11. 

 

 

Attached Images

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[Mike K.]

^Nice.

 

Very strong sales here. 30% of Tresah West is now sold. It's actually refreshing to see more demand for two-bedroom units as typically the demand is for more studios and one-bedrooms.

[crustyraff]

Yeah we bought into a 2-bedroom as we figured it would be a much more future-proof investment, and could see ourselves living in it much longer.  I am also glad to see more 2-bedroom units, seems more amenable to couples or FTHB. 

[Citified.ca]

April 6th

 

 

[crustyraff]

The Tresah website has recently removed all the floorplans for floors 6 to 11, whereas previously those were available for purchase and were generally identical layouts to the floors below them. Any clues as to what might be happening there? Sales had generally been very strong on the lower floors, but quite poor on the upper ones.

[Kapten Kapsell]

The Tresah website has recently removed all the floorplans for floors 6 to 11, whereas previously those were available for purchase and were generally identical layouts to the floors below them. Any clues as to what might be happening there? Sales had generally been very strong on the lower floors, but quite poor on the upper ones.

It's possible that the developer may have opted to hold back some inventory until later in the sales cycle, i.e. just before or after completion.  

If prices in the region continue to accelerate then this would allow the developer to capture some of that appreciation in the sales price; this would become even more important if labour/materials exceed the originally budgeted amount for the builder...

[Jackerbie]

Also possible that they're reconfiguring some of the layouts in response to market conditions and demand. This is a wood building after all!

[Mike K.]

Yes, there are reconfigurations going on to adapt to market conditions. Sales have been very strong so targets have been met and sales can temper down for a bit.

[crustyraff]

Major update from the developer:

“ November 26, 2021

Dear Tresah West homebuyers,

I’d like to thank you for your purchase and your ongoing enthusiasm for Tresah. This is a project that has attracted homebuyers and investors because of its beautiful design, value and the opportunity to be part of the first major residential development in Victoria’s growing Midtown neighbourhood.

As we’ve been planning for the upcoming construction of Tresah West, we’ve come to a decision that mass timber is no longer the best structural material for this building. There are challenges related to the mass timber supply chain, market demand, lack of local mass timber expertise and materials pricing that have led us to the decision to build with another structural material. This change will ensure we can deliver this building effectively and in a timely manner.

I’m very excited to announce that Tresah West will be built with recycled, lightweight steel and concrete. We’ve chosen this innovative approach because it’s sustainable, durable and has many benefits when it comes to the speed and simplicity of construction, home design and building maintenance and operations.

Though we are changing the building’s structural material, the overall design and quality will remain the same, as will your home’s floor plan and pricing. However, you will see some benefits to your space because of this move away from mass timber. In addition to a more open and airy home design, steel and concrete will also offer the benefits of superior soundproofing, building longevity and easy, cost-effective maintenance.

Our building schedule for Tresah will also remain the same. As a builder with more than 50 years of experience in this local market, we are very happy to have a construction plan in place to deliver your new home to you without delay. Tresah West will be a signature building in Victoria’s Midtown, and we look forward to showcasing this innovative and beautiful structure as we begin construction in the months ahead.

We will be closing our presentation centre for a brief period to refresh it with a bright and spacious new look and will reopen in early December. In the meantime, please don’t hesitate to get in touch with our sales team with any questions you have. “

[Victoria Watcher]

I’m very excited to announce that Tresah West will be built with recycled, lightweight steel and concrete. We’ve chosen this innovative approach because it’s sustainable, durable and has many benefits when it comes to the speed and simplicity of construction, home design and building maintenance and operations.

Though we are changing the building’s structural material, the overall design and quality will remain the same, as will your home’s floor plan and pricing. However, you will see some benefits to your space because of this move away from mass timber. In addition to a more open and airy home design, steel and concrete will also offer the benefits of superior soundproofing, building longevity and easy, cost-effective maintenance.

 

 

 

 

So many benefits.  Why did they ever want to go with wood?

[Nparker]

This is a major shift. I wonder how many existing purchasers will want to back out now?

[Nparker]

...Why did they ever want to go with wood?

To be woke.

[crustyraff]

As one of those existing purchasers, I gotta say the mass timber was  the selling feature, as it added a unique aesthetic that really appealed to me. Having seen mass timber used in other projects, I just love how it looks, nothing to do with being woke.   Not sure what I'm going to do now as I am essentially priced out of any similar-specced condo in Victoria. My hunch is that staying the course will be the best course of action, but we will see. 

[Mike K.]

Keep us posted, Crustyraff. Good news is, you’re still at the front door of a major shift in that area and the prices you paid are a great deal, relatively speaking.

Moving forward I can’t help but think mass timber will be more viable in rental and commercial projects where the costs can be extended over a longer period.

[Kapten Kapsell]

As one of those existing purchasers, I gotta say the mass timber was  the selling feature, as it added a unique aesthetic that really appealed to me. Having seen mass timber used in other projects, I just love how it looks, nothing to do with being woke.   Not sure what I'm going to do now as I am essentially priced out of any similar-specced condo in Victoria. My hunch is that staying the course will be the best course of action, but we will see. 

Crusty, I'm hoping you like your home (should you choose to continue on the purchase).  Generally speaking, the concrete/steel approach being taken by the developer may actually grant you greater resale value down the road.

 

Mods:  I'm assuming that the change in materials may not require the reissuing of a development permit ...?

[crustyraff]

Looks like they have redesigned their ground-floor lofts into 2-level 2 bedroom "townhomes", and they are now available for sale. Starting price is 950,000$ I believe.

 

"Formerly planned as lofts, Tresah’s limited collection of 2-level townhomes on the first floor of Tresah West offer the added perk of an exterior front door with large private patio, and direct access to Tresah’s green spaces and dedicated dog run area."

 

https://tresah.ca/ho...est-floorplans/

[Kapten Kapsell]

Several units were released to MLS today, including this 2-bed, 2-bath home:  https://www.realtor....ictoria-mayfair