1673 replies to this topic

[MarkoJ]

I agree, Marko, it's hard for me to see any downside at all of this area.

 

I started living in Vic West renting at the Bayview in 2011 and I was like hmmmm this is going to be very nice one day, but I had trouble getting clients to cross the bridge. Even thought now Vic West has improved I still see a ton of upside as Dockside, Roundhouse, David Foster pathway, etc., are all finished up.

The best part is because of all the NIMYBs the density will be low, yet demand to live in Vic West eventually will be through the roof imo. The Dockside tower heights are a joke imo. Could have easily been double. 

[Mike K.]

Yes, the building heights are so short.

Vic West was such a great place to grow up. We didn’t understand all the negativity. It made no sense then, but Victorians hated crossing that bridge, and made up so many nonsense reasons why.

I can imagine a lot of small investors are going to be $1,000-$1,500 below the rental intake. A $540k mortgage on a $700k purchase is going to turn into a $575k mortgage with the GST, then you have strata, then you have insurance, then you have property taxes, which is an annual hit of around $6,000, or $500/month.

Monthly carrying costs are $4,300. If you only had 15% down, and your strata is an extra $100 more than I calculated, it’s going to be tough.

[downtownlurker]

Going to be quite a few more units hitting the market....difficult for investors to make the numbers work on rental units at these interest rates. 

 

Yep, yet another on the market: For sale: 108 369 Tyee Rd, Victoria, British Columbia V9A0B6 - 943948 | REALTOR.ca

 

Guess it is either the folks who can't make the numbers work on a rental in the current environment and need to get out, and/or the folks who got in early presale looking to flip upon completion to bag the difference (backup plan to the former likely).

 

Agree this is now and will only become a desirable place to be - heck, I live right downtown and have dreams of getting into a building like Encore eventually. Walking across the bridge is quick and it is a lovely walk. Very reasonable trade IMO to not have to deal with the constant downtown problems impacting my building, i.e. trespassing, package thefts, vandalism, constant harassment. I guess everyone has the same idea though, because the good units over here sell very quickly above ask, and especially so for the really desirable units. Even in this current environment.

[Nparker]

CoV council needs to target the Dockside Green area for the next "compassionate housing" site. 

[aastra]

 

Vic West was such a great place to grow up. We didn’t understand all the negativity. It made no sense then, but Victorians hated crossing that bridge, and made up so many nonsense reasons why.

 

You're still upset about that? I'm telling you, me and Billy were riding our bikes to your birthday party when a troll jumped out from under the Bay Street Bridge and tried to grab us. We were so scared we took off back home, and I guess we forgot to call you. Oh, and your birthday presents ended up falling into the water. A pod of orcas happened to be passing by at that same moment and they ate them.

[Nparker]

It could have been worse. They might have eaten Billy.

[aastra]

 

It could have been worse. They might have eaten Billy.

 

Billy was mugged on a subsequent trip into Vic West. He was beaten and left for dead. Bystanders just laughed and stepped over him as he tried to crawl back over the bridge. And then the black bears picked up his scent...

[aastra]

Seriously though, Vic West isn't nearly as bad as all that.

[Mike K.]

It was always the Oaklands kids who’d ride their bikes into VW, to cause trouble.

[Ismo07]

Seriously though, Vic West isn't nearly as bad as all that.

 

I call it Esquimalt East but not in front of Mike.

[aastra]

 

It was always the Oaklands kids who’d ride their bikes into VW, to cause trouble.

 

We were the James Bay toughs, thank you very much. But let's just say we had a different definition of "causing trouble" on the right side of the tracks as versus on your side. Causing trouble in my neighbourhood would involve things like riding bikes on lawns or twisting the swings at the playground. Causing trouble in your neighbourhood was more like the movie "The Warriors".

[Mike K.]

We only respected the Jameslands Oaks.

[LJ]

Vic West was such a great place to grow up. We didn’t understand all the negativity. It made no sense then, but Victorians hated crossing that bridge, and made up so many nonsense reasons why.

 

Now it serves as a moat, keeping all the Victoria riffraff out.

[Mike K.]

Ironicallly, it’s a buffer for Esquimalt.

How times have changed.