1035 replies to this topic

[Mike K.]

Certainly if taking a longer term outlook the scenario is more risk laden. These towers won’t be completed until at least 2030, so you’re not bringing inventory onto the market tomorrow in the present-day market, and Starlight is about to start construction on the first ~500 of 1,500-units at HGV.

To go from needing rentals for viability, as their application claimed in late 2020, to slashing rental units by over 50% within the span of a year, is a tell tale sign something is going on.

[spanky123]

The market for buying large rental towers has really started to soften. The possibility that rent controls will be linked to the unit rather the tenant has been the final dagger to the heart for a lot of institutional investors like pension funds.

 

You are right about that. I know of a few owners that are quickly trying to unload the properties while there is still some money in the market. Most people think that the prospect of the NDP tying rent controls to the unit is very real and will be the precursor to widespread Government ownership of rental properties as owners will be forced to sell at liquidation prices to what will essentially be the only buyer.

 

IMHO the Government would have no qualms about screwing over a Starlight or Centurion as greedy capitalists that were profiteering.

Edited by spanky123, 16 December 2021 - 08:27 AM.

[Nparker]

Is than an example of large, state controlled rental projects that have ever really been more than slums for the poor?

[berzele]

The previous Roundhouse submission in spring of 2021 assumed that they would be able to move the rail line a bit to the south, which allowed for different building and street / walkway placement.  It was a cool out of the box idea for a challenging site, but I figured at the time that it would be impossible for them to jump through all the hoops needed to get the rail line moved.  Since this new submission shows the rail line in its current location, I'm guessing that is one of the reasons for the changes. 

 

I also noted that the previous submission included way more details and drawings, and they had obviously spent a lot of time and money on that package. It was 112 pages compared to the new submission's 20 pages.

[Casual Kev]

We need a Mike Harris-type government that's not afraid to knock municipalities down several notches. Why successive administrations would rather ruin the entire housing market than tell cities they maybe shouldn't make building so hard, I'll never know. 

[AllseeingEye]

Sorry not the update most here are looking for to be sure for Bayview, but as a rail geek I thought this T-C story this morning was very cool.

 

Assuming of course this turkey of a redevelopment project ever takes flight IMO it'll be fantastic to have this little fella scooting back and forth along the rails moving the rolling stock to and fro. This is actually a relatively rare find; I remember seeing a couple of these switcher locos on the prairies and in Ontario in the 60's/early 70's on a couple of our family trips by rail across the country - these models are small but very powerful:

 

https://www.timescol...ailyard-5073835

 

Wikipedia provides a much better look at one these old girls and as indicated in the wiki article the only other (known) preserved and working units of this class in Canada are currently in Edmonton and Hamilton.Makes sense as these guys were typically found in the larger rail-yards such as Edmonton, Winnipeg, Montreal way back in the day:

 

https://en.wikipedia...,_Mar_2017.jpeg

[Kapten Kapsell]

This rezoning request has been revised and resubmitted on Dev Tracker.  A summary of the changes (note:  this isn't the only image in the booklet with a Ken Mariash photobomb):

 

Edited by Kapten Kapsell, 15 June 2022 - 02:16 PM.

[Dr. Barillas]

This rezoning request has been revised and resubmitted on Dev Tracker.  A summary of the changes (note:  this isn't the only image in the booklet with a Ken Mariash photobomb):

 

 

I wish they would just get on with it or sell it. Figure it out already. 

Edited by Dr. Barillas, 16 June 2022 - 09:22 AM.

[Kapten Kapsell]

$15 million affordable housing contribution announced for Roundhouse: https://www.cheknews...operty-1068502/

Edited by Kapten Kapsell, 28 July 2022 - 05:12 PM.

[Victoria Watcher]

I’m still unclear why his buildout has been so slow.

He’s also 74 years old.

Hang it up?

Edited by Victoria Watcher, 28 July 2022 - 05:25 PM.

[Nparker]

$15 million affordable housing contribution announced for Roundhouse:...

Does this mean it's going to end up being as aesthetically pleasing as Hudson Place 2? 

[Nparker]

...the group believes shovels could hit the ground for some of the buildings in 2024, with some of them opening in 2027...

 

 https://www.cheknews...operty-1068502/

How many start dates have we had for this parcel of land?

[Nparker]

Bayview Properties has recently submitted an application for rezoning on their roundhouse property in Vic West, dubbed The Roundhouse....

15 years and counting.

[aastra]

 

Ken Mariash announced his intention Thursday to donate $15 million for the construction of an 18-storey building on the property exclusively reserved for affordable housing.

 

18 stories of bland panels and small windows would certainly make for a hilarious ending to the Songhees architectural design saga. Seriously, let's hope it's a lot better than that.

 

 

...affordable to people with incomes as high as $120,000...

 

Things that make you go hmmm...

[Victoria Watcher]

Somghees needs more turrets.

Especially if the Nazis invade.

Edited by Victoria Watcher, 28 July 2022 - 06:17 PM.

[Mike K.]

The caveat seems to be the project must be approved as soon as possible, or it may not be viable.

[Tom Braybrook]

The caveat seems to be the project must be approved as soon as possible, or it may not be viable.

no affordable deal without Council concessions on massive rezoning first!

[Vin]

Somghees needs more turrets.

Especially if the Nazis invade.

You do mean the IJN (Imperial Japanese Navy), don't you? I do have a credible source: this is from "The Man in the High Castle", and definitely not hearsay.

[Barrrister]

Fifteen million is not going to build 18 floors of affordable housing especially since the land is not being donated. I am still waiting to see him build all the theater and other amenities that he has repeatedly promised when flogging the other building.

[Victoria Watcher]

The group that’s long been in the process of overhauling two blocks in Vic West with housing and hotels has announced millions of dollars for an affordable housing site in their recently updated project proposal.

If the proposal is approved by Victoria council, the donation of a $15-million site by Bayview Place developers Ken and Patricia Mariash aims to create at least 180 affordable units in a building at the southeast corner of Esquimalt Road and Catherine Street. The Greater Victoria Housing Society (GVHS) would operate the site.


https://www.vicnews....-vic-west-site/

Edited by Victoria Watcher, 01 August 2022 - 03:15 PM.