1074 replies to this topic

[Tony]

A current challenge for the city moving forward as pointed out at the last meeting on this development  and discussed here is it needs transport Canada permission related to plane take off zone and building height in that zone (west to east, the least frequently used take off direction I think? . Current building heights and location do not meet current guidelines.

[Mike K.]

It's a complex project. It can take a while for fourth reading. We also don't know what's going on in the background. Are there changes being sought? Is the developer re-imagining an element of the project post-approval that needs more scrutiny from the planning department?

 

How long has it been since Harris Green was approved? About 1.5 years, or just under. Still no activity on-site.

[Victoria Watcher]

Two massive Victoria developments to forge ahead, others may get shelved

 

Developers of giant projects in Vic West and Harris Green say they hope to start construction soon despite economic challenges.

 

 

 

 

 

The Roundhouse project, which includes 1,870 residential units in nine towers ranging from 10 to 32 storeys, was given approval by Victoria council in January.

 

Mariash said work on the site at 251 Esquimalt Rd., 210 Kimta Rd. and 355 Catherine St. is dependent on working out details and ironing out wrinkles with the city.

 

While he had hoped to get shovels into the dirt this year, he does not expect an agreement with the city until the end of this year or early next.

 

He admits in any other city he may not be forging ahead having spent millions in carrying costs for the site he bought 25 years ago.

 

“If someone had told me it would be $200 million and not $50 million, who knows,” Mariash said. “When I started this I was 49, now I’m 77.”

 

 

 

 

 

https://www.timescol...shelved-9309429

Edited by Victoria Watcher, 04 August 2024 - 05:57 AM.

[Victoria Watcher]

Two massive Victoria developments to forge ahead, others may get shelved

 

Developers of giant projects in Vic West and Harris Green say they hope to start construction soon despite economic challenges.

 

 

 

 

 

The Roundhouse project, which includes 1,870 residential units in nine towers ranging from 10 to 32 storeys, was given approval by Victoria council in January.

 

Mariash said work on the site at 251 Esquimalt Rd., 210 Kimta Rd. and 355 Catherine St. is dependent on working out details and ironing out wrinkles with the city.

 

While he had hoped to get shovels into the dirt this year, he does not expect an agreement with the city until the end of this year or early next.

 

He admits in any other city he may not be forging ahead having spent millions in carrying costs for the site he bought 25 years ago.

 

“If someone had told me it would be $200 million and not $50 million, who knows,” Mariash said. “When I started this I was 49, now I’m 77.”

 

 

 

 

 

https://www.timescol...shelved-9309429

 

 

 

And he will be 78 this year.

 

Is this thing ever going to start?

[Barrister]

I doubt if this is going to get built by him and I would not be too sure about Harris Green. 

 

On a serious note, since Canada's population is now projected to remain stable or even decrease over the next five years is there some reason to expect Victoria's population to keep growing dramatically?

 

The Canadian birth rate is 1.33 children per woman (2022), BC is negative for interprovincial immigration, the number of Canadians turning 65 is less this year than last year and will continue to decline (general measure for retirement age)

and while the number of people over 65 will continue to increase the number turning 65 is less than the number either dying or entering assisted living (assisted living takes them out of the housing market). One of the drivers of Victoria real estate demand has traditionally been the baby boomers retiring. We have reached the tipping point where the boomers are checking out faster than they are checking in.

 

I am sure that there are many other factors at play here but I seriously think it is time to revisit our assumptions about housing demand. At the very least an intelligent and respectful conversation is appropriate considering the vast amounts of public money being funneled to developers.

[Mike K.]

I doubt if this is going to get built by him and I would not be too sure about Harris Green. 

 

On a serious note, since Canada's population is now projected to remain stable or even decrease over the next five years is there some reason to expect Victoria's population to keep growing dramatically?

 

The Canadian birth rate is 1.33 children per woman (2022), BC is negative for interprovincial immigration, the number of Canadians turning 65 is less this year than last year and will continue to decline (general measure for retirement age)

and while the number of people over 65 will continue to increase the number turning 65 is less than the number either dying or entering assisted living (assisted living takes them out of the housing market). One of the drivers of Victoria real estate demand has traditionally been the baby boomers retiring. We have reached the tipping point where the boomers are checking out faster than they are checking in.

 

I am sure that there are many other factors at play here but I seriously think it is time to revisit our assumptions about housing demand. At the very least an intelligent and respectful conversation is appropriate considering the vast amounts of public money being funneled to developers.

 

Barrister, just stop, man.

 

I've reached the limit of seeing you repeating this, thread after thread.

[Victoria Watcher]

Let me put is this way, Barrister. The population has find all ovrer the place, that last 150 years. It’ll all work out, as it always has.

[Barrister]

Mike, i would be happy if you actually counter my points and there may be points that indicate that Victoria is exceptional. I am not sure that simply stating that the population has always grown and therefore it must continue.

 

I am aware that this is not a question that people involved in the development industry are happy to address or have others even consider.

 

But I respect your opinion so give me four or five drivers behind Victoria's increasing growth. I am happy to help with the first one:- there is a good chance that the number of provincial government jobs will increase and create an influx of employees possibly. 

[Victoria Watcher]

Mike, i would be happy if you actually counter my points and there may be points that indicate that Victoria is exceptional. I am not sure that simply stating that the population has always grown and therefore it must continue.

 

I'm not even saying that (that the population will always increase) .  But for the past 150 years, it has all worked out just fine.  It'll work out going forward.

[Tony]

For information a 2023 report on aging and housing.

 

https://assets.cmhc-...jc4OS4zMC4wLjA.

[Barrister]

I am sure that it will work out and I expect that the Victoria market will be more stable than say Vancouver over the next decade. What I am suggesting that we may be entering a change from the frenzied period of the last ten years. A greater refocusing on tourism and even light specialized manufacturing to increase job growth might be prudent. 

 

We seem to be building almost exclusively rental buildings and I am wondering why the condo developments seem to have stalled and are there changes needed to be made to bolster that sector.

[lanforod]

Provincial public sector jobs might increase over the medium term just due to population growth, but it may not actually be a net increase here in Victoria because that's no longer a requirement for employment for many of the jobs. Full-time remote work is available for many now as long as you're residing in BC and thats an attractive option given the cost of living here.

 

There's currently an external hiring freeze in the BC public service as well, Eby does appear to be paying a least a little bit of attention to the ballooning costs.

 

Another factor in that too -  bargaining starts this week I believe with the BCGEU. I doubt that goes well and any significant increase in pay is likely to be offset by some scale back in hiring for a longer period.

[Barrister]

Wonder what Victoria can do to attract a larger pool of Provincial government jobs going forward?

[lanforod]

nothing smart

[Mike K.]

Mike, i would be happy if you actually counter my points and there may be points that indicate that Victoria is exceptional. I am not sure that simply stating that the population has always grown and therefore it must continue.

 

I am aware that this is not a question that people involved in the development industry are happy to address or have others even consider.

 

But I respect your opinion so give me four or five drivers behind Victoria's increasing growth. I am happy to help with the first one:- there is a good chance that the number of provincial government jobs will increase and create an influx of employees possibly. 

 

You haven't provided any evidence to support your claims, and cite an unnamed Toronto banker as your source.

 

Then you discount every reasonable response to your claims.

 

I just don't think you're acting in good faith here.

[Barrister]

Gee Mike, birth rate for 2022 is Stats Canada, google it, number of Canadians and demographic charts are also stats Canada, interprovincial migration numbers are stats Canada and population projections are the globe and mail and Toronto stair articles which you also can google.

 

That immigration numbers for student and work permits have been in lots of headlines over the last couple of months. Which part are you having trouble with?

[NowNotMe]

Sir, this is a Wendy’s. 

 

Here for any updates on the Roundhouse. 

[Victoria Watcher]

$6,400,000

 

 

 

909/910 100 Saghalie Rd
Victoria, British Columbia V9A0A1

 

Perched high on one of Victoria's most prestigious buildings, this one-of-a-kind, 4234 sq ft penthouse offers unparalleled luxury and breathtaking panoramic views. With a rare position that overlooks the dynamic activity of the Inner Harbour, the tranquil waters, and majestic mountain vistas, this home spans East, South, and West, providing views of the Olympic Mountains, Port Angeles, and the iconic Mt. Baker. The open-concept design is flooded with natural light, thanks to expansive windows that frame the ever-changing scenery.

 

https://www.realtor....ctoria-songhees

 

 

Edited by Victoria Watcher, 28 February 2025 - 02:07 AM.

[Barrister]

I can think of other things to buy at 6,4 mil.

[G-Man]

That place is pretty amazing wow. Too bad the neighbourhood is so quiet though. I would rather have that condo but downtown somewhere.