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[Downtown Victoria] Centro condos | 54.4m | 19- & 14-storeys | Canceled


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#181 Nparker

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Posted 05 April 2008 - 05:22 PM

Call it the Interurban after the sites original use as a depot for the Interurban Streetcars.


I like it UrbanRail. Centro sucks big time.

#182 aastra

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Posted 05 April 2008 - 06:57 PM

I'll speak up in defense of "Centro." I think it's a pretty good name because it's true and it's relevant. It's the centre. This thing could have been called "The Vortex" or "Kundalini" or "Pistachio" or "Tranquility" or any of a thousand other silly condo names. The fact that they aren't trying to colour the truth with a flowery name scores them some points with me.

#183 Nparker

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Posted 05 April 2008 - 07:20 PM

Not untrue aastra, but there has to be a better way to name this project based on its location, than Centro. That name sounds like some sort of Mexican drain cleaner. If it must be named for its geographic location I'd prefer something like City Centre, Centennial View, Pandora Park or even the Cordora (for Cormorant & Pandora - Pandormorant just didn't sound right). By the way, if any of these gets used, I expect some sort of royalties. :P

#184 Caramia

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Posted 05 April 2008 - 07:36 PM

I like the Pistachio!

#185 2F2R

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Posted 15 July 2008 - 12:26 PM

Wow - over three months and not a word on the proposed developement on this most important piece of land - - - maybe the city has sent it back saying trim more floors off of it - - try to make it look like a four story walk-up!!!

#186 yodsaker

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Posted 15 July 2008 - 05:04 PM

How 'bout The Macadamia?

#187 Ms. B. Havin

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Posted 15 July 2008 - 07:33 PM

How 'bout The Macadamia?

...Macarena?
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#188 Phil McAvity

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Posted 16 July 2008 - 01:29 AM

How 'bout The Macadamia?


Yeah, but what kind of nut would live there?

Nothing has happened in three months? That means it probably didn't get approved by the 17 different panels, groups, and committees at City Hall.

#189 Mike K.

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Posted 25 January 2009 - 05:00 PM

What is the official status of these towers? Canceled? Stalled? Still proposed/planned?

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#190 concorde

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Posted 25 January 2009 - 05:48 PM

When I spoke with Townline in the fall, these towers were way down the list on their priorities.

Considering their recent financial issues, they have enough to worry about with the Hudson

#191 Koru

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Posted 06 May 2009 - 06:48 AM

I'd say with the article in todays paper that Centro w/townline is dead in the water. I'm on the blackberry and don't have the patience to post the link but the Roth site is listed by Colliers for 7.95 mil up from assessed value of 7.3 mil. Looks like Rick Illich is trying to generate some cash, shitty timing!

#192 amor de cosmos

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Posted 06 May 2009 - 08:10 AM

I'd say with the article in todays paper that Centro w/townline is dead in the water. I'm on the blackberry and don't have the patience to post the link but the Roth site is listed by Colliers for 7.95 mil up from assessed value of 7.3 mil. Looks like Rick Illich is trying to generate some cash, shitty timing!


this article?

City parking may take a hit
Roth Site 100-car lot now listed for asking price of $7.95 million

By Andrew A. Duffy, Canwest News Service
May 6, 2009

And though the sale price is well above the 2008 assessed value of $7.3 million, Colliers' Michael Miller said the lot has plenty going for it.

"It's unique in what it offers the market," he said. "This property has a lot of appeal in terms of its size, configuration, it has holding income and in-place zoning."

The income is $216,000 annually paid by Robbins Parking for the use of the parking area. That lease deal is subject to termination by the lot's owner with 60 days notice.

Miller said the lot's location is also a major plus for any potential developer.

"This sits squarely in a provincial government office precinct, it's centrally located, close to city hall and has two-street access," said Miller, noting the lot faces Pandora and is backed by Cormorant Street. "Whether there is demand for that kind of space right now remains to be seen."

http://www.timescolo...8387/story.html

#193 concorde

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Posted 06 May 2009 - 02:33 PM

Not bad, Townline only paid $7.1 million for it

#194 Koru

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Posted 06 May 2009 - 04:25 PM

Not bad, Townline only paid $7.1 million for it


course the real question remains...what will Townline actually get rid of it for?

#195 VicHockeyFan

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Posted 06 May 2009 - 04:37 PM

A $7+M property that only earns $216,000 per year is not very good.

A less than 3% return, and that's before property tax.

#196 Phil McAvity

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Posted 06 May 2009 - 11:58 PM

^I don't know what the hell you're talking about. With that kind of money, it would only take about 33 years to pay off as long as you don't pay any taxes.

If the site does get sold, where will all those cars go? Unless undergound parking is provided with a new project, it might be time for the city to consider expanding the Johnson St. parkade like they did the Yates St. parkade years ago.
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#197 Bob Fugger

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Posted 07 May 2009 - 07:10 AM

^ How do you figure? Assuming Townline put 10% down and were able to amort it over 30 years, their monthly mortgage payment is still upwards of $30k. Hell, if they put down 50% they still don't cover their annual mortgage payments.

And if they bought it with a commercial line of credit, they may cover interest-only payments, but they never pay it off.

#198 Kapten Kapsell

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Posted 30 March 2010 - 06:50 PM

Did Townline ever sell this property?

If not, perhaps they can develop it as "Hudson Annex". ;)

#199 Mike K.

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Posted 30 March 2010 - 08:05 PM

The Hudson, Hudson Mews, Hudson Walk, Hudson Place, and now Hudson Annex? That ought to do it ;)

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#200 G-Man

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Posted 30 March 2010 - 08:48 PM

Isn't Hudson Mews and Hudson Place the same building?

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