604 replies to this topic

[Mike K.]

With SFDs so far out of reach now, and townhomes now priced where SFDs were a year ago, the only viable option today are 2BR larger condos. We’re going to see this trend shape up at Dockside, and here at the RY.

[Nparker]

...the only viable option today are 2BR larger condos...

So my 900 square foot, 2 bedroom condo just became marketable again?

[sebberry]

That's what I did. Bought a 500 sq/ft pre-sale unit at 834 without parking in 2009 for $198k. Lived in it a few years and it's been an excellent rental ever since then. Mind you right now I live in 1,000 sq/ft and it's 300 sq/ft too much. My ideal size is 700 sq/ft one bed+den but I was super comfortable in 500 sq/ft as well.

 

That just amazes me.  I'm tripping over myself in 1100sq-ft as it is.    

 

These bachelor places - honestly, the only time you should be sleeping within reach of the kitchen is when you're passed out on the floor after your 19th birthday party.

[sebberry]

With SFDs so far out of reach now, and townhomes now priced where SFDs were a year ago, the only viable option today are 2BR larger condos. We’re going to see this trend shape up at Dockside, and here at the RY.

 

I really like the latest crop of townhomes - two storeys over top a double-end-to-end garage but you're right, they're 5-600k now.  For me what's really important is not being able to touch opposing walls when I stretch my arms out, storage and security.  Private entry is a particularly enticing feature too.  I think I'll start a Gofundme.

[Mike K.]

The average for townhomes in February was $682k, and that's re-sale. New-builds are ~$850k+, mostly, with duplex and triplex townhome-styled homes in the $650k-$700k range in Sooke, and even then only a handful remain as pre-sales.

[Casual Kev]

Dumb question, but with townhomes being so in demand why not just make more two-floor condos that can try to replicate that experience? Maybe put bedrooms in the bottom floor so no one has to worry about neighborly noise during bedtime. Have laundry area be under stairs to minimize sqft loss from having to have access to 2nd floor. Save on costs if you can connect the two units with woodframe then only have concrete every two levels, from the outside just having a really high floor instead of two. Would that even comply with the building code? 

Edited by Casual Kev, 09 March 2021 - 10:08 PM.

[jasmineshinga]

I did that up in Nanaimo, right by city hall on Franklyn. Nice two storey "townhouse" condos at grade. Private entrances, little patio, streetview. They had to be encapsulated with non-combustible (concrete), and the additional costs of the security for all those front doors, meant there wasn't much more profit versus the simpler apartment style condos.

 

Is there a market? Yes. Is it in the developer's interests to bother? Not in a hot market like we have.

[Casual Kev]

I did that up in Nanaimo, right by city hall on Franklyn. Nice two storey "townhouse" condos at grade. Private entrances, little patio, streetview. They had to be encapsulated with non-combustible (concrete), and the additional costs of the security for all those front doors, meant there wasn't much more profit versus the simpler apartment style condos.

 

Is there a market? Yes. Is it in the developer's interests to bother? Not in a hot market like we have.

 

Interesting, thanks for the insight. In this market might as well minimax and not take any risks I guess.

[m3m]

Interesting, thanks for the insight. In this market might as well minimax and not take any risks I guess.

 

There was a recent building in Vancouver that has several "sky lofts" like this.  I think it's a great idea. 

 

https://www.8xonthep...k.com/gallery/ 

[Kapten Kapsell]

New plans and documents are up on DevTracker for the final phase.  Total unit count is now 38, and there is a renewed focus on creating a visual gateway to the community.

 

One of the new renderings:

 

[Nparker]

Yuck. I hate those elongated balconies. It looks like a motel from the 1960s.

[Mike K.]

Down from approximately 100-units, the new unit count is 38, as a grand total for the final phase of construction at Railyards?

[yellow_baron]

For ease of reference -  https://tender.victo...509074829754255

 

Seems like 34 2 bed and TH and 4 studios. I don't mind the updated design, fits in with what's already there and they've done a good job with shielding the development from the Bay Street bridge. The unit sizes are a good mix of large bedrooms and townhomes with a few studios sprinkled in here are there. 

[Kapten Kapsell]

Down from approximately 100-units, the new unit count is 38, as a grand total for the final phase of construction at Railyards?

 

The new/revised letter to the city indicates "A decrease of 106 residential units to a total of 38 units with 90% 2 bedroom family-oriented and 10% studio units", so that means that they were previously proposed 144 units.  They are reducing parking to 55 units which would still seem to be ample for the development. 

 

The letter can be found here:  https://tender.victo...509074829754255

[TheCesspit]

Disappointed this is more expensive for most people 2 bedroom places or tiny studios - no 1 bedrooms for working couples? Oh well.

[Kapten Kapsell]

Disappointed this is more expensive for most people 2 bedroom places or tiny studios - no 1 bedrooms for working couples? Oh well.

The good news :  if you're in the market for a pre-completion 1-bedroom condo in the City of Victoria, there are several developments offering units in this size category including:

• Haven/Nest
• Dockside Green (next phases)
• Mod
• Capital Park
• Bellewood Park
• The Redfern
• Treesah

If the Cook/Pendergast project by Aragon is approved, that will offer another option.

[Mike K.]

Yup, plenty on offer. Check out https://victoria.citified.ca/condos/ and play around with the toggles.

[Kapten Kapsell]

This is going to CotW on Thursday June 3.

[Kapten Kapsell]

Phase 3 is going to Council for final approval on Thursday July 15.  It is not a public hearing as only a development permit is being sought...

[laconic]

There has been some equipment onsite for the last several weeks, including a large excavator.