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The Horizon, phase 1
Uses: condo, townhome
Address: Tyee Road at Gaudin Road
Municipality: Victoria
Region: Urban core
Storeys: 4
Condo units: (studio/bachelor, 1BR, 2BR, townhome)
Sales status: sold out / resales only
The Horizon, phase 1, is a four-storey condominium building along Tyee Road at Gaudin Road in The Railyards, a... (view full profile)
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[Vic West] The Railyards | Condos; townhomes


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#601 aastra

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Posted 23 August 2023 - 10:18 AM

If you look up that dissemination area on Statistics Canada's GeoSearch you'll see an official population of only 644 back in 2021:

 

railyards_population_from_statistics_canada_geosearch.jpg



#602 Victoria Watcher

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Posted 23 August 2023 - 10:19 AM

I knew it! The article was way off.

#603 aastra

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Posted 23 August 2023 - 10:40 AM

According to the 2021 data, the population density of that small area was only slightly above the CoV's average of ~4,800 per square km, which is what I think we would expect considering the lowrise housing forms there.

But if the population of that small area was ~1,500 then the density would be just under 13,000 per square km, or more than 2.5 times as dense as the CoV's average.



#604 Victoria Watcher

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Posted 23 August 2023 - 10:42 AM

The article says 70% of the units are apartments, the rest townhouses. I’d suspect the apartment occupancy is barely over 2 people per unit, if that.

And over the 21 years, I bet at best the average selling price was $300,000 or $400,000.

So if he spent $400 million building the place he must have lost a lot of money.

Edited by Victoria Watcher, 23 August 2023 - 10:47 AM.


#605 dkuitu

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Posted 23 August 2023 - 12:36 PM

 

Railyards residential development in Vic West complete after 21 years
 
 
 
The Railyards’ colourful playground with a splash area is the newest and final piece in the site’s 21-year build-out where residential buildings have been constructed on top of what was once a bleak former industrial site in Vic West.
 
When developer Chris Le Fevre first walked the 13-acre property it was a “wasteland.” The former CN railyard had been remediated but left undeveloped until Le Fevre bought it for just over $3 million.
 
Today, close to 500 condominiums and townhouses have become homes to about 1,500 people. Le Fevre said he has spent nearly $400 million. Of that, more than $10 million went on amenities. About 30 per cent of the homes are townhouses and the rest are condos.
 
 
 
 
 
 
I sense a lot of figures above are inaccurate.  Mr. Le Fevre a bit of a fibber.
 
1.  I suspect the number of residents is closer to 1,000, than 1,500.  Canada averages under 2.5 people per household.
2.  He says he spent nearly $400 million.  But $400m divided by 500 units would be an average of $800,000.  That's not accurate.  There are 6 units listed for sale today, only two are over $800,000.   Ten years ago I suspect nothing sold much over $500,000.

 

 

It's not complete until they take the blue metal fence down.


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