This would be such a boon to the Mayfair area.
CANCELLED Speed and Frances, west tower Uses: condo, commercial Address: 606 Speed Avenue Municipality: Victoria Region: Urban core Storeys: 12 Condo units: (loft, 1BR, 2BR) Sales status: in planning |
Learn more about Speed and Frances, west tower on Citified.ca
[Burnside/Gorge] Speed and Frances towers | condos; commercial | 12 & 12-storeys | Cancelled
#161
Posted 29 October 2015 - 02:11 PM
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#162
Posted 29 October 2015 - 02:32 PM
12 story "towers"...
lol, I always get a kick out of a certain TC reporter who even refers to 8 stories as a tower.
Does not quite fit the image of the CN Tower, Sears Tower, Eiffel Tower, etc, etc.
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#163
Posted 29 October 2015 - 03:04 PM
- sdwright.vic likes this
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#164
Posted 29 October 2015 - 03:13 PM
And living there, you could be downtown or at Uptown in minutes by transit. Good spot for rentals and presumably lower price condos.
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#165
Posted 30 October 2015 - 06:11 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#166
Posted 30 October 2015 - 01:56 PM
#167
Posted 30 October 2015 - 02:21 PM
The City still has to decide how much they'll take and what form the layments will be in.
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Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#168
Posted 30 October 2015 - 06:13 PM
http://www.sfu.ca/co...ameron-gray.pdf
#169
Posted 30 October 2015 - 10:22 PM
I thinks that's an overly simplistic view of the issue. I encourage you to read up on amenity contributions. Cameron Gray, a former director at the Housing Centre in Vancouver wrote a good paper about the history of CACs in Vancouver. I won't rewrite what he said in my post but here is the link. It's a good read.
http://www.sfu.ca/co...ameron-gray.pdf
Vancouver and Victoria are very different markets, and what can be justified in Vancouver cannot necessarily be justified here.
#170
Posted 31 October 2015 - 09:00 AM
Vancouver and Victoria are very different markets, and what can be justified in Vancouver cannot necessarily be justified here.
I get that. This project has been reviewed by a professional land economist who has recommended the value of the amenity contribution. If this were in Vancouver, the amenity contribution would be in the millions as land values are greater.
#171
Posted 31 October 2015 - 11:10 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#172
Posted 01 November 2015 - 08:52 AM
http://www.timescolo...loper-1.2101013The developer wanting to build two 12-storey residential towers across from Mayfair Shopping Centre is balking at the prospect of paying the city $975,000 for amenities.
Victoria requires developers to make an amenity contribution tied to changes in zoning that increase allowable density, which increases the value of the land. For properties outside the core, city policy calls for an amenity contribution equivalent to 75 per cent of the additional value of the land, as determined by an independent consultant.
In this case, the potential increase is estimated at $1.3 million, so the amenity contribution would be $975,000.
rendering, looks like the speed side
http://www.praxisarc...esidential.html
Edited by amor de cosmos, 01 November 2015 - 08:53 AM.
#173
Posted 01 November 2015 - 08:58 AM
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#174
Posted 01 November 2015 - 09:12 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#175
Posted 01 November 2015 - 09:51 AM
I'm not sure we should be rooting for the city here. This levy raises the cost per condo unit by over $5,500. On the one hand we complain about housing costs, but on the other we're championing a levy against home buyers?
The City still has to decide how much they'll take and what form the layments will be in.
They will probably also force the developer to throw in some crazy sewage holding tank the pumps only at night. The tank cost $3,000 per unit at the Escher building. Who know what else the city imposes. By the time you add up $5,500 + other stuff from city + PTT + GST the consumer is having to absorb another 15% plus aside from what it actual costs to build the unit.
- jonny likes this
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#176
Posted 01 November 2015 - 10:04 AM
We should be incentivizing not punishing.
- sebberry likes this
#177
Posted 01 November 2015 - 10:13 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#178
Posted 01 November 2015 - 11:04 AM
So really what you're saying Marko is we don't actually give two shits about "affordable housing"?
We should be incentivizing not punishing.
Affordable housing is not attainable unless the various levels of government relax thier fees and we all know that is not going to happen.
It is a great "plank" in a campaign platform but not much more than that. We continually elect socially conscious politicians and yet we see very little in the way of change. Money talks and thus social housing continues to be a pipe dream. Our locally elected officials all talk the talk prior to election but none of them walk the walk after elected..
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#179
Posted 01 November 2015 - 11:25 AM
It's like the city doesn't understand basic economics at times.
It is even worse on small residential projects. For example, one of the many things, they will make a builder or owner-builder replaced the entire frontage of the sidewalk (irrelevant of existing condition)/boulevard curb where the driveway is and the re-asphalt once the curb is replaced. Ohhh yea, and the company you are using has to be approved by the city.
All of their policies add immense cost, percentage wise, to a small project. You can't exactly hire uncle Bob to come do curbs/re-asphalt.
I think within 24 months it won't be possible to find a single family home in City of Victoria on a 5,500 sq/ft lot under $1,000,000.
Condos will need to up in price too with all the crap being thrown at bigger projects.
New house in Oakland's area. Previous sidewalk was just fine.
Edited by MarkoJ, 01 November 2015 - 11:28 AM.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#180
Posted 01 November 2015 - 11:33 AM
I guess someone has to pay for the $55+ million payroll at city hall.
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
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