[Downtown Victoria] Vivid at the Yates | Attainable condos; market commercial | 20-storeys | Built - completed in 2021

Affordable housing has penthouse suites?

As a purchaser in the Yates, I am fairly sure that I am, in part, helping underwrite a portion of the Vivid.  Is it a model of how to address downtown housing affordability? Maybe not; but I am willing to wait and see how it plays out.  If it results in a few more young families moving into the core and making for a more diverse demographic, bravo.

As a purchaser in the Yates, I am fairly sure that I am, in part, helping underwrite a portion of the Vivid.  Is it a model of how to address downtown housing affordability? Maybe not; but I am willing to wait and see how it plays out.  If it results in a few more young families moving into the core and making for a more diverse demographic, bravo.

Well, that's certainly how it plays out in other projects where a developer commits to some type of scheme.

Helps has done more for Victoria’s built environment than any other mayor over the last 30+ years. I’m not sure there’s all that much criticism of her in that regard.

Everyone understands that Helps is 1 of 9 votes on city council?  its not her way or the highway and she only gets a portion of the credit overall

Also there hasn't been much of an appetite for high rise in Victoria because typically land was cheap for half of those 30 years

15 one bedroom units are remaining.

Reading through the disclosure statement for Vivid for a client and interesting the Yates on Yates has vented dryers and Vivid they've gone with condensing dryers. I wonder how much cost is saved not having the sheet metal work?

Well, that's certainly how it plays out in other projects where a developer commits to some type of scheme.

The problem is that the premium that is paid to subsidize 'affordable' units is not recoverable. When the units hit the market in 3 years (after the lockup expires) the prices will be the same. 

The problem is that the premium that is paid to subsidize 'affordable' units is not recoverable. When the units hit the market in 3 years (after the lockup expires) the prices will be the same. 

Not a chance.  Yates is far, far above Vivid in almost every component and finish.  These are not comparable buildings. 

Although prices at Vivid are likely to jump up in 3 years, that is because the prices are artificially low.  Prices at Yates will  not appreciate as much as vivid (in terms of a % rise), which may appear to shorten the price gap between them.  Despite this, I have no doubt that Yates will command a far better $/sqft over Vivid.  

Not a chance.  Yates is far, far above Vivid in almost every component and finish.  These are not comparable buildings. 

 

Although prices at Vivid are likely to jump up in 3 years, that is because the prices are artificially low.  Prices at Yates will  not appreciate as much as vivid (in terms of a % rise), which may appear to shorten the price gap between them.  Despite this, I have no doubt that Yates will command a far better $/sqft over Vivid.  

I was referring to units in the same building.

An artist's rendering of Vivid at the Yates, a 20-storey below-market condominium tower underway between the 800-blocks of Yates and Johnson streets in downtown Victoria. Vivid's '2016 pricing in 2018' has helped over 120 purchasers get into Victoria's red-hot real-estate market.

https://victoria.cit...old-out-status/

A downtown Victoria condominium project that gained notoriety for its obtainable homes through a BC Housing affiliation is 90% sold-out, according to Chard Development.

July 6

These photos look amazingly like the ones in the Yates on Yates thread. 

The Vivid website has said that there was less than 10 units left for the last week or so, but I just noticed there is only one floorplan left. 

Is this on the verge of being completely sold out which will lock in the BC Housing financing?

Yes, it's nearly 100% sold-out. In case you missed this piece: https://victoria.cit...old-out-status/

One unit left. It's Unit 308 with a "wonderful" view of the BC Environmental Assesment Office/Telus building 

https://www.realtor....V8W1M2-Downtown

Not disagreeing it is a good price, but just to compare there are 6 houses in Oak Bay all with full yards selling for around $550/sf

One unit left. It's Unit 308 with a "wonderful" view of the BC Environmental Assesment Office/Telus building 

https://www.realtor....V8W1M2-Downtown

I'd buy if I had the money tbh. 

And SFHs should have lower sqft pricing than condos, diminishing marginal returns and all that. The difference between a 350 sqft and a 550 sqft unit is massive, but hardly noticeable if it's 2300 sqft vs 2500 sqft.