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BUILT
The Pearl Residences
Uses: condo, commercial
Address: 1628 Store Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 8
Condo units: (studio/bachelor, 1BR, 2BR, 3BR)
Sales status: now selling
The Pearl Residences is an eight-storey condominium proposal situated along the 1600-block of Store Street in ... (view full profile)
Learn more about the Pearl Residences on Citified.ca
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[Downtown Victoria] The Pearl Residences | Condos; commercial | 8-storeys | Built completed in 2023


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605 replies to this topic

#201 Nparker

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Posted 14 April 2019 - 02:07 PM

Filling this terrible hole in the urban landscape is a blessing. It's such a shame that the Northern Junk project isn't being given the opportunity to do the same thing.



#202 Hotel Mike

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Posted 14 April 2019 - 02:33 PM

Any date for a groundbreaking?


Don't be so sure.:cool:

#203 darlenet8

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Posted 15 April 2019 - 09:14 AM

More perspective...

 

47555819562_6525c63e23_k.jpg

 

 

47609031691_ca873900ed_k.jpg

 

More perspective...

 

47555819562_6525c63e23_k.jpg

 

 

47609031691_ca873900ed_k.jpg

Great perspective and shots, Gary! That must be quite a lens!  I may come looking for you in the future...


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#204 darlenet8

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Posted 15 April 2019 - 09:15 AM

Any date for a groundbreaking?

Earliest date will be late this summer/early fall.  All entitlements have been received from the city, the building permit has been applied for...



#205 ovovov

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Posted 10 August 2019 - 08:18 PM

Any studio left? Thanks
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#206 Wayne

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Posted 11 August 2019 - 07:05 PM

Any studio left? Thanks

Not sure but great pics



#207 Brantastic

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Posted 06 September 2019 - 03:57 PM

Any updates on when construction starts? Soon I hope as it’s now late summer/early fall.
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#208 Jackerbie

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Posted 09 September 2019 - 01:03 PM

^ Building Permit status is "On Hold" according to the Open Data portal



#209 Nparker

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Posted 09 September 2019 - 02:47 PM

I don't like the sound of that.



#210 ovovov

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Posted 27 September 2019 - 10:18 PM

over heard 1 BED ROOM  has been reduced by 45k.

2 bed room has been reducted by 75k

 

can anyone confirm what happens to the one/owners who has already brought in? Do they gets a price adjustment?

 

I always wondered the answer...

 

Thank you in advance 



#211 aastra

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Posted 28 September 2019 - 07:43 AM

 

over heard 1 BED ROOM  has been reduced by 45k.

2 bed room has been reducted by 75k

 

Housing crisis is over then?



#212 Rob Randall

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Posted 28 September 2019 - 07:47 AM

^Yes it is, and if you're in need of a pocket of air 50 feet above a parking lot this may be the opportunity for you.



#213 ovovov

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Posted 28 September 2019 - 11:57 AM

Housing crisis is over then?

 

 

well, someone brought at 499k two months ago, and yesterday I heard that the sales are having a "limited time" offering-- a reduction of 45k for the remaining one bed room units....  My friend asked me if I want to scope another one with him...... I guess the crisis is an opportunity for some and a negative event for the ones who locked in before the price adjustment...



#214 LJ

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Posted 28 September 2019 - 12:42 PM

You make the best deal you can when you buy, can't have regrets over somebody getting a better deal at a later date. If the prices went up by 20% would you be willing to share your windfall with new buyers?


Life's a journey......so roll down the window and enjoy the breeze.

#215 JanionGuy

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Posted 28 September 2019 - 09:04 PM

well, someone brought at 499k two months ago, and yesterday I heard that the sales are having a "limited time" offering-- a reduction of 45k for the remaining one bed room units....  My friend asked me if I want to scope another one with him...... I guess the crisis is an opportunity for some and a negative event for the ones who locked in before the price adjustment...

 

who's to fault a seller for discounting the crappy units that nobody wants?  and who's to fault a buyer for getting the best units first, at full retail.  They're not selling t-shirts or jeans.  Some units are better (and worse) than others.  



#216 ovovov

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Posted 29 September 2019 - 06:13 PM

You make the best deal you can when you buy, can't have regrets over somebody getting a better deal at a later date. If the prices went up by 20% would you be willing to share your windfall with new buyers?

 

one interpretation, from any investor's perspective, is the developer needs the money NOW so they decided to harvest sooner...

 

say I brought one unit before the price adjustment, will I be willing to invest with them next time?  



#217 Mike K.

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Posted 29 September 2019 - 07:00 PM

Would the price you paid a year ago be higher than the discounted price today, or the same? Pre-sale prices tend to rise, so the latest figures may be a readjustment down after being adjusted up.

I admit I know very little about this project. It’s a high profile location but it’s sort of under the radar.

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#218 Banksy

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Posted 28 October 2019 - 11:16 AM

 

  • There will be 16 studio units, 90 one bedders, 25 two bedders, 1 three bedder with two baths, 1 three bedder with three baths.
  • Construction start date: Jan to April 2019.
  • Construction finish date: March to May 2021.
  • Outside Completion date: December 31, 2022.
  • Concrete construction, built by Farmer Construction.
  • Closed loop water source heat pump in each unit for heating and Air Conditioning.
  • Deposit structure: 10% at time of writing, 10% when development permit is issued.
  • Rentals permitted with 30 day minimum term.
  • No transient / Air bnb / short term rentals allowed.
  • Storage locker (1) and bicycle storage (1) included.
  • Fitness centre included.
  • Parking available for most suites, purchase price above stated suite price ranges TBA.
  • Electric car parking available, with terms.
  • Animals: 1 cat, 2 dogs, fish, 2 caged birds.
  • BBQ's ok if electric or propane only.
  • Assignment Clause: Permitted with granted written permission and 1.5% on purchase price paid to developer at time written permission for assignment rights are requested.
  • Exhibit 'H' in the DS contains a copy of the contract of purchase and sale.

 

That obviously didn't happen and it will be next to impossible for them to complete by the end of 2022.

 

And the Citified condo article says sales began in 2019 but they began in 2018. I was there and they had a sales centre open since then and into 2019, all of this is in this discussion thread too. Then everything went quiet. The Citified article also says completion in 2022 but I think they are going based on the information from late 2018. You would expect this to be selling like mad but hardly anyone knows it event exists after an entire year on the market  :confused:


Edited by Banksy, 28 October 2019 - 11:17 AM.


#219 Jackerbie

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Posted 28 October 2019 - 11:32 AM

^ FWIW, the BP application is listed as "Oh Hold" per VicMap



#220 Mike K.

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Posted 28 October 2019 - 11:42 AM

The launch dates are indeed a little confusing. They had their soft launch in 2018 just before Christmas (early December) and then the plan was to start formal sales in early 2019. The completion date of 2022 is what a rep confirmed, so I guess they think they can still meet that completion deadline. I don't know what the project's sold-out status is.

 

Janion's (relatively small) excavation began in May of 2014. The project received occupancy in November 2016, 29 months later.


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