General Vancouver Updates

[Pinion]

I find it incredible that there are no witnesses. Not exactly the middle of nowhere.

[djh]

Originally Posted by vanciti

Exactly...as long as the owner maintains the property, pays his taxes and there is no public safety issue the city can't do anything to an existing building. The city has a little more pressure if there is a Development Permit pending as those have life spans and cost more money to extend or re-apply.

The building in itself if it were to be knocked down would never be approved for similar height to what it has currently, the White Spot site across the street is a prime example.

The owner of the building also owns Firefly liquor stores, both at Cambie and in Maple Ridge, his taxes are all covered by the monies that he is making on those.

I thought the project had a Development Permit issued on it already, and I wondered if they have a time limit as to how long a working Development Permit is valid. Hence I thought the city might have some valid ability to tell the developers to "hurry up" and get the work completed before the permit expired.
Is that not the case?

[officedweller]

Summary of next week's DP applications from VancouverMarket.ca:

http://www.vancouvermarket.ca/2015/01/28/market-update-vancouver-rezoning-applications/

[officedweller]

Story on Marine Gardens:

http://www.vancourier.com/news/developin...g-proposal-goes-before-council-1.1745407

[WarrenC12]

582 Units at Marine Gardens. Holy macaroni.

Is MC2 sold out?

[vanciti]

Originally Posted by djh

I thought the project had a Development Permit issued on it already, and I wondered if they have a time limit as to how long a working Development Permit is valid. Hence I thought the city might have some valid ability to tell the developers to "hurry up" and get the work completed before the permit expired.
Is that not the case?

you can extend a Development Permit...costs you money...but you can extend and extend.

[vanciti]

Originally Posted by WarrenC12

582 Units at Marine Gardens. Holy macaroni.

Is MC2 sold out?

Yes, essentially. The Developer has held back a few units, but in essence it is sold out.

North West about 75% sold out from a November Launch...The avg for Northwest is around $725 psf...Marine Gateway and MC2 were $630 and $640 psf.

[wrenegade]

Holy crap $725 psf at North West? Wow.

[vancouver604]

Originally Posted by wrenegade

Holy crap $725 psf at North West? Wow.

I wonder if Kim and Kanye purchased there

[WarrenC12]

Rennie is a magic man. Here I am buying at OV for under $600...

[phesto]

^I wouldn't really attribute it to Rennie. There are concrete lowrise projects along Cambie near 33rd and 41st averaging over $800 per SF, hell even Mosaic is sold out at Cambria (50th and Cambie) at $670 per SF, and that's woodframe!!

I think it's just a segment of the buyer market preferring "Westside" as opposed to OV or downtown, and the spec is obviously good too. Although Rennie probably helped with his usual hype program at the start.

[Genauso]

I did a runaround today, and while I snapped a good group of less tracked buildings there was one I meant to capture but just missed stopping at entirely.

The missing one is West 10th & Maple by Pinnacle, in the remainder of that big Safeway and BC Liquor store formerly at Broadway & Arbutus. Excavation has begun, about 1 story deep.

The Ridge by Cressey



Boulevard Residences by Redekop at Arbutus & W37th
Demolition finished, excavation is maybe 1 story deep


Kerrisdale Gardens by Altus at West Blvd (Arbutus) & W40th



Ellis by Pantheon at East Blvd (Arbutus) & W44th


One Kerrisale Plaza at W41st & Yew St


A block of lowrise apartments between W47th and W48th on West Blvd were featured with all the co-op residents having been bought out by a single developer in the Vancouver Sun some time last fall.There were signs advertising the developer's name, but no project advertising yet.

Pictures by me. Thanks to buzzbuzzhome.com for placing all the weird names I'd never remember if they weren't in the photos.

[BodomReaper]

Thanks for the update, nice to keep tabs on infill projects in parts of the city I never pass through. Kerrisdale Gardens looks a little dated given it's supposed to be premium west-side product. Also, it looks like you accidentally duplicated the previous photo instead of posting a pic of Ellis - I'm particularly curious since the renderings of Ellis are gorgeous


Source: Vancouver4Life

[Genauso]

Originally Posted by BodomReaper

Kerrisdale Gardens looks a little dated given it's supposed to be premium west-side product.

That one is wood frame above the commercial first floor. I'll reserve judgment, but I think any condo advertising ought to include a metric of noise insulation.

Originally Posted by BodomReaper

Also, it looks like you accidentally duplicated the previous photo instead of posting a pic of Ellis - I'm particularly curious since the renderings of Ellis are gorgeous :

Thanks, I have fixed it in place with an edit. Ellis seems to be a project where it's small enough that every detail has been thought out because it is going up quickly and smoothly.

[officedweller]

Originally Posted by Prometheus

Here is the latest version of the project on the southeast corner of 12th & Cambie, as reported by changingcitybook.com:


http://changingcitybook.com/2013/09/12/2806-cambie-street/

Slightly revised as again reported by Changing City Updates - and it still looks good.
There's only one 4-storey skewed upper section, rather than two 2-storey ones.
Not sure about the stuff on the roof, but no one will see that (?)
- and it now has a name "Spot" (although the loft project on Seymour has the name "The Spot").


http://changingcitybook.com/2015/01/29/spot-2800-cambie-street/

[osirisboy]

Wow how many revisions has this thing gone through? Are they ever going to actually get this to the point of selling lol.

[vanman]

I'm liking this latest revision. The black and white look much better together than the previous jumble of random colours. The only thing I don't like is the grey spandex as I think it clashes with the black mullions but ah well.

[vanman]

Dp

[vanciti]

Originally Posted by wrenegade

Holy crap $725 psf at North West? Wow.

I fell off my chair when I got that news. They have some units going for almost $1,200 psf. Its mind boggling.

It shows the other two left some cash on the table in order to get their quick sellouts though. It'll be interesting to see when Marine Gardens eventually comes out next to MC2 where it lies.

The entire pricing metric on the Cambie Corridor does not make a heck of a lot of sense to me. $670 for wood frame, $800 for concrete. I'm sorry but I can think of at least 2 or 3 other areas I'd far rather live and not have my building average out at those rates.

[Vin]

Originally Posted by vanciti

I fell off my chair when I got that news. They have some units going for almost $1,200 psf. Its mind boggling.

It shows the other two left some cash on the table in order to get their quick sellouts though. It'll be interesting to see when Marine Gardens eventually comes out next to MC2 where it lies.

The entire pricing metric on the Cambie Corridor does not make a heck of a lot of sense to me. $670 for wood frame, $800 for concrete. I'm sorry but I can think of at least 2 or 3 other areas I'd far rather live and not have my building average out at those rates.

Put in major retail near a major transportation system, and the condos sell like hotcakes. That's the norm these days.