[Halifax] The Roy (1650 Granville) | 71 M | 22 FL | Completed

[OldDartmouthMark]

Originally Posted by Keith P.

I wonder if the Vogue Optical sign on the rear of that building will be covered for 100 years or so?

More like 50.

[portapetey]

After which it will be uncovered and painted over with the words "Roy Building", sparking a controversy that lasts months and involves calls for the resignation of numerous city councillors.

[OldDartmouthMark]

Originally Posted by portapetey

After which it will be uncovered and painted over with the words "Roy Building", sparking a controversy that lasts months and involves calls for the resignation of numerous city councillors.

It'll gain headlines for a week then everybody will forget about it and will be never spoken of again.

Actually, by that time people's attention span will likely have degraded to the point where it will gain headlines for an hour...

[counterfactual]

Originally Posted by portapetey

After which it will be uncovered and painted over with the words "Roy Building", sparking a controversy that lasts months and involves calls for the resignation of numerous city councillors.

[Jonovision]

The second crane was completed today.

[Jonovision]

A few more. The boom on the new crane has Christmas lights on it!

[curnhalio]

Originally Posted by Jonovision

A few more. The boom on the new crane has Christmas lights on it!

I've noticed this on a few cranes around town. I can't remember seeing this in previous years, but then there are far more cranes up than have been in previous Decembers, too.

[musicman]

The crane at king's wharf had lights on it last year, however that is the only one i can think of..

[kph06]

The crane at the Maple was occasionally lit. The HSC crane has lights this year.

[Hali87]

Reposted from the Canada section:


Source

[OldDartmouthMark]

Wow! Interesting perspective.

Man, that Nova Centre is really a monster in profile.

[someone123]

It shows just how much development has been happening around around this block. There will be a lot more people living and working near Barrington Street in a couple of years. That should increase demand for retail space.

[someone123]

Not sure if this rendering has been posted yet:


Source

[OliverD]

That looks great. It looks like it will fit it in nicely at the street level with that podium's facade.

[eastcoastal]

Anyone hear how sales are going for this?

I've heard both "really well" and "not one sold."

[Drybrain]

Originally Posted by eastcoastal

Anyone hear how sales are going for this?

I've heard both "really well" and "not one sold."

This Herald story in October indicated that 22% of units were sold, mostly the smaller ones.

I don't know if that's good or bad at this point--I imagine that since the thing won't be finished for more than a year, they have plenty of time to sell the rest.

It's interesting that it's been the smaller, less expensive units that have gone so far. Usually in discussion about condo construction in Halifax, s I hear people assume that there isn't enough money or enough well-to-do people in Halifax to justify such high-end construction. That'd definitely not true--there are more than enough people to float some high-end projects. The question is whether they want high-rise condos rather than McMansions.

[someone123]

Originally Posted by Drybrain

I don't know if that's good or bad at this point--I imagine that since the thing won't be finished for more than a year, they have plenty of time to sell the rest.

There are lots of stories here about condo towers selling out in 5 minutes, but usually those are speculative buyers who sign up for a many units at once during a pre-sales event. Halifax doesn't seem to have as many speculators, and that's probably healthier for housing affordability.

In a city like Halifax where prices aren't shooting up rapidly and there is a large supply of new buildings, it doesn't make much sense to put down a deposit on an unbuilt unit unless maybe you want something particular to be constructed or you are sold on one specific location. The risk of buying a completed unit is lower. It is even better to buy a unit a few years after the building has been running without major issues. In the absence of pressure I'm guessing this is what many Halifax-area buyers tend toward.

Originally Posted by eastcoastal

I've heard both "really well" and "not one sold."

In my experience there's a certain crowd in Halifax that delights in news about condos not selling and developers failing. I usually ignore these sorts of rumours. Most of the developers building highrises in Halifax have been in business for years and have done many successful projects.

[scryer]

Just to add into the condo-speak, Halifax is a very different market from Toronto, Vancouver, and even Calgary. And that's mostly because those markets make most of their money from international buyers.

I would think that it would be very unlikely that a condo complex in Halifax would sell out just as fast as a condo complex in Vancouver, in its pre-construction phase. But that's just speculation on my part. The Roy looks amazing for its height and I really hope that it puts more boots on the street, which will foster more downtown dense developments.

[Innsertnamehere]

very little of the Toronto market is international. Estimates generally place it around 5%.. There is a lot of investment purchasing, but it is mostly done by Canadians.

That said, smaller markets typically can't absorb a large condo unit quickly. Toronto builds 20,000 condo units annually, so a 300 unit tower can sell out really easily. Not so in Halifax which probably sees a much smaller amount of annual construction.

[Colin May]

Using PVSC data for January 1 - Dec 31 2015 and looking at all condo sales in Halifax in the $500K- $1.5 million bracket the results are :

26 units in 26 seperate sales and 1 sale of 4 units in the 4 unit building at 5584 - 5484 Clyde Street.
The most expensive unit was at Doyle Street for $1.325 million
(Not all sales for December are posted as DTT may not be paid until 10 days after the closing.)

Using the same criteria in Dartmouth only 1 condo sold, a unit at King's Wharf at $565,000; in Bedford 7 units sold.