Olympic Village & Southeast False Creek Updates Discussion - Page 289

rsxstock · #**5761** Posted **Jan 1, 2016, 3:23 AM**

Quote:

Originally Posted by Vamo

Yes I agree. And personally I don't find it boring. I am glad I did my purchase a few blocks away (+/- 8 min walk) at Canvas in 2014: assessments for my one bedroom floor plan is up $80,000 already. Crazy!

it's probably just an error. my initial assessment was 25% more than purchase price and they fixed it in a few months

Vamo · #**5762** Posted **Jan 1, 2016, 3:30 AM**

Quote:

Originally Posted by rsxstock

it's probably just an error. my initial assessment was 25% more than purchase price and they fixed it in a few months

I am surprised, they told me that a month ago (bought $315k, assesments going for $400k for one bedrooms). Bummer...

EDIT: my bad, I was actually talking about assIGNment of the contract, not a BC assesment. Oops.

connect2source · #**5763** Posted **Jan 1, 2016, 6:11 PM**

Quote:

Originally Posted by rsxstock

it's probably just an error. my initial assessment was 25% more than purchase price and they fixed it in a few months

Assessments are way behind market value. BC Assessment data is a year old and condos in the area are up 10%-15% over the last 12 - 18 months. I do a fair bit of business in that area and there have been countless suites going into multiple offers and selling $10K - $40K over asking. Those suites are now the 'new comparables' and set the new market value.

Homeowner · #**5764** Posted **Jan 3, 2016, 1:25 AM**

Quote:

Originally Posted by connect2source

Boring but in demand!

I have several clients looking to buy in OV, at present there is not a single one bedroom listing available in the entire neighbourhood! The two or three that appear on MLS are spoken for.

...and crazy-expensive!!..a one bed suite in James on the seventh floor recently sold for $1000/ sq foot and one in Wall Centre was just a little cheaper. Prices are crazy and the small suites are now selling for roughly what those in Coal Harbour go for!

1 bedroom units more expensive than downtown ? Never thought it would be possible.

s211 · #**5765** Posted **Jan 3, 2016, 5:34 PM**

Quote:

Originally Posted by Homeowner

1 bedroom units more expensive than downtown ? Never thought it would be possible.

A few people I know that presently live downtown feel that the bloom is coming off the downtown rose, and they have plans to move off the peninsula.

WarrenC12 · #**5766** Posted **Jan 3, 2016, 6:34 PM**

Quote:

Originally Posted by s211

A few people I know that presently live downtown feel that the bloom is coming off the downtown rose, and they have plans to move off the peninsula.

Well, age might have a lot to do with it. There was a boom around the late-90s-2000, and those units are 15+ years old now.

marlou_aquino · #**5767** Posted **Jan 4, 2016, 11:33 AM**

Quote:

Originally Posted by nds88

Why is the sidewalk in front of The One (1st ave) not completed before residents move in as well? It's really uneven to walk on. And the sidewalk in front of their previous development, Pinnacle Living, also has a seriously lame sidewalk of black top and gravel...and this development was completed over 2 years ago. When will the final touches for these type of things be completed?

Does anybody have any info regarding this? Are they going to fix the island infront of The One also?

sacrifice333 · #**5768** Posted **Jan 4, 2016, 6:02 PM**

Quote:

Originally Posted by marlou_aquino

Does anybody have any info regarding this? Are they going to fix the island infront of The One also?

Seems when it comes to sidewalks, Pinnacle does the bare minimum required. Look at the sidewalks around the building at Manitoba & 2nd!

csbvan · #**5769** Posted **Jan 4, 2016, 6:17 PM**

Quote:

Originally Posted by sacrifice333

Seems when it comes to sidewalks, Pinnacle does the bare minimum required. Look at the sidewalks around the building at Manitoba & 2nd!

There is no way that is the minimum required even! They look like temporary construction sidewalks.

wrenegade · #**5770** Posted **Jan 4, 2016, 6:22 PM**

Quote:

Originally Posted by connect2source

Boring but in demand!

I have several clients looking to buy in OV, at present there is not a single one bedroom listing available in the entire neighbourhood! The two or three that appear on MLS are spoken for.

...and crazy-expensive!!..a one bed suite in James on the seventh floor recently sold for $1000/ sq foot and one in Wall Centre was just a little cheaper. Prices are crazy and the small suites are now selling for roughly what those in Coal Harbour go for!

This bodes well for me. I own a 1B unit in the James with a downtown view. I'm moving in May/June and am currently debating whether to sell or rent it out. $1000 PSF makes a strong argument to sell though!

Coldrsx · #**5771** Posted **Jan 4, 2016, 7:32 PM**

Quote:

Originally Posted by s211

A few people I know that presently live downtown feel that the bloom is coming off the downtown rose, and they have plans to move off the peninsula.

Sure, but keep in mind that is partially because there are FAR more attractive options around the LM now and only really in the last 10 years or so.

s211 · #**5772** Posted **Jan 5, 2016, 12:28 AM**

Quote:

Originally Posted by Coldrsx

Sure, but keep in mind that is partially because there are FAR more attractive options around the LM now and only really in the last 10 years or so.

The reasoning I've been given by more than one couple is that parts of downtown have become too d-baggy.

Klazu · #**5773** Posted **Jan 5, 2016, 5:09 PM**

Olympic Village from above.

Video Link

nefc · #**5774** Posted **Jan 15, 2016, 4:24 PM**

Excavation is well underway at the Concert site beside Olympic Village. That's going to be a big hole.

WarrenC12 · #**5775** Posted **Jan 15, 2016, 4:29 PM**

Quote:

Originally Posted by nefc

Excavation is well underway at the Concert site beside Olympic Village. That's going to be a big hole.

I noticed the size as well. Given that only 2 buildings have been approved, it seems like they are digging for more.

I'm guessing they can dig around as much as they like, but if they want to build an integrated underground parking, they would need the relevant approvals, right?

sacrifice333 · #**5776** Posted **Jan 15, 2016, 5:12 PM**

Quote:

Originally Posted by WarrenC12

I noticed the size as well. Given that only 2 buildings have been approved, it seems like they are digging for more.

I'm guessing they can dig around as much as they like, but if they want to build an integrated underground parking, they would need the relevant approvals, right?

They're maybe also just planning to remove all/most of the asphalt at once...

nefc · #**5777** Posted **Jan 15, 2016, 5:14 PM**

I believe construction of the parking levels for all 5 buildings was included as part of the approval of the initial buildings.

doorguy · #**5778** Posted **Jan 15, 2016, 7:23 PM**

They are digging the parkades for phases one and two. The first phase is scheduled
for completion Aug/2018 and phase two Aug/2019

WarrenC12 · #**5779** Posted **Jan 15, 2016, 9:20 PM**

Quote:

Originally Posted by doorguy

They are digging the parkades for phases one and two. The first phase is scheduled
for completion Aug/2018 and phase two Aug/2019

Thanks for the info. Is the whole site 3 phases or 4?

sacrifice333 · #**5780** Posted **Jan 15, 2016, 10:10 PM**

The old presentation centre in The Village (proper), next to the TD Bank, is once again listed for lease.

The lease document that surfaced late in the summer showed that Kuma Bistro had leased the space. My fingers were crossed that it was the same owner, Mitsumi Kawai, as Kuma in Tofino.

Previous to that there was rumour of a sushi joint having signed the lease and some work started, though never finished.

There's also been no additional work in the former Bone & Bowl location that has reportedly been leased to Bella Gelateria.