Record High Activity in August

A total of 979 properties sold in the Victoria Real Estate Board region this August, 48.1 per cent more than the 661 properties sold in August 2019 and exactly the same total as the previous month of July 2020. Sales of condominiums were up 29.1 per cent from August 2019 with 262 units sold. Sales […]
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Northern Junk project by Reliance gets rejected by council yet again

A plan to redevelop the long-vacant Northern Junk buildings near the Johnson Street Bridge has been sent back to the drawing board — again. Reliance president Jon Stovell, who has been trying to develop the site for 10 years, expressed surprise and frustration at yet another rejection. “It’s just unbearable,” he said. “I just don’t […]
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Northern Junk project by Reliance gets rejected by council yet again

A plan to redevelop the long-vacant Northern Junk buildings near the Johnson Street Bridge has been sent back to the drawing board — again. Reliance president Jon Stovell, who has been trying to develop the site for 10 years, expressed surprise and frustration at yet another rejection. “It’s just unbearable,” he said. “I just don’t […]
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Abstract gets approval for 49 units at Cook & Hillside

Victoria City Council has approved a rezoning and development permit application to develop a new six-storey, multi-unit residential building with ground floor live-work units.  FOR (7): Mayor Helps, Councillor Alto, Councillor Dubow, Councillor Loveday, Councillor Potts, Councillor Thornton-Joe, and Councillor Young OPPOSED (1): Councillor Isitt The strata ownership units will be a mix of studios, one-bedroom, […]
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Abstract gets approval for 49 units at Cook & Hillside

Victoria City Council has approved a rezoning and development permit application to develop a new six-storey, multi-unit residential building with ground floor live-work units.  FOR (7): Mayor Helps, Councillor Alto, Councillor Dubow, Councillor Loveday, Councillor Potts, Councillor Thornton-Joe, and Councillor Young OPPOSED (1): Councillor Isitt The strata ownership units will be a mix of studios, one-bedroom, […]
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CMHC Qualification Metrics change effective July 1, 2020

The modifications have to do with debt service ratios and credit score requirements • Gross debt service (GDS) ratios must be under 35, down from 39 • Total debt service (TDS) ratios must be under 42, down from 44 • Borrower’s credit score must be at least 680, up from 620 • Borrowed down payments […]
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CMHC Qualification Metrics change effective July 1, 2020

The modifications have to do with debt service ratios and credit score requirements • Gross debt service (GDS) ratios must be under 35, down from 39 • Total debt service (TDS) ratios must be under 42, down from 44 • Borrower’s credit score must be at least 680, up from 620 • Borrowed down payments […]
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Pauls Motor Inn purchased by province for $15M – to house homeless

The province of B.C. has bought the 75-room Paul’s Motor Inn on Douglas Street for approximately $15 million to add to its stock of temporary supportive housing for people without homes in Victoria. 1900 Douglas Street – The Site Zoning M2-A, Special Light Industrial District Community Plan(s) Core Employment, Neighbourhood Plan: Burnside, DPA: Rock Bay, not in […]
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Pauls Motor Inn purchased by province for $15M – to house homeless

The province of B.C. has bought the 75-room Paul’s Motor Inn on Douglas Street for approximately $15 million to add to its stock of temporary supportive housing for people without homes in Victoria. 1900 Douglas Street – The Site Zoning M2-A, Special Light Industrial District Community Plan(s) Core Employment, Neighbourhood Plan: Burnside, DPA: Rock Bay, not in […]
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23 storey Hudson Place II residential approved by council

Townline Homes has been issued a development permit for its final phase at the Hudson District in downtown Victoria. Hudson Place Two The final phase of the Hudson District, a mixed-use commercial and residential tower offering 15,000 sf of retail space along Herald, Blanshard and Fisgard Street The residential portion of the building will contain […]
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