Comfort Inn 3020 Blanshard sold to province

Cornell Developments Ltd has sold the land, building, and business at 3020 Blanshard Street to the Province of British Columbia. Comfort Inn & Suites – The Property Lot size: 120,721 sqft (irregular)Net building area: 8,584 sqft (151 hotel rooms)Year built: 1987Storeys: 5Zoning: C-1 Limited commercial districtOCP: General Employment2019 Assessment: $14,175,000 Purchase Price: $18,500,000 Conveniently located […]
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April Residential Real Estate Update – VREB

Victoria Spring market far from the usual as real estate continues to react to pandemic Month Apr Apr Year 2020 2019 Net Unconditional Sales: 287 696 New Listings: 667 1,392 Active Listings: 2,305 2,751 May 1, 2020: A total of 287 properties sold in the Victoria Real Estate Board region this April, 58.8 per cent fewer …

251 unit condominium project proposed along Glanford Ave near Royal Oak

Mike Geric Construction on behalf of the land owner Diego Trozzo has submmited a rezoning application to the District of Saanich for 750 Enterprise Crescent & 4291 Glanford Avenue. The proposal includes plans for over 250 condominiums and commercial space across 3 buildings rising up to 10-storeys. The subject property 4291 Glanford AvenueSite size: 19,848 […]
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Section 19(8) of the Assessment Act prevents new housing supply

It is undisputed that British Columbia is in a housing crisis. Prices are at all time highs, and vacancy rates hover around 0% in urban centres. To solve our crisis, we need to focus on the supply side of the equation. Yet, BC Assessment and the Province encourage landowners to limit the supply of housing […]
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Affordable seniors project JV with BC Housing

A rezoning application for a 97 unit, four-storey affordable seniors care complex has been given unanimous and positive approval to proceed to public hearing (third reading). 3200 Linwood Avenue, Saanich The fee simple lands are owned by The Baptist Housing Society. They were purchased in 2014 from the Linwood Foundation, a registered charity, for $1,400,000. […]
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James Bay real estate slows amid pandemic

There is no clear evidence yet that market pricing is moving lower. Will sustained low sales volume lead to downward pricing pressure? Or, will critically low inventory and interest rates help sustain prices? The longer economic weakness lingers the greater chance that households are forced to list their properties; such an outcome would put downward […]
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