Common law of contract review for B.C. real estate.

Can COVID19 excuse you from your obligations? Generally, no. I’ve been involved with 2 transactions lately where I’m representing the Purchaser, and the Purchaser is enquiring if they can back out of the existing deal prior to closing; citing concerns about COVID19 and the state of the world. In periods of flux, whether economic, political […]
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Condominium Tour – Harris Green, downtown Victoria

Harris Green offers active urban downtown living, with many new residential and commercial developments in the pipeline. This will be one of the highest growth neighbourhoods in victoria for both rental and strata ownership living. The neighbourhoods walk/bike score of 99 mean it’s centralized location is perfect for the modern city dweller. The new Save […]
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20 acre Industrial Business Park coming to Colwood

The City of Colwood adopted a new Official Community Plan (OCP) in 2018, which created Mixed-Use Employment, a new land use designation in several areas of Colwood, the largest of which are the Allandale Lands. The site is roughly the same size as the newly completed Belmont Market in Langford. This is an essential development […]
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April 2020 Real Estate Update

Victoria real estate spring market will be impacted by COVID-19A total of 608 properties sold in the Victoria Real Estate Board region this March, five per cent fewer than the 640 properties sold in March 2019 but eight per cent more than the previous month of February 2020. Sales of condominiums were down 9.2 per cent […]
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102 residential units approved for Shelbourne @ Stockton

Tri-eagle Developments, an experienced local builder of residential and commercial properties has recently received third and final reading for its next project. The site – 4 lot assembly Civic Address: 3914 Shelbourne St, 1540/1546/1550 Stockton Cres.Site area: 4,247 square metres or ~45,714 sqftExisting use: Office building (DFH Real Estate) and 3 single family detached The […]
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76 rental units approved at former gas station site.

NVision Properties, a division of Abstract properties, has received second and third reading for their re-developement of former Shell gas station at the SE corner of Shelbourne St & Mckenzie Ave. The rezone from C-8 (service station) to C-2BW (Commercial-Apartment) was granted on March 9, 2020 from Saanich City Council. This C-2BW zone is the […]
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Declare your speculation & vacancy tax exemption by March 31, 2020

This tax is an annual tax that applies based on: How property owners use their residential property The property owner’s residency status Where property owners earn and report their income For 2019 and subsequent years, the tax rate is: 2% for foreign owners and satellite families 0.5% for Canadian citizens or permanent residents of Canada […]
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Prime rate drops 50bps to 3.45%, as Central Bank drops overnight rate to 1.25%

The Bank of Canada has slashed its key lending rate by 50 basis points from 1.75% fo 1.25% amid economic pressures brought on by the COVID-19 virus outbreak. While Canada’s economy has been operating close to potential with inflation on target, the COVID-19 virus is a material negative shock to the Canadian and global outlooks, […]
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Fernwood first tower will be Chard’s 10th development

Chard Development’s continues its track record of completing high quality residential towers in Victoria’s with its new project at 1309 and 1315 Cook Street, 1100-1120 Yates Street, and 1109-1115 Johnson Street. The project will bring a total of 217 new residential units, of which 104 will be in BC Housing Affordable Home Ownership program. On […]
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