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The Redfern is a proposal for a four-storey condominium building with ground floor commercial spaces along the 1900-block of Oak Bay Avenue in the City of Victoria's South Jubilee neighbourhood.
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I am aware that adding an additional bedroom incurs more costs than just "finishes". I was being a bit tongue in cheek. Even so, a starting price of well over $1 million for a 2 bedroom condo, still seems pretty expensive to me.
Capital park is like $950 on average. Recent chard product was averaging $800ish.
I think this same developer was arpund $1k on that project on beacon hill park.
Custom house MAYBE achieved that on a couple penthouses with amazing views but I’d even be surprised if that was the case.
Vancouver is a 1,500 a foot marker at the moment.
I didn’t mean standard product is heading for $2,000, I meant up-market product is. Standard product is moving fast towards $1,500 and high-end luxury is already firmly at $2,500 and headed for $3,000. In 2019 a Vic West penthouse hit the re-sale market at $2,500: https://victoria.citified.ca/news/21st-floor-vic-west-penthouse-listed-for-10-9-million-could-set-condo-price-record/
Customs House has sold penthouse units at $2,400, and that was over two years ago. Its remaining inventory is in the $1,700 range, while the last penthouse is priced at $2,600.
I didn’t mean standard product is heading for $2,000, I meant up-market product is. Standard product is moving fast towards $1,500 and high-end luxury is already firmly at $2,500 and headed for $3,000. In 2019 a Vic West penthouse hit the re-sale market at $2,500: https://victoria.citified.ca/news/21st-floor-vic-west-penthouse-listed-for-10-9-million-could-set-condo-price-record/
Man, I'd like to move back to Victoria (well, the CRD) but that is pretty out of reach. My fairly high-end new build townhouse, in a nice neighborhood, right in town (not the suburbs) was $360/ square foot. With a detached garage, a full basement, and a good sized court-yard style back yard between the house and the garage. Edmonton has its perks, but it snowed yesterday hahaha
Updated website with floorplans, features and finishes:
https://theredfern.ca/floorplans/
Oak Bay Avenue's Garden Works retail strip eyed for redevelopment into condos and modern storefronts
A mixed-use condominium and retail building has been envisioned for the Oak Bay Avenue strip east of the Victoria/Oak Bay border.
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