Cambridge House Micro Homes

[Atomoa]

http://www.cbc.ca/news/canada/british-c ... -1.3769511

Speculation and foreign money have turned our princes main city into a unaffordable joke. Chinese students apperently own 57 million dollars worth of high end Vancouver real estate! Of course the BC government wasn't about to stop the gravy train. 2 billion dollars in the coffers and surprise surprise - 500 million going to AFFORDABLE HOUSING.

BC government allows a affordable housing problem to occur, refuses to acknowledge it and calls people racists for suggesting it. After they have created the problem and profited massively from it, they are going to apperently fix it by handing real estate developers gobs of taxdollars via "tax breaks and incentives to build affordable housing" and soon enough we'll see that 500 million worth of our tax dollars converted into more 300 square foot profit vectors for investors.

[Even Steven]

Place sold very well. Apparently 170 of 190 units were sold by the end of the day.

I unfortunately didn't buy one as all lower priced units were gone. What was left just wasn't a good investment.

[forum]

I am considering one of the higher priced units. Any left? Nothing else like it in Kelowna.

[Lady tehMa]

I am considering one of the higher priced units. Any left? Nothing else like it in Kelowna.

There's a new build going in on the corner of 33 and I think Dundas? They took out 2 crack houses to build something called "The Varsity" which is supposed to be student housing. It's central to a lot of stuff, on a bus route. I haven't seen anything online about it though, just the sign as I pass by - they have the foundation in now.

Also, you can check out the Academy Way developments out in the University District. I understand they range from 1 bedroom to 3 - investors have been buying them and renting them by the room. Think those ones are called U One and U Two.

The Sole Development on St. Paul was the first building with micro-homes, not sure where they're at for sales now.

[W105]

gotta feeling Forum was being facetious Lady :)

saw these suites(sardine cans) on the news the other night...doesn't look like any "high end" furnishings to me (plastic bookcase and coffee table)..

what I couldn't understand was why they wasted so much space to put in a full sized dishwasher ?? it's not like a person can host a dinner party in that tiny space..

and they said it was $30k extra for one parking space...wow

[kgcayenne]

Over the course of a 25/yr mortgage, $30,000 is $100/mo for parking. I think that's about the going rate when downtown parking rates are:

Monthly Permits - $77 per month
Reserved Parking - $116 per month

[sarcasm on] No suggestions to cycle and then rent your spot for $150/mo? [/sarcasm off]

[Hassel99]

AirPark.

Rent out your spot for $15 a day ! 20 working days x $15 = $300

Not bad for a $100 stall!

[jamapple1]

For those that want to purchase as a rental income.....ask the following and beware....
The builder will tell you what they want so they can sell the units but....
CAN you rent them? Will there a max # of rentals?
This is/will be a Strata. The builder will be responsible now BUT once it is built it is turned over to the owners and it will be up to them to form a strata with rules and bylaws Even if a Mgt company oversees the building there still must be a Strata Council. Many complexes limit rentals.
Your strata fees look great now but do they allow for Contingency funds? savings for future repairs so you do not have to pay a levy.
If you have never lived in a Strata, please do some research. There is more to a strata than paying a monthly strata fee.
Stratas can be great, they can also be a nightmare....understand before you buy into one.

[forum]

Do not invest in Cambridge, are you crazy. An American friend came up for a visit last week. I showed him Cambridge floorplans and prices.
He rolled his eyes and said, "You Canadians sure pay a lot for such a low standard of livin"
His comment kinda peeved me, but he was right.

[Always Sunny]

In my own housing search I’ve come across a lot of units for sale and for rent at Cambridge House. Now I know rental prices are pretty ridiculous for a place like Kelowna, but damn.

I’m looking at a studio unit (313 sq ft) with no balcony, but hey, you can enjoy that peaceful AstroTurf facing the highway. A nice bulky air conditioning unit to take up half your space. A wall bed and what genuinely looks to be some quality Ikea furniture, all for the low low price of $1450 + utilities (or $1550 including utilities). Get out of here, you can find studios walking distance from Stanley Park for that price.

[aaronmak9092]

$1200 for a new build in that location is a steal even if it is a micro home. I can’t argue with that number in the current market

[dudemeiser]

Graham Adder wrote:
I think you'll find that these units are to be sold with stipulations denying rentals.
I.

Wrong. I know of folks who purchased with the express intent to rent out, and have already reached out to potential renters.

[forum]

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