ABOUT US

the railyards development inc.

faq's

Some frequently asked questions and answers that we believe are important to read.

The RailYards lands were purchased in 2001 by Chris Le Fevre and his vision “then” and “today” was to build a master planned waterfront community that would be affordable to a broad base of the purchasing public. He insisted that there would be no million plus dollar homes to be built for the rich and famous.

The vision was to place lower rise buildings closer to the water and higher buildings along Tyee Road. Maximum natural light in all units and maximizing the views for all purchasers progressively, the vision is being fulfilled and Chris Le Fevre remains the man behind the vision.

How long might the build-out of the entire development take?

With Bond's Landing at 787 Tyee underway we are over half way finished construction. 2009 will see the remaining vacant townhouse development under way and thereafter there will be three more apartment buildings along Tyee Road. We envisage one development per year.

What steps are being taken to reduce construction congestion?

The main construction access for all future developments will be from access points along Tyee Road, thus leaving the present Regatta Landing and Central Spur Road free of any significant future construction activity and construction vehicles.

Is the Railyards site true waterfront?

Yes! This is why we built the Pier and Ferry landing and it was ourselves as developers that granted a right of way to the City of Victoria for the 110 kilometres of Galloping Goose Trail to run through the development.

How has capital appreciation in property values performed in built units at the Railyards?

Historical performance of value capital appreciation exceeds any other comparable development in the Greater Victoria residential precinct.

Examples

Bachelor units in 90 Regatta have in some instances increased by 110% over approximately a 3.5 year period.
One bedroom apartment units in 90 Regatta Landing have in some instances increased by 88 % over approximately a 4 year period.
Townhomes in Phase I have in some instances increased by 74 % over approximately a 3 year period.
Townhouses in Phase II have increased by 45 % over approximately a 4 year period..

Why has the capital value appreciation been so significant?

Market forces of course are the overall determinant but the market has obviously come to recognize the unique waterfront location and the progression of this most creative development. Waterfront properties anywhere in the world show super capital appreciation over non-waterfront.

Soundproofing features in all units: Are there measures beyond the normal that reflect the presence of industrial uses in the general area?

Yes, our Master Development Agreement with the City of Victoria obligates ourselves as developer to retain the services of an acoustical engineer and create exterior glazing systems that exceed all commonly accepted levels for noise penetration in a building.

What kind of home warranty does a unit in Bond's Landing come with and have any previous warranty providers been compelled to make repairs to a building or unit in the development to date?

Our warranty provider, Travelers Guarantee Company of Canada, provides the following:

2 - Year Materials & Labour Warranty
5 - Year Building Envelope Warranty
10 - Year Structural Defects Warranty

*No warranty provider has been caused to make repairs to any previously constructed building in the Railyards.

What amenities as developer have you or will you contribute during the development of the Railyards?

The entire 2132 foot length of our waterfront is being built at our cost and the land is gifted as a right-of-way forever and constitutes the Galloping Goose Trail through the development
The Ferry Pier and Lookout Pavilion were built by the RailYards and again gifted to the community forever.
The free-standing public washroom at Regatta Point Park was conceived, built and gifted to the community.
Parks at Mile Zero of the 18,000 kilometer Trans-Canada Trail, Regatta Point Park and Bridges Park and Tot Lot are all either built or in the process of being built by the developer.

We are unaware of any comparable City of Victoria development that provides such a generous amenity package to its residents or surrounding community.

Can we rent out our unit if we buy one?

An outright yes and the Rental Disclosure Statement states that rentals are permitted for an indefinite period. Please ask for a copy of the Disclosure Statement, which fully outlines this bylaw.

Can we have pets?

Yes: the standard bylaws in the Disclosure Statement allow for pets. Please ask for a copy of the Disclosure statement, which fully outlines this bylaw.

What environmental considerations as developer have you made in building the Railyards?

Firstly we make no promise about untried and potentially very expensive self-generating energy sources or on-site sewage disposal that cannot be solely warranted by ourselves as developer.

As “Partners in Your Future”, we are committed to building the RailYards with pride and responsibility.
Drain waters are handled in remediating bioswales that eliminates torrents of water being charged into storm drains.
Existing Galloping Goose Trail vegetation is left to sustain the foreshore in a naturally vegetated state.
Having built a pier that intruded into the foreshore we were obliged to create an offset compensation zone down by the Bay Bridge totally supervised by qualified environmental consultants.
Building exteriors are durable and limited in the use of renewable resources.
Appliances are rated by “Energy Guide” based on standard US Government tests for low energy consumption.

How close is shopping, public transportation and downtown Victoria?

1. 20 minutes walking to downtown Victoria

2. 4 minutes on a bike to downtown Victoria

3. 5 minutes walking to Starbucks

4. 5 minutes walking to a full scale grocery store

5. 5 minutes walking to a comprehensive liquor store

6. 5 minutes walking to fitness centre, doctor, dentist & physiotherapist

What are the Strata Fees and how were they determined?

Proline Property Management is the designated Strata Manager for the RailYards. Using information from the operating listings of the existing buildings, they estimate strata fees to be 20 cents per sq. ft. per year. Please ask for a Disclosure Statement which has specific information on the budgets and strata fees for the Gateway.

We hope these questions and answers are helpful. We stand prepared to answer any further questions you might have.

We would welcome the opportunity to have you live in the RailYards but in any event thank you for considering and viewing our development.

Chris Le Fevre
President
The Railyards Development and
The Le Fevre Group of Companies