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Escher vs. Legato vs. other


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#1 hi_lambo

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Posted 03 November 2015 - 03:00 PM

Hi Marko and other readers,

If you had a decision whether to buy a 3rd floor (south facing) 1BR condo in the Escher vs. 10-12th floor (east facing) 1BR condo in the Legato, which would you lean on and why? Some factors to include:

- Similar floor plans 
- Location of the Escher is quieter in my mind

- Strata of Legato is 10 cents cheaper per sq ft. 
- Gym in the Legato

- Different colour palettes with the Escher.

- Non-obstructive (for now) view from Legato

Both units are priced similarly and before I make any decisions, any input would be awesome:) This is potentially something I would actually live in myself but I'm also thinking on the rentable/re-sell value side. 

These two buildings + the Encore which has sold out of 1BR's seem to be at the top of the food chain that's available now (with good track records from the builders anyway). 

Cheers!



#2 MarkoJ

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Posted 03 November 2015 - 11:48 PM

Hi Marko and other readers,

If you had a decision whether to buy a 3rd floor (south facing) 1BR condo in the Escher vs. 10-12th floor (east facing) 1BR condo in the Legato, which would you lean on and why? Some factors to include:

- Similar floor plans 
- Location of the Escher is quieter in my mind

- Strata of Legato is 10 cents cheaper per sq ft. 
- Gym in the Legato

- Different colour palettes with the Escher.

- Non-obstructive (for now) view from Legato

Both units are priced similarly and before I make any decisions, any input would be awesome:) This is potentially something I would actually live in myself but I'm also thinking on the rentable/re-sell value side. 

These two buildings + the Encore which has sold out of 1BR's seem to be at the top of the food chain that's available now (with good track records from the builders anyway). 

Cheers!

 

I believe the Encore has three A1 units left from $290,900 to $296,900.  Includes parking and "Bosa Space."

 

In terms of investment, rent-ability/re-sale value really tough to say/predict, probably similar.  Here is an article I wrote on specifically investment condos -> http://victoria.citi...do-in-victoria/

 

If you want to potentially live in the unit factors such as completion date (Escher wins here) and personal preference to location come into play.  Legato is right across from Harris Green Village (super convenient) while the Escher offers very close proximity to downtown, walking distance to Cook Street village, yet relatively quite.  Are you about scoring deals at London Drugs or being a hipster that likes to eat out at Cafe Fantastico on Humboldt?

 

South exposure (most desirable) cancels out higher east facing floors, for the most part.  Don't read too much into the per square foot strata cost.  Within 5 years I highly doubt the spread will be 10 cents or 25% between the two buildings.   The Escher floor plan has a cool desk/mini office area, the Legato has a lot of window surface area to enjoy the view.  Gym vs rooftop, personal preference.  In terms of quality not much of a difference....both are using baseboard heat, etc., etc., heck even both are using the exact same kitchen company (Benson).  You do have a bit more customization available at the Escher and the other thing you'll want to confirm that I don't have off the top of my head is ceiling height.  A couple of inches in ceiling height can make a big difference to the overall feel of the condo.

 

In conclusion, they would probably rent for a similar amount and will likely perform in a similar fashion on re-sale.  A lot of the other factors are personal preference.

 

***For full disclosure I purchased an A1 at the Encore recently and have previously purchased and still own units at Promontory (Bosa), 834 (Chard), Era (Concert).  Have never bought anything from Alpha.


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#3 MarkoJ

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Posted 03 November 2015 - 11:50 PM

And if value is important to you then you may want to take a look at this -> http://markojuras.co...ondo-cash-back/

 

Not intended to solicit :)


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www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

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#4 hi_lambo

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Posted 04 November 2015 - 02:47 AM

I believe the Encore has three A1 units left from $290,900 to $296,900.  Includes parking and "Bosa Space."

 

In terms of investment, rent-ability/re-sale value really tough to say/predict, probably similar.  Here is an article I wrote on specifically investment condos -> http://victoria.citi...do-in-victoria/

 

If you want to potentially live in the unit factors such as completion date (Escher wins here) and personal preference to location come into play.  Legato is right across from Harris Green Village (super convenient) while the Escher offers very close proximity to downtown, walking distance to Cook Street village, yet relatively quite.  Are you about scoring deals at London Drugs or being a hipster that likes to eat out at Cafe Fantastico on Humboldt?

 

South exposure (most desirable) cancels out higher east facing floors, for the most part.  Don't read too much into the per square foot strata cost.  Within 5 years I highly doubt the spread will be 10 cents or 25% between the two buildings.   The Escher floor plan has a cool desk/mini office area, the Legato has a lot of window surface area to enjoy the view.  Gym vs rooftop, personal preference.  In terms of quality not much of a difference....both are using baseboard heat, etc., etc., heck even both are using the exact same kitchen company (Benson).  You do have a bit more customization available at the Escher and the other thing you'll want to confirm that I don't have off the top of my head is ceiling height.  A couple of inches in ceiling height can make a big difference to the overall feel of the condo.

 

In conclusion, they would probably rent for a similar amount and will likely perform in a similar fashion on re-sale.  A lot of the other factors are personal preference.

 

***For full disclosure I purchased an A1 at the Encore recently and have previously purchased and still own units at Promontory (Bosa), 834 (Chard), Era (Concert).  Have never bought anything from Alpha.

Thanks for the great feedback Marko!

I'll definitely pay a visit to the Encore showroom and investigate further about the leftover units. The Encore building does sound like a tier higher than the Escher and Legato and getting a unit around the same price might even be a better investment? 

Like you said, I think it does boil down to personal preference. My plan would be to live in it but if work calls and I need to move abroad, renting at a good price shouldn't be any issue in any of these 3 buildings. I like the fact that Escher allows for customization although only one palette (I think it's called "Canvas"), catches my eye. The rooftop is quite nice and given the fact that the YMCA is right across the street basically cancels out the gym in the Legato. 

Two factors that have me leaning towards Legato, one is the colour combinations they have used for the interior design. The grey laminate floors and the stainless steel appliances really play to my personal preference. The other major kicker is the opportunity to have an East facing view (10-12th floor up). Do you think the value in such a higher up unit (12th in Legato vs 3rd in Escher) have any significant value over one another after 5 years? 

I know the Legato is 8.5 ft. ceilings but I'm not sure about Escher - will definitely look into that as well. 

Thanks again!
 



#5 MarkoJ

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Posted 05 November 2015 - 05:33 PM

Thanks for the great feedback Marko!

I'll definitely pay a visit to the Encore showroom and investigate further about the leftover units. The Encore building does sound like a tier higher than the Escher and Legato and getting a unit around the same price might even be a better investment? 

Like you said, I think it does boil down to personal preference. My plan would be to live in it but if work calls and I need to move abroad, renting at a good price shouldn't be any issue in any of these 3 buildings. I like the fact that Escher allows for customization although only one palette (I think it's called "Canvas"), catches my eye. The rooftop is quite nice and given the fact that the YMCA is right across the street basically cancels out the gym in the Legato. 

Two factors that have me leaning towards Legato, one is the colour combinations they have used for the interior design. The grey laminate floors and the stainless steel appliances really play to my personal preference. The other major kicker is the opportunity to have an East facing view (10-12th floor up). Do you think the value in such a higher up unit (12th in Legato vs 3rd in Escher) have any significant value over one another after 5 years? 

I know the Legato is 8.5 ft. ceilings but I'm not sure about Escher - will definitely look into that as well. 

Thanks again!
 

 

Encore you have taller ceilings, fan coil heating versus baseboards, a couple of very nice built-ins in the one bedrooms, pool/gym, etc.  The area also has latent potential with the new bridge, roundhouse, etc.  The flip side is the wait for this building is long.

 

The 12th floor east view versus 3rd floor south facing cancels out a bit.  Legato the view is also not 100% protected (there will be other buildings going up).  With the 3rd floor at the Escher facing South you know at least the Broughton Street is not going anywhere, even if the YMCA goes one day.

 

Over the long term as the building depreciates due to age I find the view nets a smaller premium.  You can get some nice views in older buildings for a spread between floors that is much smaller than new construction.


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www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#6 hi_lambo

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Posted 06 November 2015 - 11:56 AM

 

Encore you have taller ceilings, fan coil heating versus baseboards, a couple of very nice built-ins in the one bedrooms, pool/gym, etc.  The area also has latent potential with the new bridge, roundhouse, etc.  The flip side is the wait for this building is long.

 

 

The 12th floor east view versus 3rd floor south facing cancels out a bit.  Legato the view is also not 100% protected (there will be other buildings going up).  With the 3rd floor at the Escher facing South you know at least the Broughton Street is not going anywhere, even if the YMCA goes one day.

 

 

Over the long term as the building depreciates due to age I find the view nets a smaller premium.  You can get some nice views in older buildings for a spread between floors that is much smaller than new construction.

 

Hi Marko, 

I did visit the Encore showroom and it has made me double clutch any decision hah. I forgot to ask about the ceiling height, is it 9ft in the A1 units? The fan coil heating/AC is very attractive and so is the heated pool/gym. Like you said as well, with the Roundhouse expected to launch near the Encore date, and the new Johnson st. bridge, the offering that Encore/Promontory holds over all the other condos directly downtown may potentially help hold it's value longer especially in the first 5 years, which is how long I see myself living there. 

Legato is 2 years out, Encore is 3, maybe another year is simply worth the wait. In 2020, Legato will be surrounded by the Johnson development and we'll most likely see plans for other condos in and around that area. Facing North East in the Encore, is it for sure that nothing will be built to the left of the Promontory? Couple of other questions if you don't mind me asking:

- With the upscale pool, gym and other amenities, what do you expect for strata increases within 5 years of launch?
- What do you think an A1 unit would rent for? (Let's take 6th floor for example which is the highest unit they have left for sale)

Thanks again!
Brandon


 



#7 Mike K.

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Posted 06 November 2015 - 01:43 PM

When you say nothing "left" of Promontory, which direction are you referring to?

 

West of Promontory/Encore there are another four towers planned.


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#8 MarkoJ

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Posted 06 November 2015 - 02:23 PM

Hi Marko, 

I did visit the Encore showroom and it has made me double clutch any decision hah. I forgot to ask about the ceiling height, is it 9ft in the A1 units? The fan coil heating/AC is very attractive and so is the heated pool/gym. Like you said as well, with the Roundhouse expected to launch near the Encore date, and the new Johnson st. bridge, the offering that Encore/Promontory holds over all the other condos directly downtown may potentially help hold it's value longer especially in the first 5 years, which is how long I see myself living there. 

Legato is 2 years out, Encore is 3, maybe another year is simply worth the wait. In 2020, Legato will be surrounded by the Johnson development and we'll most likely see plans for other condos in and around that area. Facing North East in the Encore, is it for sure that nothing will be built to the left of the Promontory? Couple of other questions if you don't mind me asking:

- With the upscale pool, gym and other amenities, what do you expect for strata increases within 5 years of launch?
- What do you think an A1 unit would rent for? (Let's take 6th floor for example which is the highest unit they have left for sale)

Thanks again!
Brandon


 

 

I believe the height is 8'10'' in the A1s.

 

***I purchased the 14th floor A1 so while I don't intend my answer below to be bais, they could be.***

 

- Not much can be built facing north other than the Dockside Development being finished off, but that is a solid distance from the Encore.

 

- The X factor is whether the Promontory owners (including myself) will vote to gain privelages to the Encore pool/gym and participate in the cost.  My best guess based on all the buildings I own in would be 3-5% increase first two years followed by 2 to 3% per year.  This is nothing but an educated guess.  

 

- 6th floor with the Bosa Space and parking spot I am guessing $1,400 to $1,450 per month.  Educated guess based on what I rent my unit at the Promontory for.


Edited by MarkoJ, 06 November 2015 - 02:27 PM.

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www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

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#9 hi_lambo

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Posted 11 November 2015 - 12:04 PM

I believe the height is 8'10'' in the A1s.

 

***I purchased the 14th floor A1 so while I don't intend my answer below to be bais, they could be.***

 

- Not much can be built facing north other than the Dockside Development being finished off, but that is a solid distance from the Encore.

 

- The X factor is whether the Promontory owners (including myself) will vote to gain privelages to the Encore pool/gym and participate in the cost.  My best guess based on all the buildings I own in would be 3-5% increase first two years followed by 2 to 3% per year.  This is nothing but an educated guess.  

 

- 6th floor with the Bosa Space and parking spot I am guessing $1,400 to $1,450 per month.  Educated guess based on what I rent my unit at the Promontory for.

Thanks again for the feedback Marko.

I'll say hello from my 6th floor unit when the time comes:) 

Cheers!
Brandon



#10 MarkoJ

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Posted 11 November 2015 - 05:23 PM

Thanks again for the feedback Marko.

I'll say hello from my 6th floor unit when the time comes:) 

Cheers!
Brandon

 

Congrats!  I think you made a solid decision :)


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2019 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


 



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