2514 replies to this topic

[bpetrie3]

Does anyone know who is financing this project?  If it is a bank they usually advertise their involvement on the sign or literature.   I have read of a fairly big outfit back east called Home Trust that specializes in financing projects and mortgages that is in serious trouble.  It would be nice to know that this project has solid backing other than the purchasers.

[Mattjvd]

Does anyone know who is financing this project? If it is a bank they usually advertise their involvement on the sign or literature. I have read of a fairly big outfit back east called Home Trust that specializes in financing projects and mortgages that is in serious trouble. It would be nice to know that this project has solid backing other than the purchasers.

Amadon Group, Fortress Real Developements, and BDMC are the organizations involved in this developement

[Mike K.]

^^

Does anyone know which company is actually doing the construction?  One of the partners - Fortress- seems to be more of a financier and they look like they have a Toronto base.  

 

So you forgot it was Fortress? 

[bpetrie3]

Thanks, Checking BDMC they are in the business of financing projects such as this.

[Mike K.]

From the sales team at The Wade via their Facebook page:

 

"We've redesigned our remaining G floorplan 3BR units into DELUXE 2BR+den suites offering two large bedrooms, a large den, 9'6" ceilings and wrap-around floor-to-ceiling windows along the sunny south and west sides of The Wade. And did we mention they come with two parking stalls? Come in and see us at 2-1315 Cook Street Saturday through Thursday, noon-to-5PM."

 

So those are the G-layouts on the second and third floors, which overlook the southwest corner of the building. The top floor G already sold as a 3BR.

[Mike K.]

With a focus on green spaces and Victoria's first 'farm-to-table' green roof for the exclusive use of residents, The Wade is changing the way Victorians look at common areas at condominium developments.

 

First-time buyers take note: aggressively-priced concrete condos nearly sold out at The Wade

http://victoria.citi...ut-at-the-wade/

 

The rare opportunity to purchase an all-concrete low-rise home or investment property in downtown Victoria is coming to a close as The Wade, a 102-unit, two-building condominium development at Cook and Johnson streets, approaches sold-out status.

Developer David Price of Tenfold Projects says the latest push from buyers has focused on the The Wade’s remaining larger suites, leaving about a dozen aggressively-priced junior one-bedroom and studio layouts on the table.

“In terms of price point, an all-concrete downtown Victoria home priced between $260,000 and $300,000 is an in-demand purchase opportunity, every developer and agent will tell you that,” Price said, confirming that the Tenfold team has been “fielding call after call regarding larger units” while “the most competitively-priced floorplans are getting glanced over by retirees and downsizers focused on our larger inventory.” [Full article]

[sebberry]

I cringe at the maintenance that will be required on that roof in 20 years. 

[thundergun]

Sponsored content?

 

First-time buyers take note: aggressively-priced concrete condos nearly sold out at The Wade

[Mike K.]

I dunno. Chard's rooftops have held up exceptionally well. And the planters are all above the membrane, not part of the membrane.

The Era building has a green roof with nearly the entire surface planted, but it's not accessible to residents.

[Mixed365]

I dunno. Chard's rooftops have held up exceptionally well. And the planters are all above the membrane, not part of the membrane.

The Era building has a green roof with nearly the entire surface planted, but it's not accessible to residents.

I had no idea about the Era. Does anyone have a pic of this?

[VicHockeyFan]

I cringe at the maintenance that will be required on that roof in 20 years. 

 

Funny enough, about a week ago I met a travelling insurance adjuster and risk-manager for a large back-East insurance company that insures multi-family residential, both rentals and condos.  He was here looking at a claim on Shelbourne St.  He feels when done right, there are no real issues.  And this guy has worked on Shutters, The Wave and others that have water features that might be troublesome.

[shoeflack]

Sponsored content?

 

It was written by a Wade owner after all.  

[Mike K.]

I had no idea about the Era. Does anyone have a pic of this?

Yes! We had a chance to go up there a while back and there are photos in the thread. I can't search for them right now (about to go on the radio) but they're in there.

It's quite neat.

[Mike K.]

Ah, found the Era green roof photos with seconds to spare: http://vibrantvictor...in-2015/page-62

[Mike K.]

The interior gutting of the Medical Arts building continues as crews start work on the grounds.

 

From June 13th

 

 

 

[Mike K.]

Oh, and the project is now 85% sold-out. About 10-units remain priced between $259,000 and $420,000, plus (I think) several two-bedroom units.

[Kapten Kapsell]

Oh, and the project is now 85% sold-out. About 10-units remain priced between $259,000 and $420,000, plus (I think) several two-bedroom units.

 

Ah, they must have sold out of the 3-bedrooms then...

[Mike K.]

I think the last remaining three-bedroom units were reconfigured into two-bedroom units that afford larger bedrooms and a larger den.

[Baro]

Wonder what that says about the demand for 3 bedroom units.  They are apparently dangerously rare yet people are not willing to pay for them ?

[Mike K.]

In this case, at least, it came down to the bedrooms being too small for interested buyers. So the developer opted to redesign the floor plans to offer two larger bedrooms and a large den in lieu of three bedrooms.