Jump to content

      












UNDER CONSTRUCTION
The Wade
Uses: condo, commercial
Address: 1105 Pandora Avenue
Municipality: Victoria
Region: Downtown Victoria
Storeys: 5
Condo units: 102 (studio/bachelor, 1BR, 2BR, 3BR, penthouse, 2BR + den, junior 1BR, junior 2BR)
Sales status: now selling
The Wade is a two-building, 102-unit mixed-use condominium and ground floor commercial development spanning th... (view full profile)
Learn more about the Wade on Citified.ca
Photo

The Wade | Condos; commercial | 5 and 4-storeys | Under construction


  • Please log in to reply
2331 replies to this topic

#101 Hotel Mike

Hotel Mike

    Hotel Mike

  • Member
  • 2,046 posts

Posted 17 October 2016 - 09:19 AM

I think this is an exciting development...especially if you remember the gross rendering on a sign at Johnson and Cook, for a crappy corner development there.


  • VicHockeyFan and Nparker like this
Don't be so sure.:cool:

#102 VicHockeyFan

VicHockeyFan
  • Suspended User
  • 52,121 posts

Posted 17 October 2016 - 09:22 AM

I think this is an exciting development...especially if you remember the gross rendering on a sign at Johnson and Cook, for a crappy corner development there.

 

Right, we do remember that!


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#103 MarkoJ

MarkoJ
  • Member
  • 5,225 posts
  • LocationVictoria

Posted 17 October 2016 - 03:02 PM

Who cares what it is called!  It is like when people call the top floor of a 4 story building a penthouse :)

 

Study the floor plan but more importantly during your recession period study the blueprints (bulkheads, proximity to elevator shafts, staircases, etc.).  Spend 3-4 hours reading the disclosure statement in detail. If you are spending $250,000-$800,000 you need to do some due diligence.

 

 

 

The below example of bulkhead @ Promontory would not show up on the marketing floorplan, but it would be in the blueprints.

 

Bulkhead.jpg


Edited by MarkoJ, 17 October 2016 - 03:02 PM.

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

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

 

 


#104 attica

attica
  • Member
  • 39 posts

Posted 21 October 2016 - 08:27 AM

Who cares what it is called!  It is like when people call the top floor of a 4 story building a penthouse :)

 

Study the floor plan but more importantly during your recession period study the blueprints (bulkheads, proximity to elevator shafts, staircases, etc.).  Spend 3-4 hours reading the disclosure statement in detail. If you are spending $250,000-$800,000 you need to do some due diligence.

 

 

 

The below example of bulkhead @ Promontory would not show up on the marketing floorplan, but it would be in the blueprints.

 

 

Presales/Marketting typically start while BP (Building Permit, not "Blueprint") drawings are still under development. You are more likely to be looking at DP (Development Permit) level drawings in a sales centre which show less (if any) M and E as it would still be in flux.
 



#105 MarkoJ

MarkoJ
  • Member
  • 5,225 posts
  • LocationVictoria

Posted 22 October 2016 - 12:31 PM

Presales/Marketting typically start while BP (Building Permit, not "Blueprint") drawings are still under development. You are more likely to be looking at DP (Development Permit) level drawings in a sales centre which show less (if any) M and E as it would still be in flux.
 

 

I've personally bought five pre-sales in the last six years and always had access to blueprint drawings. Pre-sales in Victoria are not the same as Vancouver. Pre-sales in Vancouver mean the building is often sold out before a shovel hits the ground.  Pre-sales in Victoria typically means you may or may not get to 25% before you have a shovel in the ground.

 

 

989 Johnson is already seriously excavating and they still have not announced a date for pre-sales.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

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

 

 


#106 Mike K.

Mike K.
  • Administrator
  • 63,441 posts

Posted 29 October 2016 - 09:02 AM

This is going to draw attention, that's for sure. First-time buyers will now have the option of securing a unit with zero down and monthly payments until occupancy that will total up to a 5% deposit. Those going to traditional route will deposit 15% in three stages and earn 10% on those deposits.

 

Zero-down or interest on deposit, developers of The Wade condo turn heads as sales launch nears

http://victoria.citi...s-launch-nears/

 

Developers behind an upcoming downtown Victoria condo project have revealed a pre-sale purchase incentive touted as the region’s most competitive …ever.

 

Partners Amadon Group and Westwater Projects are just days away from the November 5th sales launch of their 102-unit Harris Green project dubbed The Wade, and they’re confident what they have to offer will turn heads.

“We’re presenting something no developer has ever put forward in Victoria,” says Max Tomaszewski, Amadon Group’s president.

 

“Between our sales launch on November 5th and November 19th, we’re offering first-time buyers the opportunity to secure a home with zero dollars down, which we call Build Your Deposit While We Build Your Home. What this means is first-time buyers won’t need to liquify assets for their deposit and instead can use their cash flow. The second option, which we’re calling Build Your Bank Account While We Build Your Home, will earn buyers a 10% interest rate on their pre-sale deposit.” [Full article]


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#107 MarkoJ

MarkoJ
  • Member
  • 5,225 posts
  • LocationVictoria

Posted 29 October 2016 - 09:12 AM

This is going to draw attention, that's for sure. First-time buyers will now have the option of securing a unit with zero down and monthly payments until occupancy that will total up to a 5% deposit. Those going to traditional route will deposit 15% in three stages and earn 10% on those deposits.

 

Zero-down or interest on deposit, developers of The Wade condo turn heads as sales launch nears

http://victoria.citi...s-launch-nears/

 

Developers behind an upcoming downtown Victoria condo project have revealed a pre-sale purchase incentive touted as the region’s most competitive …ever.

 

Partners Amadon Group and Westwater Projects are just days away from the November 5th sales launch of their 102-unit Harris Green project dubbed The Wade, and they’re confident what they have to offer will turn heads.

“We’re presenting something no developer has ever put forward in Victoria,” says Max Tomaszewski, Amadon Group’s president.

 

“Between our sales launch on November 5th and November 19th, we’re offering first-time buyers the opportunity to secure a home with zero dollars down, which we call Build Your Deposit While We Build Your Home. What this means is first-time buyers won’t need to liquify assets for their deposit and instead can use their cash flow. The second option, which we’re calling Build Your Bank Account While We Build Your Home, will earn buyers a 10% interest rate on their pre-sale deposit.” [Full article]

 

Mike do you know if they have any specific pricing yet? 


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2020 | Fair Realty

www.MarkoJuras.com Full Service MLS® - 2.75% | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

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

 

 


#108 Mike K.

Mike K.
  • Administrator
  • 63,441 posts

Posted 29 October 2016 - 09:27 AM

Pricing is starting at $239,900, that's all I really know. I think they will be revealing the prices over the next couple of days.


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#109 VicHockeyFan

VicHockeyFan
  • Suspended User
  • 52,121 posts

Posted 29 October 2016 - 09:34 AM

Pay monthly towards deposit program will attract some attention, for sure.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#110 zoomer

zoomer
  • Member
  • 1,968 posts
  • LocationVictoria - Downtown

Posted 29 October 2016 - 12:12 PM

I got the price list, or range anyways, in an email on Oct. 17

 

H46kIsg.png


  • VicHockeyFan, Nparker and Layne French like this

#111 Mike K.

Mike K.
  • Administrator
  • 63,441 posts

Posted 29 October 2016 - 01:33 PM

Ah, very good.

$675k for a three-bedroom downtown condo is going to make some people second guess that SFD purchase, for sure.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#112 Nparker

Nparker
  • Member
  • 29,083 posts

Posted 29 October 2016 - 01:44 PM

And my 2 (full) bedroom 900 square foot downtown condo, just got a whole lot pricier.  :banana:


  • Mike K. likes this

#113 Urbanistco

Urbanistco
  • Member
  • 172 posts

Posted 31 October 2016 - 10:19 AM

Does this kind of reek of Capital City Centre's "creative" downpayment system...?

 

It would seem they have some very strict financing in place that requires a crap ton of pre-sales...



#114 VicHockeyFan

VicHockeyFan
  • Suspended User
  • 52,121 posts

Posted 31 October 2016 - 11:00 AM

Does this kind of reek of Capital City Centre's "creative" downpayment system...?

 

It would seem they have some very strict financing in place that requires a crap ton of pre-sales...

 

I don't think so.  No monies will be collected prior to the production of a disclosure statement from the developer.  Then normal policies apply.  They are not funding this with bond issues like CCC or OBBH.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#115 Mike K.

Mike K.
  • Administrator
  • 63,441 posts

Posted 31 October 2016 - 11:17 AM

These down payments do not count towards a sale as far as the bank is concerned. In other words, they can't use those sales to reach 50% (or whatever the number is in this market). The bank will only finance the project once they reach 51 cash down sales, plus whatever they secure through the zero-down first-time buyer option.

Someone, whom I believe is involved in the development industry to some degree, commented on the Citified article that the developers were trying to pad their pre-sale numbers with the zero-down perk in order to secure financing, and he alluded to the League fiasco as being similar. I think that was a highly inappropriate statement to have made considering the individual was misinformed on what constitutes a pre-sale in the eyes of the bank and that, unlike at League, the interest on the deposit is not gained by "financing" the developers investments who knows where, but simply receiving an early buyer perk.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#116 Mike K.

Mike K.
  • Administrator
  • 63,441 posts

Posted 06 November 2016 - 01:41 PM

About an hour into yesterday's sales launch 30% of units had been purchased.

Edit: as of this morning I'm told by the sales team the project is now 41% sold out. That's incredible.
  • Nparker likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#117 Yung_Urbanist

Yung_Urbanist
  • Member
  • 8 posts

Posted 23 February 2017 - 03:00 PM

Seems like this thread has been quiet for a while? Anybody has been down to the site lately to see how construction is going? I also wonder if sales maintained that fast-pace... :confused:



#118 Nparker

Nparker
  • Member
  • 29,083 posts

Posted 23 February 2017 - 03:13 PM

...Anybody has been down to the site lately to see how construction is going...

I am pretty construction has yet to start.



#119 Kapten Kapsell

Kapten Kapsell
  • Member
  • 3,090 posts

Posted 23 February 2017 - 03:36 PM

I passed by yesterday and I can confirm that there is no construction underway just yet at the Wade.  I believe they are planning to start construction this Spring though...


  • Nparker likes this

#120 jonny

jonny
  • Member
  • 9,211 posts

Posted 05 March 2017 - 11:58 AM

What's going on with this project? Things seem to be stalled.

You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



2 user(s) are reading this topic

0 members, 2 guests, 0 anonymous users