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APPROVED
Westbay Quay
Use: condo
Address: Head Street at Lyall Street
Municipality: Esquimalt
Region: Urban core
Storeys: 6
Condo units: 85 (1BR, 2BR)
Sales status: pre-sales
Westbay Quay is a three-building, 85-unit all-concrete condominium complex with a ground floor retail componen... (view full profile)
Learn more about Westbay Quay on Citified.ca      Official website: westbayquay.com
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[Esquimalt] Westbay Quay | Condos, commercial | 6-storeys | Approved


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#61 Mike K.

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Posted 18 October 2017 - 03:05 PM

Here’s he blurb from the site:

The Westbay Quay location is blessed with naturally purified ocean air and residents will also be among the first to enjoy improved indoor air quality through Lauzon’s ingenious smart-floor air purifying system installed in every home.
These premium hardwood floors are just one of the Forward Living features found at Westbay Quay. - http://westbayquay.com/interiors/

Lauzon: https://lauzonflooring.com/

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#62 Mike K.

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Posted 25 October 2017 - 07:29 AM

So this weekend is the official sales launch. Appointments are required for Saturday, but no appointment necessary come Sunday.


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#63 Bingo

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Posted 25 October 2017 - 10:10 AM

Here’s the blurb from the site:

The Westbay Quay location is blessed with naturally purified ocean air and residents will also be among the first to enjoy improved indoor air quality through Lauzon’s ingenious smart-floor air purifying system installed in every home.
These premium hardwood floors are just one of the Forward Living features found at Westbay Quay. - http://westbayquay.com/interiors/
Lauzon: https://lauzonflooring.com/

 

And only 1 km downwind from the new sewage treatment plant.


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#64 MarkoJ

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Posted 26 October 2017 - 12:12 PM

Here’s he blurb from the site:

The Westbay Quay location is blessed with naturally purified ocean air and residents will also be among the first to enjoy improved indoor air quality through Lauzon’s ingenious smart-floor air purifying system installed in every home.
These premium hardwood floors are just one of the Forward Living features found at Westbay Quay. - http://westbayquay.com/interiors/

Lauzon: https://lauzonflooring.com/

 

Any price ranges available yet?


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2016 | 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!

 

 


#65 FirstTimeHomeCrier

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Posted 26 October 2017 - 12:34 PM

And only 1 km downwind from the new sewage treatment plant.

 

The trendy new Dowistrepla neighbourhood!



#66 magmazing

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Posted 26 October 2017 - 03:47 PM

Any price ranges available yet?

 

This was what I got in an email 2 weeks ago: https://imgur.com/a/m5Og2


Edited by magmazing, 26 October 2017 - 03:47 PM.


#67 MarkoJ

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Posted 26 October 2017 - 05:35 PM

This was what I got in an email 2 weeks ago: https://imgur.com/a/m5Og2

 

So basically $800 a square foot.


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2016 | 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!

 

 


#68 Citified.ca

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Posted 06 November 2017 - 11:36 AM

Just like at The Wade, Tenfold Projects is introducing its unique purchase incentives for first-time homebuyers, buyers opting for a traditional deposit structure, and those who wish to combine units into a larger residence.

 

Here's how it works:

 

Build Your Deposit While We Build Your Home: first-time buyers, who may be professionals, small business owners, or simply purchasers who recognize the benefits of a live-work designation, will be able to secure one of Westbay Quay’s 17 live-work residences with no money down. Instead of a deposit, buyers will make interest-free monthly payments that will eventually total 5% of the value of their selected live-work unit. The payment period will occur right through construction and up to the occupancy period.

 
Build Your Bank Account While We Build Your Home: buyers opting for the traditional 15% deposit route will present 10% down at signing, with the final 5% when construction begins. The total deposited sum will accrue a one-time 10% interest payable upon occupancy.
 
Combo Unit Incentive: buyers wishing to combine any two side-by-side suites at Westbay Quay’s Sapphire, Lapis and Topaz buildings will receive a 10% discount on the purchase price of their (combined) home.  The services of Anne Greenhough, interior designer at Tenfold, are included to facilitate the combination of suites. This offer is not available with the first-time buyer deposit or the 10% deposit interest programs described above.
 
Zero-down-or-interest-on-deposit-Westbay-Quay-condo-dev-launches-sales-with-market-leading-incentives.jpg
An artist's rendering of the Westbay Quay development coming to the western shores of the Inner Harbour. Westbay Quay's 85 waterfront suites are now available for purchase with buyer incentives unique to the Victoria condominium pre-sale marketplace.
 
Zero-down or interest on deposit, Westbay Quay condo dev launches sales with market-leading incentives
 
Tenfold Projects’ market-leading pre-sale condominium purchase incentives have returned to Victoria in celebration of the company’s latest project unveiling.
 
A concept first introduced during last fall’s launch of Tenfold’s The Wade condominium (now under construction in downtown Victoria), the Build Your Deposit While We Build Your Home offer available to first-time buyers and the Build Your Bank Account While We Build Your Home high-interest savings plan on pre-sale deposits lead to an immediate uptake of the project’s 102 suites.
 
Both opportunities are once again being offered to purchasers as part of the sales launch for Westbay Quay, an 85-unit all-concrete waterfront development along the shores of the Inner Harbour.
 
Speaking to Victoria’s pre-sale industry practices, developer Max Tomaszewski says one of the most equitable ways of welcoming potential buyers to a sales centre is to be flexible as a developer and open to a wider breadth of purchase scenarios.
 
“The rigidity of the pre-sales purchasing process in Victoria has always struck me as antiquated,” Tomaszewski says. “We’re cognizant of the fact that as a first-time buyer it can be tough to amass the necessary down payment to purchase a home, so we pull away that obstacle and make the process simpler. And if you’re ready to buy with a down payment, why shouldn’t you be earning interest on your deposit? It’s your money.” [Full article]

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#69 FirstTimeHomeCrier

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Posted 06 November 2017 - 01:08 PM

But can you get approved for a mortgage if you don't have enough for a downpayment?



#70 Mike K.

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Posted 06 November 2017 - 01:28 PM

I think the point of this is to allow someone to maintain their cash in investments or stashed away until it’s time to lock in a mortgage, and just pay 5% for a down payment over the span of two or so years.

So for sure, depending on your income, your lender may need you to put down more than 5% when it comes time to secure a mortgage. The nice thing is if you know you can manage the purchase when it’s tome for occupancy you can lock in a unit - today - with zero down.

I suspect we're going to start seeing additional projects offering 5% down payment options which give buyers another two years or so to figure out the remaining 5-10%. But I don’t think others would be willing to do what Tenfold does for first-time buyers being able to pay down a deposit with a monthly payment.

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#71 lanforod

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Posted 06 November 2017 - 01:42 PM

I read the second option as having to put 10% down, and the remaining 5% down when construction starts. So you still need the 15% overall. 

You get 10% interest on that 15%, but I assume that is not annual, but 10% overall, which is meh, if this takes more than 2 years to complete.

 

The first option regarding live/work may fit what you're describing, Mike, but that won't be what most buyers want to get.



#72 Mike K.

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Posted 06 November 2017 - 01:45 PM

That’s right, I’m only referring to the zero down option for first-time buyers above.

And yes, all other buyers will receive 10% on their 15% deposit. Not that that’s a massive amount, but it sure beats 0% offered at other projects where your money is locked away for 2+ years.

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#73 RFS

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Posted 06 November 2017 - 02:41 PM

Somehow this project does not scream “first time buyer” to me. Esquimalt really needs to do something to attract some developers to do big, family friendly, affordable “aqua on Langford lake” style development. They are missing out on so much growth
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#74 moretrain

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Posted 07 November 2017 - 10:56 AM

Somehow this project does not scream “first time buyer” to me. Esquimalt really needs to do something to attract some developers to do big, family friendly, affordable “aqua on Langford lake” style development. They are missing out on so much growth

 

Well, its just like everywhere else in the CRD that isnt Langford. 'Too big, too dense, too close to schools, too this, too that'. If only things were as easy across the CRD as they seem to be in Langford.



#75 Mike K.

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Posted 21 December 2017 - 08:32 AM

Full size photos: https://victoria.cit...s/westbay-quay/

 

Westbay-Quay-December-20-2017.jpg


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#76 Hotel Mike

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Posted 21 December 2017 - 03:51 PM

I wonder how the navy feels about the idea of new neighbours breathing down their necks.


Don't be so sure.:cool:

#77 Mattjvd

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Posted 21 December 2017 - 03:53 PM

I wonder how the navy feels about the idea of new neighbours breathing down their necks.


Probably pretty happy to have some nice new housing right next to the base.

 



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