Jump to content

      













UNDER CONSTRUCTION
Westbay Quay
Uses: condo, commercial
Address: Head Street at Lyall Street
Municipality: Esquimalt
Region: Urban core
Storeys: 6
Condo units: 85 (1BR, 2BR, live-work)
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: https://goo.gl/B6m5KA
Photo

[Esquimalt] Westbay Quay | Condos, commercial | 6-storeys | Under construction


  • Please log in to reply
142 replies to this topic

#41 AllseeingEye

AllseeingEye

    AllSeeingEye

  • Member
  • 3,942 posts
  • LocationGorge-Selkirk

Posted 27 September 2017 - 08:56 PM

Welcome to VV, David.

 

Some parts of Esquimalt were somewhat shady up until about 15 years ago but certainly no worse than some parts of the big municipality of Saanich or the Westshore (Langford, Colwood, etc.).

 

But that being said, most folks probably don't know that James Bay was once a very shady area until several decades ago when ports were closed and industrial zones were transformed. Today James Bay is held up as one of the most desirable areas of the region (how times change, hey?).

 

Ideas and misconceptions die long, hard deaths. The truth about Esquimalt is its always been a quasi extension of the City of Victoria in the sense that it's close to downtown. It has amazing waterfront properties and in the real-estate world has been a quietly held secret. Check out Rockheights, Saxe Point, Selkirk and the Parklands areas. West Bay already has two newer condos overlooking the harbour built by the same guys behind Westbay Quay and some of the units are worth millions. Would folks buying multi-million dollar condos do so in a "no way" part of town?

 

West Bay Marina has a huge amount of upwards value potential thanks to its long-held anti-development attitude that's slowly being chipped away. Have a look for yourself and chat with the locals. You'll learn more than listening to folks who have so clearly intimated that they have a absolutely no idea what they're talking about if indeed they are telling you "no way."

Pretty much this: I grew up in Gordon Head as a kid and for half my life to age 27 lived a block from UVic on the Saanich-Oak Bay border. Later I lived for about 5 years in, ahem, 'upscale' Fairfield near the Cook Street Village: Esquimat was always perceived as this 'across the bridge', uber-working class, blue collar neighborhood where off duty navy guys got drunk on cheap beer in smoke-filled bars....

 

....and that is so 1970's-thinking and its also dead wrong; I've lived a block from the Selkirk neighborhood on the Gorge waterway now almost 6 years. Its a great place to live, raise your kids and its a hell of a lot quieter than Fairfield-Cook Street, which had emergency responder sirens going seemingly every night since Fairfield Road is a main west-east arterial route to RJH for ambulances and police etc.

 

By contrast we rarely ever see a cop car here, never mind hear it. Selkirk in the spring or fall is as beautiful a neighborhood as you'll find in the core; and Parklands is probably one of the most underrated locations anywhere in the CRD mainly because so few people are even aware it exists. So to answer your question David a resounding "NO" - Esquimalt really isn't that bad....



#42 lanforod

lanforod
  • Member
  • 7,138 posts
  • LocationSaanich

Posted 27 September 2017 - 09:13 PM

Parklands is basically surrounded by reserve and DND. I'm surprised at the cost of places there, actually.



#43 aastra

aastra
  • Member
  • 14,695 posts

Posted 28 September 2017 - 09:50 AM

 

Is Esquimalt really that bad?

 

Esquimalt can be a funny place. The Esquimalt policing thread makes for a good read.



#44 sdwright.vic

sdwright.vic

    Burnside-Gorge

  • Member
  • 6,523 posts

Posted 28 September 2017 - 05:06 PM

The Esq policing thread is actually the Vic policing thread since that at least has been amalgamated.
Predictive text and a tiny keyboard are not my friends!

#45 VicHockeyFan

VicHockeyFan
  • Suspended User
  • 52,121 posts

Posted 09 October 2017 - 09:04 PM

With 65 suites in the Topaz, eight live/work units in the Lapis and just 12 homes in the Sapphire, all residents will live in the immediate vicinity of fine food and retail, all within walking distance.

 

 

http://westbayquay.com/neighbourhood/

 

I cry foul.  The restaurant closed (it was hardly fine food).  And retail in walkin distance?  The pawn shop up the hill is closing.


  • Nparker likes this
<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>

#46 magmazing

magmazing
  • Member
  • 67 posts

Posted 09 October 2017 - 10:49 PM

Visited the sales centre and found out one bedroom prices start in the high 400s. My visit did not last long. 



#47 TheInterior

TheInterior
  • Member
  • 15 posts

Posted 10 October 2017 - 12:07 AM

Visited the sales centre and found out one bedroom prices start in the high 400s. My visit did not last long. 

 

Magmazing,

 

Please reply to this thread with additional numbers. I emailed their sales' team this week and I was told specific numbers were unavailable. I never thought 1 bedroom units would sell for $450,000 - 499,000.

 

Are you telling me Topaz units 208 and 211 are close to $500,000? Both units are 575 square feet facing the arm pit of Lapis. Does anyone know the expected completion date of this project because these numbers don't make sense to me.

 

1 bedroom

$500,000 price tag

20% down

3.0% interest rate/Bank of Canada Test rate 4.8%

=1900 mortgage/2300 test

+25,000 GST

+Strata

+Closing Costs

=Have fun investors because I'm out.



#48 Mike K.

Mike K.
  • Administrator
  • 49,282 posts

Posted 10 October 2017 - 06:36 AM

I sense a bit of “I expected a discount because it’s Esquimalt” resonating here. The surprise isn’t the cost of the units, it’s that Esquimalt finally has a condo project that will stand out among the region’s current offerings.

@VHF, at Head and Esquimalt you’ve got the Mexican restaurant that has expanded to downtown, a sushi place that is a cut above many (no jokes here, it’s great), an African restaurant that is also well regarded, then you’ve got a Subway, a pizza place, Tim Hortons, A&W, a medical clinic, drug store, a 24 hour Shoppers Drug Mart and a crappy pub plus a liquor store. Several blocks west you’ve got the whole Esquimalt plaza retail centre.


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


#49 TheInterior

TheInterior
  • Member
  • 15 posts

Posted 10 October 2017 - 08:29 AM

I sense a bit of “I expected a discount because it’s Esquimalt” resonating here. The surprise isn’t the cost of the units, it’s that Esquimalt finally has a condo project that will stand out among the region’s current offerings.

@VHF, at Head and Esquimalt you’ve got the Mexican restaurant that has expanded to downtown, a sushi place that is a cut above many (no jokes here, it’s great), an African restaurant that is also well regarded, then you’ve got a Subway, a pizza place, Tim Hortons, A&W, a medical clinic, drug store, a 24 hour Shoppers Drug Mart and a crappy pub plus a liquor store. Several blocks west you’ve got the whole Esquimalt plaza retail centre.

 

The honest truth is I'm annoyed with myself because I've misjudged the pre-sales market once again. I was expecting high 300's for the 575 sqft units, 425 for regular 1 bedrooms, and high 400/low 500 for 2+ bedrooms.

 

Mike and I had a private conversation about WestBay last week, which led me to believe my numbers would be off. I wasn't expecting my numbers to be off by this much lol. As for an Esquimalt discount, based upon other condo units in the area, I thought a discount would be in play.

 

Unlike investors/speculators, I was going to make WestBay my permanent home for 5-10 years. The pre-sales market has won for now. :D


  • VicHockeyFan likes this

#50 Mike K.

Mike K.
  • Administrator
  • 49,282 posts

Posted 10 October 2017 - 09:50 AM

Yup, it’s definirely higher than I think most would have liked, but it’s in line with what you’d pay for any concrete waterfront offering in the region. A quick look at the decade old Swallows Landing resale inventory gives us an indication of the types of prices people are willing to pay.

The value is in the location. Buying in Esquimalt today (especially along the waterfront) is a medium-term move that will pay off once the area really picks up steam when the military starts shedding excess waterfront land. Currently they are the primary land holder of Esquimalt’s most lucrative properties and the lands are sitting under utilized or vacant. Being “in” when that happens will be very lucrative.

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


#51 VicHockeyFan

VicHockeyFan
  • Suspended User
  • 52,121 posts

Posted 10 October 2017 - 10:49 AM

Is the military in any hurry to divest lands?  There is not much in it for them financially since they are mandated to just give it to the natives.  It's not like they can sell it to fund F-18 purchases.


  • Nparker likes this
<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>

#52 Mike K.

Mike K.
  • Administrator
  • 49,282 posts

Posted 10 October 2017 - 12:35 PM

It was an almost done deal about a decade ago and then it all just fell apart. It's still on the radar, but for now there's not much pressure to do anything with the land.


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


#53 magmazing

magmazing
  • Member
  • 67 posts

Posted 10 October 2017 - 05:24 PM

Magmazing,

 

Please reply to this thread with additional numbers. I emailed their sales' team this week and I was told specific numbers were unavailable. I never thought 1 bedroom units would sell for $450,000 - 499,000.

 

Are you telling me Topaz units 208 and 211 are close to $500,000? Both units are 575 square feet facing the arm pit of Lapis. Does anyone know the expected completion date of this project because these numbers don't make sense to me.

 

1 bedroom

$500,000 price tag

20% down

3.0% interest rate/Bank of Canada Test rate 4.8%

=1900 mortgage/2300 test

+25,000 GST

+Strata

+Closing Costs

=Have fun investors because I'm out.

I was only given a range as the specific pricing won't be out till later this week. The range for the one-bedrooms I was told was high 400s to 600s. All units get a parking spot.

I was hoping the lower end pricing would have been more approachable considering the mediocre southwest views that face crappy military buildings and no water, but I was not very surprised to find out the development is way out of my price range. 



#54 TheInterior

TheInterior
  • Member
  • 15 posts

Posted 10 October 2017 - 07:09 PM

I was only given a range as the specific pricing won't be out till later this week. The range for the one-bedrooms I was told was high 400s to 600s. All units get a parking spot.

I was hoping the lower end pricing would have been more approachable considering the mediocre southwest views that face crappy military buildings and no water, but I was not very surprised to find out the development is way out of my price range. 

 

Thank you for taking time out of your day to relay this information. Onward to another project.


  • VicHockeyFan likes this

#55 Citified.ca

Citified.ca
  • Administrator
  • 1,564 posts
  • LocationVictoria, BC

Posted 18 October 2017 - 10:29 AM

Sales-of-collector-real-estate-starting-soon-at-harbourfront-Westbay-Quay-dev.jpg

An artist's rendering of a suite at Westbay Quay, an 85-unit harbourfront development coming soon to the Inner Harbour's West Bay Marina in Esquimalt.

 

Sales launch date unveiled for harbourfront "collector real-estate" at Westbay Quay

http://victoria.citi...quay-esquimalt/

 

Luxury Inner Harbour residences along the West Bay Marina waterfront will officially hit the market later this month, Citified has learned.

 
Developer Tenfold Projects recently unveiled the three-building, 85-unit Westbay Quay complex – featuring a mix of one and two-bedroom suites and a collection of exclusive harbourside penthouses – geared towards buyers seeking uniquely situated and apportioned ‘collector real-estate’ homes, a term used in reference to up-market, one-of-a-kind properties.
 
Developer Max Tomaszewski says the project’s ideal location, coupled with Tenfold’s forward-living mantra that epitomized the company’s efforts at its nearly sold-out The Wade development, will deliver a future-focused community along the shores of Victoria’s iconic Inner Harbour. [Full article]

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

#56 Mixed365

Mixed365
  • Member
  • 923 posts

Posted 18 October 2017 - 10:45 AM

Yup, it’s definirely higher than I think most would have liked, but it’s in line with what you’d pay for any concrete waterfront offering in the region. A quick look at the decade old Swallows Landing resale inventory gives us an indication of the types of prices people are willing to pay.

The value is in the location. Buying in Esquimalt today (especially along the waterfront) is a medium-term move that will pay off once the area really picks up steam when the military starts shedding excess waterfront land. Currently they are the primary land holder of Esquimalt’s most lucrative properties and the lands are sitting under utilized or vacant. Being “in” when that happens will be very lucrative.

 

 

Is it a full concrete and steel building or is it just the podium that is concrete?


“To understand cities, we have to deal outright with combinations or mixtures of uses, not separate uses, as the essential phenomena.”
- Jane Jacobs 


#57 Jackerbie

Jackerbie
  • Member
  • 2,323 posts
  • LocationRichmond, BC

Posted 18 October 2017 - 10:49 AM

^ Full concrete, according to the Citified article above.



#58 Mike K.

Mike K.
  • Administrator
  • 49,282 posts

Posted 18 October 2017 - 12:56 PM

Yup, full concrete.

They’ll also be incorporating a new hardwood flooring technology that purifies air. It absorbs and neutralizes odours and off-gassing of new materials. I think it’ll be one of if not the first local project to incorporate it.
  • Nparker likes this

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


#59 Nparker

Nparker
  • Member
  • 23,274 posts

Posted 18 October 2017 - 01:04 PM

...They’ll also be incorporating a new hardwood flooring technology that purifies air. It absorbs and neutralizes odours and off-gassing of new materials...

As long as it doesn't turn out to be the "asbestos insulation" of the 21st century.  :unsure:



#60 Mixed365

Mixed365
  • Member
  • 923 posts

Posted 18 October 2017 - 01:15 PM

Yup, full concrete.

They’ll also be incorporating a new hardwood flooring technology that purifies air. It absorbs and neutralizes odours and off-gassing of new materials. I think it’ll be one of if not the first local project to incorporate it.

 

Link to that type of hardwood flooring?


“To understand cities, we have to deal outright with combinations or mixtures of uses, not separate uses, as the essential phenomena.”
- Jane Jacobs 


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.
 



0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users