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UNDER CONSTRUCTION
Westbay Quay
Uses: condo, commercial
Address: Head Street at Lyall Street
Municipality: Esquimalt
Region: Urban core
Storeys: 6
Condo units: 73 (1BR, 2BR, live-work)
Sales status: pre-sales
Westbay Quay is a 73-suite, two and six-storey all-concrete condominium project with a ground floor retail com... (view full profile)
Learn more about Westbay Quay on Citified.ca      Official website: https://goo.gl/B6m5KA
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[Esquimalt] Westbay Quay | Condos, commercial | 6-storeys | Under construction


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#141 Citified.ca

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Posted 26 June 2019 - 08:35 AM

Crews are working on asbestos abatement at the site prior to demolition.

 

June 25

 

Westbay-Quay-June-25-2019.jpg


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#142 Citified.ca

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Posted 09 July 2019 - 09:08 AM

Demolition will be completed by day's end.

 

Westbay-Quay-July-8-2019.jpg


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#143 Citified.ca

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Posted 23 July 2019 - 10:16 AM

Excavation-begins-for-waterfront-Westbay-Quay-condominiums-along-the-Inner-Harbour.jpg

Excavators are working away at Lyall, Head and Gore streets in Esquimalt working on the future site of Westbay Quay, an 85-home mixed-use condominium and retail development along the western shores of the Inner Harbour.

 

Excavation begins for waterfront Westbay Quay condominium dev on the Inner Harbour

https://victoria.cit...-inner-harbour/


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#144 Citified.ca

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Posted 24 September 2019 - 07:02 AM

September 18

 

Westbay-Quay-September-18-2019.jpg

 

Westbay-Quay-September-18-2019b.jpg


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#145 Citified.ca

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Posted 18 October 2019 - 10:44 AM

The starting price for the six suites are the Sapphire is $1.84 million, and one home, the penthouse on the fifth floor, has already sold for between $2.7 and $3 million.

 

Remaining inventory in the adjacent six-storey Topaz building is priced from $410,000.

 

Ultra-luxury-Sapphire-condominiums-unveiled-at-Inner-Harbour's-Westbay-Marina.jpg

A representation of the view from Westbay Quay, a waterfront development now underway along the western shores of the Inner Harbour. Westbay Quay's five-storey Sapphire phase, comprised of six multi-million dollar luxury residences, will be unveiled this weekend.

 

Ultra-luxury Sapphire condominiums unveiled at Inner Harbour's Westbay Marina

https://victoria.cit...westbay-marina/

 

One of the Capital Region’s most prestigious condominium offerings is scheduled for its unveiling this weekend at Esquimalt’s Westbay Quay on the western shores of the Inner Harbour.

 
Sapphire at Westbay Quay, the second and final phase of the up-market Westbay Quay development slated for Head and Lyall streets in Esquimalt, will launch with a limited collection ultra-luxury oceanside residences valued into the millions of dollars.
 
“Sapphire is one of the most luxurious and prestigious new-build real-estate offerings on Vancouver Island,” said David Price, partner at Victoria development firm Tenfold Projects, which spearheaded the nearby Swallows Landing community that several years prior brought international acclaim to the shores of Esquimalt for its luxury highrise homes and sweeping views of Victoria’s Inner Harbour waterfront.
 
“Swallows Landing is one of only a handful of projects on Vancouver Island that fall into the category of true high-end living, and its sought after estates are the inspiration for Sapphire’s gorgeous offerings positioned to take in the incredible views of the harbour, downtown Victoria and the strait.” [Full article]

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#146 Mixed365

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Posted 18 October 2019 - 12:59 PM

- 6 units

- Concrete

- 5-storeys

- Underground parkade

- Two full-floor layouts

- $125 per foot towards custom interior design

- Esquimalt market

 

I have no idea how this project pencils out financially. 

It reminds me of Eventide property in Vancouver at 1460 Bute. Corner of Bute and Pacific. Right on Sunset Beach in Downtown Vancouver where...wait for it... none have sold. See links for more:


https://www.theglobe...perfect-pied-a/

 

https://www.rew.ca/p...query=1460 bute

 

http://eventidethree.com/

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Edited by Mixed365, 18 October 2019 - 01:02 PM.

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


#147 Mike K.

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Posted 18 October 2019 - 01:07 PM

In Sapphire’s case the penthouse has already sold, leaving five of the six suites still on the market.

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#148 Mixed365

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Posted 18 October 2019 - 01:42 PM

Right... but who bought the PH? 

I have no inside information, but I would not surprised if it were the Developer. 


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


#149 Mike K.

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Posted 18 October 2019 - 01:47 PM

That information has been withheld, as it is in any such transaction.

I’ve been watching this project quite closely and just to give you an idea of how many monied purchasers combined units in the Topaz building, consider there were 79 when the project launched and today there are 73.

There’s big money out there and Swallows Landing has played a key part in attracting fans of that project to Westbay.

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#150 Mixed365

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Posted 18 October 2019 - 03:13 PM

Technically it is withheld only until they close. 

 

Swallow's Landing is a decent project, but keep in mind it was completed 10+ years ago. 

 

If you consider for a second the construction costs of this project - they are astronomical when compared to the number units and the market in Victoria. 

*If they sell all units 6 units, let says for argument sake, they are 1MM each. 6MM total. The UG parkade alone will be 500K to construct. Once you add land costs, financing costs, soft costs, hard costs - they will easily go over the 6MM mark. 

 


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


#151 Mike K.

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Posted 18 October 2019 - 03:20 PM

The underground will be part of the overall project, so it won't be a standalone structure, which would indeed be quite expensive for only 12 vehicles.

 

I believe the gross sales will be in the rage of $15 million. The penthouse, which is much smaller than the 4th floor 3,500 square foot unit, was just itself in the $3 million range.


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#152 newbie_01

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Posted 18 October 2019 - 05:42 PM

Ultra-luxury Sapphire condominiums unveiled at Inner Harbour's Westbay Marina


this is cool and all, but 'tis not an Inner Harbour location  <_< 

reference - http://visitorinvict...ffic-Scheme.png



#153 LJ

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Posted 18 October 2019 - 07:24 PM

this is cool and all, but 'tis not an Inner Harbour location  <_< 

reference - http://visitorinvict...ffic-Scheme.png

Which means you don't get covered with kerosene when you sit out on your patio.


Life's a journey......so roll down the window and enjoy the breeze.

#154 Mixed365

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Posted 21 October 2019 - 06:32 AM

The underground will be part of the overall project, so it won't be a standalone structure, which would indeed be quite expensive for only 12 vehicles.

 

I believe the gross sales will be in the rage of $15 million. The penthouse, which is much smaller than the 4th floor 3,500 square foot unit, was just itself in the $3 million range.

I didn't know the UG would be part of the other project - my bad. 

What leads you to believe it would be in the 15MM range? 


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


#155 Mike K.

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Posted 21 October 2019 - 06:51 AM

I've seen the pricing sheet and prices range from $1.84 million to $4.5 million.


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#156 Mixed365

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Posted 21 October 2019 - 01:06 PM

I've seen the pricing sheet and prices range from $1.84 million to $4.5 million.

 

Right... And that's "asking price"


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


#157 Mixed365

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Posted 21 October 2019 - 01:06 PM

Genuinely curious what other VVers think of the viability of this project. 


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


#158 RFS

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Posted 21 October 2019 - 01:17 PM

Genuinely curious what other VVers think of the viability of this project.


As a standalone project you'd probably be right, but really it's just a part of the overall westbay quay project with different marketing. Is it even a different strata?

 



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