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595 Pandora's move-in ready Chinatown condos priced from $258,900; sales launch weeks away

Crews are nearing the completion of 595 Pandora's transformation from an office complex into ground floor retail space and four levels of residences. Sales of the project's move-in ready units will begin later this month.  Citified.ca

595 Pandora's move-in ready Chinatown condos priced from $258,900; sales launch weeks away
MIKE KOZAKOWSKI, CITIFIED.CA

Cielo Properties is just days away from the sales launch of its highly anticipated, move-in ready 595 Pandora condo development in Chinatown.

Situated in the 500-block of Pandora Avenue, 595 has been touted as one of the rarest home ownership and investment opportunities in downtown Victoria, where buyers will be afforded the luxury of putting aside floor plans in favour of walkthroughs.

“I can count on one hand the number of times newly-built move-in ready condos have been put on the market in downtown Victoria,” says Cielo Properties’ President, Stan Sipos.

“Right now virtually every downtown condo project actively selling inventory won’t have occupancy until 2018. Residents at 595 will be moving in by February and investors will be making a return on their money without delay. That level of certainty is extremely rare in the pre-sale condo industry.”

The five-storey, 53-unit concrete low-rise will complete on the heels of the nearby Janion micro-loft development, a multi-year restoration of one of Victoria’s oldest buildings that garnered a high level of interest from buyers, investors and the community at-large.

“We’ve received a tremendous amount enquiries from owners at the Janion and individuals who missed out on an opportunity to purchase there, given our proximity to that amazing project, our transient zoning, and our completion date. In fact one buyer interested in a unit at 595 joked that we’ve already done the waiting for her,” Sipos said.

Although 595’s sales centre at the foot of the building is still under construction and not expected to open until later this month, Cielo Properties has revealed an introductory pricing scheme for its unit line-up.

Prices will start at $258,900 for junior one-bedroom units sized between 518 and 669 square feet. 532-to-537 square foot studios will start at $279,900 and one-bedroom units priced from $319,900 will range between 538 and 798 square feet.

Junior two-bedroom homes with layouts of 768-to-805 square feet are priced from $439,900 while two-bedroom units at 825-to-950 square feet will launch just shy of $700,000.

595’s City Collection, a boutique offering of penthouses ranging in size from 1,206-to-1,435 square feet, are not yet priced. Buyers wishing to learn more about the City Collection are asked to contact Cielo Properties via 595’s sales website.

In terms of the project’s deposit structure, Sipos has done away with the industry standard of 15-to-20% down-payment and instead offers the option of as little as 5% down.

“Keep more of your money by investing 5% as a down-payment, and if you’re a renter, why wait two years before you can move in to your new home? Start building equity right away with a move-in ready unit. And if you’re already a homeowner, take advantage of this market by selling your home now and move in to your new condo only days later.”

Unit previews and early purchasing opportunities are scheduled to begin in the next few weeks. Buyers looking to secure an early preview and to learn more about the project are asked to register with Cielo Properties by visiting 595 Pandora’s sales website at www.595Pandora.com or emailing the sales team at info@595pandora.com.

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