Bosa Properties' latest condo development in Victoria has struck a chord with buyers as sales outpace market expectations.
Since mid-September 65 of the 17-storey Encore at Bayview Place's 134 units have sold. The sales volume represents just under 50% of the luxury project's total inventory solidifying Encore as one of the decade's best received residential developments in Victoria.
The combination of a unique location affording unobstructed views coupled with an opportunity to invest in an increasingly popular district within the City of Victoria is what's drawing in the buyers, according to Bosa's sales team.
"Bayview Place is an up-and-coming neighbourhood of Victoria similar to Yaletown in downtown Vancouver. With Encore people are buying into the area's future vision along with a quality product that offers arguably the best views of any condo on the market," said Encore Sales Manager Kelley Olinger.
Bosa's previous tower at Bayview Place is the 177 unit, 21-storey Promontory completed in 2014 immediately to the northeast of the Encore site. The project gave Bosa an opportunity to craft Encore's floor plans to better meet the demands of the local market by offering more of what was sought after at the Promontory.
"We learned a lot about the local market's expectations and preferences with the Promontory which gave us the opportunity to tailor Encore's homes accordingly," Olinger said.
Bosa's sales team did its homework. Within days of the sales launch the project's most exclusive homes with prices reaching $2.5 million were snapped up. In the days that followed dozens of one, two and three bedroom units were purchased with floors 14-through-17 quickly selling out.
Homes at Encore, situated in a 17-storey tower, a five-storey lowrise and a two level row of one bedroom homes between them, range between 620 square foot one bedroom-plus-patio units and 2,100 square foot penthouses. Prices for remaining inventory start at $299,900 for one bedrooms (most featuring Bosa's space-saving BosaSPACE™ ExtenTABLE™ kitchen islands and SleepTHEATRE™ concealed daybed-sofas/guest beds in living rooms) rising to $1.15 million for top-end three bedroom layouts.
A tri-level underground parkade provides space for 201 stalls, 19 of which are earmarked for visitors. While each unit currently includes at least one parking space additional compact stalls are available for $15,000 and full-size stalls are available for $25,000. Electric car chargers can be accommodated at any parking stall for an additional fee.
Building amenities will include a swimming pool and fitness gym, a concierge, a private outdoor space for barbecues and gatherings, a guest suite and an indoor private space.
Construction will begin by the spring of 2016 with completion anticipated by mid-2018. C
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