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Zero-down or interest on deposit, developers of The Wade condo turn heads as sales launch nears

Artist's rendering of The Wade, a 102-unit condo development coming to the 1400-block of Cook Street between Pandora Avenue and Johnson Street. The project's developers, Amadon Group and Westwater Projects, have revealed two unique pre-sale opportunities on the eve of the project's sales launch.  Amadon-Westwater

Zero-down or interest on deposit, developers of The Wade condo turn heads as sales launch nears
MIKE KOZAKOWSKI, CITIFIED.CA

Developers behind an upcoming downtown Victoria condo project have revealed a pre-sale purchase incentive touted as the region’s most competitive …ever.

Partners Amadon Group and Westwater Projects are just days away from the November 5th sales launch of their 102-unit Harris Green project dubbed The Wade, and they’re confident what they have to offer will turn heads.

“We’re presenting something no developer has ever put forward in Victoria,” says Max Tomaszewski, Amadon Group’s president.

“Between our sales launch on November 5th and November 19th, we’re offering first-time buyers the opportunity to secure a home with zero dollars down, which we call Build Your Deposit While We Build Your Home. What this means is first-time buyers won’t need to liquify assets for their deposit and instead can use their cash flow. The second option, which we’re calling Build Your Bank Account While We Build Your Home, will earn buyers a 10% interest rate on their pre-sale deposit.”

Amadon-Westwater’s marketing campaign has thus far focused on The Wade’s unique amenity line-up that includes a rooftop garden and orchard overlooking the intersection of Cook and Johnson streets, an apiary for pollinators, social space for entertaining, even a quiet zen garden five floors above Pandora Avenue.

For the sales launch, however, both Tomaszewski and Westwater’s president David Price were eager to do something different while capitalizing on the excitement their marketing efforts had already generated.

“The Wade’s holistic development concept and our amenity package helped us garner a lot of interest in the project, and with our sales launch, what we aspired to do was convert that interest into a purchasing opportunity inclusive of as many buyers as possible,” said Price, adding that the development duo’s fundamental goal has been to “bridge the gap between home ownership and affordability while staying true to environmentally forward-thinking development practices.”

Long-time residents of the region, Tomaszewski and Price acknowledge that an issue facing younger generations of Victorians has been housing affordability, something they feel the development community must play a role in addressing.

“David and I have lived in this community for many years, its been home for us. We are trying to find a way to make it simpler for young people to stay in Victoria, to be with family and to build their careers. Making it easier for first-time buyers to purchase a new home is just our small way of giving back,” Tomaszewski said.

The Wade’s two deposit offers are described like so:

Build Your Deposit While We Build Your Home: first-time buyers will be able to secure a unit 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 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 deposit route will present 5% down at signing, 5% within 30-to-60 days, and the final 5% when construction begins. The total deposited sum will accrue a 10% interest rate payable upon occupancy.

The project’s unit options are comprised of studio, junior one-bedroom, one-bedroom, junior two-bedroom, two-bedroom, two-bedroom-plus-den, and three-bedroom layouts sized between 366 and 1,220 square feet. Introductory pricing will start at $239,900.

To learn more about The Wade and to connect with the project sales team, call 250-384-2771. The sales centre at #2-1315 Cook Street is open daily noon-5PM, except Fridays. To view The Wade’s sales website, click here. C

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