TORONTO, Nov. 30, 2016 /CNW/ - Fortress Real Developments (Fortress) and Amadon Group are pleased to report that The Wade condominium development is now 40% sold. The Wade, located in Victoria, BC, is planned as a conversion from the Victoria Medical Arts building into a boutique residential condominium project.
The Wade project, named for the original architect of the medical arts building John Howard Wade, will offer 102 units ranging from 366 to 1,220 square feet. The four-storey building will have a central courtyard, complete with its own orchard. Each unit will also be assigned a rooftop garden space where wildflowers, herbs or vegetables will be grown by virtue of a specialized water system for irrigation. "It's a low-rise, European-style community that emphasizes health and wellness in every aspect of the plan," expressed Max Tomaszewski, president of Amadon Group.
On November 5th 2016, a public launch was held at the presentation centre and following a tremendous response; over 30 units were sold on opening day. The Mayor also stopped by the launch event and offered praise to the development team and their vision for this project.
The Victoria housing market has begun to experience the short supply of residential options and projects like The Wade are the perfect fit for the needs of the community. "Reports say that an average home in Victoria is now $750,000 and the average price for a condo has gone up 17% since 2015. With vacancy rates at an all time low, expect more innovative condominium apartment projects like The Wade that appeal to a wide range of buyers," says Ben Myers, SVP of Fortress Real Developments.
With approvals in place and a unique down-payment plan, it is expected that construction on this project will begin in 2017 with a completion date set for the end of 2018.
About The Companies
Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes real estate development opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, commercial and industrial market segments. For more information, visit: http://fortressrealdevelopments.com
Amadon Group combines over three decades of development proficiency with the guiding principles of innovation, sustainability, wellness, and value, Amadon Group delivers profitable and successful real estate. Amadon Group places a particular emphasis on strategically located and environmentally advanced projects that espouse Smart Growth. For more information, visit: http://www.amadongroup.com/
SOURCE Fortress Real Developments
Image with caption: "The Wade - A contemporary condominium project in Victoria, BC. (CNW Group/Fortress Real Developments)". Image available at: http://photos.newswire.ca/images/download/20161130_C8669_PHOTO_EN_828118.jpg
For further information: Natasha Alibhai, Fortress Real Developments Inc., natasha@Fortressrdi.com, Phone: (905) 787-9266 ext. 235