Mayfair District’s Tresah condo pre-sale unveils lowest downpayment option in Victoria; 179-unit tower to complete in 2024

Posted :
September 5, 2023
Posted :

Read the full article on Citified!

Midtown’s newest condominium project is making good progress between Speed Street and Frances Avenue opposite Douglas Street’s Mayfair Shopping Centre, with its first phase nearing occupancy in September.

Tresah – from Victoria-based developer Mike Geric Construction (MGC) – will complete its six-storey Tresah East component in the coming days, while Tresah’s 12-storey Tresah West counterpart (see website) is on-track for completion by summer of next year.

Now launching a Tresah fall sales campaign, Mike Geric Construction is offering a market-leading $10,000 deposit on any home at Tresah West where 70% of the 179 suites have already sold. Prices for remaining one-to-two-bedroom condominiums, townhomes and penthouses start at $399,000.

“Momentum is really growing as Tresah East owners begin moving into their new homes in the coming weeks. With this in mind, we wanted to build on this by offering anyone who may be interested in calling this unique Midtown neighbourhood home the opportunity to do so with only $10,000 down, and no additional payment top-ups or commitments ahead of project completion in mid-2024,” says MGC head and developer Ed Geric, adding that “we’re also including a strata fee reimbursement for an entire year.”

At a $10,000 downpayment, irrespective of unit price and size, along with developer-paid strata fees for an entire year, MGC’s fall sales campaign could be the Capital’s most attainable and comprehensive pre-sale program yet, totaling a low single digit percentage of total home value for the down payment, and a strata fee savings that starts at approximately $2,400 for the year, and rises considerably for larger units.

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