Uptown rise - A Buyers Perspective
Uptown Rise is a collection of 31 strata titled condominiums located in the convenient Quadra area of Saanich East, a suburb of Victoria.
Mike Janes is the Director of Project Marketing and Economist at The Condo Group. He just purchased his first condo at Uptown Rise, and gives his take on the project from the point of view of a condo buyer.
As both a Realtor® and a buyer at Uptown Rise, I have read every document and asked every question about this project. As a result, I have been able to give our clients a first hand look at every aspect of buying a condo at Uptown Rise. You can read more about Uptown Rise at www.uptownrise.com
Below, you will find the questions that I get asked the most about Uptown Rise, as well as the straight, no fluff answers that I give fellow buyers about the project. As a first time home buyer, I have drawn on my own questions and reservations about buying my first home, in the hope that I can shed some light for similar buyers that want to enter the market. Enjoy!
P.S. Don't miss out on the Grand Opening February 12 from 1-5 pm, where we will be giving away a free 40" flat screen TV with every purchase!
What are the prices of remaining units?
How much are similar units renting for in the area?
What do the floor plans look like?
Where is Uptown Rise located? What other amenities are in the area?
I am a first time home buyer. Can I afford to buy here?
Documents and reports on Uptown Rise
What is Uptown Rise?
It’s a collection of 31 one and two bedroom condos, located at 3800 Quadra St. The building was built in 1977, and has looked like this for most of its life.
After a cosmetic upgrade, as well as several repairs to the exterior of the building, it now looks like this
The developer has completely renovated the existing suites to high quality finishings. These include engineered hardwood floors, tiled kitchen and bathroom, granite counter tops, and brand new stainless steel appliances.
Another great aspect of these suites is that they come with a washer/dryer all-in-one unit. While there is still a sizable laundry room in the building, these units allow for in-suite laundry, which is a great bonus.
The condos for sale at Uptown Rise present the best of both worlds. You get the large floor plans of an older building, while you get top of the line finishings inside your unit. With prices starting at $194,900 for the one bedrooms, Uptown Rise is one of the best deals in Victoria.
What are the prices for remaining units?
Click here to view our full price list. The cheapest 2 bedroom unit is $235,900 and the most expensive top floor homes are $274,850.
Are rentals or pets allowed?
Yes and yes! The current bylaws have no restrictions on rentals. This is great news for investors, as well as first time home buyers that appreciate the flexibility of renting their unit out if need be. Pets are also allowed, with the bylaws permitting one dog under 30lbs or one cat. Small caged animals, caged birds, and fish are also welcome.
Ollie getting ready for the move to Uptown Rise
How much are similar units renting for in the area?
Similar 2 bedrooms advertised for rent on craigslist range from $1025-$1425, depending on finishings and pet restrictions. You can search for yourself here.
What do the floor plans look like?
All of the floor plans are available right here. Just consult the Building Floor Plan for the orientation of units, and click on a thumbnail to view an individual plan.
As you can see, these floor plans range from 662 sqft for the 1 bedrooms, to 901 sqft for the 2 bedrooms. These units are very spacious, with nice separation between the kitchen, living areas, bathroom, and bedrooms.
Where is Uptown Rise located? What other amenities are in the area?
One of the biggest draws for people living at Uptown Rise is the convenient location. The building is only 3 minutes from the entrance to the Pat Bay and Trans Canada highways, making it easy to get out to Sidney or Langford. Want to head Downtown? Just follow Quadra St for 5-8 minutes are you are there!
Uptown Rise is under 1.5 km away from two Thrifty Foods locations, 300m from The Keg, 350m from a 24 hour gym, and a 5 minute jog to the spectacular trails at Swan Lake.
Thrifty Foods at Quadra and Cloverdale (900m away)
Thrifty Foods at Quadra and McKenzie (1.5 Km away)
The Keg Steakhouse (300m away)
Beautiful Swan Lake
Another perk is that the building is located right on the bus-route to UVic (Buses #17,18) and Downtown (Bus #6).
Route Map of Bus #6 to UVic and Downtown.
I am a first time home buyer. Can I afford to buy here?
Everyone’s financial situation is unique. We suggest that you shoot a quick e-mail off to Scott Travelbea, who we highly recommend for first time home buyers looking for mortgage financing. For informational purposes, we have drawn up a few examples of the income requirements for buying selected units at Uptown Rise. If your annual household income is over $40,000, there is a good chance you can arrange financing to purchase a unit here*.
View Detailed Breakdowns of Costs here.
*This is not a pre-approval for mortgage financing. Please talk to a qualified mortgage professional, who will determine if you are eligible to receive financing, and the terms and conditions involved.
Who is buying units at Uptown Rise?
Here is a snapshot at some of the recent purchasers at Uptown Rise.
Jasmine Vickers
Jasmine currently is the Operations Manager for the Black Stilt Coffee house on Hillside. She is also finishing her Associates of Science Diploma at Camosun College. She is working towards becoming a Registered Massage Therapist.
What made you decide to buy in Uptown Rise?
I was told of a cool new project that was starting there. I went with my boyfriend to check it out and we really like a few of the units. One thing that was a huge draw was the lack of rental restrictions, as well as the ability to have a dog. We like the fact that it is rentable so that we have some security, and we have been wanting a dog for some time so we decided to go for it!
What is your favourite part of living at Uptown Rise?
I would say my favourite part is the space and layout of the floor plans. Compared to the basement suite we were living in before, this place is practically a mansion! I never thought that my first place would have hardwood floors and granite counter tops.
Is this your first time buying a home?
Yes! I didn’t think I could afford a place at my age but I went and talked to Scott Travelbea about financing and before I knew it, I had my own place! It’s a pretty exciting time for us.
What is the first thing you did when you got in your new place?
We moved in on New Years Eve, so we popped a bottle of champagne and celebrated a great end to 2010.
Jim Mercer
Jim is currently a leading seaman for the Canadian Navy. He is a naval electrician, and is based out of CFB Esquimalt.
Where were you living before you Uptown Rise?
An apartment building.
What made you by at Uptown Rise?
The reason I bought at Uptown Rise is simple. It’s a good deal. I like the fact that there is already equity in my place.
What do you like most about your place?
I like that everything is new. It’s nice to come home and have all new appliances and finishings. The view’s great as well.
Tanya Lovelace
Where were you living before Uptown Rise?
Basement suite in Gordon Head.
What made you by at Uptown Rise?
The price was right! I had been looking around for the past few years and this place had the best potential for equity right off the bat.
What do you like most about your place
That everything is new. The view is really great also.
Are you a first time home buyer?
Yes. I didn’t think I could afford a place, but I talked to Scott Travelbea about financing, and it was definitely within my reach.
Amy Francoeur
Why did you buy at Uptown Rise?
I felt it was a really good investment. Not only that, it came with hardwood floors, granite counters, insuite laundry AND stainless steel appliances. How could I go wrong?!
Where did you live before Uptown Rise?
In an apartment near downtown.
Are you a first time home buyer?
Yes.
What do you like most about your place?
The patio and yard. And the dishwasher!
What was the first thing you did when you got in your new home?
Opened a bottle of champagne!
More Pictures of Uptown Rise
Documents and reports on Uptown Rise
The building has been inspected by a structural, electrical, and mechanical engineer, as well as an architect. Their findings are in several reports available here
Click here to download a copy of our sample contract (pdf)
Click here to download a copy of our floorplans (pdf)
Click here to download a copy of our Elevator Report (pdf)
Click here to download a copy of our Environmental Report (pdf)
Click here to download a copy of our Mechanical Report (pdf)
Click here to download a copy of our Restoration Report Rev Part 1 (pdf)
Click here to download a copy of our Restoration Report Rev Part 2 (pdf)
Click here to download a copy of our Evacuation plans (pdf)
