General rating of project

  • Great

    Votes: 4 10.0%

  • Very good

    Votes: 24 60.0%

  • Good

    Votes: 10 25.0%

  • Not so good

    Votes: 1 2.5%

  • Terrible

    Votes: 1 2.5%
  • Total voters
    40
potatopizzafan said:
I wouldn't base any kind of prediction off an article from Richard While....
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No. The prediction is based on the assessments that Vancouver based developers have shared with him. Those assessments are consistent with what I have been hearing from other sources in the multi-family industry. The hi-rise condo market is dead. The only way it is going to come back to life is
1. There is a turn-around in the economy and there is a massive influx of professional jobs in downtown.. likely led again by oil & gas but supplemented by a small but burgeoning tech industry.
2. Boomers followed by Gen Xers' see downtown condo living as attractive and viable, and are motivated to downsize. The acid test for that is right now. Never has the gap between the selling price of a single family home (market is hot) and purchasing a condo downtown, ever been greater.
 
I also think one of the problems is that there are no major new condo projects marketing right now. Theodore is probably the only one, and it is 75% sold. Nude stopped marketing its units last year, Era was bought up by foreign investors, and Annex isn't advertising how many are left.
 
I was hoping this would be the rumoured project that’s going ahead. It would be so nice to see that corner developed into something.
 
There was a rumour about one of the big projects in this area starting up earlier this year. Perhaps this is it?
 
The DP is still waiting on approval. What likely occurred is when the project went stale, the developer didn't bother finishing his review process. Might not take much, but this one will still likely have to go to CPC. I guess we will see if there is any real action if it appears on one of the agendas in the next few months.
 
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