Remember a few weeks back when the Marine Gateway Condo/Office project sold out within 4 hours of the sales centre opening? People were lining up days before to purchase a unit for that project. Fast forward a few weeks and the Telus Garden residential tower has also sold out. This is before a planned formal sales launch in mid-April. I supposed the the real estate madness continues. For many this doesn’t make sense. How can people justify purchasing at these perceived sky high prices? For others, they realize it’s all about location, location, location and Telus Garden is located in the centre of downtown Vancouver, that’s all they need to know. Accessibility to transit and Vancouver being so desirable for both locals and foreign investors alike is what is keeping the market held up so high. The same scenario is not playing out in the valley, however, it will be interesting to see how the largest tower outside of Vancouver does when it goes on sale in the heart of Whalley.
Furthermore, the units were first offered to Telus employees and many ended up putting down a deposit on a unit.
It doesn’t hurt that Westbank is behind this project. They are one of the most reputable developers in the city. They are also behind the architecturally stunning BIG tower at the foot of Granville Street bridge.
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