[Prometheus]

And yes, they were approved. Given that this is a huge development being done on the edge of our CBD by a large telecommunications company, and that it will act as the HQ, i think such screens / lighting features are very well justified and to be expected.

There are lots of things in this city which are justified and expected but nevertheless are prevented from existing.

Anyways, where did you hear that the screens had been approved?

[Prometheus]

This is an excerpt taken from the policy report on Sept 13, 2011. It shows the city is supportive of the screens subject to a sign by-law amendment along with a public hearing. I don't think this has happened.

This is my understanding too.

[Built Form]

The public hearing was held Oct. 18, 2011 to be enacted officially by council this Tues. March 27th. If I read it correctly what will be passed is a by-law exempting the site from Sign By-law 6510. Is that correct Metro? You got to do a little digging but here are the links.

http://vancouver.ca/ctyclerk/cclerk/20120327/regu20120327ag.htm

http://vancouver.ca/ctyclerk/cclerk/20120327/documents/bylaws1-13.pdf

[WarrenC12]

So the residential tower is on the corner of Robson and Richards, correct?

[dreambrother808]

Is the White Spot going to be at the northwest corner, where the patio seating is?

[phesto]

Thanks for the pics of the model.

Overall it looks good, but kinda underwhelming and dull at the same time.

[officedweller]

Thanks for the pics!

There's something about this that I'm not too fond of. I can't pinpoint what. But I guess there's too much blank wall or maybe it's how the upper floors are drastically recessed from the floors below (similar to Capital's large boxy floorplate abruptly ends and becomes one one that is smaller and circular).

That recessed corner is required to comply with the view cone.

*****

Comments:

Are they recladding the existing Telus Buiding? It's currently green, but it is shown a drab gray on the model.

The model also shows the existing precast north facade of the existng Telus Building sitting behind the new horizontal wing. I would have expected that side to have been opened up.

The curtain wall on the new Telus Building looks as drab as the one on the Shaw Tower.

I expect that the north and south sides of the condo tower may look awful with their spandrel panels - would have been nicer if the wood look had been wrapped partially around the sides to fill the box.

http://i45.photobucket.com/albums/f58/hirtus1/P1060308.jpg

[hollywoodnorth]

Is the White Spot going to be at the northwest corner, where the patio seating is?

maybe the downstairs "Lounge" space is the WHITE SPOT SPACE?

[187 Feet Tall]

So the residential tower is on the corner of Robson and Richards, correct?
correct

[osirisboy]

Was at the open house today and they expect it to be 90% pre-sold at days end. Quite a few people where complaining openly about all the one bedrooms being sold to employees. The lowest price available when I got there was $900,000. Will post pictures next entry.

thanks for the update, do you know how well the signature suites/penthouses have sold?

[187 Feet Tall]

thanks for the update, do you know how well the signature suites/penthouses have sold?
All sold

[osirisboy]

So Im watching 30 rock tonight and one of the commercials during it was for telus garden. They had that video from their website saying coming spring 2012 and asking people to register. My question is wtf? This thing is basically sold out so what are they doing? they are just going to piss people off, come register for a project that's basically sold out???

[GeeCee]

So Im watching 30 rock tonight and one of the commercials during it was for telus garden. They had that video from their website saying coming spring 2012 and asking people to register. My question is wtf? This thing is basically sold out so what are they doing? they are just going to piss people off, come register for a project that's basically sold out???

The time is likely already paid for.

[osirisboy]

Ah. Perhaps. Still they could still add something about it being basically sold out.

[SFUVancouver]

I could see Westbank giving an early crack at 1400 Howe to all those people who registered for Telus Garden but missed out due to the huge uptake of pre-pre-sales to Telus staff and brass.

[Jimbo604]

http://i1072.photobucket.com/albums/w376/jimbo604/Thr%20Mar%2029%202012/IMG_1508.jpg


http://i1072.photobucket.com/albums/w376/jimbo604/Thr%20Mar%2029%202012/IMG_1509.jpg?t=1333513235
photo credit: me

It is all demolished now. Workers just grinding up the remaining concrete chunks.
Demo-prep work continues at the former White Spot location across the alley.

[Metro-One]

i didn't know there were palm trees in there! hehe, hope they keep them or re-plan them somewhere ;)

[osirisboy]

whats going on with the hotel Kingston proposal that was floating around here awhile back? the above pics really show how dinky that one story section is.

[osirisboy]

Final sales today at noon, prices start at 769,900. And Apparently there are still signature suites available.
I cut/pasted the email:

Your Final Opportunity to Own is Tomorrow!
Saturday March 31, 12pm Sharp
Dear Mark,

Your final opportunity to own a home at TELUS Garden is tomorrow. Interest has been extremely high, but we remind you that we still have a wide selection of floor plans available. You won't want to miss your opportunity to own a home at the iconic TELUS Garden. Sales begin tomorrow Saturday, March 31. Doors open at 12pm sharp.

As a reminder, please find below a sample of the higher floor homes that will be available Saturday, starting from $769,900. Homes are on higher floors and will afford some of Downtown Vancouver's most stunning views.

Home Type
Plan Type
Size (sq ft)
2 Bedroom + flex
E - click to download
883 sq ft
2 Bedroom + flex
J - click to download
880 sq ft
2 Bedroom + flex R - click to download 1,080 sq ft
2 Bedroom + flex S - click to download 844 sq ft
2 Bedroom + flex Q - click to download
900 sq ft
2 Bedroom + Family Room
+ flex W - click to download 1,112 sq ft
3 Bedroom + flex N - click to download 1,173 sq ft
3 Bedroom + flex P1 - click to download 1,355 sq ft
3 Bedroom + flex
P - click to download
1,355 sq ft
3 Bedroom + flex
V1 - click to download
1,132 sq ft
Signature Suites starting from $1,899,900


In advance of tomorrow's sales event, please review the following steps to prepare for your purchase opportunity.

Steps to Own
1. Decision makers: Please ensure all decision makers are present.

2. Offers: No conditional offers will be accepted.

3. Select: We advise you choose your top home selections in advance of this final purchase opportunity. Due to the high interest in this project, we encourage you to make several home selection options in order to avoid disappointment.

4. Deposit: Please be prepared to present a bank draft for $20,000 payable to "Kornfeld Mackoff Silber LLP in trust".

5. Arrival: Please use our entrance at 768 Seymour Street. Doors open today at 12pm sharp and sales will be on a first-come, first-served basis.

We look forward to seeing you tomorrow.

Warm regards,
TELUS Garden team
604.695.6800

[Yume-sama]

It's interesting pre-sales are selling so fast when the existing market just... isn't moving at all.

[s211]

It's interesting pre-sales are selling so fast when the existing market just... isn't moving at all.

Very good observation. Sales of existing units are way off, but there's still enough to keep prices propped up.

[Yume-sama]

Very good observation. Sales of existing units are way off, but there's still enough to keep prices propped up.

Indeed, trying to sell a condo for over $1 million in Vancouver right now is damn near impossible.

But, everyone is lining up to pay what looks to be an inflated price by current market conditions for pre-sales. I'm slightly puzzled!

In reality the current market price is near or below $1000 a square foot now for the higher end.

[SFUVancouver]

Telus has sold out the first condo development it has ever built, before a planned formal launch in mid-April, making it the second large Vancouver project to sell out almost instantly in the past month.

[snip]

Telus has also been successful in nailing down a first tenant for the office component of the Telus Gardens project. The law firm of Bull, Housser and Tupper has committed as a tenant. That means 70 per cent of the office space, which will include Telus’s head office, is now leased.

Ms. Goertz said the company is negotiating with several other interested tenants and will be releasing details about those leases shortly.

http://www.theglobeandmail.com/news/national/british-columbia/teluss-vancouver-condos-fly-off-the-market/article2388764/

[twoNeurons]

Indeed, trying to sell a condo for over $1 million in Vancouver right now is damn near impossible.

But, everyone is lining up to pay what looks to be an inflated price by current market conditions for pre-sales. I'm slightly puzzled!

In reality the current market price is near or below $1000 a square foot now for the higher end.

Deferred risk? I guess if people think we're near a peak, they think buying into a condo that will complete 3 years from now is less risk. After all, it's easier to walk away from a $20,000 deposit than to lose a greater sum ($50,000?) if they're forced to sell. I don't know the legal ramifications of walking away though.

That's totally just conjecture, but it's one possibility.

Alternatively, if it's mostly investors/flippers, people don't want to buy something that they can't sell right now, but they feel that the market will keep going up and up... so want a piece of something that may be worth more down the road.

Then there are people who buy into marketing and hype and will buy because they perceive the area/building will be desirable and out of their league if they wait.

Just my $0.02

[Hed Kandi]

Telus has sold out the first condo development it has ever built, before a planned formal launch in mid-April, making it the second large Vancouver project to sell out almost instantly in the past month.



If this turns out to be a highly profitable investment for Telus, I'm guessing that this won't be the last we see of the company's venture into residential property development.

[WarrenC12]

Deferred risk? I guess if people think we're near a peak, they think buying into a condo that will complete 3 years from now is less risk. After all, it's easier to walk away from a $20,000 deposit than to lose a greater sum ($50,000?) if they're forced to sell. I don't know the legal ramifications of walking away though.

That's totally just conjecture, but it's one possibility.

Deposits are 25% over the next 18 months for Telus. Ya in 3 years prices could be lower/flat, or interest rates higher, meaning you actually couldn't qualify for a loan that a bank would give you today. To me there were too many negative risk factors, so I didn't bite for the opposite reasons.

Vs. the risk of buying from somebody reselling when they are complete. There's a risk the price is higher (would be at then-current market level), but that's it.

[red-paladin]

Does anyone know what the plans will be for 'the boot' after they move the HQ to Telus Garden?

[phesto]

If this turns out to be a highly profitable investment for Telus, I'm guessing that this won't be the last we see of the company's venture into residential property development.

Telus is a partner on this project, but Westbank is the developer.

[s211]

Does anyone know what the plans will be for 'the boot' after they move the HQ to Telus Garden?

Telus has already moved lots of bodies out, apparently. A bunch of their space is on the sublease market.

As an aside, Telus doesn't own the boot, but you probably already know that.

[Hed Kandi]

Telus is a partner on this project, but Westbank is the developer.

Ahhh...That makes sense.

[skymaster]

http://i990.photobucket.com/albums/af28/Hongkongese/downtown/6254a.jpg

[flight_from_kamakura]

ugly and absurd as anything can be.

[dreambrother808]

I have a lot of faith that the finished product will actually be quite nice. Yes, the design looks rather busy on the small scale of pictures and models but once life-sized it will seem less so. I quite like the renders on the on-site hoarding.

[itinerant]

The more I see of it, the worse it looks. This rendering in particular. I would have liked it better if the designers had stuck with one idea and expressed it with more consistency throughout. But as time goes by, the skyboxes, rooftop fins, undulating canopy, all seem to be morphing into some big, mundane tradeshow booth in Telus' corporate colours.

[Hed Kandi]

ugly and absurd as anything can be.

:d

[trofirhen]

ugly and absurd as anything can be.
:previous::previous:
Yeah, above all that irregular, boxy, condo tower (two sides of it anyway) plus all the "special FX" on Georgia St.

The more I see of it, the worse it looks. This rendering in particular. I would have liked it better if the designers had stuck with one idea and expressed it with more consistency throughout. But as time goes by, the skyboxes, rooftop fins, undulating canopy, all seem to be morphing into some big, mundane tradeshow booth in Telus' corporate colours.
:previous::previous:

haha .... how unfortunately true ....

[Prometheus]

If the giant LED projection screen is not going to wrap around and fill the entire skybox (as it should), then they should at least centre the screen perfectly between the southern border and northwest corner of the box.

[officedweller]

The more I see of it, the worse it looks. This rendering in particular. I would have liked it better if the designers had stuck with one idea and expressed it with more consistency throughout. But as time goes by, the skyboxes, rooftop fins, undulating canopy, all seem to be morphing into some big, mundane tradeshow booth in Telus' corporate colours.

True (as I sit here in TD Tower - the polar opposite - which over the years has itself been morphed away from clean design).

WRT colours - hoping for Telus colours - rather than gray, gray, gray like Shaw Tower.

[twoNeurons]

ugly and absurd as anything can be.

New and unique architecture is rarely liked, especially universally.

[Jimbo604]

Will all this development in this block spur something to happen across the street (SE corner of Richards and Georgia)? A prime location, however, it is currently currently occupied by a low-density car rental office and its associated surface parking lot? Hopefully.

Google Street View of site (http://maps.google.ca/maps?q=georgia+and+seymour,+vancouver,+bc&hl=en&ll=49.280845,-123.115668&spn=0.00295,0.008256&sll=49.891235,-97.15369&sspn=48.063384,135.263672&hnear=W+Georgia+St+%26+Seymour+St,+Vancouver,+Greater+Vancouver+Regional+District,+British+Columbia&t=m&z=18&layer=c&cbll=49.281168,-123.116068&panoid=4iOwIoQOo8xYCWYS1fYcDg&cbp=12,182.48,,0,-4.15)

[PaperTiger]

http://i990.photobucket.com/albums/af28/Hongkongese/downtown/6254a.jpg


This rendering is super saturated and the contrast is amped way up. I don't think it is an accurate reflection of how the building will look as a lot of the details that jump out at you would only really be noticeable if you were up close and really paying attention.

I appreciate what people are saying about the disparate elements, but I think you have to recognize that the scale of the development warrants that the massing be broken up in to unique components. Think Woodward’s. It has a similar scale.

[jlousa]

There is a office tower proposed for the parking lot/car rental. Don't think we'll hear much about it for a couple more years though.
I'm not at all concerned about the Telus project, the ground level is going to make the project.:tup:

[red-paladin]

There is a office tower proposed for the parking lot/car rental....

:cheers:

[SpongeG]

edit: oops wrong corner

[EdinVan]

True (as I sit here in TD Tower - the polar opposite - which over the years has itself been morphed away from clean design).

Out of curiosity, how so? The new lobby? The glass?

[Jimbo604]

http://i1072.photobucket.com/albums/w376/jimbo604/Mon%20Apr%2016%20-%202012/IMG_1521.jpg
Photo credit: me

Excavator on-site today, started demolition of the old White Spot building, going in from the lane between Seymour and Richards streets.

[osirisboy]

anyone know when they plan on closing and demolishing the other parkade? I was hoping it wouldve started by now...

[officedweller]

Pic by me today - replacing the alley hydro poles:

http://img818.imageshack.us/img818/356/img2012041600448.th.jpg (http://imageshack.us/photo/my-images/818/img2012041600448.jpg/)

For some reason this image uploads sideways ... even though the original is vertical.

[Bankview]

This will be interesting to observe as it rises, I've spent so much time walking in that area of the city - the contrast is going to be visibly noticeable. :D

-clap clap-

[officedweller]

Yeah, 10 years ago you wouldn't have thought that the surface parking lots and garages along Robson would be gone.
(i.e. L'Aria and L'Hermitage were surface lots; and now the Telus parkade will go)

[Jimbo604]

anyone know when they plan on closing and demolishing the other parkade? I was hoping it wouldve started by now...

Construction guy onsite said "June" for the other parkade (Richards and Robson).

[jlousa]

That's correct, demo of the Robson st parkade will be June.

[Built Form]

Hoarding going up today around the Robson parkade.
Demolition of the White Spot wing is almost complete.

http://i45.photobucket.com/albums/f58/hirtus1/P1060543.jpg

http://i45.photobucket.com/albums/f58/hirtus1/P1060544.jpg
pix by Built Form

[officedweller]

Thanks.
They has some construction fencing on Robson for a while because concrete chunks were falling off the parkade - before demolition - so the sooner the hoarding goes up - the better.

[Homeowner]

Still getting emails that 2-3 bedrooms available. Seems like some of the purchasers have decided to cancel on their contracts. Too bad there aren't any 1 bedrooms available. Those are the great investments.

[jsbertram]

Some news articles this week were saying that Vancouver's condo market 'has cooled' when comparing spring 2012 vs spring 2011 numbers.

[Hed Kandi]

Some news articles this week were saying that Vancouver's condo market 'has cooled' when comparing spring 2012 vs spring 2011 numbers.

Residential property development may be slower than the previous year but the commercial office development sector is charging forward faster than I've seen it in over a decade.

[whatnext]

Hey Vancouver Sun, TELUS GARDEN DID NOT SELL OUT !!! (http://www.youtube.com/watch?v=n-GaWa6YNbs)

Local realtor calls bullshit on the marketing hype.

[jlousa]

Believe what you like but it did sell out and continues to be sold out, there have been units that have popped up and will continue to be units that pop up.

[GeeCee]

Hey Vancouver Sun, TELUS GARDEN DID NOT SELL OUT !!! (http://www.youtube.com/watch?v=n-GaWa6YNbs)

Local realtor calls bullshit on the marketing hype.

Leave it to whatnext to go negative and nitpick on useless information. It WAS sold out at the time it was reported.

[whatnext]

Leave it to whatnext to go negative and nitpick on useless information. It WAS sold out at the time it was reported.

Sorry to rain on your little developer-driven hype bubble. As it pointed out "sold out" for a week isn't really sold out.

[Echowinds]

If 100 people signed up for 100 units, it is sold out, because any new buyers wouldn't have any more units available for purchase. The Vancouver Sun reported that, and I am sure there's a law that allows buyers to rescind in a certain period of time.

So I guess every sold out building wouldn't be sold out because there's always someone backing off or flipping their spot.

[Chadillaccc]

So does that mean this is going through sooner than later?

[GeeCee]

I don't think that there's any doubt that this won't go through at this point. They're currently excavating the site I believe?

[Jimbo604]

http://i1072.photobucket.com/albums/w376/jimbo604/2012-05-22%20Tue%20May/IMG_1659.jpg
Former White Spot site at SE corner of Georgia and Seymour streets. Demo complete.

http://i1072.photobucket.com/albums/w376/jimbo604/2012-05-22%20Tue%20May/IMG_1658.jpg

http://i1072.photobucket.com/albums/w376/jimbo604/2012-05-22%20Tue%20May/IMG_1657.jpg
Some excavation and removing of foundation walls of former parking lot at SW corner Georgia and Richards streets.

http://i1072.photobucket.com/albums/w376/jimbo604/2012-05-22%20Tue%20May/IMG_1656.jpg
This sign has been posted on remaining parkade at NW corner of Robson and Richards streets. Confirms earlier posts in this thread that demolition of this structure won't start until at least June.

Photo credit: me

[187 Feet Tall]

Who cares if it's 100% sold out?
If it's 98% sold out in the opening week, with only very high price points remaining is that really any different?

[Chadillaccc]

So this can be officially marked as UC on this page and the building page.

[GeeCee]

So this can be officially marked as UC on this page and the building page.

As far as I know, the golden rule here is that a project can be considered to be officially Under Construction once demolition and excavation are complete, and the actual construction begins.

[Built Form]

Other parked closed and prepping for demolition.

http://i45.photobucket.com/albums/f58/hirtus1/P1070252.jpg
pic by Built Form

[Built Form]

http://i45.photobucket.com/albums/f58/hirtus1/P1070351.jpg
pic by Built Form

[WarrenC12]

Look like a slow process on that parking garage demolition.

Does any of the concrete or rebar get recycled from something like this?

[djh]

Can you imagine how much fun it must be sleeping in the Kingston Hotel around about now? All those tourists who thought they'd found the motherlode when they saw how cheap the rooms were going for a downtown hotel, so they booked themselves in for the Whole Summer - Yay!!!


Er...

[Jimbo604]

http://i1072.photobucket.com/albums/w376/jimbo604/2012-06-27%20Wed%20Jun/IMG_1675.jpg
Georgia and Seymour site, former Whitespot

http://i1072.photobucket.com/albums/w376/jimbo604/2012-06-27%20Wed%20Jun/IMG_1677.jpg
Georgia and Richards site looking south with Kingston cinder block in background

http://i1072.photobucket.com/albums/w376/jimbo604/2012-06-27%20Wed%20Jun/IMG_1679.jpg
Georgia and Richards site looking north. One of the few excavations to use a bulldozer, possibly speeding up digging rate.
Photo credit: me

[officedweller]

Pic by me yesterday of the Robson side parkade demolition:

http://img825.imageshack.us/img825/8392/img2012070900523.jpg (http://imageshack.us/photo/my-images/825/img2012070900523.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

[officedweller]

Another demolition update - pic by me today:

http://img703.imageshack.us/img703/9784/img2012071200524.jpg (http://imageshack.us/photo/my-images/703/img2012071200524.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

[Jimbo604]

http://i1072.photobucket.com/albums/w376/jimbo604/2012-07-20%20Fri%20Jul/IMG_1726.jpg
Photo credit: me

Robson St and Richards St parkade is almost demolished.

[osirisboy]

i walked by this evening and it seems to be all demolished now

[Built Form]

^Yeah it's gone. In one week they did a lot of work.

Thursday...
http://i45.photobucket.com/albums/f58/hirtus1/P1080251.jpg

Friday...
http://i45.photobucket.com/albums/f58/hirtus1/P1080274.jpg
pix by Built Form

[Built Form]

They've constructed a temporary bridge to support utilities while the office portion rises.

http://i45.photobucket.com/albums/f58/hirtus1/P1080653.jpg

http://i45.photobucket.com/albums/f58/hirtus1/P1080661.jpg
pix by Built Form

[officedweller]

Thanks - I was wondering what that was for.

[Chadillaccc]

So exciting! this is going to be one of the coolest developments/redevelopments in Western Canadian history.

[nova9]

While I was careening through downtown last night, I sped by and thought I saw some type of light installation on the existing Telus building, I think on the seymour side. Has anyone else seen this and perhaps have a picture? Or was I seeing things? hehe.

[Built Form]

^Your right, they added some lighting above the Telus Garden presentation centre entrance on Seymour last month. I only have a daytime pic but you can see the white tubing.

http://i45.photobucket.com/albums/f58/hirtus1/P1070275.jpg
pic by Built Form

[officedweller]

Its just white neon flowers at night.

[s211]

So exciting! this is going to be one of the coolest developments/redevelopments in Western Canadian history.

And how do arrive at that conclusion?

Or is it that your definition of Eastern Canada, like most other Vancouverites, is everything east of Main Street?

[trofirhen]

Its just white neon flowers at night.

Well, it's better than nothing.

[NewfBC]

And how do arrive at that conclusion?

Or is it that your definition of Eastern Canada, like most other Vancouverites, is everything east of Main Street?

Bugs me when people think Ontario is Eastern Canada.. um.. what the heck is Newfoundland? :)

Ron.

[mr.x]

Bugs me when people think Ontario is Eastern Canada.. um.. what the heck is Newfoundland? :)

Ron.

I see anything west of Manitoba as Western Canada, and everything east of Manitoba as Eastern Canada. Ontario is certainly not the geographic centre of Canada, although historical implications may call it "central."

[trofirhen]

Bugs me when people think Ontario is Eastern Canada.. um.. what the heck is Newfoundland? :)

Ron.

I see anything west of Manitoba as Western Canada, and everything east of Manitoba as Eastern Canada. Ontario is certainly not the geographic centre of Canada, although historical implications may call it "central."
:previous:

Regarding your posts, what I sense is that you are looking at Canada from a Visual, cartographic/geographic perspective.

While this is certainly to be taken into the equation, the other half is population density. Where do most of the people live? Where is the capital city? Where are the largest and most important economic urban agglomerations? We all know the answers to those.

Anyway, that "distorts" the geographic map somewhat and pulls the country inwards around Toronto, Ottawa, and Montreal.

[casper]

:previous:

Regarding your posts, what I sense is that you are looking at Canada from a Visual, cartographic/geographic perspective.

While this is certainly to be taken into the equation, the other half is population density. Where do most of the people live? Where is the capital city? Where are the largest and most important economic urban agglomerations? We all know the answers to those.

Anyway, that "distorts" the geographic map somewhat and pulls the country inwards around Toronto, Ottawa, and Montreal.

If anything it "distorts" the population centre of the country quite far south from the geographic centre. It puts the largest city in the country farther south of where the Canada/US boarder is in the rest of the country. For better or worst Canada does not have a uniformed population distribution.

Having lived in both Manitoba, BC, Saskatchewan and northern Ontario, I find there is a certain Western culture that exists on the prairies. BC is a little different in that is very much a cross between that western culture and a very pacific rim focus.

All said, not certain what it has to do with this new office building for Telus. Telus is certainly a western company that is finally getting a nice looking building in downtown Vancouver. That said, I really liked the look of the building on Boundary and Kingsway.

[jlousa]

Agreed, lets keep this thread on topic.

[red_lantern]

Beautiful building - great architecture, great layouts, great views, great marketing, fantastic hype and media attention. They sure got the buyers out to snap up the units at crazy high prices. Now fast forward two months and those same pre-sale buyers are now scratching their heads to see their value decrease as the market takes a turn south. Lucky that they didn't allow any assignments so lets see once it's built as we watch to see who sells quickly and gets out as soon as they can before the market totally tanks.

[Alex Mackinnon]

All said, not certain what it has to do with this new office building for Telus. Telus is certainly a western company that is finally getting a nice looking building in downtown Vancouver. That said, I really liked the look of the building on Boundary and Kingsway.

They call the side on Kingsway "the Boot" and the part on Boundary "the Slipper." I've always liked that. :haha:

[WarrenC12]

Beautiful building - great architecture, great layouts, great views, great marketing, fantastic hype and media attention. They sure got the buyers out to snap up the units at crazy high prices. Now fast forward two months and those same pre-sale buyers are now scratching their heads to see their value decrease as the market takes a turn south. Lucky that they didn't allow any assignments so lets see once it's built as we watch to see who sells quickly and gets out as soon as they can before the market totally tanks.

Can't people default during the process if they don't pay the scheduled deposit amounts on their due dates? We may see some come back on the market as "re-pre-sales"...

Regardless of the market direction, Telus Garden looks like a much better buy than Marine Gateway, which was selling for a similar price.

[Jimbo604]

^Your right, they added some lighting above the Telus Garden presentation centre entrance on Seymour last month. I only have a daytime pic but you can see the white tubing.

http://i45.photobucket.com/albums/f58/hirtus1/P1070275.jpg
pic by Built Form

Maybe they wanted to do something on the west side of the "Telus block" on Seymour street as there wasn't much excitement happening there compared to the north (Georgia St), east (Richards) or south side (Robson).

[red_lantern]

Can't people default during the process if they don't pay the scheduled deposit amounts on their due dates? We may see some come back on the market as "re-pre-sales"...

Regardless of the market direction, Telus Garden looks like a much better buy than Marine Gateway, which was selling for a similar price.


The developer may have more coming to market once again if the buyer decides to default since they can't be sold as assignments the purchaser would have to think about either defaulting on their deposit and losing it or perhaps selling at a lower price once the occupancy is completed later on.

[osirisboy]

red lantern, how do you know people are scratching their heads and wanting out of their deals? or are you just pulling this out of your ass?

[Jebby]

red lantern, how do you know people are scratching their heads and wanting out of their deals? or are you just pulling this out of your ass?

I was wondering the same thing...

[jsbertram]

Maybe they wanted to do something on the west side of the "Telus block" on Seymour street as there wasn't much excitement happening there compared to the north (Georgia St), east (Richards) or south side (Robson).

Of maybe they wanted some way to say "You've found the pre-sales centre for Telus Garden."

[red_lantern]

red lantern, how do you know people are scratching their heads and wanting out of their deals? or are you just pulling this out of your ass?

No the only thing i"m pulling out of my ass is from the vietnamese restaurant nearby on Seymour...eww don't ever eat there.

Anyway, I know a few neighbours that bought there (asian investors) and they are wanting to get out because the market has shifted and they told me that they would have to lose their deposit or wait it out and sell later on (but come on, they won't get more than what they paid later I'm pretty sure of that with all the glut of condos on the market)...just saying.