Quote:
Originally Posted by cairnstone
I'm a wait and see guy with this project. I can't see Beedie getting enough out of the project to develop it. They originally were doing town houses and realized to many people still know its on the Metro Vancouver landfill. With a very active transfer site. Which is not going away but just moving a few blocks further north west. So they built tilt ups.
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When did they want townhomes?
And these are condos. Meaning they think even more people are going to buy into high rises in this dump. Says a lot about the state of the RE market. Even townhomes make a tiny bit of sense in comparison, considering cheap townhomes are harder to come by. And yet the smell and traffic are still problems.
Condos right now are too easy money, I don’t have faith Beedie will give up when they went through all the effort so far, as well as public hearings.
They probably will keep trying to develop it into residential until the area is refined back into industrial. The potential profits are too high. I know this area was dezoned off industrial before the last RGS, meaning this is Coquitlam’s fault.
They can’t redone this off residential until Coquitlam does.
Or maybe Industrial/office lease prices stay high and condo residential falls 30-40%.