[Surrey] Quattro | Four building complex | 4 fl | Completed

[theQ]

Originally Posted by Whalleyboy

future shop was open up on the corner of 102ave and east whalley ring years before that

You're right, I forgot about that...

[Whalleyboy]

no worries it was crappy when it was there anyways lol

[WaxItYourself]

Originally Posted by Whalleyboy

no worries it was crappy when it was there anyways lol

yeah. They couldn't even sell games because they rented the place from Toys'R'Us next door. Part of the deal of them moving in there was that they couldn't sell games.

[Whalleyboy]

I'm surprised that toys r us is still there

[coldboy]

They are moving along very quickly. I drove by Phase 2 and it looks like they have almost all the siding on, windows in .... amazing. The back courtyard looks odd, it looks like they have two levels. Anyone have photos of the back courtyard?

[Whalleyboy]

so i came across this on the quattro site

Quattro developer delays construction on Quattro 3
to finish Quattro 2 ahead of schedule

Surrey, B.C. – (July 14, 2009) – Quattro developer Charan Sethi says home owners will tentatively be able to move into their homes at Quattro 2 by the end of March 2010 – two months ahead of its conservative post-fire construction schedule. To ensure construction will stay ahead of schedule, Sethi says his company has made the difficult decision to delay construction of the third building.

The completion dates for buildings one and two at Quattro were affected after a massive blaze at the development on October 1, 2008. The fire destroyed Quattro 2 and caused some damage to Quattro 1. Both buildings were still under construction at the time.

“We will return all deposits for Quattro 3, with interest, to ensure our purchasers are treated fairly,” explains Sethi. “Our plan is to refine building three and then bring it back to the market next spring. We are committed to building high quality homes and to being a key part of the revitalization of Whalley.”

In April 2009, home owners began moving into their completed homes at Quattro 1, just months after the original targeted completion date. Sethi says they’ve added a variety of new elements at Quattro – from an amenity room in each building with exercise equipment and rubberized sports flooring to enhanced security features in the parkade, such as key-fob access and CCTV system monitoring.

“We have worked hard to deliver a superior quality product as quickly as possible,” says Sethi. “It has definitely been a challenging schedule and we have asked our buyers to be patient. We truly believe home owners will be more than satisfied when they see the quality workmanship that has gone into every one of their homes.”

When launched in 2007, Quattro was Surrey’s largest-ever residential and commercial development and offered some of the most inexpensive, high-end housing in the Lower Mainland. Estimated at $625-million, the development was poised to change the future of Surrey’s Whalley neighbourhood by bringing “Yaletown to Surrey.” Sales at Quattro smashed records with building one selling out in less than four hours and building two selling out in 67 minutes.

http://www.quattroliving.ca/media

[CoryHolmes]

Is this that multi-tower complex on 108th? Or was that another project, 'cuz all I see on their website are the two low-rises.

[twoNeurons]

“We will return all deposits for Quattro 3, with interest, to ensure our purchasers are treated fairly,” explains Sethi. “Our plan is to refine building three and then bring it back to the market next spring. We are committed to building high quality homes and to being a key part of the revitalization of Whalley.”

When did they start selling Phase III? Was it after the downturn? Do they somehow see a possible light at the end of the tunnel and want to take a wait and see approach? Or perhaps, they are worried that they won't sell the remaining units in Phase III as they're expecting a possible impending crash?

Personally, although the project is interesting, it has the smell of snake oil. I know the developer was into selling real estate, which would explain the sales slant, but I don't know if you can trust what's being said.

They sold-out two buildings at high prices (just before the downturn) and have been earning interest on whatever deposits they took for building 3 as well as likely benefiting from lower costs for labour.

It will suck to live across from a dirt pile and a porn store while they decide to build out. Personally, the location doesn't seem that great and being that it's on the other side of King George, is quite some distance away from the Urban Village core that Surrey's building out.

My $.0.02

Originally Posted by CoryHolmes

Is this that multi-tower complex on 108th? Or was that another project, 'cuz all I see on their website are the two low-rises.

Yes, that's the same project. They were going to build all 4 low-rises and then use that money to finance the high-rise. It's a brand new builder, so that was how they planned to build capital. I don't know if/when we'll see that highrise, but it was a nice looking building from the renders.

[osirisboy]

Originally Posted by twoNeurons

When did they start selling Phase III? Was it after the downturn? Do they somehow see a possible light at the end of the tunnel and want to take a wait and see approach? Or perhaps, they are worried that they won't sell the remaining units in Phase III as they're expecting a possible impending crash?

ugh whats with this impending crash. anyway, its more like the developers want to wait till the spring so they can sell them for more than what they can now.

[twoNeurons]

Originally Posted by osirisboy

ugh whats with this impending crash. anyway, its more like the developers want to wait till the spring so they can sell them for more than what they can now.

Well, it looks like they didn't sell out the 3rd phase. The way it's worded, "we wanted to finish phase II on time, so we put phase III on hold" sounds like a bunch of BS. There is no shortage of trades right now. They could easily do both and keep Phase II on time.

It's not that there's GOING to be an impending crash, it's that anything could happen. This spring could've been a dead cat bounce or a sign of recovery. We really don't know yet and if they likely haven't pre-sold a high enough % of units in Phase III. Remember, many still feel that Vancouver's housing prices are still out of whack with fundamentals.

This is about reducing risk for the builder, not about finishing on time. Developers don't just give back deposits for a reason like this. Basically, they're not sure if they're going to put phase III on hold or not because they didn't pre-sell enough units to mitigate risk. So, they're taking a wait and see approach. They made enough money on the first two phases. They're playing it safe.

Having the remaining Phase III units compete with similarly priced Phase II units might also be a concern. There were quite a few first time flippers that bought those units too (because they were so cheap). The builder doesn't want to cast a shadow on the development by saying that maybe pre-sales didn't meet expectations and they don't want to say it's because of the uncertainty of the economy... so they spin it in a positive way and wait for the O-games to be over and decide then.

[Pinion]

I'm curious what the latest is from this development? Have they changed the name to Dos?

[Whalleyboy]

the orginally stop doing the third one to finish the second one again
and now there likely waiting till after the olympics/winterish time to continue with the rest

[Whalleyboy]

okay got some updates from recent council meeting
for the third building they are looking to add another floor and increase the amount of room

found it from here
http://surrey.fileprosite.com/FileSt...09-0222-00.pdf

Building Design
 Recently, the Provincial Government amended the BC Building Code to permit the construction of six-storey wood-frame buildings. Prior to the Building Code amendments, wood-frame buildings were limited to 4 storeys in height.
 The proposed Quattro Building D will be constructed as a wood-frame building and will be 5 storeys in height. Building D will be Surrey’s first wood-frame structure over 4 storeys in height.
 However, as the subject site slopes significantly from east to west, the western side of the building facing Whalley Boulevard will actually be 6 storeys in height, due to this elevation difference.
 The façade of the proposed building has been redesigned with cleaner and straighter lines, creating a more urban look. Direct access from the sidewalk to the ground-floor units along 108 Avenue has also been added to enhance the urban look of the façade even further.
 As with the original design for Building D, the ground floor of the building along Whalley Boulevard will be clad in medium-brown coloured brick veneer. In keeping with the original design, and to be consistent with the existing two buildings in the Quattro complex, the rest of the building will be clad in hardi-panel and hardi-plank siding.
 The building will be clad in two colour palettes of siding; either cream, tan and taupe or light and dark grey. Trim features will be coloured white, while railings will be black-coloured metal.

[whalley13]

Anybody know if the project directly to the east of Quattro is going to start up anytime soon? The Quattro guys own the property to the west of Quattro as well, they shoud tear down the body rub/porn shop place...even tho they are paying rent, its gonna be hard to sell new flats in the project with the shop across the street

[WarrenC12]

Are Phase 1 and 2 of Quattro occupied yet? It may sound like a dumb question but I haven't driven by in ages, just curious as to the status of this area.

[whalley13]

the website has been updated asking for anyone to preregister, should be an interesting to see if they can have high presales like the other two phases did....I think they are gonna have a tougher time for the third phase as nothing has materialised in the surrounding area and the flipping craze has died off somewhat

[whalley13]

There was a good article in BC BUSINESS magasine about Central City area, and the efforts the mayor was making....the magasine described the area as a 'work in progress'

There was an in depth look at Charan SETHI and his quattro project listing it as one of its hot properties coming this year...hopefully this article generates good buzz for the developement and helps with pre sales

[red-paladin]

The website's rendering for the new phase has 5 floors: http://quattroliving.ca/

We need to update the thread's details.

[Whalleyboy]

its the same one its always been thats how the building looks now
the new one is gonna look like 6 floors where the retail is

[CoryHolmes]

Originally Posted by whalley13

the magasine described the area as a 'work in progress'

That's putting it nicely. The way I prefer to think of it is that Dianne Watts is playing SimCity, but in real life. I don't know if I envy her that job or not