Quote:
Originally Posted by jasonpark
I don't think you understand the appeal, which is okay. Maybe the project is not appealing to you because there are other demographics this project will appeal to.
I can only speak from experience, but most Korean people will MUCH rather live anywhere in Coquitlam than a nice area in Langley, Surrey, and Maple Ridge. Fraser Mills is a 5-minute drive to Lougheed centre where H-Mart and all the korean amenities are located. Just that will bring in the Korean demographic that love to live close to Lougheed.
There's a T&T, movie theatre, and ikea close by that is 2 minute drive away which will also appeal to other demographics as well
If it's 20% cheaper than Lougheed, I can see a lot of people biting the bullet. People trust a developer like Beedie. The builders in Langley and Maple Ridge are all no-name developers and to be quite honest, not enough people want to live in Langley or cross the bridge. That's why prices in Coquitlam are $1100-1200 per sqft for presale, and once you cross the bridge, it's much lower.
Again, maybe I'm wrong, and this project will fail. However, I very much doubt it will.
|
I'm E. Asian, so I know that fact.
No idea how you got 5 minutes, I'm getting 10 min off-peak and 15 min max at peak.
This is high-rise living without any of the benefits (other than the waterfront, which isn't even in the first phase other than those 2 lucky towers).
Also, there are condos being built in Malliardville, which will compete directly with the niche of people looking for cheap condos further from transit, and is exactly as close to all those amenities (and is actually
on an existing commercial district!)
(They also
really need to build a park and ride at Braid on top of the bus loop for those people.)
Some people
are moving into Malliardville, and developers
are building condo towers there, but it's moving pretty slowly.
There's (I think) 1 high-rise going up at a time up there.
At that rate, Fraser Mills will take 50 years to fill up.
The price per sq. ft for the houses in the sprawl in Upper Coquitlam (Burke, etc.) are similar to those in Langley/sq. ft.
Which I think is more comparable here.
Again, 15 years of delay and constantly rewriting the plans is rarely a good sign.
Beedie is only getting started now because Coquitlam's going to fine them if they don't.
Prev
Linear Mode
