Quote:
Originally Posted by Feathered Friend
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Very glad about this cancellation.
Developers can't make a profit with the current 6-storey condo. Also, despite the ultra expensive units, the quality would be sub-par with no good amenities, as well as being situated along a busy roadway corridor. With less foreign money coming into real estate now due to the current global climate as well as high mortgage interest rates, it would be a hard sell especially when marketed to locals.
A mixed-use commercial development would be best suited along a noisy corridor, especially for one close to a skytrain station. Unfortunately, many developers already rushed into building those 6-storey condos around here, and this is very inefficient land usage for this new town centre.
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