[Surrey] Prime at the Plaza | 110m | 37fl | Completed - Page 11

CoryHolmes · #**201** Posted **Jun 18, 2016, 8:15 AM**

I have to think that the majority of new suites bought from developers are going to be rentals. It's too crazy a housing market to not be. I don't like it much, and I'm glad my building is rental-controlled, but anyone who buys from the developer can rent the unit out (afaik).

vincent114 · #**202** Posted **Jun 18, 2016, 5:55 PM**

Quote:

Originally Posted by CoryHolmes

I have to think that the majority of new suites bought from developers are going to be rentals. It's too crazy a housing market to not be. I don't like it much, and I'm glad my building is rental-controlled, but anyone who buys from the developer can rent the unit out (afaik).

Image if 250 units of 300 are for rental, how crazy it is?
It is gonna happen at Prime.

w34lth · #**203** Posted **Jun 20, 2016, 9:19 PM**

I still haven't decided if I will live in my unit or rent it out.

w34lth · #**204** Posted **Jun 20, 2016, 9:21 PM**

Quote:

Originally Posted by vincent114

Image if 250 units of 300 are for rental, how crazy it is?
It is gonna happen at Prime.

Prime has more then 300 units.

vincent114 · #**205** Posted **Jun 20, 2016, 11:06 PM**

Quote:

Originally Posted by w34lth

Prime has more then 300 units.

I am just talking about the percentage.

Shift · #**206** Posted **Jun 29, 2016, 3:52 PM**

Crane is being installed today

Shift · #**207** Posted **Jun 29, 2016, 4:04 PM**

Pics:

go_leafs_go02 · #**208** Posted **Jun 29, 2016, 9:47 PM**

Crane has gone up today.

Shift · #**209** Posted **Jun 29, 2016, 11:48 PM**

And it's up

Shift · #**210** Posted **Jul 21, 2016, 4:57 AM**

Update on this one from today (July 20). Moving quickly now with lots of forms in place for the first level of parking.

clee7903 · #**211** Posted **Jul 21, 2016, 5:02 AM**

Looks great...thanks for the update. I wonder why Evolve doesn't have a crane yet. I thought they started excavating even before Prime.

Shift · #**212** Posted **Jul 21, 2016, 5:18 AM**

Evolve looks to be about a month away from a crane. The excavation was stalled for a while early on and the site is a bit bigger than Prime.

w34lth · #**213** Posted **Jul 26, 2016, 12:45 PM**

w34lth · #**214** Posted **Jul 27, 2016, 1:44 AM**

Is prime the only development in the surrey central area that actually sold out prior to completion?

Vin · #**215** Posted **Jul 27, 2016, 6:38 PM**

Quote:

Originally Posted by w34lth

Is prime the only development in the surrey central area that actually sold out prior to completion?

Cuz it's the closest to the mall, community arena, bus interchange, and 2nd closest to the skytrain station. City Hall and the library are literally just across the street. So not a surprise here.

w34lth · #**216** Posted **Jul 27, 2016, 7:13 PM**

Quote:

Originally Posted by Vin

Cuz it's the closest to the mall, community arena, bus interchange, and 2nd closest to the skytrain station. City Hall and the library are literally just across the street. So not a surprise here.

Thank you for providing reasons to why it sold out quickly.

I was asking if it was the only tower to actually sell out prior to completion.

clee7903 · #**217** Posted **Jul 27, 2016, 7:16 PM**

Quote:

Originally Posted by w34lth

Thank you for providing reasons to why it sold out quickly.

I was asking if it was the only tower to actually sell out prior to completion.

I think it is as Evolve, 3 Civic plaza, University District all still have units available and for that matter, Park Avenue too.

Vin · #**218** Posted **Jul 27, 2016, 7:51 PM**

Quote:

Originally Posted by w34lth

Thank you for providing reasons to why it sold out quickly.

I was asking if it was the only tower to actually sell out prior to completion.

Yes, as far as I know. Homeowners and investors alike love the proximity to all the amenities.

vincent114 · #**219** Posted **Jul 28, 2016, 5:58 PM**

I think because they got the cheapest "two bed room" called Micro two.

GMasterAres · #**220** Posted **Jul 29, 2016, 6:14 AM**

It's as much about the units and sizes as the location. It isn't any closer to the amenities than 3 Civic and quite frankly Evolve is 100 feet further away basically (yes I know it is more but seriously we're not talking 2km). Different building though and the units are fairly small (as with many of the new towers) and thus cheaper to buy especially for investors who need a much larger chunk of money with recent rule changes to purchase units.

That said proximity is a contributing factor and I'd imagine this is more attractive to those going to SFU given it will basically be next door.

And regarding being the only to sell out before completion, quite possible. I think Wave was close to selling out if it didn't actually before completion. If it did technically though it was very close to completion unlike Prime which hasn't even completed the first parkade level.

It is a very good location though. Personally I don't see it as entirely a good thing though call me crazy. I'm a bit torn. If towers start selling out before completion especially before they even hit the ground floor in Surrey, it means that prices are going to start going up super quickly. Part of me who owns multiple places in Surrey Central does want to see my equity start to climb considerably quicker (or at all), but for the region as a whole, Surrey Central is one of the few remaining affordable central cores to buy in. Fast sales means success and an attraction for likely more projects. But higher prices means pushing people further and further away from the region. Surrey Central is still 40km away from Vancouver so it's not like we're next door. If even here starts to get unaffordable, I have a feeling a lot of people will need to start looking to buy in Chilliwack or Hope.