Oakridge Park | 13 Towers | 154m | 52fl | 5M sqft | U/C

[LeftCoaster]

Originally Posted by Migrant_Coconut

Valet parking? Exactly how many CEOs and celebrities are they expecting to move into Oakridge?

It's not that. They don't have enough parking in the proejct so they are using valet as a way to park tighter and are trying to sell it as a benefit.

I'll give them points for creativity but I don't think it's going to be well received.

[officedweller]

Originally Posted by whatnext

Are they for real?!

At the prices they're charging for the units they expected residents to hop on the Skytrain to go for dim sum in Richmond? I'm surprised such a slick outfit as Westbank would misread their clientele.

Yeah - can you say "disconnect"?

[seastar]

Originally Posted by LeftCoaster

It's not that. They don't have enough parking in the project so they are using valet as a way to park tighter and are trying to sell it as a benefit.

I'll give them points for creativity but I don't think it's going to be well received.

That killed our deal. We were going to downsize and buy a two bedroom ... first we could not get a second parking space, BUT then we realized that we would probably be in and out of our place by car at least 5 times a day on average, and would be queuing up for the valet each time to get and drop off our car, would have to tip the valet guy each time, and I'm sure that the $200/month valet fee would go up to who knows how much. Bottom line is the valet parking is too expensive and going to be way too inconvenient.

[Changing City]

I'm pretty certain Stan can't help either - he just operates on big long-term surface lots.

[Metro-One]

I mentioned the disconnect between the unit pricing and the fanfare of being a transit orientated project.

Such a project should have been geared towards a more realistic middle class market.

[bb1510]

LOL no counter; they just suggested a different unit type and reiterated the original asking price for the different combo units

#3004, 3Bed, S/SW/W, 1,388sf+419sf=1,807sf, CAD$4,399,800
#3203, 3Bed, SE, 1,620sf+327sf=1,947sf, CAD$4,879,800

#2904/05 $7,119,600
#3304/05 $7,409,600
#4104/05 $9,129,600

[whatnext]

Originally Posted by Changing City

I'm pretty certain Stan can't help either - he just operates on big long-term surface lots.

That's pretty cool but wouldn't it lead to the same problems they had at Jameson House, system gets bogged down if a lot of residents are leaving at the same time?

Give me an old-fashioned, drive-yourself-out parkade!

[officedweller]

Originally Posted by Changing City

I'm pretty certain Stan can't help either - he just operates on big long-term surface lots.

Whoa - because people like their cars being handled by a quasi-tow truck?

[SpongeG]

I was there yesterday, so many boarded up shops. And many have relocated. A/X is closed and long gone. Parking is getting confusing and a lot of it is not being used anymore obviously as its all under construction. And like Brentwood the public spaces were very busy, like the playground and seating. I guess people want public areas just to sit and chill these days.

[chrisel]

Originally Posted by bb1510

LOL no counter; they just suggested a different unit type and reiterated the original asking price for the different combo units

#3004, 3Bed, S/SW/W, 1,388sf+419sf=1,807sf, CAD$4,399,800
#3203, 3Bed, SE, 1,620sf+327sf=1,947sf, CAD$4,879,800

#2904/05 $7,119,600
#3304/05 $7,409,600
#4104/05 $9,129,600

[VarBreStr18]

Originally Posted by chrisel

Can't read this market at all. Full of inconsistency at best. SFH having problem selling. Yet condo still pushing 10 millions. Such luxury condos is marketed as super convenient TOD so that one does not need to rely on vehicle. Yet they offer valet parking for their ultra expensive toys. Have someone else valet park your Rolls Royce so that you can take sky train to Richmond for dim sum. If one can afford a 10 million condo , why not just purchase a SFH in the west for often reduced prices now. Gone are they days of super rich Chinese buyers who wishes to hatch their funds because they have problem transferring money out of country.
What sort of clientele will be looking to buy such condos??

[whatnext]

Originally Posted by SpongeG

I was there yesterday, so many boarded up shops. And many have relocated. A/X is closed and long gone. Parking is getting confusing and a lot of it is not being used anymore obviously as its all under construction. And like Brentwood the public spaces were very busy, like the playground and seating. I guess people want public areas just to sit and chill these days.

Yeah I used to pop in there quite a bit, now I'm avoiding it like the plague. Feel bad for the retailers sticking it out in there.

[fredinno]

Originally Posted by VarBreStr18

Can't read this market at all. Full of inconsistency at best. SFH having problem selling. Yet condo still pushing 10 millions. Such luxury condos is marketed as super convenient TOD so that one does not need to rely on vehicle. Yet they offer valet parking for their ultra expensive toys. Have someone else valet park your Rolls Royce so that you can take sky train to Richmond for dim sum. If one can afford a 10 million condo , why not just purchase a SFH in the west for often reduced prices now. Gone are they days of super rich Chinese buyers who wishes to hatch their funds because they have problem transferring money out of country.
What sort of clientele will be looking to buy such condos??

Investor buyers. This is the first part of the greater Oakridge area, and there is thus, a great head-start in that sense for Westbank and the investors of this project. Plus, not every rich person likes SFHs. But yeah, I'm surprised this is selling so well. It'd make sense if this was a waterfront property, say if this was transplanted to Flavelle Mills @ Port Moody, it'd make perfect sense. The location is definitely there for $4M condos.

[rofina]

Originally Posted by fredinno

Investor buyers. This is the first part of the greater Oakridge area, and there is thus, a great head-start in that sense for Westbank and the investors of this project. Plus, not every rich person likes SFHs. But yeah, I'm surprised this is selling so well. It'd make sense if this was a waterfront property, say if this was transplanted to Flavelle Mills @ Port Moody, it'd make perfect sense. The location is definitely there for $4M condos.

I too find it confusing.

I agree the sales pitch is to get in on the ground floor, and if you look at price increases between Tower 1, Tower 2, then Tower 3 at Amazing Brentwood you see it can make financial sense.

That being said - if this is the ground floor at Oakridge, are we expecting 10 million dollar 2 bedrooms to be the norm there?

Little confused about that.

[VarBreStr18]

Originally Posted by fredinno

Investor buyers. This is the first part of the greater Oakridge area, and there is thus, a great head-start in that sense for Westbank and the investors of this project. Plus, not every rich person likes SFHs. But yeah, I'm surprised this is selling so well. It'd make sense if this was a waterfront property, say if this was transplanted to Flavelle Mills @ Port Moody, it'd make perfect sense. The location is definitely there for $4M condos.

Coal Harbour , Yes. Definitely not Port Moody.

[whatnext]

Originally Posted by fredinno

Investor buyers. This is the first part of the greater Oakridge area, and there is thus, a great head-start in that sense for Westbank and the investors of this project. Plus, not every rich person likes SFHs. But yeah, I'm surprised this is selling so well. It'd make sense if this was a waterfront property, say if this was transplanted to Flavelle Mills @ Port Moody, it'd make perfect sense. The location is definitely there for $4M condos.

Investing in what? Who's going to want to buy there when they try to offload them?

[Vin]

Originally Posted by fredinno

Investor buyers. This is the first part of the greater Oakridge area, and there is thus, a great head-start in that sense for Westbank and the investors of this project. Plus, not every rich person likes SFHs. But yeah, I'm surprised this is selling so well. It'd make sense if this was a waterfront property, say if this was transplanted to Flavelle Mills @ Port Moody, it'd make perfect sense. The location is definitely there for $4M condos.

Waterfront isn't as hot as before for those in the know, what with the rising sea levels, more frequent king tides and all climate-change induced flooding, smarter people would more further inland and uphill. Parts of Yaletown near the seawall is already flooded couple of times in the year. Speaking of Port Moody: there is a condo there where the underground parking needs a pump to get rid of seepage water from the high water table found there. These are all unnecessary expenses. Agree with you that not all rich people like SFHs, especially those who want to live in quality houses, and/or concrete homes.

As for Oakridge condos selling at such a high price: they need that in order for such beautiful buildings to be built: otherwise it would be another cookie-cutter rectangular spandrel-filled apartment buildings like other parts of the Lower Mainland. You pay for the aesthetics as well.

[Vin]

Originally Posted by whatnext

Investing in what? Who's going to want to buy there when they try to offload them?

FYI, there are also rich people who need a home. Not everyone is "offloading". Prices here would still be creeping up if not for all the recent knee-jerk measures imposed by local as well as provincial governments that make it crippling to own properties here. However, this is a one-off thing, as more sanctions will make it even more difficult for even wealthy locals to own homes. As my mom used to say, property prices will always head up as long as the world population is growing: we're not creating new land here.

So yeah, your constant tirade against foreign investors may be legit to a certain extent, but no need to always beat down on the wealthy folks who have the right to own expensive properties: it still won't enable you to own one of those properties even if they are not buying, because nice stuff just won't get built. But I dunno: perhaps you have the hots for those "Vancouver Specials" and mouldy walk-ups, and prefer them to stay around in perpetuity. In that case, I digress.

[whatnext]

Originally Posted by Vin

FYI, there are also rich people who need a home. Not everyone is "offloading". Prices here would still be creeping up if not for all the recent knee-jerk measures imposed by local as well as provincial governments that make it crippling to own properties here. However, this is a one-off thing, as more sanctions will make it even more difficult for even wealthy locals to own homes. As my mom used to say, property prices will always head up as long as the world population is growing: we're not creating new land here.

So yeah, your constant tirade against foreign investors may be legit to a certain extent, but no need to always beat down on the wealthy folks who have the right to own expensive properties: it still won't enable you to own one of those properties even if they are not buying, because nice stuff just won't get built. But I dunno: perhaps you have the hots for those "Vancouver Specials" and mouldy walk-ups, and prefer them to stay around in perpetuity. In that case, I digress.

"Homes"? These aren't "homes"!

Cottages in the sky, maybe, but not homes where people will live year-round. What an absolute waste of one of the great transit acessible sites in Metro-Vancouver. And it may come as some shock to you but there is no "right" to own property in Canada, for Canadians or non-Canadians.

[VarBreStr18]

Originally Posted by Vin

Waterfront isn't as hot as before for those in the know, what with the rising sea levels, more frequent king tides and all climate-change induced flooding, smarter people would more further inland and uphill. Parts of Yaletown near the seawall is already flooded couple of times in the year. Speaking of Port Moody: there is a condo there where the underground parking needs a pump to get rid of seepage water from the high water table found there. These are all unnecessary expenses. Agree with you that not all rich people like SFHs, especially those who want to live in quality houses, and/or concrete homes.

As for Oakridge condos selling at such a high price: they need that in order for such beautiful buildings to be built: otherwise it would be another cookie-cutter rectangular spandrel-filled apartment buildings like other parts of the Lower Mainland. You pay for the aesthetics as well.

Sure,they call those tiny tubby hole balcony "sanctuary". Don't think if you can even fit a tiny BBQ there. Beauty but limited function