Quote:
Originally Posted by VarBreStr18
Coal Harbour , Yes. Definitely not Port Moody.
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Flavelle Mills is right next to a pretty decent park (Rocky Point), is isolated by the rail tracks (which the development would have to also soundproof from) and is right next to the Ocean and Mountain Views. It'd be a better place to
try Oakridge than Oakridge if they were trying to do that, and it's not taking up AAA land next to a Skytrain station. They could also enclose off part of the Inlet for a swimming/surfing pool. It at least has luxury
potential.
What part of Oakridge Centre makes it a AAA location?
Quote:
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.
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Uhh... Source?
Yaletown is being flooded? What are you going on about?
Well, yeah, but this development isn't exactly starchitect crowd-pleasers Vancouver House or Butterfly either.
Quote:
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.
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Yeah, I meant investment as in riding the future price increase. Even in the most optimistic measures though, what price increases do people legit expect out of Oakridge?
It seems like Westbank is trying the 'expensive wine' strategy of telling everyone this is a AAA location and development, and people are buying into it.
Will this will actually continue work once the development and area is more built out, and the RE bubble continues to deflate? (esp. in China?)
TBF, it also means that developers can't just focus on the more volatile luxury market if all the foreign investors leave.
Quote:
Originally Posted by VarBreStr18
Sure they do, it is called entertainment. Even the super ultra rich have theirs peers to entertain. It is a lifestyle.... quality of living.
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There IS a
certain kind of entertainment the Santuary might be suitable for- if you're into that sort of thing. ( ͡° ͜ʖ ͡°)
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This is just my personal crazy guess 
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