Grosvenor Pacific | 114.3m | 39 Fl | Completed - Page 24

Changing City · #**461** Posted **Feb 23, 2021, 9:23 PM**

It's interesting that Grosvenor are discounting their unsold units. On their website they call it a 'decorating allowance' but the advert in The Home and Condo Guide doesn't label it that way. They are offering $50,000 off a one bed, $100,000 off a two bed and $200,000 off a three bed.

whatnext · #**462** Posted **Feb 23, 2021, 9:50 PM**

Quote:

Originally Posted by Changing City

It's interesting that Grosvenor are discounting their unsold units. On their website they call it a 'decorating allowance' but the advert in The Home and Condo Guide doesn't label it that way. They are offering $50,000 off a one bed, $100,000 off a two bed and $200,000 off a three bed.

That's a lot of decorating.

I guess buyers really have soured on downtown living during the pandemic.

jollyburger · #**463** Posted **Feb 23, 2021, 10:42 PM**

Quote:

Originally Posted by whatnext

That's a lot of decorating.

I guess buyers really have soured on downtown living during the pandemic.

If three bedroom units are like $3 million though then it's not a huge fire sale.

osirisboy · #**464** Posted **Feb 24, 2021, 1:46 AM**

Love the brick. Would love to see that used much more especially versus painted concrete. I always thought brick wasn’t used on towers because it was an earthquake risk but that’s obviously not the case.

spacebjorn · #**465** Posted **Feb 24, 2021, 7:34 AM**

Quote:

Originally Posted by jollyburger

If three bedroom units are like $3 million though then it's not a huge fire sale.

This.

Those figures are a drop in the bucket for the closing price for those units (albeit still a good savings). The marketing agency (Rennie) could also just be trying to meet their targets for Grosvenor and is putting up part of their own commissions in hopes of attracting buyers who may be swayed to upsize or like someone has mentioned, locate further away from the unnecessary dealings in DT.

I have heard from credible people who works for Rennie's competitors that they have been struggling to sell their new projects. The one's that have been successful are in the lower margin squeeze criteria too.

whatnext · #**466** Posted **Feb 24, 2021, 5:38 PM**

Quote:

Originally Posted by jollyburger

If three bedroom units are like $3 million though then it's not a huge fire sale.

$3 million, I thought increased supply was supposed to be lowering home costs?

spacebjorn · #**467** Posted **Feb 24, 2021, 6:23 PM**

Quote:

Originally Posted by whatnext

$3 million, I thought increased supply was supposed to be lowering home costs?

Not to be a stickler but the 3BD+ are actually hovering around $3.7-3.8. So with the discount it's more like $3.5 before taxes

cov · #**468** Posted **Feb 24, 2021, 7:21 PM**

Quote:

Originally Posted by whatnext

$3 million, I thought increased supply was supposed to be lowering home costs?

Condo prices, in general, are stagnant if not falling. On the other hand, detached home prices have shot straight up. If all of Vancouver was like Westend Vancouver would not be having a housing crisis.

Pointing at a couple of expensive units to denounce Vancouver's need for more housing development is disingenuous. Not the first time I pointed this out neither.

Vin · #**469** Posted **Feb 24, 2021, 10:20 PM**

The development is like a bit of modern London in Vancouver. Good job, Grosvenor.

whatnext · #**470** Posted **Feb 25, 2021, 1:09 AM**

Quote:

Originally Posted by cov

Condo prices, in general, are stagnant if not falling. On the other hand, detached home prices have shot straight up. If all of Vancouver was like Westend Vancouver would not be having a housing crisis.

Pointing at a couple of expensive units to denounce Vancouver's need for more housing development is disingenuous. Not the first time I pointed this out neither.

Um, yeah. So here's a picture I took last week of the skyline which shows Grosvenor plus the two other projects under construction. Throw in Vancouver House and that's a large amount of units within a couple blocks of each other. There are sites like this all over the Lower Mainland, rendering the notion that all of Vancouver must be built up to West End levels of density to achieve affordability ridiculous.

[IMG]

skyline by whatnextyvr, on Flickr[/IMG]
(my photo)

cov · #**471** Posted **Feb 25, 2021, 8:11 PM**

Quote:

Originally Posted by whatnext

Um, yeah. So here's a picture I took last week of the skyline which shows Grosvenor plus the two other projects under construction. Throw in Vancouver House and that's a large amount of units within a couple blocks of each other. There are sites like this all over the Lower Mainland, rendering the notion that all of Vancouver must be built up to West End levels of density to achieve affordability ridiculous.
(my photo)

There are constructions like Vancouver House all over the lower mainland? I wish, Vancouver would be amazing if this was the case. Highrise developments in Burnaby and Coquitlam are far cheaper. Zooming in on a couple of harbor side developments to claim all condos are luxury is absurdly disingenuous.

Why not point to the $10m+ beachfront properties in kits to claim all detached houses are for the uber-rich? Oh wait, that's not on the nimby agenda, because that's actually true. There's not a single-detached house for sale in Vancouver for under $1m. Single-family zoning is exclusive land reservation for the rich. How many times are you gonna keep regurgitating the same disingenuous arguments?

Condos are the only reason why young people can still stay in this city. We need westends everywhere.

Zepfancouver · #**472** Posted **Feb 27, 2021, 10:00 PM**

This Afternoon

spacebjorn · #**473** Posted **Mar 2, 2021, 8:30 PM**

Might've been touched on before, are those triple pane/glazed windows? it's quite substantial

Klazu · #**474** Posted **Mar 2, 2021, 8:49 PM**

Quote:

Originally Posted by spacebjorn

Not to be a stickler but the 3BD+ are actually hovering around $3.7-3.8. So with the discount it's more like $3.5 before taxes

Nothing about this building is worth that much. Paying that much requires one to charge rents of $10,000/month if not moving in themselves, which almost no tenant is willing to pay. So unless ownersmove in, they will be paying a hefty empty homes tax for their empty unit.

Interesting that for once the penthouses have 4 bedrooms and are just now oversize 3 bedrooms like many others.

Vin · #**475** Posted **Mar 2, 2021, 10:15 PM**

Quote:

Originally Posted by whatnext

Um, yeah. So here's a picture I took last week of the skyline which shows Grosvenor plus the two other projects under construction. Throw in Vancouver House and that's a large amount of units within a couple blocks of each other. There are sites like this all over the Lower Mainland, rendering the notion that all of Vancouver must be built up to West End levels of density to achieve affordability ridiculous.

[IMG]

skyline by whatnextyvr, on Flickr[/IMG]
(my photo)

Which other areas in the City of Vancouver have ultra-lux super pricey high-rise condos other than pockets of the downtown peninsula? I suppose you want all rich folks to live in walk-ups or commie-blocks like everybody else. Isn't that how communism started: to make everyone become a commoner?