Quote:
Originally Posted by WhipperSnapper
I just know so little about this company that purchased these malls that I'm sure weren't cheap to redevelop in phases that each come with an impressive price tag. They must be partnered with a hudge fund.
|
I had a look at some model units for these towers and the units I saw were unattractive, as in at the time I wouldn't have wanted to leave my older condo with a lower value to live in them. One was a 3 BR with under 1,000 square feet, unattractive layout, and mini appliances for $700k or so a number of years ago. Amenities were ho-hum for such a large complex.
If you look at their eventual plan it seems okay but for now the immediate area is actually worse than it was in years past. Across North Road the businesses are pretty vibrant and there's a mix of new towers with small footprints as well as older strip malls. Around the mall there are a bunch of empty properties and derelict sites. They will be filled in but at this point many have probably already been empty for 5-10 years and are many phases of development into the future. The North Road frontage of these towers so far is not great.
I think the whole concept of having these malls controlled by large developers and focusing so much development in these areas (giving "cover" to some degree for limiting development in other areas like East Vancouver or Hastings) is bad for urban vibrancy and affordability overall.