The Beasley | 91m | 33 fl | Completed - Page 3

jlousa · #41 Posted **Mar 18, 2009, 1:29 AM**

Cheapest advertising ever, I'll give it to the Omni/Amacon family they know how to take advantage of the media.

Beasley was very overpriced to begin with and probably most of those existing purchasers were insiders as it didn't sell well to the public. Lower the prices now by a sizeable amount and get tons of free publicity which will help offload the rest of the inventory. Just like Omni did last month.

Kudos, and we'll get to see another tower go up now.

officedweller · #42 Posted **Mar 18, 2009, 7:09 AM**

Quote:

Originally Posted by Stingray2004

Surprise, surprise... yes Amacon is also offering the same discount to existing pre-purchasers, lowering their respective fixed-prices.

The news said that they are in a position to flow through lower costs on their materials and labour - so they just happen to be at the preconstruction stage where they hadn't locked into high proced contracts.

One buyer on TV (a radio DJ) bought 2 units for his kids - $500K each and is saving $180K and $170K on them - $350K total. How much do you want to bet those are one bedroom or one with den suites?

Locked In · #43 Posted **Mar 18, 2009, 11:41 AM**

Quote:

Originally Posted by officedweller

The news said that they are in a position to flow through lower costs on their materials and labour - so they just happen to be at the preconstruction stage where they hadn't locked into high proced contracts.

One buyer on TV (a radio DJ) bought 2 units for his kids - $500K each and is saving $180K and $170K on them - $350K total. How much do you want to bet those are one bedroom or one with den suites?

The updated article has a bit more information regarding the decision to reduce prices, and the starting price for each type of unit:

Quote:

Somerville said calculating how much risk the company would face from The Beasley’s buyers walking away from contracts if they didn’t reduce prices likely factored into Amacon’s decision.

Somerville said a developer’s choices are to take buyers to court to enforce the contracts they originally signed. However, even if the company wins those lawsuits, it still will be dealing with angry customers.

Developers, he added, also do not want to end up holding large numbers of unsold units.

Faced with the alternatives, Amacon has decided “the smart business decision” is to reduce prices, Somerville said.

Other developers in Metro Vancouver also have discounted their prices.

The Onni Group of Companies, which is suing 44 pre-sale buyers for walking away from units in a handful of projects, attracted headlines in January for its so-called liquidation sale of some 375 completed units at prices 25 per cent to 40 per cent off original contract prices.

Earlier this month, Morningstar Homes Ltd. said it was able to cut $100,000 off the construction costs of its new single-family homes, which it would pass directly to buyers.

New pricing at The Beasley will put studio apartments as low as $219,000, one-bedroom units as low as $305,000 and start two-bedroom suites as low as $435,000.

Source: Vancouver Sun

sacrifice333 · #44 Posted **Mar 18, 2009, 3:07 PM**

Quote:

Originally Posted by Locked In

New pricing at The Beasley will put studio apartments as low as $219,000, one-bedroom units as low as $305,000 and start two-bedroom suites as low as $435,000.

Those new prices are becoming fairly attractive. For anyone not in the downsizing phase of life there are starting to be some great opportunities.

Yume-sama · #45 Posted **Mar 18, 2009, 3:39 PM**

Quote:

Originally Posted by jlousa

Cheapest advertising ever, I'll give it to the Omni/Amacon family they know how to take advantage of the media.

Beasley was very overpriced to begin with and probably most of those existing purchasers were insiders as it didn't sell well to the public. Lower the prices now by a sizeable amount and get tons of free publicity which will help offload the rest of the inventory. Just like Omni did last month.

Kudos, and we'll get to see another tower go up now.

I agree. I went to see it, but while the suites were "nice" I did think the prices were a bit too high for what they were offering. The building isn't even air conditioned, and frankly, if they are going to try to sell for a bit of a premium that is the least they could do. The design isn't all that great either, it pretty much looks like a carbon copy of L'Hermitage (not that L'Hermitage is badly designed, just... couldn't they think of their own

)

officedweller · #46 Posted **Mar 18, 2009, 7:13 PM**

The architects for The Beasley is the same as for L'Hermitage - and the design was originally a glass tower with a retro cube at the base. But the City that didn't like the design - so we end up with a L'Hermitage clone.

flight_from_kamakura · #47 Posted **Mar 18, 2009, 10:51 PM**

it's a testament to how nimble these guys are that they could move this quickly and this decisively to keep this project moving forward. contrast with something like the absurd 999 seymour project. (and while i watch the second tower of dolce vita come up, i repress this sinking feeling that the georgia residences will come to an inglorious, half-constructed end)

johnjimbc · #48 Posted **Mar 19, 2009, 1:19 AM**

I do think they've been quite good at getting ahead of the game. I thought the sales of the final H&H residences were quite smart as well.

What do you mean by the georgia residences? (which project - or projects)

Kodii · #49 Posted **Mar 19, 2009, 1:35 AM**

The Residences at Hotel Georgia

http://forum.skyscraperpage.com/showthread.php?t=138024

johnjimbc · #50 Posted **Mar 19, 2009, 2:03 AM**

Oh, I feel sort of silly. For some reason I didn't make the association.

I certainly hope it doesn't stop half-way, though I have to admit I've found myself wondering if they might not just complete the renovation of the existing heritage structure, re-open that part as a hotel, and hold off on the tower itself.

BIG CAVEAT: That's just a random thought I had looking at the site one day. It is not based on any direct knowledge I have about the project so please don't run with the idea because I typed it here

osirisboy · #51 Posted **Apr 7, 2009, 2:31 PM**

I'm pretty sure excavation has now started. There is a back hoe some trucks on site and they are jack hammering. But we'll see, if it turns out to actually be excavation I'll post some pics.

hollywoodnorth · #52 Posted **Apr 7, 2009, 8:11 PM**

Good Stuff

hollywoodnorth · #53 Posted **Apr 9, 2009, 11:53 AM**

Quote:

Originally Posted by osirisboy

I'm pretty sure excavation has now started. There is a back hoe some trucks on site and they are jack hammering. But we'll see, if it turns out to actually be excavation I'll post some pics.

any updates?

should there be a thread title change?

osirisboy · #54 Posted **Apr 9, 2009, 1:11 PM**

sorry no. Unfortunately I was mistaken. It turned out they were just working on sewer stuff in the laneway during the morning.

hollywoodnorth · #55 Posted **Apr 24, 2009, 6:04 AM**

anything yet? apparently the project is now SOLD OUT.......

Yume-sama · #56 Posted **Apr 24, 2009, 6:16 AM**

Sold out, eh? I'm kind of surprised about that.

Vancity · #57 Posted **Apr 24, 2009, 6:17 AM**

so the project is now sold out??

mcminsen · #58 Posted **Jul 1, 2009, 9:31 AM**

Today (Tuesday June 30) I noticed that the parking lot adjacent to the old "Homer" apartment block has been closed and fenced off. Something's up.

osirisboy · #59 Posted **Jul 1, 2009, 2:49 PM**

thats weird I doubt it has anything to do with construction. last i heard they werent going to start until october.

maybe its for canada day stuff. or it was a bunch of drunks that decided to move the fence over night.

hollywoodnorth · #60 Posted **Jul 1, 2009, 4:38 PM**

well for a "sold out" project they sure are taking their sweet time