Oakridge Park | 13 Towers | 154m | 52fl | 5M sqft | U/C - Page 40

bb1510 · #**781** Posted **Nov 21, 2018, 10:03 PM**

Quote:

Originally Posted by Vin

Sweeping statement of me being proven wrong that I don't anything of. List them please.

So how do you know its corrupt money? Where are your sources? Making sweeping statements: that's your thing.

Glad I'm of good entertainment value to you, but please, don't waste your posts OK?

Are you saying that all the investors from Asia are using laundered and corrupt money to invest in these Westbank properties as claimed by retro_orange?

Read the following. Seems to be a greedy but legal way to make money that angers Canadians, but nothing here mentions "corrupt and laundered money" coming in:
https://thetyee.ca/News/2018/06/15/Housing-Advocates-Developer-Westbank-Chinese-Website/

No, I never said that and absolutely don't agree. I fail to see where you extrapolated that thought from what I wrote.

What I'm just saying capital control out of China is even much more stringent than before.

How is money made offshore used to finance a purchase automatically deemed as "laundered and corrupt money"; that's like saying just because someone owns a textile and clothing factory in China, they're automatically running a sweatshop.

I'm just stating how Westbank advertises their properties in Asia versus the way they market here locally and I've witnessed both

bb1510 · #**782** Posted **Nov 21, 2018, 10:04 PM**

[QUOTE=Vin;8386813]

Quote:

Originally Posted by seastar

I see a huge discrepancies in pricing here. Just don't buy the expensive ones and they will lower the price. If there are foreign suckers buying it, then let them, cuz ultimately they need to sell at lower prices if they want to get rid of them.

But also, the huge discrepancies are also the fact that they're in two different buildings; the one with the Piero Lissoni interiors are touted as much more premium and have higher end finishes with prices to match

bb1510 · #**783** Posted **Nov 21, 2018, 10:06 PM**

Quote:

Originally Posted by VanK

Okay... Thats one unit. According to the price list, Floor 7, 1 bed, 629 sq.ft is $899,800 . = $1430 per square foot (including balcony). or a floor 7 2 bed 1,029 s.ft is starting at $1,429,800 which is $1,390 p/sft (including balcony).

We are however comparing overall building averages. but thanks for typing out the price list. Doing a rough weighted averages of all the sizes and prices in the price list, the building looks like its averaging $2,250 per square foot ( I know this is not an exact science) and also these include balconies and will increase the proper per square footages. Does anyone know what the rough balcony size is?

and again no I am not justifying the pricing just analyzing. It makes more sense to buy a single family detached home with land!!

Yes but as with all developments, the "starting price" or the absurdly "cheap" units end up only being a couple with most closer to the higher price points. The weighted average will be closer to the higher prices - probably 2800 psf as a poster previously mentioned but then again, I don't have the pricing for every unit

Vin · #**784** Posted **Nov 21, 2018, 11:37 PM**

Quote:

Originally Posted by bb1510

No, I never said that and absolutely don't agree. I fail to see where you extrapolated that thought from what I wrote.

What I'm just saying capital control out of China is even much more stringent than before.

How is money made offshore used to finance a purchase automatically deemed as "laundered and corrupt money"; that's like saying just because someone owns a textile and clothing factory in China, they're automatically running a sweatshop.

I'm just stating how Westbank advertises their properties in Asia versus the way they market here locally and I've witnessed both

Good! It was retro_orange who used your argument to justify his sweeping statement that Westbank had been successful in finding corrupt and laundered money from Asia to invest in their properties here. I rest my case, thank you!

vanman · #**785** Posted **Nov 22, 2018, 2:30 AM**

Quote:

Originally Posted by bb1510

Here is the project manifesto as well as individual brochures for buildings 3 and 4

Each building will feature different interiors and lobby designs by a different designer

https://issuu.com/westbankcorp/docs/181014_oak_final_print_book_from_me

https://issuu.com/westbankcorp/docs/oakridge_b3_castiglia_designer_book

https://issuu.com/westbankcorp/docs/oakridge-b4-lissoni

Thanks for posting. Here are some of the renderings from the manifesto.

vanman · #**786** Posted **Nov 22, 2018, 2:32 AM**

vanman · #**787** Posted **Nov 22, 2018, 2:38 AM**

vanman · #**788** Posted **Nov 22, 2018, 2:43 AM**

Klazu · #**789** Posted **Nov 22, 2018, 5:24 AM**

Quote:

Originally Posted by Metro-One

If people can’t see how these price points for this project are a red flag regarding livability in Vancouver, then there is nothing else to say.

Hear, hear. Living outside of Vancouver certainly puts all craziness more into perspective. Many Lower Mainlanders have unfortunately got used to thinking that the market anomaly in the last 5 years is the new normal, while in reality the eventual breaking point is getting closer and closer.

Quote:

Originally Posted by bb1510

Westbank markets their projects in Asia as "make 100% roi on your deposit easily" and puts lots of emphasis on assignments and flipping as well as how one does not need to wait until completion to make money while exiting their contract (even though they are on the hook if the assignee doesn't complete).

I puzzles me how any of these buyers have made it rich in the first place, as one has to be a naive idiot or incredibly greedy to buy into such bullshit promises.

All the rich buyers I have seen buying expensive units have seemed completely clueless about what a good investment looks like. Most of them just throw a million dollars on anything the con man (real estate agent) happens to show them.

I cannot see the wealth of the current buyer category lasting more than one generation.

VancouverOfTheFuture · #**790** Posted **Nov 22, 2018, 6:47 AM**

Quote:

Originally Posted by Klazu

Hear, hear. Living outside of Vancouver certainly puts all craziness more into perspective. Many Lower Mainlanders have unfortunately got used to thinking that the market anomaly in the last 5 years is the new normal, while in reality the eventual breaking point is getting closer and closer.

I puzzles me how any of these buyers have made it rich in the first place, as one has to be a naive idiot or incredibly greedy to buy into such bullshit promises.

All the rich buyers I have seen buying expensive units have seemed completely clueless about what a good investment looks like. Most of them just throw a million dollars on anything the con man (real estate agent) happens to show them.

I cannot see the wealth of the current buyer category lasting more than one generation.

no one said you need to be smart to make money from a sweat shop in China.

a fool and his money are soon parted

the only good thing is, when the market comes down, and all these people go bankrupt. a few of us can come in and snatch up places on the cheap. that is what i am looking forward to.

there has already been more foreclosures around town then normal.

fredinno · #**791** Posted **Nov 22, 2018, 9:03 AM**

Quote:

Originally Posted by bb1510

Exactly.

I know some people who purchased a presale at 220 Central Park South in New York early on at around mid 6k psf USD. The latest price amendments is at 10k+ psf USD.

They won't be able to complete as they're having difficult moving capital out and there's no assignments allowed with the developer even though there's lots of money to be made and long term, it's a winning proposition as it's the new "it" building on Billionaire's Row. They will forfeit their deposit to the tune of a nice house in Shaughnessy.

Westbank markets their projects in Asia as "make 100% roi on your deposit easily" and puts lots of emphasis on assignments and flipping as well as how one does not need to wait until completion to make money while exiting their contract (even though they are on the hook if the assignee doesn't complete).

The owners at Peterson have already expressed their concerns previously with regards to Chinese buyers moving capital out as well as local purchasers getting traditional financing. Notice how after Alberni by Kuma, you don't really see many Westbank and Peterson partnerships anymore.

I wonder whether this project will be 'redesigned' around less ultra-luxury developments as the RE Boom grinds to a halt, and/or if another global recession hits?

I doubt this would survive 6% interest rates, or another 2015-style Chinese Stock Market Crash.

s211 · #**792** Posted **Nov 22, 2018, 3:42 PM**

Quote:

Originally Posted by vanman

Am I the only one that sees just big urinals here?

rofina · #**793** Posted **Nov 22, 2018, 4:38 PM**

This is the closest thing I have seen to the "future" you see in Sci-Fi movies.
It looks great, but in that way actually gives me pause.

whatnext · #**794** Posted **Nov 22, 2018, 5:42 PM**

Quote:

Originally Posted by s211

Am I the only one that sees just big urinals here?

Too true.
Maybe it's a legacy of the leaky condo crisis, but I cringe when I see enclosed balconies in Vancouver.

truenorth44 · #**795** Posted **Nov 22, 2018, 5:55 PM**

Quote:

Originally Posted by s211

Am I the only one that sees just big urinals here?

Hey, if that's what you want to use it for when you buy it, we're not going to judge.

logan5 · #**796** Posted **Nov 22, 2018, 8:16 PM**

Quote:

Originally Posted by rofina

This is the closest thing I have seen to the "future" you see in Sci-Fi movies.
It looks great, but in that way actually gives me pause.

Yes. In that inner park they can hold a Carousel ritual.

s211 · #**797** Posted **Nov 22, 2018, 11:11 PM**

Quote:

Originally Posted by truenorth44

Hey, if that's what you want to use it for when you buy it, we're not going to judge.

I take that as a challenge!

fredinno · #**798** Posted **Nov 22, 2018, 11:53 PM**

Quote:

Originally Posted by s211

I take that as a challenge!

Assuming you will actually buy it...

e-clam9 · #**799** Posted **Nov 23, 2018, 3:46 AM**

s211 · #**800** Posted **Nov 23, 2018, 3:22 PM**

Quote:

Originally Posted by fredinno

Assuming you will actually buy it...

Don't have the insane amount of $$$ required, nor the appetite to give Westbank any of my business. It's a win-win.