[Surrey] Park George | 35 + 39 fl | U/C

[e-clam9]

Originally Posted by EhJay

Email out from them today. Appointments starting anytime now.
Everything AlexYeh said holds true: NFC / smartphone enabled access (similar to how a fob works), wifi throughout common areas, chilled storage room (for concierge to accept food deliveries), large lounge space, 24/7 concierge. etc.

I hope we don't need to hold the phone outside the car to touch or get close to the sensor to open any gate or door or elevator. Rainy day makes it worse. I still like the sensor on the dashboard, so I don't need to open my driver window.

[Nites]

Do any of these new condos have a legit full size gym? By legit I mean free weight Squat Rack, free weight Bench Press, dumbbells to 100lbs, legs machines, pully machines, hammer strength etc.

From what I've seen the normal is Smith Machine, dumbbells to 35 or 50lbs, 3 or 4 useless machines, and the rest all cardio equipment.

[EhJay]

Originally Posted by skymaster

Do any of these new condos have a legit full size gym? By legit I mean free weight Squat Rack, free weight Bench Press, dumbbells to 100lbs, legs machines, pully machines, hammer strength etc.

From what I've seen the normal is Smith Machine, dumbbells to 35 or 50lbs, 3 or 4 useless machines, and the rest all cardio equipment.

I'd be highly surprised if any gym put in that kind of equipment. Most gym goers aren't body/power-lifters. Would be a dream if they built up a gym like that, but instead most places are like an at home version of Planet Fitness.

[e-clam9]

Originally Posted by skymaster

Do any of these new condos have a legit full size gym? By legit I mean free weight Squat Rack, free weight Bench Press, dumbbells to 100lbs, legs machines, pully machines, hammer strength etc.

From what I've seen the normal is Smith Machine, dumbbells to 35 or 50lbs, 3 or 4 useless machines, and the rest all cardio equipment.

I can not find any dumbbell at Park Ave East gym....

[e-clam9]

New University District Pre-sales of 700+ units in two towers is coming in next few weeks. Starting from $330K only !!

https://ud.blueskyproperties.ca/

Together with Park George, there are about 1400 units, if I am right, for pre-sales in this short period.

The Concord Pacific Surrey office changed name to Park George now. A big banner is on the top of the office. From the info, it said tower 1 will be done in 2022, no date for tower 2, but I guess 2023 or 2024.

[Klazu]

There are people that think a tiny 400 sqft studio apartment on the 5th floor in Surrey is a steal for $329,000? When did it get to this?

[BaconTelevision]

Originally Posted by e-clam9

New University District Pre-sales of 700+ units in two towers is coming in next few weeks. Starting from $330K only !!

https://ud.blueskyproperties.ca/

Together with Park George, there are about 1400 units, if I am right, for pre-sales in this short period.

The Concord Pacific Surrey office changed name to Park George now. A big banner is on the top of the office. From the info, it said tower 1 will be done in 2022, no date for tower 2, but I guess 2023 or 2024.

I believe they had a VIP event on Tuesday as they have sectioned off parking within the Park Place development for presentation Center parking only. Secondly, the amount of higher end cars hovering around the parkade and street level was a signal as well. Can't think of many people in my development with Bentley continentals, 7-Series, and Benz GLS.


@Klazu

It is a steal comparative the the rest of the region. Unfortunately the days of affordable real estate in Surrey is coming to an end. Especially property in line with mass transit and close proximity to public amenities, and educational institutions such as SFU, KPU.

I remember when I could have purchased a unit in Park Place on pre-sale for 340k for roughly 900sqft. Today, the resell market shows roughly 550k+ on MLS. In my opinion, growth has been rather stagnant in Surrey up until 2013/14. It's nice to see positive gentrification in the area, lord knows Surrey Central needs it.

[e-clam9]

Originally Posted by Klazu

There are people that think a tiny 400 sqft studio apartment on the 5th floor in Surrey is a steal for $329,000? When did it get to this?

It is definitely not a steal, but it is more affordable comparing to the out-of-the-world price in Vancouver and Richmond. I heard that sales in most area of Vancouver are slowing rapidly, especially the detached homes and the big mansions. The more expensive they are, the more drop in their price. Some sold for 2/3 of listing price and some are worse. Condo sales are ok but starting to show a crack too. Some even said bear market is already here. You may see better price soon.

[e-clam9]

Originally Posted by BaconTelevision

I believe they had a VIP event on Tuesday as they have sectioned off parking within the Park Place development for presentation Center parking only. Secondly, the amount of higher end cars hovering around the parkade and street level was a signal as well. Can't think of many people in my development with Bentley continentals, 7-Series, and Benz GLS.

I got my VIP email on Tuesday evening and my appointment is scheduled on the coming Monday. I guess they let the RVIP (Real VIP) to preview their condo first on Tuesday before the VIP schedule. :-) Usually VIP event is just a public event for general buyers and small investors. Not sure why they call it VIP for all these condo pre sales, funny :-)

[Cypherus]

Interesting. $330K for a 400 sq. ft. studio is the norm for Surrey. This means one bedrooms are likely priced at $430K and higher, consistent with Avani and The Hub. 2 bedrooms probably starting at $600K or higher. Let's be honest - most of those Benz and BMWs, likely from a particular Vancouver demographic, are not going to close on the purchases anyway. They'll drop the 20% down and sell it in 2-3 years for more money (that's the idea anyway).

[e-clam9]

Originally Posted by Cypherus

Interesting. $330K for a 400 sq. ft. studio is the norm for Surrey. This means one bedrooms are likely priced at $430K and higher, consistent with Avani and The Hub. 2 bedrooms probably starting at $600K or higher. Let's be honest - most of those Benz and BMWs, likely from a particular Vancouver demographic, are not going to close on the purchases anyway. They'll drop the 20% down and sell it in 2-3 years for more money (that's the idea anyway).

From what I see, the condo price is pretty stable in Surrey this year (after raising so much in previous couple years). With the slowing down in realty market in Vancouver/Richmond market, I predict that the condo price may not increase much in next 2-3 years. These pre-sales investors may not make money or make much less money comparing to last few years, I predict. My agent said market usually recoveries a bit after people returned from their summer vacation and back to school or work, it has not happened yet. Next few months is critical to proof if this slow down is real or seasonal. Buying pre-sales carries more risks than buying exiting condo.

China joined CRS reporting systems and many foreign banks must report Chinese accounts and investment info to China government starting from Sept 1, 2018. Even the life insurance contract with cash value must be reported. Can this have major or minor effect on our realty market transaction volume ? I wonder.

http://www.pr-igroup.com/in-septembe...g-information/

[e-clam9]

Visited preview today. The condo list price does NOT include parking stall or locker for every floor plan. If you need parking stall or locker, pays extra...

All 4 buildings (Park Ave East/West and new Park George 1 and 2) share ALL outdoor amenities (including the indoor and outdoor swimming pools). Only one concierge for both Park George buildings, it is at the lobby of tower 2 (not selling yet) only. Each tower has 3 elevators. Both PG towers shares its own underground parking with two entrances. It also seems that tower 1 (the one selling now) does not have a lobby but it houses a few other amenities on the bottom 2 levels. Work/studies area, gym, club room, ping pong room, spa room, and more seems to be there (I don't have a good photo, so I guess only). I believe these are indoor amenities which are not shared with Park Ave residents. You could enter the lobby at tower 2 (from 100th ave entrance), walk along hall way (with a small water falls view) to get to tower 1. No rooftop garden, Park George residents cannot visit the rooftop on Park Ave East/West. A/C and water (cold/hot) are included in strata. As usual, anything can be changed by developer without notice, or I could be wrong. Please don't rely on my info :-)

[Shift]

Some new renderings from their website:

[MovieBuff]

Do you happen to have the pricing for 2 bedrooms? Sq Ft?

Originally Posted by e-clam9

Visited preview today. The condo list price does NOT include parking stall or locker for every floor plan. If you need parking stall or locker, pays extra...

All 4 buildings (Park Ave East/West and new Park George 1 and 2) share ALL outdoor amenities (including the indoor and outdoor swimming pools). Only one concierge for both Park George buildings, it is at the lobby of tower 2 (not selling yet) only. Each tower has 3 elevators. Both PG towers shares its own underground parking with two entrances. It also seems that tower 1 (the one selling now) does not have a lobby but it houses a few other amenities on the bottom 2 levels. Work/studies area, gym, club room, ping pong room, spa room, and more seems to be there (I don't have a good photo, so I guess only). I believe these are indoor amenities which are not shared with Park Ave residents. You could enter the lobby at tower 2 (from 100th ave entrance), walk along hall way (with a small water falls view) to get to tower 1. No rooftop garden, Park George residents cannot visit the rooftop on Park Ave East/West. A/C and water (cold/hot) are included in strata. As usual, anything can be changed by developer without notice, or I could be wrong. Please don't rely on my info :-)

[e-clam9]

Originally Posted by MovieBuff

Do you happen to have the pricing for 2 bedrooms? Sq Ft?

Pricing is not officially available yet, or the sales rep did not want to tell me yet... I feel that Concord wants to know how many people are interested to buy before they set the price higher or lower. The rep pushed us to buy in tower 1 first and scared me that tower 2 will be more expensive. My agent expected it to be almost the same as Linea or Avani but without the parking stall and locker. It is like adding additional $25K to $30K to selling price. All parking stalls are electric car ready. Perfect for Tesla :-)

If I decide to get this pre-sale, I may not buy a parking stall. I expect that many stalls should be available for purchase later. I only paid $21K for 2nd parking stall at Park Ave West few months ago. Many residents are renting out their parking stall for $90 or less. PA strata is renting out some visitor stalls for $95. It means $25K can rent a parking stall for more than 20 years !!! With the near by skytrain stations, many people may not need to own a car. It saves a lot of maintenance fee and insurance. Enterprise and Avis are only 15 min. by foot. A few modo cars are available at the King George station parking lot too. Many people are car-less now.

[e-clam9]

email from this web site:

https://www.vancouvernewcondos.com/p...ific-in-surrey

1 Beds Starting from $379,900
2 Beds Starting from $540,000

Plus parking and locker if you want one.

[EhJay]

Picture taken this morning

[GMasterAres]

Originally Posted by e-clam9

email from this web site:

https://www.vancouvernewcondos.com/p...ific-in-surrey

1 Beds Starting from $379,900
2 Beds Starting from $540,000

Plus parking and locker if you want one.

And my condo just went up a bit more...

[Cypherus]

Originally Posted by jhausner

And my condo just went up a bit more...

Agree. 1 bedrooms in Surrey formed a new baseline where $400,000 is becoming the price floor. Interesting when compared to just a few years ago. There is still a lot of upward potential but most of it seems to be with presales due to foreign buyers tax and speculation tax not applying to these units. This helps developers and speculators. But like e-clam9 mentioned, these speculators may think they will make money - enticed by the idea of a presale and buying in low - but if they assign their contract before closing, there is risk that the market 3 years or beyond may correct by then, with additional condo supply in Surrey being available to people due to all the proposed developments down the pipeline; increased interest rates; CRA crackdown on real estate flippers and families with unreported offshore income; potential increases to the foreign buyers tax, and further crackdown on illegal airBnBs limiting uses of condos.

[CoryHolmes]

Originally Posted by Cypherus

Agree. 1 bedrooms in Surrey formed a new baseline where $400,000 is becoming the price floor. Interesting when compared to just a few years ago. There is still a lot of upward potential but most of it seems to be with presales due to foreign buyers tax and speculation tax not applying. But like e-clam9 mentioned, these people may think they will make money - enticed by the idea of a presale - but if they assign their contract before closing, the market may already have corrected with additional supply in Surrey, and they stand to either break even or lose money.

Like any opportunity, it's a gamble. Sometimes you win, sometimes not. I'm very concerned about the markets correcting themselves quickly, so I'm still content to sit on the sidelines for now and keep to my nice condo already