More on Surrey Developments. Who is going to buy all of these condos?
Ooooh, ooooh, ooooh, I know, I know - - - - - IT'S THE SPECULATORS SILLY. Very few of these people are actually buying these units to actually live in them. Housing is not for living in, it's for investing dummy!
By Kevin Diakiw - Staff Reporter - Feb 23 2007
21- and 25-storey structures planned for 108 Avenue and West Whalley Ring Road. Two more huge residential towers are in the works for Whalley. Century Group Lands Corporation plans to build two structures – 21 and 25 storeys – at 108 avenue and West Whalley Ring Road. Total cost of the project is expected to be about $75 million. Located across the street from the Gateway SkyTrain station, the towers will contain a total of 452 suites. Graham McCollum, vice-president of development for Century Group Lands, said if all goes well, the buildings should be complete by 2009. The project proposal will go to public hearing Monday. It’s the second large project announced in the Whalley area in the past week. An 1,100-unit project was announced Monday, only a few blocks away on 108 Avenue. McCollum said the area is gaining market momentum. “This particular area is obviously an area in transition, so we want to be part of it,” McCollum said, adding access to SkyTrain was key in choosing the location. He predicts more development like it in coming years. “I bet 10 years from now, that area is going to look totally different than it is now,” McCollum said. The project is before Surrey city council Monday at 7 p.m.
Land rush in Whalley
By DHARM MAKWANA, 24 HOURS
Residents in North Whalley should get ready to welcome new neighbours. Quattro Phase One, a 140-new home development near Gateway Station, sold out in four hours, scooping up $36 million in the process. Homebuyers lined up hours in advance to lay claim to the Lower Mainland's least expensive housing project with units starting as low as $119,900. The 10-acre development has drawn so much attention that the second building will be fast tracked, giving priority to bidders who missed out on the first building. In total eight buildings will be constructed, offering units that increase in price at $10,000 increments.