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An anchor tenant will occupy the majority of the building's 11,000 square feet of ground floor retail space.
Does anyone know why other developers of steel/concrete buildings (are) still pricing at less then what Alpha prices for wood??
the market! alpha charges what they will get.
But everything built by Alpha Project Developments over the past decade has been concrete (Aria in 2009 followed by the Mondrian and Legato; 1400 Quadra is now underway and will be a concrete rental tower).
Are you confusing Alpha and Abstract...?
So much Abstract bashing.............?
Bellewoods may (is) at a premium price per sq. ft. But if you are living in Oak Bay or Rockland and downsizing into a ("NEW") condo from a home you, likely want to stay in the area and not live downtown. So what are your options? Every city has buildings in certain areas that have a niche. Buyers from other provinces that have high property values also find these type of developments attractive, even at the current price points. Affordability is only relative to your own success.
Selling a home at $2-4 million makes Bellewoods a very affordable move
You are right Glen, this is a niche project which is relatively modest in scale. It's only 83 units in total (51 in concrete 6 story Oaks; 23 in frame 4 story Cypress; and 9 frame three-story townhouses). Irrespective of affordability, no one wants to make a bad investment decision, and the retirees purchasing units in this project will have an investment/resale time horizon.
The three components are presumably targeted at quite different groups of buyers. Abstract's challenge will be trying to charge premium pricing for the smaller units, say those less than ~75 sq.m. At some point simply having a Wolf stove and LED closet rods doesn't compensate for a lack of space!
Approximately 1,500-units of condominiums and purpose-built rental apartments will receive occupancy status over the next two years.
The six-storey, 75-unit condo development with ground floor retail space will be completed by late-2018.