Olympic Village and their Pricing...too high?

Will the Olympic Village be reducing their prices in order to generate sales?

Apparently Rennie and Associates Realty, the RE group doing the marketing for Millennium Water at the Olympic Village confirmed that they are going to be launching a fall sales campaign in mid-October with buyer incentives.

So far only 254 of units have been sold, most of which were all sold in the pre-sale of 2008. There are still 483 units that remain empty and unsold.  The average price range is from about $500,000 for a 1 bedroom condo with about 550 sqft no view to around $10 million for a very high end 3000sqft+with amazing Vancouver Skyline views. The average ppsf is currently around $1000/sqft!

This seems like a lot of money to spend to have to take the Canada line to get to work everyday. Yes you are close to The Downtown Core but you still need to commute to downtown and buyers looking at making at purchase at The Olympic Village will pay more then some of the high end downtown Vancouver waterfront buildings.

Millennium Developments, still owes city taxpayers more than $700 million. Earlier this month they made a payment close to $200 million and are scheduled to make another payment in January. However, before that payment can happen, they need to drive up their sales and increase cash flow.

Best deal currently listed on MLXchange in the Olympic Village?

1 bedroom and den, 659 sqft priced at $474,000

For more information about this project contact Chantal Vignola at 604-417-4457 or email me at chantal.vignola@century21.ca


There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Chantal Vignola

Chantal Vignola

CENTURY 21 In Town Realty
Contact Me

Blog Archives