...."on Tuesday, Amacon announced it is slashing prices on a signature downtown Vancouver building where construction has not yet started.
"Amacon said it is cutting prices in The Beasley project by 22 per cent, some $100,000 to $250,000 and more per unit, based on reductions in construction costs for both pre-sale buyers who signed higher-priced contracts last spring and bidders for 70 to 80 unsold units it will release to the public in early April."
"With The Beasley, Cabral said, the company hasn't started construction, and since last summer, the firm has watched as construction costs went down. Amacon plans to start construction on the 33-storey Beasley building at Smithe and Homer this summer, with completion scheduled for July 2012."
"The market has definitely gone through some transition since we started pre-selling," Cabral said. "We viewed [reducing prices], rather than as an obligation, as an opportunity to pass on savings." Vancouver Sun March 17, 2009
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