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.