Why would they be attracted to False Creek as an option? Too much leasehold and social housing on the South side, too many homeless shelters and social housing on the North side. Also, it's been identified as prone to flooding if sea levels keep rising. Some parts of he Yaletown section of False Creek have some limited appeal but the real competition for big overseas dollars has got to be Coal Harbour, the abundance of more expensive units makes it's much less "blue collar" and places it on a whole different level of desirability.Shannon Wall Centre builds itself up with considerable hype (Rennie marketing). In that area, not many condo or townhouses. The marketing seems geared towards overseas buyers. But would they prefer to live there rather than False Creek?
The cons pretty much sum up my thoughts on it. A dull area with nothing of interest within easy walking distance. Any charm of the setting has been ruined by the hyperdensity on the site. The kind of people interested are Kerrisdale grannies on their last home or offshore who will go straight from garage to unit and really don't make for welcoming neighbours or vital neighbourhoods.Shannon Wall Centre builds itself up with considerable hype (Rennie marketing). In that area, not many condo or townhouses. The marketing seems geared towards overseas buyers. But would they prefer to live there rather than False Creek?
The current phase is selling about $800-$1,000 psf. The cheapest face the church next door. Methinks that it is rather expensive for South Granville.
Pro: Not many small units in the area. The neighborhood consists largely of larger homes. Some character. Some McMansions. Potential for a +$5m neighborhood.
Con: Far from the action. Too close to Marpole. The developer will deliver a small park on 57th Street (next to estate's pool) for public use. The area is park poor. Likely to see heavy usage.
The biggest problem is that the developer has crammed too much into the estate (seven buildings up to 11 floors). Feels crammed like downtown.
One alternative is the new Cornish Estate (tower with large townhouses) by Westbank at 70th. Looks very nice. The Cornish Street side is pleasant.
Invite the RE experts to offer their thoughts. Who's buying? What's the long term potential? Wait for the development of Marpole townhouses?
Is this the right estate for Red?