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jimtan
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Red Lantern - Shannon Wall Centre?

Wed Apr 29, 2015 12:31 pm

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?

http://shannonwallcentre.com/


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?
 
red_lantern
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Re: Red Lantern - Shannon Wall Centre?

Wed Apr 29, 2015 10:42 pm

Hmm...I might like it, what's the asking for a corner unit that has a decent outlook? Seems most you look across at your neighbours.
 
jimtan
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Re: Red Lantern - Shannon Wall Centre?

Thu Apr 30, 2015 7:04 am

Best thing is for you to check out the presentation center yourself. I've listed a number of negatives based on my POV. You may find some virtues.

Phase III is selling two buildings; Hudson House and Adera House.. Hudson House looks onto an a roadway (I think?) and has more unsold units.

I was interested in the One Bedroom + Flex units. Hudson #205 has a patio. 652Sf and $519k. Adera House #204 (1 bed and den) is a corner unit. 594sf and $579k. Really large patio. They indicated that a $10k move-in allowance is possible.

Get your package with floor plans from helpful Latasha at the reception.

There aren't many small units in the prime areas. So, you have to grab them (if you must live in a prime area) once they are offered. Don't know when they will be offered again as resale.

My advice (if you must live in a prime area) is to find something small and comfortable. Make sure it is the right one. Make it into your home while you wait for your inheritance. Ask your family to help with the down payment.

Good luck. There will always be demand for prime property.

“'Thin home' sells for $1.35M in Vancouver's Point Grey”

http://www.cbc.ca/news/canada/british-c ... -1.3051838
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Geyser
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Re: Red Lantern - Shannon Wall Centre?

Thu Apr 30, 2015 11:36 am

Jimmy wrote:
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?
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.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
Justice
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Re: Red Lantern - Shannon Wall Centre?

Sat May 02, 2015 11:29 am

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?

http://shannonwallcentre.com/


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?
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.

Pass.
 
jimtan
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Re: Red Lantern - Shannon Wall Centre?

Fri May 22, 2015 11:41 am

:mrgreen:

Today was a free translink day because of the breakdown of the Expo line. Took the opportunity to ride the Canada Line and buses along the Cambie corridor. Looks nice. Many new smallish apartment blocks along Cambie Road from Prince Edward Station to 57th. Some as high as six stories. Some claim to be luxury projects.

The area is not as swanky as that around $hannon Wall Center. But, the price is lower. Most important, the area is low density and near Canada Line stations. :D

Go for it!

BTW, #Don'tHaveAMillion is having a rally at the Art Gallery Saturday at noon. Be there or be square!
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jimtan
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Re: Red Lantern - Shannon Wall Centre?

Sat May 23, 2015 5:42 am

Thanks Mr. Obvious! :roll:

Sorry, The #DontHaveAMillion rally is on Sunday!
 
jimtan
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Re: Red Lantern - Shannon Wall Centre?

Sun May 24, 2015 2:44 pm

That was a nice rally at the Art Gallery.

http://www.cbc.ca/news/canada/british-c ... -1.3085729

FIVE HUNDRED people attended. Many of them educated and young. See photo below.

The Carnival Band warmed up the crowd. Then, Eveline Xia had her moment. Soft spoken and educated, she made a good impression on me. Warning against indifference and racial bias, she urged Vancourites to pressure the politicians.

“How can we be expected to compete for houses, condo... with the world's millionaires and billionaires?”

Exhorted the governments to collect data about foreign ownership. Change the property transfer tax to favour locals and first time buyers etc.

So, there it is. Don't waste your time trolling in the forums. Go out there and build your future. Follow Ms. Xia's example.

BTW, Mayor Sunshine and his colleagues are on target ...

“Vancouver closing in on goal of securing 5,000 new market rental housing units by 2021”

http://www.straight.com/news/455796/van ... units-2021
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jimtan
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Re: Red Lantern - Shannon Wall Centre?

Sun May 24, 2015 2:53 pm

While Charlie Smith has this to say...

"The #DontHave1Million rally at Vancouver Art Gallery spurs mealy-mouthed response from Mayor Gregor Robertson"

http://www.straight.com/news/456961/don ... yor-gregor

:mrgreen:
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jimtan
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Re: Red Lantern - Shannon Wall Centre?

Thu May 28, 2015 5:41 pm

There's a new project at PARC 26 near the Prince Edward Station. How much would it rent for? $3 psf?

Any thoughts about buying?

http://parc26.com/
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rMBA13
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Re: Red Lantern - Shannon Wall Centre?

Thu May 28, 2015 11:19 pm

Gregor has justbsold his house. Now he can push down the housing market.

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