This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
User avatar
Hopes
Real Estate Talker
Topic Author
Posts: 199
Joined: Fri Feb 03, 2006 6:25 am
Location: Vancouver
Contact:

Marine Gateway Condos Cambie and SW Marine

Mon Jan 09, 2012 11:01 pm

I drive by the signs daily and wanted to know what everyones thoughts are on this developement. One of the signs out front says 1 bedrooms from $270k, but I'm guessing it'll be small like 500 sq feet.

http://www.marinegateway.ca/development/index.html
 
thinktom
Real Estate Talker
Posts: 1695
Joined: Tue Jan 16, 2007 2:51 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Thu Jan 12, 2012 12:08 pm

Yes, they will be small at that price. also, it is obviously a very busy area of the city and don't forget the airplanes. The main draw will be location to public transportation and thoroughfares to other parts of Greater Vancouver.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Thu Jan 12, 2012 3:51 pm

I don't think the airplane noise will be that bad, the flight path is about 1.5km south of that point. If you're an airplane buff and face south you might like it. Some of the developments in Richmond you'll need earmuffs.
There is no shame in overpaying
 
rofina
Real Estate Talker
Posts: 1552
Joined: Fri Feb 06, 2009 6:39 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Thu Jan 12, 2012 5:01 pm

Good location. Proximate to Oakridge, South Cambie, Richmond and located right on the Canada Line. This development will have lots going for it. I also understand that commercial buildings are going up as part of the permit in addition to Save-On Foods.

Sounds good to me if it can be had at a reasonable price, which I think is possible due to the significant density the developer will get out of the land.

Ill be keeping an eye on this development, should prices decrease during construction, it may be a great area to invest in. Renting units out shouldn't be difficult.
 
User avatar
Warren12
Real Estate Talker
Posts: 1252
Joined: Sun Mar 25, 2007 10:51 am
Location: Vancouver
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Mon Jan 16, 2012 12:36 pm

It is a great location, I often go by on my way to work. I think this will be a nice area in 5 years.

Time will tell, but so far the Canada Line is 10x better than the Expo and Millenium lines. Likely due to the areas it goes through.
 
User avatar
hazuchan
Real Estate Talker
Posts: 164
Joined: Mon Jul 20, 2009 10:01 am
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Mon Jan 16, 2012 1:46 pm

There is also a new commercial development a couple blocks east of there on Marine, between the McDonald's and Wendy's, where there'll be a new Canadian Tire, Best Buy, Mark's, and Marshall's (the american clothes retailer).

I wonder there'll be more of these kinds of big box stores along this strip. There already is a Superstore at Main and Marine.
 
feisto
Real Estate Talker
Posts: 47
Joined: Tue Oct 24, 2006 3:51 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Mon Jan 16, 2012 2:27 pm

Marine Gateway is located immediately north of the Vancouver waste transfer facility (the place where all the city's garbage goes). I don't know how happy the residents will be once they move in and open their windows in the summer. :shock:
 
User avatar
hazuchan
Real Estate Talker
Posts: 164
Joined: Mon Jul 20, 2009 10:01 am
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Mon Jan 16, 2012 6:07 pm

I have some familiarity with this proposal, and I believe the city and the developer will be contributing funds to mitigate odours.
 
User avatar
Hopes
Real Estate Talker
Topic Author
Posts: 199
Joined: Fri Feb 03, 2006 6:25 am
Location: Vancouver
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Mon Jan 16, 2012 8:03 pm

Marine Gateway is located immediately north of the Vancouver waste transfer facility (the place where all the city's garbage goes). I don't know how happy the residents will be once they move in and open their windows in the summer. :shock:
Good point, I guess you're talking about the station over on Kent Ave.
 
westar99
Real Estate Talker
Posts: 121
Joined: Mon Sep 19, 2005 7:44 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 9:36 am

I just had a look at the pre-sale centre yesterday - big crowd there - they are not on sale yet but they have price ranges and plans out. It seems the units are somewhat smallish - 500 sq. average feet for one BR, smallest 2 BR was 640 sf. Prices start around $270,000 but that would be a 470 sq. ft. unit without parking. Probably to get a decent 1 BR unit with parking you would be looking at $340,0000-$360,000 I am thinking. 2015 is the completion date. Does anyone have any more thoughts on this development and whether it would be an OK purchase?
 
rofina
Real Estate Talker
Posts: 1552
Joined: Fri Feb 06, 2009 6:39 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 10:01 am

I just had a look at the pre-sale centre yesterday - big crowd there - they are not on sale yet but they have price ranges and plans out. It seems the units are somewhat smallish - 500 sq. average feet for one BR, smallest 2 BR was 640 sf. Prices start around $270,000 but that would be a 470 sq. ft. unit without parking. Probably to get a decent 1 BR unit with parking you would be looking at $340,0000-$360,000 I am thinking. 2015 is the completion date. Does anyone have any more thoughts on this development and whether it would be an OK purchase?
At those prices there is no value there, and you take on all the risk. There is lots to choose from on the market today as far as 1 and 2 bed condos are concerned, why take the risk at those prices purchasing a pre sale? Can't say that I see the value in it from that perspective.
 
westar99
Real Estate Talker
Posts: 121
Joined: Mon Sep 19, 2005 7:44 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 1:29 pm

I hear you. Of course by the time 2015 rolls around, BC could very likely have an NDP government and a stalling economy. Interest rates likely will be higher, too. Who knows what will happen by then to RE prices?
 
User avatar
DAB
Real Estate Talker
Posts: 2643
Joined: Fri Nov 16, 2007 9:39 pm
Location: vancouver
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 1:45 pm

I just had a look at the pre-sale centre yesterday - big crowd there - they are not on sale yet but they have price ranges and plans out. It seems the units are somewhat smallish - 500 sq. average feet for one BR, smallest 2 BR was 640 sf. Prices start around $270,000 but that would be a 470 sq. ft. unit without parking. Probably to get a decent 1 BR unit with parking you would be looking at $340,0000-$360,000 I am thinking. 2015 is the completion date. Does anyone have any more thoughts on this development and whether it would be an OK purchase?
u can do better with downtown older units. they have priced in a huge premium on new units.
 
rofina
Real Estate Talker
Posts: 1552
Joined: Fri Feb 06, 2009 6:39 pm
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 1:46 pm

I hear you. Of course by the time 2015 rolls around, BC could very likely have an NDP government and a stalling economy. Interest rates likely will be higher, too. Who knows what will happen by then to RE prices?
Ignoring all that, if you are bullish on condos for whatever reason, why not shop around for discounts in existing buildings. With the amount of listings it shouldn't be too hard to find a motivated seller.

It takes a specific market to profit on presales, I don't think we are there.

I welcome opinions. Why would someone be interested in buying a presale condo today, and what possible advantage may that offer over purchasing existing?
 
User avatar
DAB
Real Estate Talker
Posts: 2643
Joined: Fri Nov 16, 2007 9:39 pm
Location: vancouver
Contact:

Re: Marine Gateway Condos Cambie and SW Marine

Sat Feb 11, 2012 2:07 pm

I welcome opinions. Why would someone be interested in buying a presale condo today, and what possible advantage may that offer over purchasing existing?
they dont need to take out a mortgage. only need 5-10% down and hope the appreciation kicks in down the road for a flip.

Who is online

Users browsing this forum: No registered users and 23 guests