[CharlesInCharge]

Replacing the old Safeway factory, next to the high school.
Quite a big development. How many thousands of units is this?

Welcome - Southgate City (http://southgatecity.com/)


http://i.imgur.com/PcAT2VM.jpg

http://i.imgur.com/tVy7XfN.jpg

http://i.imgur.com/RLSFghh.jpg

http://i.imgur.com/Pyjumkh.jpg

[bobbinka]

in b4 CIC derails his own thread

[Berzerker]

Where is the conspiracy in this?

Berz out.

[CharlesInCharge]

I think theres 17 buildings with in that rectangular lot... I found a presale site stating 300+ units to one building... so we're looking at 5100-6000 units, thats like 10,000 people right there.
http://i.imgur.com/yvzH92d.jpg
http://webcache.googleusercontent.com/search?q=cache:-yvT_1yqi4UJ:www.presaleburnaby.com/portfolio/south-gate/+&cd=1&hl=en&ct=clnk&gl=ca

For the city\government to allow such re-zoned projects to go forward, longtime (10 years+) commuters that cross two to three cities to go to downtown for work should be given priority and incentives (like discounted car insurance) to buy such places and cut down on traffic. This creates more productivity for all.

Most of the buyers for this place will probably be rat race, slave wage earners that all have to rat to work in the morning and all come back at the same time.

[LC21]

Because you're so entitled.:heckno:

[CharlesInCharge]

Entitled to have less traffic on the road? Pretty soon people will be making threads about which electric bike they should buy instead of cars.

[MG1]

More taxes for Burnaby......... nice!

[320icar]

RIP traffic

[nah]

oh good god, that will be a nightmare for the queensborough bridge and marine drive going south.

[SkinnyPupp]

You think that's bad?

https://www.google.com.hk/maps/place/Tai+Po+Tsai+Village/@22.3366759,114.2599877,746m/data=!3m1!1e3!4m5!3m4!1s0x34040415a58f17ed:0xcfe24 bde2fd7e1ac!8m2!3d22.3376713!4d114.2594818

Around that small village, you can see a 21 residential towers being built.

That's 680 new units, going into an area that only has two lanes of narrow road going to and from it. The transit options are a couple of bus routes that are often packed to capacity due to the nearby university.

Car traffic already backs up for 5-10 KM on sunny holidays due to the nearby beach. Standstill traffic for hours.

When it opens, it is going to be a complete fucking disaster. I have no idea how a project like this was approved.

[Mr.Money]

crap keeps selling.

[320icar]

When it opens, it is going to be a complete fucking disaster. I have no idea how a project like this was approved.


http://www.elllo.org/Assets/images/P1001/1037-460-Bribe.jpg

[whitev70r]

You think that's bad?

https://www.google.com.hk/maps/place/Tai+Po+Tsai+Village/@22.3366759,114.2599877,746m/data=!3m1!1e3!4m5!3m4!1s0x34040415a58f17ed:0xcfe24 bde2fd7e1ac!8m2!3d22.3376713!4d114.2594818

Around that small village, you can see a 21 residential towers being built.

That's 680 new units, going into an area that only has two lanes of narrow road going to and from it. The transit options are a couple of bus routes that are often packed to capacity due to the nearby university.

Car traffic already backs up for 5-10 KM on sunny holidays due to the nearby beach. Standstill traffic for hours.

When it opens, it is going to be a complete fucking disaster. I have no idea how a project like this was approved.

Vancouver will be the new HK!

[Carl Johnson]

Just to show you can't please everyone. Build high rises and people complain about traffic. Don't build high rises and people complain about rising home prices.

On the whole, this is very positive for the City of Burnaby. Development like this one ensure people can still live in the city without having to have long commute.

[FixedG]

Does anyone know when those will become available, and what the prices are likely to be? I may be purchasing a condo in the next few years and this could possibly be an option.

[hchang]

Does anyone know when those will become available, and what the prices are likely to be? I may be purchasing a condo in the next few years and this could possibly be an option.

My guess is 400-500k for a one bedroom and den.

[FixedG]

Ok, I'll be looking for a 2br plus den or 3 br. I know it's hard to forecast prices a few years in advance though, haha. I like that these are new and concrete though.

[dark0821]

^ honestly... at this location.. I wouldn't be surprised they are 800K after all said and done if you want a 2 br + den...

[Mr.HappySilp]

My guess is 400-500k for a one bedroom and den.

LOL even now a one bedroom in a decent desire location is over 450k. My guess with 1bed + deb it will be close to 550k to 600k.

Ok, I'll be looking for a 2br plus den or 3 br. I know it's hard to forecast prices a few years in advance though, haha. I like that these are new and concrete though.

you are looking at least 950k to 1m then according to current market with 2dbed in a good area listing is around 950k +.

[FixedG]

My main concern is that the market will crash as soon as I buy, I could totally see that happening haha. :lol

[MarkyMark]

That's a shitty game to play right now the way prices are rising. Wait too long and you'll be looking at Chilliwack. Chances are if you plan to keep the place for awhile you'll make money even if there is a dip in prices.

[Hondaracer]

Prices will be comparable to City of Lougheed/Brentwood, if not more by the time the presales go up.

2BR+Den will probably start at 700

[Carl Johnson]

My main concern is that the market will crash as soon as I buy, I could totally see that happening haha. :lol

Many people, including me, think like that. I would say just focus on your own situation and not really worry about the market. Analysis paralysis is just as dangerous as not doing any homework before buying something. I would stress the peace of mind of having your own place is the most important factor.

[Selanne_200]

If we can all predict the way the market is going to move, we would all be millionaire. I always go by this, Can i afford this place for myself and does it suit my needs. If the market corrects itself by >30%, will I still be able to make the payments and make ends meet? If so, then a market correction shouldn't concern you unless your intention was looking to flip it for a profit in the first place