The Receiver of H+H Yaletown decides to clear out all remaining units.
Friday, February 6th, 2009The receiver (www.bowragroup.com) decided to drop the prices to clear out all the remaining units in the Homer + Helmcken Yaletown building.
They will be accepting offers on site this weekend (Feb 7,8 2009).
There was an open house during the last 2 weekends.
Posted prices were from $266K for a 533 sq. ft studio to $599K for a 1273 sq. ft townhouse with Homer street and hallway entrance. My favourite (value wise) was the 605 unit: 2 Bedrooms + Flex (small office), 1 Bathroom, 721 sq. ft for a listed price of $379K
Some units are nice, but i think the pricing is not that great yet.
See the Bowra Group website for full details.
I believe the developers in Vancouver area are scared and are trying to unload inventory before a bigger price drop materializes.
Realistically, 500 sq ft downtown should be about $200K