Telus Garden

[Warren12]

Some questions answered by TG reps:

1.We do not have any storage lockers, we do have a bike storage room (you can lock your bike to a rack)

2. You will be able to purchase a parking stall at a later date for the amount of $50,000

3. Total deposit is 25% before completion. $20,000 bank draft upon writing. On the 8th day from when the contract was written increase to full 10%. 6 months from when the contract was written another 5%. 12 months from when the contract was written another 5% of the purchase price. 18 months from when the contract was written another 5%. In total 25% of the purchase price would be paid in 1 1/2 year time.

4. estimated completion is June 2015

5. for the floors that are missing have different floor plans and are only on a couple of floors. The floor plans that was sent to you are of the ones that are typical floor plans.

$50k for parking! I buy 3, my wife buy 3!

You get 18 months to come up with the 25% deposit, not bad.

[DAB]

What about if you take a loss on it? Can you write off the loss? It is a risk after all... as much as I hate speculators.

If you sell it within a year, you can probably take it as a 100% loss cause your intention is to flip

[DAB]

Some questions answered by TG reps:

1.We do not have any storage lockers, we do have a bike storage room (you can lock your bike to a rack)

2. You will be able to purchase a parking stall at a later date for the amount of $50,000

3. Total deposit is 25% before completion. $20,000 bank draft upon writing. On the 8th day from when the contract was written increase to full 10%. 6 months from when the contract was written another 5%. 12 months from when the contract was written another 5% of the purchase price. 18 months from when the contract was written another 5%. In total 25% of the purchase price would be paid in 1 1/2 year time.

4. estimated completion is June 2015

5. for the floors that are missing have different floor plans and are only on a couple of floors. The floor plans that was sent to you are of the ones that are typical floor plans.

$50k for parking! I buy 3, my wife buy 3!

You get 18 months to come up with the 25% deposit, not bad.

I am not surprised. For buildings that have less than 1 parking per unit, you can get a premium on it.

I heard someone that bought one of the penthouses at Capitol Residences paid $70k for his spot.

As for the deposit, sure you get 1.5 years for 25% down, but you have your money sitting there for another 3-4 years doing nothing.

[red_lantern]

Word has it that most of the buyers will buy for rental purposes so be prepared for rental frenzy with noisy tennants running amok.
The only view that you will have (other than the building directly across from you) will be another building that will be across from you. Yup, so those nice views in the advertisement are a bit deceiving, those may come from the penthouse but I doubt it.

Word from where? The voice in your head?

Cheaper, smaller 2 bedroom units sell as rentals. Places like Spectrum which are (relatively) cheaply made and sparse. They are full of rentals.

Telus Garden looks marketed to a slightly higher end, higher quality furnishings, etc. It doesn't make sense to rent those. Plus who buys a pre-sale to plan to rent? If you're a landlord investor, you buy good product that can start generating income tomorrow.

Who will be buying you asked? Good Question. Short answer is: MAINLAND CHINESE!!!

[Kronfeld]

Most of the building will be owned by Telus employees. The response has been phenomenal. Mainlanders may always be part of the mix in any development as this is sport to them but in the case of TG, much less so.

[westar99]

Who will be buying you asked? Good Question. Short answer is: MAINLAND CHINESE!!!
----------------------------------------
The question should now be asked "Who bought?"

I just came back from the VIP pre-view and the one bedrooms were already sold out -- - mainly to Telus employees who were given priority over everyone even the VIP rich Asian investors. I think the company was encouraging it's staff to live close to work and to buy into the project. The two bedrooms were selling briskly as well to the usual rich Asian crowd (all represented by realtors at this private viewing) who were fiercely competing with each other to get these suites which in fairness looked quite good especially compared to what I saw at Marine Gateway. Good floorplans, good quality finishings (real hardwood not the laminate seen at Marine Gateway) and good common areas. Yes - I bought this time (a spacious 2 BR with parking included and lots of balconies) for a per square footage price point that was not much more than Marine Gateway which had inferior finishings, floor plans and location. It seemed like value to me and it was one of the last ones left.

[unicas]

I got a call from a client who is going to be a sub contractor of the project. He said he got VIP invitation to view and offer to buy a over 1100 sqft unit on the 20 something floor for under 630,000. I thought I heard it wrong. How true is this? He said earlier purchasers already talking about flipping the assignment. I believe he told me this Saturday is the first open day to public. Apparently big crowd expected.

[westar99]

The prices were more reasonable than I thought. Lots of units were sub $700 even with parking. The Telus people got first dibs and they bought. That said, it is almost all sold out and there was talk at the centre that they would be cancelling the public viewing.

[westar99]

What I found attractive and one reason why I bought was that it seemed the corporate developer wasn't just trying to maximize their profit and minimize their costs at the expense of the purchasers. Rather, the project seemed to be about creating a showcase corporate HQ with some employee housing on site.

[Warren12]

What I found attractive and one reason why I bought was that it seemed the corporate developer wasn't just trying to maximize their profit and minimize their costs at the expense of the purchasers. Rather, the project seemed to be about creating a showcase corporate HQ with some employee housing on site.

My wife and I liked this development a lot, and I've been keeping tabs on them for years. However the deal breaker (IMO) was the location. Very central downtown, the definition of "urban". No parks or water within reasonable distance. Living on the edge of False Creek now, we recognize how important it is to our satisfaction level of living downtown.

Congrats.

[Smokie2069]

I was offered this as well . 29th floor facing east 1 bedroom for 365k +gst . I Didnt pull the trigger cause like many have said it doesnt get built till 2015 and 25% monies will be no generating anything unless one speculates this property to go skyrocket . Really it's a 1 bedroom with no parking spot . How much does one think it will be worth in 3 years ???? I said not a whole lot more and who knows maybe a loss if market ever turns . Any comments ???

[Smokie2069]

Do you think people will buy presale contracts ?

[Warren12]

Well here you go:

The day you've been waiting for is finally here. We invite you to a one-day only preview Sunday March 25, 12-5pm at our Discovery Atrium located at 768 Seymour Street.

Public response has been sensational, and the TELUS employee community has embraced this project in overwhelming numbers. They believe in the development team, the location, and the investment potential and leapt at the opportunity to be first in.

While that does mean that some of our homes have been sold, we have a variety of 2- and 3-bedroom homes throughout the tower, many with stunning views. Homes are priced from $679,900 and include parking.

We do apologize if you were looking for a 1-bedroom home, but we strongly encourage you to explore areas in the tower you hadn't previously considered.

You won't want to miss your opportunity to be part of Vancouver real estate history.

[DAB]

Well here you go:

The day you've been waiting for is finally here. We invite you to a one-day only preview Sunday March 25, 12-5pm at our Discovery Atrium located at 768 Seymour Street.

Public response has been sensational, and the TELUS employee community has embraced this project in overwhelming numbers. They believe in the development team, the location, and the investment potential and leapt at the opportunity to be first in.

While that does mean that some of our homes have been sold, we have a variety of 2- and 3-bedroom homes throughout the tower, many with stunning views. Homes are priced from $679,900 and include parking.

We do apologize if you were looking for a 1-bedroom home, but we strongly encourage you to explore areas in the tower you hadn't previously considered.

You won't want to miss your opportunity to be part of Vancouver real estate history.

I was interested in a one bedroom in the development but given this info, why bother showing up unless just to see the development plans. It looks like the TELUS employees scooped up all 1 beds and only the high end ones are left.

[tdma800]

anyone going to lineup ?