Latest Bulk Condo Discounts
Another new home price cut incentive is be launched next week by MAC Real Estate. Price reductions are at Intergulf's Cora condos in Coquitlam; Embassy's Legacy towers in Burnaby, and Amacon's Edgebrook in Abbotsford. Legacy and Cora projects are complete. The Edgebrook is an interesting situation: the building has not been pre-sold though it is 90% complete.
Here are the details on the MAC Bulk deal:
Legacy in Burnaby. This is by Ryan Bosa's company Embassy: There are 34 units left in the 2 towers next to the Holdom Skytrain station, Burnaby. Discounts up to $89,000.
Examples: 2 bedroom condo, 1,366 sq. ft. was $560,000 now $499,000
1 bdrm, 713 sq. ft. Was $333,000 now priced at $269,000. There is also a 2 bdrm penthouse, reduced from $635,000 to $549,000. There is no discount for buyers who bought when the building sold 2 years ago; this is only for new buyers. Condos are ready for occupancy.
Cora in Coquitlam. Intergulf project on the Coquitlam/Burnaby border at 555 Delestre Ave, Coq.
74 units left out of the original 248.
Examples of discounts: 2 bdrm and den 944 sq ft. Was $518,000; now $349,000
1 bdrm, 650 sq. ft. was $358,000; now $274,000. Townhouses: 4 left all 1,290 sq. ft 3 brdrms. Was $518,000; now $399,000 (at $309 per square foot, this may be the best deal in the MAC BULK package).
Discounts only apply to new sales. Condos ready for occupancy.
Edgebrook in Abbotsford by Amacon: There are zero sales in the project in downtown Abbotsford, but it completes in 6 months. No prices released yet. Direct phone lines for MAC Bulk deals are 604-633-9988 or 604-880-1880. According to MAC, the plan is to sell all the units out within a month.
Major Point: As we said before, your best deal is likely in the new construction area. Developers may face pressure from banks for sales, the competition offers lower prices and if you come with cash ... you just may get that deal of a lifetime.