March 18 2009

Vancouver-based developer Amacon has teamed up with MAC Marketing Solutions (MAC) to develop a unique and first-of-its-kind construction cost savings initiative for the Beasley development in Yaletown, Vancouver. Amacon announced that it will be offering a minimum 22 per cent, or $100,000 to $250,000 discounts, on its Beasley development in Yaletown, Vancouver.

Original buyers will be able to refinance their homes at the newly discounted rates.

This discount campaign is being called the “Pass it on Campaign,” which resulted from long construction negotiations between Amacon and contractors, suppliers and tradespeople. Such negotiations resulted in cheaper construction rates, and the savings are being passed on to the purchaser.

The Beasley is two-thirds sold out with the remaining units going on sale early next month (April 4), but Amacon says it isn’t a ‘fire sale’ because of the tough real estate market. Remaining suites range in size from 436 to 1,334 square feet, with the building being ready for an estimated occupancy in 2012. 

Home sales in Metro Vancouver were down 47 per cent in February compared to the same time last year. The average price of a home sold in B.C. was $421,023 in February, down 12 per cent from February 2008.

Further reading:

Developer slashes condo prices” in the Times Colonist (March 20 2009)

Condo developer slashing prices for pre-sale buyers” in the CBC News (March 17 2009).

Vancouver condo price drop leads to lawsuits and big discounts” in the Vancouver Sun (March 17 2009)

Developer drops the price of pre-purchased condos” in CTV News (March 17 2009)

Condo developer offers rebates to pre-sale condo buyers” in News1130 (March 17 2009)

Yaletown condo developer offers steep discounts” in Metro Canada (March 17 2009)

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