(Source: Vancouver Courier)

Some 2010 Olympic spectators went home with more than red mittens as souvenirs following the closing ceremony of the Games last weekend.

According to George Wong, who heads up Vancouver-based Magnum Projects, three luxury suites sold in two high-end towers between Feb. 12 and 28 were purchased by visitors in the city specifically for the Olympics. The most expensive of the suites was a $22.3 million penthouse sold in Three Harbour Green [map], an Aspac Development tower under construction in Coal Harbour, next to what was the Olympic International Broadcast Centre. In total, Aspac sold $31.8 million worth of real estate between Three Harbour Green and The Westbrook [map], located at UBC, to Olympic visitors.

“I believed the Olympics would bring a lot of well-heeled international people and it turned out that way,” said Wong. “And it turned out the timing was right. A lot of people said there was no [real estate] business to be done during the Olympics, but that wasn’t the case.”

Read Sandra Thomas’ full article “Olympic visitors drop millions on local luxury suites” in bclc (March 3, 2010).

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