Stronger than expected condo sales are helping Vancouver’s former Olympic Village become one of the city’s coolest new neighbourhoods.
Better yet? The condo sales are helping reduce the city’s debt.
In an article in Business in Vancouver, Bob Rennie from Rennie Marketing Systems said that “sales are ahead of schedule.” He went on to explain that “I didn’t think [in early 2011] that I would bring Canada House to market until September of this year. We have now sold 47 of the 60 Canada House units.”
According to the article, recent sales have helped the city cut its debt to $323 million and future condo sales are “likely to knock at least another $100 million off that debt.”
Not only are condo sales strong, all the retail space in the area is leased. This includes a newly opened 17,000 square-foot London Drugs.
Between the retail space and the condo sales, it sounds to us like Vancouver’s former Olympic Village could turn out to be one of Vancouver’s most vibrant neighbourhoods in years to come.