$23 Million in Just Hours!

by Kevin Diakiw - Surrey North Delta Leader - May 07, 2008

A real estate frenzy continues in North Surrey, where $23 million worth of apartments sold in less than four hours over the weekend. Almost 10,000 people registered for the third phase of Quattro, a residential apartment project near 108 Avenue and King George Highway. The 109 available suites sold in less than four hours.

“The energy for the sale was fantastic. The suites sold as quickly as we could offer them,” said Bill Morrison, partner of PilotHouse Real Estate Marketing, who has orchestrated all of the Quattro sales. “At least half the buyers intend to live in the suites they purchased, so it’s apparent people want to be a part of the new downtown area in Surrey with its close proximity to SkyTrain and other amenities.”

Saturday’s sell-out was the third wave of brisk buying at the development. Building one in Quattro sold out in February 2007 in four hours. Less than a month – and 7,500 registrants – later, building two sold out in an unprecedented 67 minutes. The first building is expected to be finished for occupancy this fall. Construction of the second building is well underway.

Quattro is a six-phase development located on 10 acres of property at the corner of 108 Avenue and East Whalley Ring Road in North Surrey. Suites in the third phase began at $139,900, and range from 407 to 1,215 square feet.

Condominium and strata property law in British Columbia can be complex. If you're ready to buy, be sure you know what you're getting into. Have a professional realtor advise you, regardless of whether the homes are new or re-sale.


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