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Garden City Residences On a Park
The Garden City Residences is consisted of 2 nineteen-storey high-rise towers and the condos are designed with glass and concrete construction. Joining the 2 high-rise towers, the project incorporates 20 townhomes with private patios to cater to home buyers who prefer a townhouse residence. The residences are consisted of one bed, one plus den, two bed and two+den townhomes. There are some luxurious penthouse suites for buyers who favour them.
Garden City Residences offer some of the most luxurious homes in the city. Higher-level condos enjoy the views of Northshore mountains, Mount Baker and Garden City Park.
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The McLennan North Neighborhood
As part of this master planned residential community is 21 acre Garden City Community Park planted with shrubs, flower plants, lake, park picnic benches, kids playground, walking/jogging trails, etc.
Other residences at McLennan North sub-division are consisted of the Katsura/Hampton project, Mandalay, Fulleton, etc.
According to the MLS listing information, there are now 57 1, 1 + den, 2 and 3 bedroom condos at the above high-rise project available for sale. These condos units are available for sale from the Receiver Manager after the developer ran into financial difficulties. It may be assumed that buyers for these presale condos did not accept the new prices offered by the Receiver Manager, and agreed to cancel their contract and their deposits returned to them.
These new condos are now priced from around $410 for lower level units to $490 per sq ft for the higher levels units. Most of the condos are priced from $435 to $465 / sq ft. These units are directly competing with condos that are offered as assignment sale at Versante that are priced around this price range. Adjacent to the Garden City Residences are the more luxurious Mandalay mid-rise condos by Cressey's Development.
The Garden city Residences condos can be compared with recently completed high-rise condos at Acqua by Bosa Properties, Ocean Walk, Lotus Living, Flo, Paloma, etc. These resale condo units are priced at $460 to over $500 per sq ft inclusive of GST. The cost per sq ft on the GST component and transfer tax paid by these condo sellers is estimated to account for around $20 per sq ft.
For more information on any of the above condos, kindly contact James Wong 604-721-4817.
