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  #10281  
Old Posted May 4, 2021, 6:43 PM
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Just Spitballing
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Originally Posted by sphinx88844 View Post
Are they doing pre-sales for this project/is there a site for people to put in deposits - I can't find anything yet.
Chances are Amacon is still 4-5 months away from breaking ground. As gopokes21 points out they are spending money and may be able to fund preliminary foundational work before going vertical. That could encompass another six months so there will be plenty of time to do presales.

Amacon is currently working on four towers in Canada. Avia and Avia 2 in Mississauga (near Toronto) are selling from $785,900+. However their Alaska Condos in Burnaby B.C. (near Vancouver) start at $589,900 to over $1,799,900
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Alaska is a new condo development by Amacon currently in preconstruction at 4433 Alaska Street, Burnaby. Sales for available units range in price from $589,900 to over $1,799,900. Alaska has a total of 164 units. Sizes range from 576 to 1547 square feet.
Not sure how comparable to Denver.
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  #10282  
Old Posted May 4, 2021, 7:11 PM
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Quote:
Originally Posted by TakeFive View Post
Just Spitballing


Chances are Amacon is still 4-5 months away from breaking ground. As gopokes21 points out they are spending money and may be able to fund preliminary foundational work before going vertical. That could encompass another six months so there will be plenty of time to do presales.

Amacon is currently working on four towers in Canada. Avia and Avia 2 in Mississauga (near Toronto) are selling from $785,900+. However their Alaska Condos in Burnaby B.C. (near Vancouver) start at $589,900 to over $1,799,900

Not sure how comparable to Denver.
Those are Canadian dollars BTW, I'm sure the Google can help you compare
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  #10283  
Old Posted May 4, 2021, 7:17 PM
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The Dirt The Dirt is offline
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Canada definitely has a lot of foreign money buying up condos, but even there, they have incredibly restrictive zoning. You're either allowed condo towers on 10% of the land (which are expensive to build) or SFH zoning (which ends up driving up land prices) on much of the other. Not much room for missing middle.

For anyone who's curious, here's the conversion.
CAD $589,900 = USD $479,220
CAD $785,900 = USD $638,446
CAD $1,799,990 = USD $1,462,194
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  #10284  
Old Posted May 4, 2021, 7:30 PM
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TakeFive TakeFive is offline
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Excellent Point
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Originally Posted by EngiNerd View Post
Those are Canadian dollars BTW, I'm sure the Google can help you compare
Given the number of Canadian gold miners they could be accepting Gold Coins, Bitcoins, Dogecoins and certainly American $'s

The current exchange rate (which changes every day) is 1 United States Dollar equals 1.23 Canadian Dollar. But given the inflationary pressures building in the U.S. this could change a lot over the next couple of years.

Well Done
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Originally Posted by The Dirt View Post
For anyone who's curious, here's the conversion.
CAD $589,900 = USD $479,220
CAD $785,900 = USD $638,446
CAD $1,799,990 = USD $1,462,194
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  #10285  
Old Posted Yesterday, 7:33 PM
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Originally Posted by DenvertoLA View Post
I'd love to see the Amacon towers built. I'm just worried that private equity and foreign investors are going to eat it up. Does Denver have rule on the books to prevent that ?
Rules that say foreigners and companies (but only certain types of companies) can't buy real estate? Does anybody in this country have those rules on the books?
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  #10286  
Old Posted Yesterday, 9:45 PM
gopokes21 gopokes21 is offline
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Yeah, given that developers and construction lenders are still skeptical of condo unit absorption in our market, I would say anyone who wants to buy a unit should be welcome. Condos are still very challenging in Denver to the point that we really have the opposite problem of Vancouver.
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