Bosa Properties is not letting sluggish sales across Metro Vancouver deter its plans to break ground on new condominium projects.
The company will today break ground on its 30-storey, 193-unit Evergreen condominium project in Coquitlam.
Sales launched last June and 116 units have been sold.
“We at Bosa Properties are very confident in the current and long-term state of this market and are pushing ahead with our Evergreen tower as a result,” said Bosa CEO Colin Bosa.
“While some may point to slower sales data from the past few months as a cause for concern, we take a contrarian view.”
Bosa said few condominium projects have recently broken ground that will be complete in two to three years.
“We look forward to that time and see appreciation in value,” he said of his project, which is near a station on the future Evergreen SkyTrain line.
Evergreen is the final tower in Bosa’s masterplanned Westwood Village project, which is next to Coquitlam city hall at Glen Drive and Pinetree Way.
“Downtown Coquitlam is a new emerging town centre within the Lower Mainland and a new focal point for transit-oriented development,” he said.
Bosa is also building four other towers and mixed-use projects in Burnaby, New Westminster, Victoria and Vancouver.
