The first of two condos being sold by Resolve Group went up for sale last month with the majority of the 51 units being taken within the first week. Nearly a month later, 10 units remain and now the developer intends to push plans for construction of the second condominium sooner than originally planned. – Tbnewswatch, August 21, 2012
So 40 units sold out of 51 is around 78 %.
“We’re very pleased with the sales at the waterfront. Tower 1, we are approximately 88 per cent sold out, and Tower 2, we are 52 per cent sold. We’re talking sold. We’ve received final deposit cheques. So they are absolutely sold,” MacDonald said. – CBC Thunder Bay, May 16, 2013
So 88% of 51 is 45 units. So from August 21, 2012 to May 16, 2013 ..five units were sold. Tower 2 still needs to sell another 8% to ensure construction, at least according to Gisele’s April 12, 2012 statement. I believe that those 8% will be sold whether someone buys them or not.
She says the majority of the buyers are from Thunder Bay. – CBC Thunder Bay, May 16, 2013
Imagine..the majority of the buyers are from Thunder Bay. Who else is buying condos here and why?
We have to wait and see whether the waterfront development will be a success. The City of Thunder Bay will still have to pour millions of dollars into that project and so far the results have been very mixed.
Is what we now have $70 million dollars better than what we started with down there? Seventy million dollars better than Marina Park? Worshipers of all things concrete and asphalt seem to believe so.
And what of the much vaunted and continuously delayed hotel? Not a lot being said about it and its future construction date. Will there be one at all?
Hmmm….I hope these local condo buyers are happy with the final product. It is cold down there most of the time but I am sure they already know that.