With phase II of Port Moody’s hottest presale 50 Electronic Ave release date coming soon, perspective purchasers and realtors across the country are buzzing! As Port Moody serves as one of JSA’s favourite real estate ‘stomping grounds’ I’m not surprised we have had tons of buyers and fellow agents contacting us as their point of reference.
With sales just a couple of weeks away, we’d like to shed some light on why we feel this development is worth all of the hype it has generated:
Located right in the centre of Port Moody just steps away from all of the city’s best amenities. Residents will enjoy being a short 30 minute transit ride away from Downtown Vancouver while having Port Moody’s beautiful natural landscape right at their doorstep. On top of scenic parks, trails, and beaches, Port Moody has developed a very trendy urban scene with famous breweries such as ‘Yellow Dog’ and ‘Parkside‘ along with great dining options like Rosa’s Cucina Italiana and Spacca Napoli where people from all over the lower mainland frequent.
With over 30 years of development experience and an excellent reputation, the Panatch Group has put on quite an extraordinary display. Combining today’s top design trends with quality building materials and appliances, they have created two colour scheme options which are both filled with luxuries a step above competing local developments.
Port Moody Market Conditions
It’s no secret that the last couple years have not been great for home prices, but it appears that change may be on the horizon. With current prices still quite below historic highs and sales now back to typical levels, we are seeing investors flocking back to the market. At today’s prices, with sales back to heathy amounts, many feel much of the risk has been removed and it’s the perfect time to invest in a presale development. We tend to agree, as it was not long ago we remember selling one bedrooms for over $600,000, and with 50 Electronic Ave’s one bedrooms starting at $399,900 we would bet on a great return in two – three years when the building is finished.
Favourable Deposit Terms
Another reason buyers are interested — the favourable deposit the development is offering. With most presales looking for buyers to put down deposits of 20% or more, purchasers here can hold units with deposits of 15% (10% initially then an additional 5% 6 months from acceptance). If you are a first time homebuyer looking to get into the market, you may qualify to put as little as 5% down with a letter of pre-approval.
Luxurious Penthouses w/ Rooftop Patios
Being steps away from Rocky Point Park is one thing, but enjoying the ocean and mountain views from your massive rooftop patio is another! The rooftop patios in phase I of the development were such a hit (especially with ’empty nesters’ looking for a beautiful/active place to live) that they are projected to have nearly DOUBLE the amount in this phase with the entire penthouse collection on the 6th floor boasting these unique patios. The top two floors 5 and 6 also have the luxury of air conditioning in the suites.
Club 50 Amenities
If beautiful units in a scenic location weren’t enough, the development’s amazing 9,000 sqft of amenities surely will be! The development’s Club 50 includes amenities such as a full gym, yoga studio, dog wash room, arcade, co-working space with two boardrooms, indoor/outdoor youth activity areas, a luxurious lounge with huge outdoor patio (perfect for hosting large groups) and even more amenities in the works.
Securing Your Home
If you’re interested in securing your next home or investment in phase II of 50 Electronic Ave make sure to reach out to a JSA representative. As prominent Realtors in Port Moody we have built a fantastic relationship with the development sales staff and can help you make the most of your next home purchase! Whether you’re looking for your first home, an empty nester looking to for exciting and spacious retirement living, or an investor looking for a great return we can help point you in the right direction!