Homes in the development, called “I”, will be offered for sale early next year
Rod Nutt
Sun
Adera’s Howard Steiss says homes are sold faster than the company can build them.
In a departure from its usual construction materials, Adera Development Corp. is planning a concrete mid-rise apartment block in the heart of Kitsilano.
Located at 2137 West 10th Avenue, “I” will contain homes that are scheduled to be offered for sale in early 2004.
Purchase-to-occupancy for concrete condominiums is typically 18 months in Vancouver, but “I” will offer waits of less than six months.
Adera’s commercial division has utilized concrete but “I” will be the first time the company has built concrete homes.
“We are selling homes faster that we can build them,” Adera marketing vice-president Howard Steiss says. “But the demand for homes isn’t tempting Adera to speed up production. We are maintaining the sales path we embarked upon last year.”
Steiss credits customer loyalty for the company’s success.
“We always stood proudly behind what we built,” he says.
Over the last 35 years, Adera has built more than 5,000 new townhomes and apartment residences and in excess of three million square feet of commercial space.
Adera’s most recent projects include:
– Rivers Reach, a 150-condominium development in the Southcove residential community near Steveston, completed just over a year ago.
“It’s fitting that we closed the circle at Southcove since we were the first to build there in 1997 with our Nautica neighbourhood,” says Steiss.
Southcove is a master-planned community linked by lagoons and waterways, fountains, bridges and footpaths. It is also close to the Fraser River.
– Riverstone, 65 craftsman-style townhomes at 7128 Stride Ave. in south Burnaby that offers the buyer an opportunity to customize affordably.
The development is a short walk to the Edmonds SkyTrain station, and Metrotown is minutes a way.
– Sundance in South Surrey contains 195 two-, three-, and four-bedroom townhomes costing from $189,900 to $227,900; the final 100 homes will be built-out by year-end.
The $40-million project is located at the corner of 152nd Street and 34th Avenue.
– The Village in Burnaby offers a mix of west coast craftsman-style townhomes and San Francisco row houses.
– Ledgestone in Burnaby, with 83 stacked townhomes at 7488 Southwynde, has scheduled its grand opening for April 12.
– Denim at 7179 201st Street, Langley offers two-, three-, and four-bedroom townhomes scheduled for release in July of 2003.
– Bridge Business Park at Lougheed and Gilmore offers 330,000 square feet of office and warehouse space.
For more information, log on to the www.adera.com Web site.
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