Infinity Towers

 

Park Place, Surrey, BC

Developer: Jung Developments and Concord Pacific
Status: Sold Out
City: Surrey
Neighbourhood: City Centre
Completed: 2011
Structural Type: Residential high-rise
Storeys: 46
Units: 349

Hugely successful, this 5-tower hi-rise development made it on the front cover of Vancouver’s largest tabloid newspaper after its wonderfully hectic sales launch, which attracted the longest line-ups we’ve ever seen! The first tower sold out in only hours! Built at the foot of the King George Sky Train station in the formerly run-down Whalley neighborhood in Surrey, this address was one of the first new concrete hi-rises to be offered to buyers back in 2006. It made for a tremendous investment opportunity where purchasers could flip, rent long-term, re-sell, use as a second home, or simply live… in the most convenient location in Surrey City Centre…the first skytrain stop on the Expo line. This project was very memorable because it also marked Dimple and Kim’s first meeting point, which was the start of a very important working relationship.

Infinity Towers would contain 900 one and two bedroom suites, in addition to 56 townhouses, with studios starting at $179,900. Shortly after the sales launch of the 3rd tower in 2007, the market took a big hit, after Lehman Brothers (one of the world’s largest financial lenders) filed for bankruptcy during the time of the subprime mortgage crisis. The second and third towers were stranded at the half-way point of the concrete shell for over a year, until Concord Pacific Developments took over and re-named the development “Park Place.” All our buyers were given the opportunity to walk away from their purchase at no loss, however it was in their favour to hang on and wait for the building to complete, as Concord was offering such generous incentives to do so. We couldn’t save them all, but at then end, it was a win-win for all parties involved. To this day, the original and corner-situated Infinity Tower offers unobstructed views like no other in the vicinity.

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