Large Multifam Dev in Hot Vancouver BC Suburb

[Tay Huang]

My friends and I are considering a large mult-family project that would involve significant financing. We don’t have experience wth projects this size. We want to ensure we’re considering potential pitfalls and optimizing our approaches to everything else. 

What I find concerning, is this parcel, located in a high-demand Vancouver suburb that has been experiencing double digit returns despite interest rate hikes, appears to be priced right, but has been listed for more than 30 days.

It’s the $9,5 million parcel listed in Port Coquitlam, BC.  The numbers we ran look really good. What are we missing? Why is it still listed?