Developer eyes local market over foreign one to sell Vancouver penthouse

WATCH ABOVE: Delta Land Developments president Bruce Langereis discusses a new luxury penthouse in downtown Vancouver and the qualifications he’s looking for in a buyer.

It is a common complaint of Metro Vancouverites – foreign homeowners driving up the cost of real estate.

But the developer of one luxury penthouse is looking for a local buyer, or an aspiring Vancouverite, to own that property.

“We’re doing local marketing versus overseas marketing,” said Bruce Langereis, president of Delta Land Developments, which built the property. “I’m going to sell to anybody who comes to Vancouver, who wants to buy in Vancouver, locals and / or visitors to Vancouver, as opposed to just to locals.”

The penthouse is located  on the 48th floor of the Hotel Georgia. It has a 360-degree view and is 6,830 square feet. The price tag is $18 million.

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“It’s waiting for someone to come and finish it the way they want it,” said Langereis.

He said they have had interest from local business owners and from overseas buyers.

“We’re big on promoting culture in buildings,” said Langereis. “Each building is like its own neighbourhood and having a good culture in that neighobourhood is important. If you have someone that lives in a building that isn’t connected to the rest of the constituents in that building, it’s always a lost opportunity. We’re always encouraging that.”

He said he does not think Delta Land Developments is doing anything special in its marketing approach, but they are not advertising overseas.

As the penthouse is connected to the hotel, residents will have access to the concierge service, spa, pool and fitness centre.

Credit: Delta Land Developments.
Credit: Delta Land Developments.
Credit: Delta Land Developments.

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