Luxury Condo Announced for Downtown

Posted November 15, 2013 by Heather Colpitts (Langley Advance)

A new $55 million condo development was unveiled at Langley City hall Thursday afternoon.

P2000 Developments president David Phan spoke at a Thursday afternoon ceremony to announce the
project. Photograph by: Heather Colpitts

P2000 Developments president David Phan spoke at a Thursday afternoon ceremony to announce the project. Photograph
by: Heather Colpitts

Luxury condos in a 1920s-inspired 15-storey building are coming to downtown Langley City.
The Calgary-based developer, P2000 Developments, was able to negotiate a buyout with the Citrus nightclub, which
is leasing the existing building at 203rd Street and Industrial Way.
P2000 president David Phan said he knew the property owner and the land came up for sale and his company met
with the City in 2005.
Charleston Place condos will start at about $380,000 and go up with sizes ranging from about 850 square feet to about 2,000.
The flat-iron shaped building is inspired by New York style vintage architecture and will be made out of concrete.
We love the old style, Phan explained to the Langley Advance.
There are 230 covered parking spaces for the retail space and another 80 for the tenants. There will be between 46
and 52 concierge condo units.
The seventh floor features a roof-top garden/outdoor area. Despite the current economy, hes pushing ahead with the project. I believe there is a market, he said. There is no buildings downtown that allow you to have strata title, commercial strata title.
The commercial strata units will go up for sale before the residential units. Phan expected that to happen starting
around October 2012. The project completion is slated for December 2015. We have identified some anchor tenants, Phan said.
The intent is to have professional office style tenants such as a pharmacy, doctors, medical services, lawyers, and
such.Phan said that the tenants can easily access the nearby entertainment amenities but the building itself is intended as a quiet place for established professionals.
He added that it should be a catalyst for further development in the downtown area.P2000s first foray into B.C. was a development of beachfront vacation townhouses at Penticton but the project is onhold due to a soft recreational housing market.
The existing building is scheduled to be demolished in March 2013. Phan offered to let City Mayor Peter Fassbender
drive the bulldozer.
The mayor said the area has been the site of many problems over the years so he welcomes this development. We think it is the next piece of the puzzle in our vision [for downtown redevelopment], he said. The development should also help the bottom line of surrounding businesses, he added. I cant wait to drive over the overpass and see this, commented City Councillor Teri James, who is also the executive director of the Downtown Langley Business Association.


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