Packages range from $2,500 to $12,000
Peter Wilson
Sun
Hani Lammam of Cressey Developments (left) and Bob Golden of Future Shop show of some of the featured Future Shop products they will work together to provide to buyers of new condos. Photograph by : Stuart Davis, Vancouver Sun
Bose 3-2-1 audio system
Master Bedroom LG 23-inch LCD TV
Bedroom iHome Clock radio for iPod
Vancouver condo buyers can be wired up and ready for everything from cyber-surfing to channel hopping the minute they set foot in their new units as the result of a deal signed Monday by Cressy Development and Future Shop.
The venture — to be launched in late February at Cressy’s new 285-unit, three-tower Lotus project in Richmond — will see buyers being able to choose from three state-of-the art entertainment packages, ranging in value from $2,500 to $12,000, provided by Future Shop.
The packages, which will be covered by the purchaser’s mortgage in the same way as appliances, have each been designed with specific audiences in mind.
There’s one for the music lover, another for the movie buff and a third for the computer whiz.
Buyers who think they fit all three categories can work with a Future Shop salesperson to put together a full entertainment package that includes all the options.
And all of the units at Lotus will be pre-wired to accommodate the home entertainment systems.
As well, said Cressy vice-president Hani Lammam, his company intends to carry this concept through to its future projects although they will vary according to the market at that time.
“The big idea here is to differentiate our product and to offer our consumer more choice and more value,” Lammam said. “It’s included in the purchase price, so it’s basically an upgrade option, but the benefit is that you’re actually getting preferred pricing.”
Future Shop vice-president Bob Golden said that the prices offered to unit buyers will be lower because of the volume purchase being made.
Future Shop did a pilot of the concept at a building that was to house a new Best Buy on Kingsway in Burnaby. It worked so well, Golden said, that they decided to take it to the market with Cressy.
“In Richmond, with Cressy, we’ll have a Future Shop representative there that will be assigned to that family to make sure they get the equipment they want and need. And because it will be such a great opportunity and quite a number of people will probably step up, we can do something special for them by giving them a great product and great pricing.
“I think what we’re offering is some expertise and assistance to the customer and in it all they’ll take advantage of some special offerings.”
While incentive offerings to buyers aren’t unusual in the condo field, the deal between Cressy and Future Shop is different because it’s being done during a boom time in the market, said Greater Vancouver Homebuilders’ Association president Peter Simpson.
“I do know that there have been cars given away with home purchases, but that was a period when it was very slow and they really had to sell their homes. Now nobody has to give anything away.”
Simpson said he didn’t know if the home electronics incentive was a first in the market, but that it was something that would benefit the consumer.
“So, good for them,” said Simpson.
WIRED FOR ENTERTAINMENT
Some samples of the Cressy/Future Shop packages offered to buyers of units at Cressy’s new 285-unit, three-tower Lotus project in Richmond:
Music Lover package for one-bedroom suite (approximately $6,500)
Living Room
LG 42-inch EDTV Plasma
In-wall docking port for iPod
Kitchen
LG15LA6 TV with under-cabinet mount
Living area
Apple iMac Power PC
Bedroom
iHome Clock radio for iPod
Entertainment Lover package for two-bedroom suite (approximately $12,000)
Living Room
LG 42-inch HDTV Plasma
Bose LS48 Home Theatre system connected to iPort
Kitchen
LG 15LA6 TV with under-cabinet mount
In-wall docking system for iPod
© The Vancouver Sun 2006
