Well, we are nearing the end of the first quarter, if you are wondering what is going on with Escala and Olive 8, here is a quick update.
Sales have been pretty consistent at Escala. Ever since the new sales team took over the project a year ago with some realistic price reductions, they have closed about 80 homes with an additional 15 pending for closing. Not bad for a year's effort.
What's interesting is that during my last tour, I had the chance to revisit their E floor plan. This home is facing west with really nice city and water views but it has a huge supporting column with a double sided fireplace in the middle of the living room. The sales team came up with a way to reduce the size of the column. What an improvement! The living space is more open and gives you better views. I thought that was a great idea giving buyer that option to reduce the column size. Check out the before and after pics below.
Escala E floor plan before
Escala E floor plan after
(The drawings are for illustrative purposes only.)
E plans start at $1,089,000 on the east side of the building and $1,249,000 on the west side.
Olive 8 announced they have closed 17 sales since the new year. They have also launched their spring event offering special financing from 1.5% (for a conforming 5 year ARMs, 2.8% APR). In addition, the developer will be covering the closing costs and credit the first year's home-owner dues and health-club membership fees if the purchase closes before May 31st.
Escala's New Pricing
Escala Scaling Prices Soon
Escala Update Dec 2009
Escala Hard Hat Tour
Escala Update February 2007
Escala priority presale event
Escala: Cristalla's biggest competition
Olive 8 Reset Pricing?
Olive 8's Video & Reset Pricing
Olive 8's New Pricing
Olive 8 Auction Results
Olive 8 & 5th and Madison Update
Olive 8 going Auction
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