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North Van condo seeks buyers in challenging market

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A new condo development in North Vancouver is hoping to attract buyers despite a challenging real estate market.

About 2,500 residential properties sold last month in Greater Vancouver, according to the Real Estate Board. That figure is up more than 52 per cent from the same time last year, but down 14.7 per cent from July of this year.

On Saturday, crowds were lured to a North Vancouver sales office as developers offered a chance to win a free condo at the Beacon, a 24-storey tower on Mountain Highway.

The area is not known for high-end homes, said Nick Askew, president of Pacesetter Marketing.

"That was the first challenge, was to basically let people know this is going to be a great new area in the future," he said.

"We had to offer the general public something that was that much better than what is on the market on the North Shore now."

The Beacon will have 201 condos and five town homes, with suite ranging from $300,000 for one bedroom to $1 million for a penthouse, and is one of three towers planned for the area.