The Censorio Group announced an aggressive option to lure buyers to its Elliot Street project in New Westminster, slated to be completed in 2015.
Under the new mortgage incentive program, the Censorio Group has agreed to pay the entire monthly mortgage payments for 24 months if homebuyers purchase at the Elliot Street project, according to a media release. The new homeowners would live mortgage-free for the next two years, the release says.
Elliot Street is one of four high-rise condo towers in the works in New West. All four projects saw their sales flat-line in recent months. Since launching the mortgage incentive program at the Elliot, sales jumped 150 per cent, the release says.
The mortgage incentive was accompanied by a controversial ad campaign that featured the iconic Uncle Sam "I Want You" image with a Canadian flag emblazoned on his hat.
The condos are located at 188 Agnes St. Available condos/townhouses range in price from $159,900 to over $459,900. The project has a total of 130 units.
