Foreclosed Oak Keys Project By South Street In Vancouver Listed For Sale

The Oak Keys townhouse project in Vancouver's West Side, developed by South Street Development Group, has entered foreclosure and is now listed for sale. This 20-unit development, located at West 28th Avenue and Oak Street, was designed with modern aesthetics and urban convenience in mind. Despite its promising features, the project faced financial difficulties leading to its current status.

Oak Keys comprises a mix of one to three-bedroom townhomes, ranging from 621 to 1,494 square feet. The design includes rooftop patios, private balconies, and a central courtyard lined with mature trees, aiming to provide residents with a blend of indoor comfort and outdoor tranquility. The interiors feature engineered white oak hardwood floors, quartz countertops, and floor-to-ceiling windows to maximize natural light.

The development's location offers proximity to key amenities such as Queen Elizabeth Park, VanDusen Botanical Garden, and the King Edward Canada Line station, facilitating easy access to downtown Vancouver. Additionally, the area is known for its family-friendly environment, with schools and healthcare facilities nearby.

Originally priced from $599,000 for studios to nearly $2.9 million for larger units, Oak Keys attracted attention for its upscale offerings in a sought-after neighborhood. However, the project's financial challenges have shifted its trajectory, making it an opportunity for investors or developers interested in acquiring and potentially revitalizing the property.

The foreclosure listing includes all 20 units, presenting a comprehensive acquisition opportunity. Interested parties are encouraged to conduct thorough due diligence, considering the project's design, location advantages, and the circumstances leading to its foreclosure.

As the real estate market in Vancouver continues to evolve, the sale of Oak Keys stands as a notable event, reflecting the complexities and risks inherent in property development. The outcome of this sale may influence future developments and investment strategies within the region.