78% Of Condos At 512-Unit Canvas Have Been Sold

Canvas is on schedule to open in the first quarter of 2018, with nearly 80 percent of units already in contract.

The developer told the SFBJ this week that 401 of 512 condo units had been sold, or about 78 percent.

With completion soon, the developer is now accepting 20 percent deposits on the remaining units. Those deposits can be refunded once the building opens, since it is eligible for up to 97 percent Fannie Mae financing (the developer has turned away bulk buyers in order to obtain Fannie approval).

Prices range from $345,000 to $690,000, with unit sizes from 620 to 1,100 square feet.

Previously, buyers have had to place a 50 percent deposit, and most domestic buyers have had their parents help in placing the deposit, the developer said.

Nearby, the developer is planning a similar condo project targeted at end-users, designed by architect Carlos Zapata.