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FEATURE/North America's first "smart" community incorporates high-tech business world applications into a residential setting and attracts SOHO market.

VANCOUVER, British Columbia--(BUSINESS WIRE FEATURES)--March 8, 1996--As public demand for high-speed access to the Internet and other high-tech lifestyle amenities increases, developers of the world's premier "smart" community, the highly successful Concord Pacific Place in Vancouver, are noting a significant change in their townhome/condo buyer's decision-making process.

Market surveys made by Concord Pacific two years ago revealed that price and location were the primary deciding factors in the marketability of the units, but today, the townhouses and condos are selling out literally as fast as buildings are opened for sale, and buyers -- many of whom are purchasing for SOHO (Small Office/Home Office) use -- are citing the availability of high-speed fiber optic hook-ups as the feature that is making this ultra-modern mixed-use development the hottest real estate property in North America.

Located on the False Creek waterfront site formerly occupied by the 1986 World Expo, Concord Pacific's office and residential units will ultimately encompass the equivalent of 50 city blocks, making it the largest private construction project currently in progress in North America.

Terry Hui, the self-financing developer of the $3 billion, 15-year project, is a Vancouver entrepreneur who is also involved in software development and innovative Internet services through his software company, MultiActive Technologies. Part of the reason Concord Pacific is trendsetting is that Hui, a technological visionary, is incorporating into the community many applications formerly found exclusively in the business world.

Hui's vision of technology's potential to liberate occupants from many mundane routines is reflected in Concord Pacific's numerous high-tech amenities -- innovations ranging from monitored security to automated features such as voice-activated blinds.

A number of U.S. communities are exploring transportation- or on-line services-based "smart" programs, but Concord Pacific Place is in a category by itself as the first actual residential smart community. In addition to offering residents state-of-the-art amenities such as enhanced video enterphone, intelligent home automation, advanced security systems, and super-station television access, the community has its own dedicated telecommunications exchange, cable system and Internet provider.

Already, several of the buildings are occupied by a total of 1,200 residents, and the development is 15 percent sold out. Its eventual population will be 18,000 people in 10,000 units.

CONTACT: EvansGroup, Seattle

Ryan DeMares, 206/820-6119
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Mar 8, 1996
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