Issuu on Google+

Jan 24 - Feb 7, 2014 Volume 04 Issue 02

INSIDE THIS ISSUE

HELLEN BUTTIGIEG FREES YOU FROM CLUTTER

NCG VAN Cover-01-24-2014.indd 1

WHY SHOULD YOU USE A MORTGAGE BROKER?

CIBC: DEBT TOP PRIORITY FOR CANADIANS IN 2014

2014-01-17 6:37 PM


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2014-01-17 4:43 PM


JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 3

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2014-01-17 4:43 PM


4 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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NEW YEAR’S MANAGER SPECIAL

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All areas approximate. Buyers are strongly encouraged to check the latest architectural plans before making a final choice. Variable conditions occur throughout the development. Marketing collateral such as floorplans, renderings, material specifications, and site conditions are solely for illustrative pu

*OFFER AVAILABLE UNTIL FEBRUARY 24, 2014. LIMITATIONS APPLY. CONTACT SALES FOR DETAILS. THIS IS NOT AN OFFERING FOR SALE. SALES BY DISCLOSURE STATEMENT ONLY. E&OE. SHORE PROJECTS LTD. ADERA REALTY CORP. 2200 – 1055 DUNSMUIR ST., VANCOUVER V7X 1K8 | 604.684.8277

005-The Shore 01-24-14.indd 1

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UNIVERSITY DR

NEW CITY HALL

SURREY CENTRAL SKYTRAIN

KING GEORGE BLVD

104 AVE

SFU

6 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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8X10 - NEW CONDO GUIDE

THE ART OF ELEGANT LIVING

NOW SELLING

C O M I N G F E B R U A RY 2 0 1 4

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NEW YEAR’S CELEBRATION PROMOTION CALL TO LEARN MORE ModelloByBoffo.ca 604.456.0688 Modello Presentation Centre #118 – 5021 Kingsway

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2014-01-17 6:50 PM


table of contents

January 24 February 7, 2014 volume 4 issue 2

16

MET2

Landmark living in Burnaby 012 Editor’s note Columns

columns, news & features

026 C  ondo Sense Lots of reasons to be optomistic about the 2014 BC housing market by Cameron McNeill

034 INside Mortgages Why should you use a mortgage broker by Kris Grasty

036 L egal Angle In it together? — The Strata Property Act, Strata Property Regulation and you by Neil Mangan

042 Quick Tips Start the New Year by freeing yourself

by Hellen Buttigieg

062 M  oney matters How credit cards calculate interest

074 Designer Advice Get the faucet facts by yanic simard

in the news

020 s  cotiabank Study Fewer Canadians plan to contribute as RSP deadline looms 032 C MHC Decemeber 2013 Vancouver housing starts

by Gail Vaz-oxlade

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JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 9

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Vice-President, Wall2Wall Media

Jacqueline Hill Editor-In-Chief / Director of Content

Susan Legge

66

Director of Sales, National

Josh Heppner Senior Sales Manager, Western Canada

74

Edwin Rizarri Art Director

Sarah Jang Editor

Diane Duflot Contributing Editors

Lydia McNutt Sara Duck Wayne Karl Design Editor

Yanic Simard

Media Consultants

Dave Bird 604.319.7102 Brenda Everitt 604.319.7103 Sales Coordinators

52

Justin Salvador Ranee Pal

Production Manager

Bala Gnanapandithan Graphic Designer

Caroline Wassef Production Co-ordinator

Mohammad Haidarpour CONTRIBUTING EDITORIAL WRITER

Susan M Boyce

Published By

050 REBGV report Metro Vancouver housing market charactetized by modest home sales and price increases in 2013 052 Royal lepage market trends Condo development in Canada’s three largest cities is well supported 066 cibc poll Paying down debt named the top financial priority for Canadians entering 2014 070 Remax Housing outlook 2014

008_010 Van TofC_CW_DD.indd 10

Homebuyers’ Help

030 CONDO MARket watch Condominium homes to keep your eye on by Susan M BOyce

077 H  omebuyers’ resource section

4180 Lougheed Highway Suite 102 Burnaby BC V5C 6A7 T. 604.519.6080 F. 604.519.6088

080 listing directory Call 604.519.6080 for ­advertising rates Copyright covers the contents of this publication and prevents reproduction in whole or in part: offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

Advertising

MAPS

014 Burnaby/New West 022 Surrey/Langley 040 South Surrey/White Rock 044 R ichmond 048 North Shore 058 Tri-Cities 068 Vancouver

The views and data expressed by columnists do not necessarily represent those of the publication.

1/17/14 5:18:33 PM


WATER VIEWS + PARKSIDE LOCATION +

2 BLOCKS TO SKYTRAIN

+ ONLY 10% DEPOSIT.

PLAN 01 Actual view from home 1001 shown below

1 BEDROOM, 1 BATHROOM 630 SQ.FT.

SO MUCH, SO CENTRAL. BALCONY

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PRICED FROM $266,900

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604.523.0081 PRESENTATION CENTRE AT 18 BEGBIE

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*Developer reserves the right to make changes to specifications and pricing without notice. Price not for home shown.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 11 06

01

05

02 04

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03

2014-01-17 4:43 PM

Floors 5–21


EDITOR’S NOTE

TAKE ADVANTAGE, WHILE YOU CAN

SUSAN LEGGE

EDITOR-IN-CHIEF

Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on facebook search: Condo Guide

The Bank of Canada’s latest announcement to hold its interest rate target at one per cent does not come as a surprise. The rate has been holding at that level since September 2010, which is good news if you’re in the market for a mortgage. There are many excellent mortgage products available from banks and brokers that will suit your individual needs, and could well be lower than posted bank rates, which are currently hovering around three per cent for a variable rate. With a preapproval in hand, you’re protected if rates rise; if they go down, you’ll likely get an even lower rate. A pre-approval can be a win-win situation for shoppers, since it means you don’t have to wait to get financing approval

on a home when you put in an offer. This is an especially good tool to have when markets are hot. Removing the “conditional on financing” clause could mean your offer is accepted first since you already have your financing in place. So when will rates rise? It’s anyone’s guess, but most experts agree it’s unlikely there will be any significant movement until mid 2014. However, we can’t assume that will be the case, and you shouldn’t wait too long to get pre-approved for a mortgage. It can take a few days. Many lenders offer online pre-approvals to make the process faster and easier. Start the new year off right by taking advantage, while you still can.

ALL SIGNS POINT TO A GREAT YEAR TO BUY

DIANE DUFLOT

EDITOR

Wall2Wall Media Diane.Duflot@wall2wallmedia.com Follow me on Twitter at Twitter.com/DianeDuflotW2W

Whether you rented or owned last year, it seems you’ve decided to take the plunge and buy a condo in 2014. All signs point to this being a great year to do so: interest rates remain low, real estate in Vancouver is still a solid investment and there are many new and exciting projects are in various stages of development across the lower mainland. New Condo Guide is happy to be here to help you in your search, whether you’ve just started looking or are in the final stages of locking down a deal. We’ll help you save for your down payment with useful financial advice from experts in the field, such as Gail Vaz-Oxlade, who encourages you to pay close attention to the interest accruing on your credit cards

in “How credit cards calculate interest.” Regular contributor Kris Grasty will keep you on the inside track with his column, Inside Mortgages, which this issue lays out the advantages of using a mortgage broker to obtain your mortgage. Neil Mangan offers up his expertise in his regular column, Legal Angle, which will regularly debunk the mysteries of legalese, this month explaining the impact the Strata Property Act and Strata Property Regulation could have on you. Although buying a condo can seem confusing, we will continue to fill our guide with advice to make you more comfortable with the process. New Condo Guide has your back, every step of the way. Happy condo shopping!

12 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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SHOW SUITES OPEN 1300 Rolston St.

013-Rolston 01-24-14.indd 1

604.782.0821 theRolston.com

2014-01-20 9:56 AM


BU R NABY | N E W WE S TM I N S TE R NEW WESTMINSTER

BARNET MARINE PARK

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AR

SQUINT LAKE PARK

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WILLINGDON AVE

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ST E AV

A3. AVIARA

A6. C  ENTREBLOCK AT UNIVERCITY

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BOUNDARY RD

A5. BRENTWOOD

EN

A2. RED BRICKS

5021 Kingsway 604.456.0688

EW

RW

A4. MODELLO

DE

EN

A1. REFLECTIONS

Griffiths Dr & 14th Ave 604.527.7955

336 Columbia Street 604.524.8080

D

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B1

A1

MARIN E WA Y

107 - 7090 Edmonds St. 604.525.8496

B4. ELLIOT ST

AN

IMPERIAL ST

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BURNABY

68 Sixth Street 604.525.8980

DEER LAKE

DEER LAKE PARK

A8

B3. DOMINION

Belmont & 6th Street 604.522.2583

AD AW AY

METROTOWN

7377 14th Ave 604-9606

B5. VICEROY

A4

PATTERSON AVE

B2. VIBE

BURNABY LAKE REGIONAL PARK

GILLEY AVE

BOUNDARY RD

E

AUSTIN AVE

GR

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Lougheed Hwy

SPROTT ST

CA N

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49TH AVE

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WA Y

BURNABY MOUNTAIN GOLF COURSE

BCIT

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18 Begbie Street 604.523.0081

A6

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BRENTWOOD MALL

GR

B1. NORTHBANK

W

SFU

CLIFF AVE

A5

UN IVE RSITY DR

AR

SPERLING AVE

A3

HOLDOM AVE

WILLINGDON AVE

HASTINGS ST

Barnet Hwy

NORTH RD CL

INL ET

DR

CONFEDERATION PARK

BURNABY MOUNTAIN PARK

theamazingbrentwood.com

A7. S  TATION SQUARE 4670 Assemble Way stationsquare.ca

A8. MET2

6550 Nelson Ave 604.899.8800

libertyhomes.ca

1710 Gilmore Avenue 604.291.9130

14 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

Aug.17 2012

7.625”x1.625”

Ledingham McAllister

CMYK

014-Burnaby New Westminster 2011_CG.indd 14 CG Banner Ad Redesign

Legacy Sans

2014-01-20 10:00 AM


BURNABY/NEW WESTMINSTER

THE BEST OF METROTOWN 48 more storeys of Metrotown’s most highly anticipated community are coming this April. 4670 Assembly Way is the next phase at Station Square – the very best of Metrotown. More shopping, more dining, more amenities, more transit options – everything at your doorstep: that’s what it means to live in Downtown Metrotown.

See it this April. Own it this May. Register now.

STATIONSQUARE.CA

The developer reserves the right to make changes and modifications to the information contained herein. This is not an offering for sale as an offering can only be made after the filing of a disclosure statement, and only in jurisdictions where qualified in accordance with applicable local laws. E. & O. E. Station Square and the Station Square logo are registered trademarks of Metro Shopping Centre Limited Partnership, and used under licence.

CHINESE NEW HOME & CONDO GUIDE Client: Anthem Properties Project: Station Square II Dimensions: 7.25” 015-Station Square 01-24-14.indd 15 x 9”

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 15

2014-01-17 4:44 PM


COver Story

MET2

Landmark Living in Burnaby // By Susan M Boyce After a dazzling sales success at THE MET, Concord Pacific is

getting ready to do it all again. Say hello to MET2: a 38-storey collection of sophisticated, city-savvy homes offering the exceptional finishings and lifestyle that have become a Concord signature statement of quality. “We’re excited to be part of the revitalization and re-invention of the Metrotown neighbourhood — especially since this is such a unique part of Burnaby,” says Grant Murray, Concord Pacific’s vice president, sales. And after living in the neighbourhood for more than 20 years, you can bet Grant knows what he’s talking about when he adds it’s a “really cool place to be.” Just steps from BC’s largest shopping mall, MET2 still maintains the quiet, inviting ambiance of a well-established residential area. “Plus you’re right beside Lobley Park on the northeast and Bonsor Park on the southwest, so there are all kinds of fun activities you can do as a family,” Grant says. “Of course, you’ve also got exceptional transit access to Vancouver via the SkyTrain.” And here’s a cool factoid. MET2’s location on one of the highest residential elevations in the Lower Mainland — close to 500 feet above sea level — adds to its already impressive list of unanticipated bonuses. Translation: views are going to be outstanding, especially from the upper floors.

Sumptuous Lifestyle Inside, MET2 is a reflection of your good taste. Like their predecessors at THE MET, these homes boast gourmet kitchens with built-in recycling centres and the sleek look of integrated appliances, elegant marble in shower/tub surrounds and kitchen backsplashes, as well as spacious balconies or private terraces. But, Grant stresses, MET2 is a design evolution that kicks luxury living up yet another notch with over-height ceilings, air conditioning and dynamic new upgrade options, including Miele appliances and engineered hardwood floors. “Our approach was to ask what we could do to create even better value for our homeowners — this is the result.” Good news, too, for downsizers and homeowners who simply want more space to live life large. “The market asked for it, so we’re building more twobedroom floorplans than you’d typically find in a tower development,” Grant says. How many? What about 138? That’s right, almost half the homes at MET2 come with two bedrooms — some even have dens as well.

Celebrate the Lifestyle In true five-star style, MET2’s entry will feature a dramatic lobby and motor court plus interior and exterior water features. “We wanted to place emphasis on creating a sense of elegance… of a grand arrival,” Grant explains. Artwork commissioned especially for MET2 and a concierge to effortlessly handle details such as courier deliveries or ordering

16 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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“We’re excited to be part of the revitalization and re-invention of the Metrotown neighbourhood — especially since this is such a unique part of Burnaby.” Grant Murray

a taxi to the latest theatrical extravaganza will round out the sensation of coming home to the luxury of a world-class hotel. And when you’re ready to talk amenities, MET2’s got them. Adding to the already lavish offerings found at THE MET — amenities that include a high-end fitness room, indoor and outdoor entertainment lounges, golf simulator, putting green and a karaoke room — MET2 introduces a new level of interconnectivity. “For example, to complement the existing pitch-and-putt, we’re building a lawn bowling area,” Grant says. “We’re also adding a sun-tanning terrace, indoor pool and hot tub, steam room and sauna, card and mah-jong room, a yoga studio and an underground bowling alley — a feature that’s

been enormously popular at previous projects in Vancouver.”

Outstanding Opportunity MET2 will be located at 6550 Nelson St. (just north of THE MET) and adjacent to Lobley Park on the northeast and Bonsor Park on the southwest. Presentation centre and display home anticipated to open late January, but why wait? For a sneak preview, you can visit the Concord Pacific Sales Centre located at 88 Pacific Blvd. on the False Creek Seawall in downtown Vancouver and open 10 a.m. to 5 p.m. daily. For more information and to priority register, visit MET2.ca or call 604 604.899.8800. Prices start at $279,900.

JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 17

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YOUR BEST SOURCE OF REAL ESTATE INFORMATION TO BUY, SELL, RENT OR RENOVATE. Pick us up at over 750 convenient locations including: Safeway, IGA, Skytrain Stations, Community Centres and More.

TO ADVERTISE CALL 604.519.6080 Jan 24 - Feb 7, 2014 Volume 04 Issue 02

Jan 24 - Feb 07, 2014 Volume 22 Issue 2

EXECUTIVE VIEW HOMES

NOW AVAILABLE INSIDE THIS ISSUE

HELLEN BUTTIGIEG FREES YOU FROM CLUTTER

WHY SHOULD YOU USE A MORTGAGE BROKER?

CIBC: DEBT TOP PRIORITY FOR CANADIANS IN 2014

NCG VAN Cover-01-24-2014.indd 1

INSIDE THIS ISSUE

WHY SHOULD YOU USE A MORTGAGE BROKER?

GAIL VAZ-OXLADE EXPLORES WAYS TO USE YOUR RRSPS

ORGANIZE: A PLACE AND A SPACE FOR EVERYTHING

2014-01-17 4:19 PM

METRO VANCOUVER EDITION

DECEMBER 2013 - JANUARY 2014 VOLUME 12 ISSUE 6

www.homedecorandrenovations.com

Jan. 17 - Feb. 14, 2014 Volume 22 Issue 01

Metro Vancouver Edition

Renting a Home

BOB DE WIT’S ADVICE ON MAKING RENOVATIONS WORK

Know your rights and responsibilities

PLUS

WIN

A KORHANI HOME ONE-OF-A-KIND RUG!

GLASS WORLD FAMILY BUSINESS BUILT ON REPUTATION FOR QUALITY

INSIDE THIS ISSUE

VAN HRG cover_Jan-17 .indd 1

MAKE SURE YOU’RE INSURED

2014-01-17 3:29 PM

Van Ren 11-2013.indd 1

2013-11-27 6:10 PM

View our Magazines online at NewCondoGuide.com Like Us on facebook.com/NewHomeGuideMetroVancouver

• ATLANTIC CANADA • CALGARY • EDMONTON • MONTREAL • VANCOUVER • WINNIPEG

018-Family of Mags.indd 84

2014-01-17 4:44 PM


BURNABY/NEW WESTMINSTER

Find your Centre Find your centre at the top of Burnaby Mountain. Offering spacious apartments and townhomes next to vibrant shops and services, CentreBlock is your home in the heart of Simon Fraser’s thriving UniverCity community.

1 Bedroom

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3 Bedroom Townhomes 1,510 sq. ft. from $499,900

Opening February 1st Register for advance viewing at libertyhomes.ca This is not an offering for sale. Any such offering may only be made with a disclosure statement. E. & O.E.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 19

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In The News

Scotiabank study:

Fewer Canadians plan to contribute as RSP deadline looms With the RSP deadline approaching, Scotiabank’s Annual Investment Poll found that three in 10 (31 per cent) Canadians plan to contribute to their RSP this year, a decrease from 39 per cent in both 2012 and 2011. Threequarters of Canadians (74 per cent) who hold RSPs, and have thought about contributing more, cite lack of affordability as the top reason for not contributing more often (84 per cent in 2012). The study also found that among Canadians who hold an RSP, 40 per cent have withdrawn funds from their RSP, up four per cent from 2012 (36 per cent). Again this year, the top reason for taking money out of RSPs is to take advantage of the Home Buyers’ Plan to buy/build a first home (16 per cent vs. 15 per cent in 2012), followed by covering day-to-day living expenses (eight per cent vs. five per cent in 2012) and paying down debt (eight per cent vs. six per cent in 2012).

Set-up pre-authorized contributions that let you make regular and automatic contributions from your bank account directly into your RSP. Start with a small amount and adjust it depending on your financial situation. PLAN TO CONTRIBUTE TO RSP FOR 2013 TAX YEAR Total

No

Yes

Don’t know

55%

(49% in 2012)

31%

(39% in 2012)

14%

(12% in 2012)

Atlantic

Quebec

Ontario

Man/ Sask

Alberta

BC

54%

50%

55%

55%

50%

65%

31%

35%

31%

33%

33%

20%

15%

14%

14%

12%

16%

16%

“With the new year underway and the RSP contribution deadline less than two months away, we want to encourage Canadians to meet with a financial advisor,” says Mike Henry, senior vice president of retail payments, deposits and lending at Scotiabank. “RSPs continue to be an important and tax-effective way to maximize retirement savings. If affordability is an issue, a financial advisor can help identify ways to make that all-important contribution, big or small, as well as develop a financial plan to help achieve retirement goals.”

20 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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RsP conTRIbuTIon baRRIeRs ToTal lack of money / cannot afford it / have expenses / debts

(84% in 2012)

I contribute enough / regularly / near the contribution limit

(1% in 2012)

74% 6%

aTlanTIc

Quebec

onTaRIo

man/ sask

albeRTa

bc

80%

88%

64%

81%

76%

75%

3%

-

10%

-

21%

-

have You Taken moneY ouT oF YouR RsP? ToTal

no

Yes (neT)

55%

(58% in 2012)

40%

(36% in 2012)

16%

To buy / build / get mortgage on first home (home buyers’ Plan)

(15% in 2012)

For day-to-day living expenses

(5% in 2012)

To pay down debt

For home renovations / improvements

8%

8%

(6% in 2012)

5%

(3% in 2012)

aTlanTIc

Quebec

onTaRIo

man/ sask

albeRTa

bc

55%

51%

54%

66%

55%

56%

37%

41%

41%

31%

38%

42%

19%

19%

15%

12%

12%

14%

1%

5%

10%

6%

10%

12%

11%

6%

7%

6%

6%

13%

-

-

7%

4%

12%

6%

This year, the top reason for taking money out of RSPs is to take advantage of the Home Buyers’ Plan to buy/build a first home (16 per cent vs. 15 per cent in 2012), followed by covering day-to-day living expenses (eight per cent vs. five per cent in 2012) and paying down debt (eight per cent vs. six per cent in 2012).

RsP conTRIbuTIon TIPs

›› Talk to your financial advisor to make a plan to find out what works best for you for both long and short-term financial goals. ›› Set-up pre-authorized contributions that let you make regular and automatic contributions from your bank account directly into your RSP. Start with a small amount and adjust it depending on your financial situation.

›› Spousal RSPs can be an effective tool in planning for retirement, giving you the ability to contribute to your spouse’s RSP, helping you realize income splitting opportunities and potentially reducing your family’s overall tax burden. ›› Consider borrowing to top up any unused contribution room and maximize your RSP, as the contribution may generate a tax refund that can be used to pay off the loan.

JAn 24 - FEB 7, 2014 meTRo vancouveR new condo guIde 21

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SURREY | LANGLEY 116TH AVE

OR

RD

112ND AVE

108TH AVE

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12

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A16

A9

104TH AVE

TYNEHEAD REGIONAL PARK

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Hw

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GOLDEN EARS BRIDGE

96TH AVE

A4 A1

88TH AVE

88TH AVE

BEAR CREEK PARK

208TH ST

200TH ST

192ND ST

10 RD

B3

A3

R

A7 64TH AVE

61A

G

A12

WATERSHED PARK

B2

72ND AVE

A10

64TH AVE

A13

60TH AVE

58TH AVE

A17 A6

56TH AVE

LANGLEY BYPASS

56TH AVE

er H

10

GR

A1. ASCEND

15956 86A Ave. 604.596.2202

A2. LUXOR

12039 64th Ave., Unit #104 604.590.8003

A3. SALIX

6477 - 196th Street 604.530.0054

A4. MANAROLA

8695 160th Street 604.825.1038

A5. VERVE

13913 Fraser Hwy. 604.588.3783

A6. LINGO

5665 177B Street 604.727.5478

A7. ESPLANADE AT WATERSTONE 99 64th & 19th 604.530.5399

A8. PARK AVE

100 Ave. & Whalley Blvd. 604.233.7748

A9. G3 RESIDENCES 104th Ave. & 154th St. 604.453.6688

A10. THE RIDGE AT BOSE FARM

64th and between 160th and 164th St 604-888-5514

A11. 3 CIVIC PLAZA

104th Ave & Citypoint Way 604.951.3331

AD

LANGLEY

SERPENTINE FEN NATURE RESERVE

ER

B1. CORNERSTONE

A13. LUMINA

B2. KENSINGTON

14877 60 Ave. 604.727.5478

A14. WAVE

104 Ave & 133 St 604.951.9283

A15. DELTA RISE

80th & Scott Road 604.594.7473

A16. UNIVERSITY DISTRICT

104th & University Dr

A17. L ATIS

5811-177B St. 604-575-0669

wy

D

A12. L ATITUDE

14358 60th Ave. 604.596.5075

B1 Fra s

B4

SURREY

AV E

LO VE

99a

A2

184TH ST

168TH ST

160TH ST

152ND ST

80TH AVE

176TH ST

72ND AVE

TH

B5

1a 144TH ST

128TH ST

120TH ST

112TH ST

80TH AVE

King George Blvd

A15

96

240TH ST

Fr as

RD

GREEN TIMBERS URBAN FOREST PARK

GL OV ER

96TH AVE

232RD ST

A5 A11 A8

216TH ST

S

A14

216TH ST

Fr a

se r

104TH AVE

48TH AVE

40TH AVE

5655 210A Street 604.534.6000

20678 willoughby Town Centre Drive 604.427.3311

B3. ELEMENTS

20211 66th Ave. 604.533.7718

B4. VARSITY

200th Street & Fraser Highway 604.539.2200

B5. ATHENRY GATE 8312 Street 604.882.8857

22 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

022-Surrey Langley 2011_CG.indd 22

2014-01-17 5:07 PM


All 1 Bedroom Homes $

10,000 OFF

All 2 Bedroom Homes $

20,000 OFF

P L U S G S T A N D B C T R A N S I T I O N TA X I N C L U D E D

Mortgage Subsidy Program Available.

OWN FROM $ /MTH*

731

Get the lowest interest rates guaranteed!

*see sales staff for promotion details

LUXURY IS STANDARD AT LUXOR

OWN TODAY Condos from $224,900 Special Financing Packages Available

REGISTER NOW!

luxor-living.com 604-590-8003

To Vancouver

15 min. to YVR Airport & 15 min. to US Border

Scott Rd.

FURNISHED SHOW SUITE: 12039 - 64th Ave., Unit 104, Surrey Corner of Scott Rd & 64th Ave HOURS: Monday to Friday 1-6pm Weekends & Holidays 12-5pm

MOVE IN TODAY

64th Ave. 58th Ave.

FOLLOW US ON FACEBOOK @ Luxor Homes

LUXURY HOME COLLECTION GROUP

FOLLOW US ON TWITTER @ twitter.com/luxorliving

Solon Bucholtz

Hwy. 99

To US Border

MARKETING AND SALES BY: R E A L E S TAT E M A R K E T I N G

Wolstencroft Realty

*Selected Homes subject to change without notice. Limited time offer, see sales staff for details. This is not an offering for sale. Any such offering can only be made with a disclosure statement. E.&O.E.

023-Luxor 08-09-13.indd 21

2014-01-17 4:44 PM


SURREY/LANGLEY

VISIT OUR BRAND NEW SHOWHOME TODAY!

BUY A SPACIOUS YARD & WE’LL THROW IN A 3 BEDROOM CONDO FOR JUST $296,900

Proudly developed by

Make your neighbours jealous... Enjoy your private fenced in yard, perfect for BBQ’s, lounging or watching the kids play while you stay cozy inside. Don’t miss out— the next 5 buyers get side-by-side parking!*

BRAND NEW GARDEN SHOWHOME:

CL.* KING IN R A P E -SID NLY! SIDE-BY ALES O

S NEXT 5

144TH & 60TH Ave, Surrey | Open Daily 12–5pm (closed Fri)

PORTE.CA/LATITUDE

|

604.596.5075

*Pricing and promotion subject to restrictions. Yard is not an actual representation of the yards at Latitude. Sales by disclosure statement only, E&OE. Latitude Homes are developed, marketed and sold by Porte Development.

24 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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SURREY/LANGLEY

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 25

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CONDO SENSE

Lots of reasons to be optimistic about

// BY CAMERON MCNEILL

THE 2014 BC HOUSING MARKET HOUSING MARKET TRENDS

Cameron McNeill is the owner of MAC Marketing Solutions, one of B.C.’s and Alberta’s leading real estate sales and marketing firms. Cameron also co-founded TAC Real Estate, a resale firm, and MPC Intelligence, a real estate market-research firm. Together with his experienced and dedicated team of sales, marketing and administration professionals, he has transacted more than 14,000 new homes and $5 billion in sales. Email him at cm@macmarketingsolutions.com or follow him on Twitter @mac_marketing

R

ecently MAC Marketing Solutions published ‘MAC Intel’, an exciting new way to understand the many statistics that affect Metro Vancouver’s housing market. It also provides an outlook into the upcoming year, summarizing significant macro and micro indicators, in simple to understand infographics a great way to start some meaningful dialogue. We’ve included the statistics on housing trends here, but if you’re interested in seeing the full version which includes other indicators such as population, employment and other economic trends, visit our MAC Blog at www.macmarketingsolutions.com/ blog and let us know your thoughts!

Based on the Housing Price Index (HPI)*, Metro Vancouver’s top performing submarkets have shown positive growth over the last 5 years. This HPI trend, in conjunction with the salesto-active listings ratio showing a healthy balanced housing market, indicates continued opportunities to enter Metro Vancouver’s resilient “blue chip” real estate market.

5-YEARS TREND: TOP PERFORMING MUNICIPALITIES HPI* rank for November 2013 and percent change from November 2008 - 2013 Vancouver Eastside

HPI 180.3 +27.0% Burnaby North

HPI 155.3 +16.0%

Vancouver Westside

HPI 169.7 +25.4% North Vancouver

HPI 147.5 +14.9%

Richmond

Burnaby South

HPI 165.1 +19.6% Coquitlam

HPI 161.1 +18.4% New Westminster

HPI 148.8 +11.5%

HPI 156.2 +11.3%

*The MLS® Home Price Index (HPI) measures home price trends and home price inflation/deflation. Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In January 2005, the Index equalled 100. SOURCE: Canadian Real Estate Board, Real Estate Board of Greater Vancouver, MLS HPI Index.

26 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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SALES-TO-ACTIVE LISTINGS RATIO

5 YEAR TREND OCTOBER 2008 – NOVEMBER 2013

SOURCE: Real Estate Board of Greater Vancouver.

BENEFITS OF BUYING A HOME

Home ownership has proven to be a worthwhile long-term investment despite short-term market flucations. With continued upward pressure on housing prices and the 3-year trend showing that the monthly costs of renting a home are on the rise, 2014 looks to be a favourable year to enter the Metro Vancouver housing market.

TOTAL MONTHLY COSTS OF OWNING VS. RENTING

2010

2013 DETACHED HOMES NOV.2013

$1,259,775

COST TO

OWN -1.6%

COST TO

RENT +4.4%

RESIDENTIAL AVERAGE SALE PRICES JANUARY 1977 – SEPTEMBER 2013

Total costs of renting vs. owning are calculated on the following consumer Price Index criteria:

ATTACHED HOMES NOV.2013

$1,259,775

OWNING mortgage insurance, homeowner’s replacement cost, maintenance and repairs, other ownership expenses.

CONDOMINIUMS NOV.2013

$1,259,775

RENTING monthly rent, tenant’s insurance premiums, tenant’s maintenance, repairs and other expenses.

NOTE: From 1977-1984 attached home and condominum averages were tracked together.

SOURCE: Statistics Canada, CMHC Rental Market Report.

SOURCE: Real Estate Board of Greater Vancouver.

All statistics taken from external sources, referenced above. MAC Marketing Solutions does not guarantee the accuracy or completeness of the information. In providing this information MAC Marketing Solutions does not assume any responsibility or liability. Prospective homebuyers should not rely solely on the information contained therein. E.&O.E. JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 27

026-027 Cameron McNeil_CW_2_DD.indd 27

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Single entry lounge pass starting from $33.25 tax inclusive ($24.50 children ages 2 – 11) for 2 hours lounge use. 3 hour and 6 hour lounge use also available** ** Online bookings only; higher rates apply for walk-in lounge use

All amenities are included in the price of entry including bar service after 11:00 a.m. (Toronto, Vancouver) and 10:00 a.m. (Edmonton)

For online bookings go to www.plaza-network.com/booking/FlightInfo.aspx?ECONREF=W2W2013

028-Plaza Premium Lounge 2013.indd 30

2014-01-17 4:44 PM


SURREY/LANGLEY

w w w. m a n a r o l a h o m e s .c o m

NEW YEAR BONUS!! Next 6 Sold Receive FREE

• Net GST • FIRST YEAR STRATA FEES • Laminate flooring in Bedrooms • Washer, Dryer and Fridge Upgrades • $5,000 Decorating Allowance A dazzling collection of 51 condominium homes designed by award winning Creekside Architects. Lcoated in the delightful Fleetwood “Village” neighborhood… a vibrant, pedestrian friendly community with everything at your doorstep, excellent schools, proximity to great shopping, restaurants, major transportation routes and recreational facilities galore.

ONE BEDROOM STARTING

FROM

$179,900

(INCLUDE NET GST)

For more information:

DEVELOPED BY:

FR AS ER

162 ST

or Visit our Website at www.manarolahomes.com Presentation Centre Address: #101, 8695 160th Street, Surrey Open daily from 12 to 5pm (closed Fridays)

160 ST

88 AVE

604.825.1038

HW Y

The builder reserve the right to change floorplans, elevations, specifications and prices without notice. Square footage as noted are approximations of each individual unit. The purchaser is responsible for verification of the unit layout and square footages. All renderings, floorplans, models and maps are artist's conceptions and not intended to be an actual depiction of promotion details.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 29

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condo watch

Latis Cloverdale On the Street 5811 – 177B St. On the Web latiscondos.com Info 604.575.0669 Bottom Line Final opportunity to own a one- or two-bedroom home from just $199,900. Located in the heart of Surrey’s dynamic, new Cloverdale neighbourhood, these lowrise homes are move-in ready. Great opportunity to enjoy the best of urban and rural living.

Condo market watch Condominium homes to keep your eye on

Midtown Mount Pleasant

Burrard Gateway Downtown Vancouver On the Street Burrard and Drake On the Web burrardgateway.ca

Addition Downtown Vancouver On the Street 1155 Hornby On the Web additionliving.com Info 604.620.6692 Highlights Get ready, get set, because previews are anticipated to begin early this spring for this 20-storey highrise. Located at the gateway to downtown Vancouver’s dynamic entertainment and cultural district, Addition will bring 164 homes priced from just $364,900 to the corner of Hornby and Helmcken. Outstanding access to the Seawall, Stanley Park, Granville Island via the AquaBus and transit to everywhere. Priority register now.

On the Street 589 East Broadway

Yale Bloc Langley

On the Web livingmidtown.com

On the Web yalebloc.com

Info 604.563.3330

Highlights Contemporary, sleek and stylish, these one-and two-bedroom condominium homes are located in the desirable Willowbrook neighbourhood — close to shopping, parks, transit and schools at all levels. Designed with a modern outlook, Yale Bloc is aimed squarely at homebuyers searching for urban living with modern style. Priority register today for more information as it’s released, and start thinking outside the bloc.

One- and two-bedroom apartment residences located above boutique retail. Steps to the vibrant and invitingly eclectic shopping of Main St., as well as being just minutes to downtown Vancouver, the Seawall, plus schools, parks and restaurants. Presentation centre and display home coming soon. Be sure to priority register for more information as it becomes available. Highlights

Highlights After a three-year permitting/application process, this new addition to downtown Vancouver received unanimous Vancouver City Council approval just days before Christmas. A one million square foot, mixed-use development, Burrard Gateway will consolidate 27 city lots and will feature two residential towers — a 35-storey residential tower and a 55-storey residential tower (the third tallest building in the city) connected by a seven-storey mixed-use podium — as well as a dramatic curved glass office building and a flagship Toyota dealership facing Burrard St. There will also be a generous public plaza with cafe, public art installations, vertical water display, landscaping and enough public seating to create an activated plaza space. Register online to receive updates as more information becomes available.

Tell Us Your News Got a new development, opening, or other news you’d like us tofeature in Condo Market Watch? Drop us a note at condomarketwatch@wall2wallmedia.com, and we’ll do our best to get it in the next edition.

30 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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SURREY/LANGLEY

RETHINK CLOVERDALE

What it was, and what it will become will make you rethink Cloverdale. With even more shopping, entertainment, recreation and educational centres being added, it will become the epicenter of the valley - and Latis is in the middle of it all. With every home complete and ready to move in, Latis allows you to take advantage of Cloverdale's future with pre-growth prices today. C LO V E R DA L E

1 BEDROOM + DEN FROM $199,900 | 2 BEDROOM FROM $269,900 SHOW SUITES OPEN DAILY 1 - 5 pm, except Sundays 5811 - 177B Street, Surrey

LatisCondos.com DEVELOPED BY

MARKETED BY

C LO V E R D A L E

604.575.0669

info@LatisCondos.com

Prices, rates and features are subject to change without notice. E. & O. E.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 31

B3 COMMUNICATIONS DATE: FILE:

12/20/13 B3 CLIENTS:LATIS:21370 LATIS AD CREATIvE:PROD:21370 LATIS AD CREATIvE_7.25x9 PROD.INDD

1.866.711.2333 | INFO@B3COM.COM | B3COM.COM |

031-Latis 01-10-14.indd 31

©

CW:

AD:

AE:

B3 COMMUNICATIONS INC. REPRODUCTION AND/OR DISTRIBUTION OF THIS MATERIAL IS PROHIBITED WITHOUT PRIOR AUTHORIZATION.

2014-01-17 4:45 PM


IN THE NEWS

CMHC: DECEMBER 2013 VANCOUVER HOUSING STARTS HOUSING STARTS IN THE VANCOUVER Census Metropolitan Area (CMA) were trending at 19,881 units in December compared to 20,009 in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. “Housing starts trended slightly lower in December and trended higher overall during the second half of 2013 as builders increased construction on both single-detached and multiple-family homes

Vancouver CMA Housing Starts 30,000 25,000

21,820 19,881

20,000 15,000 10,000 5,000 0

Dec 2011 Housing Starts, SAAR*

Dec 2012

Dec 2013

Housing Starts Trend Line (6-month moving average)

*SAAR: Seasonally Adjusted Annual Rate

in the CMA,” said Lance Jakubec, CMHC’s senior market analyst for Vancouver. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next. The standalone monthly SAAR in the Vancouver CMA was 21,820 units in December, compared to 17,876 in November. Housing starts in the Abbotsford-Mission CMA were trending at 694 units in December, compared to 740 units in November. The trend measure for total housing starts has moved downward due to lower multiple-family home starts.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market.

32

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SURREY/LANGLEY

R LD VE O O S % 70

FITNESS GYM

TENNIS COURT

GRAND LOBBY

SKY GARDEN

SWIMMING POOL

Largest Urban Community Planned. Resort Lifestyle Included. Timeless elegance and high energy define Park Avenue, Concord Pacific's hottest new high-rise development. Located in the heart of Surrey City Centre, the strongest growing metropolis and employment centre in the Province, Park Avenue is a stone’s throw away from Skytrain station, Central City Mall, Holland Park, Target, new City Hall, Surrey Memorial Hospital & SFU. Park Avenue features 1 to 3 bedroom suites. Each home comes with a large sized balcony, high-end finishes and underground parking. Topped with Club PA, a full collection of the best resort style amenities never seen before in the city, Park Avenue is a smart investment and a rare find.

250 Homes under $250,000

PRESENTATION CENTRE : 9908 KING GEORGE BLVD. (NEXT TO KING GEORGE SKYTRAIN STATION) OPEN DAILY, 12PM - 6PM

G re a te r Va n couve r ’s Fa s te s t G rowi ng Ci t y - S U R R E Y w w w.parkavenueliving.ca | 604.583.9866

Actual suite interiors, exteriors and views may be noticeably different than what is depicted in photographs and renderings. The developer reserves the right to make modifications, substitutions, change brands, sizes, colours, layouts, materials, ceiling heights, features, finishes and other specifications without prior notification. Such details are governed by the applicable offer to purchase and agreement of sale, and disclosure statement. This is not an offering for sale. Any such offering can only be made with the applicable offer to purchase and agreement of sale, and disclosure statement. Some conditions apply to Cash Prize Draw and Skytrain ticket redemption. E&OE. Concord Park Avenue Project Limited Partnership

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 33

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2014-01-17 4:45 PM


INSIDE MORTGAGES

// BY KRIS GRASTY

WHY SHOULD YOU USE A MORTGAGE BROKER?

Kris Grasty is a mortgage broker with Dominion Lending Centre’s Canadian Mortgage Experts and an active member of the MBABC. Kris maintains a strong focus on educating clients on all options. For more information visit his website at www.krisgrasty.ca or reach him at kris@cmexp.com.

the list goes on. Clients that were approved easily three years ago are now finding themselves declined by the major banks. Most people don’t realize that bank mortgage specialists are typically unlicensed bank employees with the bank’s interest in mind and their knowledge extends only to their employers’ product offerings. There is a misconception that mortgage brokers cost the client money. This is not the case: mortgage brokers offer a free service to clients and get paid by the lender only when a deal is closed. A fee may be charged for handling challenging files that necessitate unique funding solutions. Mortgage brokers are licensed professionals regulated by The Financial Institutions Commission (FICOM) and must follow strict rules and guidelines. We are required to continually educate ourselves and are held to high ethical standards. Key benefits to using a mortgage broker

›› Independent financial advice on your options with multiple lenders. ›› Your credit bureau record is pulled only once, saving you time, hits on your credit score and enabling them to work on the best overall package for your situation.

›› Things move quickly! A broker can work all angles and spearhead communication. ›› Brokers negotiate on your behalf, making a case with the lenders working on rate

T

he two most common methods that consumers use to obtain their mortgages in Canada are directly with a bank or through a licensed mortgage broker. The main reasons many people deal directly with the big banks are brand familiarity and existing relationships; however, the lending environment has changed considerably over the last few years, shifting the consumer focus towards mortgages. Although we are still enjoying historically low interest rates, clients looking to buy now are finding it harder than ever to obtain financing and are overwhelmed with the amount of documentation required. Income qualification is tighter, stated income and net worth programs are more stringent, fewer lenders are working with multiple property investors and

and prepayments, as well as working out deals with lower penalty structures and even applying for exceptions or leniency and fighting for your deal. ›› Service goes beyond one transaction: good broker follow up mid-term and ensure all is going well and remain your trusted advisors. ›› Brokers don’t work 9 – 5. Brokers are often available in the off hours when major lenders are closed. It should be about you!

The major lenders don’t often offer their lowest rate, even for great clients on renewal. Call a broker when you get your renewal notice and get a second opinion, you might be surprised. Bank specialists will often offer you a higher rate that you may accept and suggest you shop around, indicating that they will match a lower rate. Why should you do the leg work? Rate sites quote low rates that you may or may not qualify for. Beware that the lowest rates may be tied to less portability, low or no prepayments and higher penalty calculations, costing you thousands more overall! Despite my caution about major lenders and rate sites, I nevertheless suggest that you look at what those offerings are, so that you’re informed about the current range of rates. Times are tough, but we’ve seen tougher! The advantage of the mortgage broker shines now more than ever. Perhaps this is why the mortgage broker market share has risen from 26 per cent in 2003 to 40 per cent in 2013.

If your health were the issue, you would likely seek a second opinion. Don’t you think your finances deserve the same attention? Call your broker!

34 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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SURREY/LANGLEY

CHa-CHing yOur NEW hOmE just gOt a LOt mOrE affOrdabLE

original price

new PriCe

SavingS

2 bed + study

$327,900

$264,900

2 bed + den

$329,900

$279,900

2 bed

$250,900

$226,900

1 bed + den

$199,900

$184,900

$63,000 $50,000 $24,000 $15,000

Home Type

Huge Savings on every home. Limited time only – Don’t miss your best opportunity to buy in 2014. Move in Today.

604.534.6000 cornerstoneliving.ca sales Centre and three fully-furnished display homes

56th & 210a st, Langley | Open daily (closed friday) from 12 to 5 pm. Limited time offer. Prices subject to change without notice. Please see our sales representative for further details and exact terms of this offer. E. & O.E. marcon homes (Cornerstone) Ltd.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 35

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legal angle

// by neil mangan, JD

The Strata Property Act, In it Strata Property Regulation together? and you

Neil Mangan, JD, was born and raised in Vancouver, BC, where he leads the strata property practice group at Bell Alliance, Lawyers & Notaries Public (www.bellalliance. ca). Neil publishes the free online Strata Law Guide (www.stratalaw.ca) and is editor of The Condominium Manual: A Comprehensive Guide to Strata Law in British Columbia (www.condomanual.ca).

W

hen it comes to sharing expenses under the Strata Property Act, the general principal is that all owners are “in it together.” For example, if there is a major leak on one side of the building, all owners will need to contribute to the cost of repairs, even if they live on the dry side. Sharing all common expenses regardless of who benefits can be a source of conflict in strata developments with both condominium towers and townhouses. These different styles of strata lots can have very different expenses. For example, condominiums often have higher maintenance expenses than townhouses because they may feature

extra amenities like elevators or shared hot water systems. Townhouses can face higher per unit repair expenses because low-rise buildings have fewer strata lots. To help deal with this difference, the Strata Property Act and the Strata Property Regulation allow owners to create and use special tools to help them allocate common expenses. Condominium- and townhouse- style strata lots can be treated as different “types” of strata lots. They can also be separated into different “sections.” When strata corporations allocate common expenses based on types, they are permitted to allocate expenses in the annual operating budget that relate to, and benefit, a single type of strata lot to the owners of those strata lots. When strata corporations create “sections,” they create separate governing bodies for each type of strata lot. Each section is a separate legal entity with its own executive council. Sections have special powers to manage and pay for those common expenses that relate solely to the strata lots in the section. Sections can create and enforce their own bylaws, budgets and contingency reserve funds. They can enter into their own contracts, acquire or dispose of property and sue or arbitrate in the name of their section. For many owners, the most important difference between sections and types is that sections can raise funds through special levies of section owners.

When strata corporations allocate common expenses based on types, they are permitted to allocate expenses in the annual operating budget that relate to, and benefit, a single type of strata lot to the owners of those strata lots. If a strata corporation does not use sections to allocate expenses between condominiums and townhouses, all owners must contribute to all special levies, regardless of whether the funds raised will benefit a single type or style of strata lot. If you are buying a townhouse or a condominium in a strata development featuring both condominiums and townhouses, review the bylaws and the budget to see if the strata corporation uses “types” or “sections.” If the strata corporation does not use one of these tools to allocate expenses between condominiums and townhouses, there is a good chance that one style of strata lot may end up subsidizing the other. If you have more questions or are considering using types or sections in your strata corporation, be sure to consult with a knowledgeable strata lawyer.

36 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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SURREY/LANGLEY

IN 014 E 2 OV E R M M M SU

Come together in the heart of Willoughby Visit our fully furnished 2 Bed, 2 Bath + Den display suite. 1 Bedroom, 1+Den, 2 Bedroom, 2+Den 660 - 1360 sq.ft. Condominiums Priced from $199,900 This beautiful collection of condominium homes places you at the centre of the walkable, urban community of Willoughby Town Centre at 208th St./80th Ave. Visit our website to see all the retail shops and services now open.

KENSINGTON PRESENTATION CENTRE Open Daily Noon to 5pm C-110, 20678 Willoughby Town Centre Drive Langley, BC | Phone: 604.427.3311 Email: kensingtonsales@mylasso.com

@WilloughbyLife | Willoughby Town Centre

liveatkensington.ca

80th Ave. 208th St.

Willoughby Town Centre

DEVELOPED BY

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 37

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IT’S NOT TOO LATE TO... DISCOVER BC’s BUILDERS, DEVELOPERS AND COMMUNITIES - ONE STORY AT A TIME

2013 BuildersAnnual.com

BUILDER & DEVELOPER

BC’s Builders, Developers and Communities – One Story at a Time

If you missed picking up this year’s issue, call 604.519.6080 or email homes@wall2wallmedia.com to receive your FREE copy!

Metro Vancouver’s finest new home builders and condo developers

AN INSIDE LOOK AT

Mortgage smarts – separating fact from fiction

Buyer expectations and demographics fuel Vancouver’s housing market

NewHomeGuide.ca

038-BuilderAnnual 2013.indd 72

2014-01-17 4:45 PM


SURREY/LANGLEY

0 500 HOME WELCOME $

PACKAGE!

included but limited time offer. Call Today!

8

units only

D3

2 Bedroom + Den

932 SQ. FT.

Never been advertised at this price!

Savings up to 35k 2 Bedroom + Den

UNBEATABLE QUALITY

284,900 Promotion ends November 15, 2013 no exceptions

8312 - 208th St., Langley

D3 plan 2 PARKING STALL 1 STORAGE

The developer reserves the right to substitute any material, fixture, appliance or finishing with an equivalent material, fixture, appliance or finishing at the developer’s sole discretion. In our continuing effort to meet the challenge of product improvement, we reserve the right to modify or change plans, specifications, or prices without notice. Renderings are an artist’s conception only and are intended as a general reference. All dimensions and sizes are approximate. As reverse plans occur throughout the project, please check architectural plans. Refer to disclosure statement for specific offer details.

604.882.8857

AthenryGate.com

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 39

039-Athenry Gate 10-18-13.indd 39

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10

176TH ST

184TH ST

176TH ST

184TH ST

168TH ST

152ND ST

y King George Hw

SOUTH SURREY | WHITE ROCK

40TH AVE SERPENTINE FEN NATURE RESERVE

CR

CRESCENT BEACH / BLACKIE SPIT

E SC

E

NT

99a

RD

5

99

32ND AVE

SUNNYSIDE ACRES URBAN FOREST PARK

CRESCENT PARK

24TH AVE

1

Ki

24TH AVE

164TH ST

26TH AVE

24TH AVE

ng

148TH ST

168TH ST

152ND ST

INE

16TH AVE 160TH ST

140TH ST

128TH ST

3

6

MA7 R

y

2

4

Hw

16TH AVE

ge

16TH AVE

or

20TH AVE

Ge

SOUTH SURREY ATHLETIC PARK

DR

15 10TH AVE 8TH AVE

8TH AVE

SOUTH SURREY / WHITE ROCK 1.

MORGAN CROSSING

24th Ave & Hwy 99 604.582.1336

2.

3. 4.

ROYCE

Thrift & Everall 604.538.8028

GEMINI

5.

ADAGIO

6.

15310-17A Ave 604.536.1663 20th Ave. & 154th St. 604.531.6659

EDGEWATER

152nd & 36 Ave. 604.818.5603

SALTAIRE

7.

NEWPORT AT WEST BEACH

14949 Marine Drive 604-536-0256

Johnston Rd & Thrift Ave 604-662-3700

40 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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s 0

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quick tips

// by hellen buttigieg

start the new year by freeing yourself Get clear on the year ahead

If setting New Year’s resolutions is not your thing, there’s another way of defining what you’d like your life to look like – create a vision board. Get some magazines, glue and a poster board and start cutting and pasting images that you feel drawn to or that represent something you’d like to be or have in your life. If you would like to learn more about the power of these dream boards, and have a look at some of the ones I’ve created personally, check out my blog post, Creating a Dream Board (WeOrganizeU.com) Hellen Buttigieg is a certified professional organizer, life coach, TV host and owner of We Organize U. Visit her website, weorganizeu.com, for a free e-book on how to find more time, energy and inner peace. Email Hellen at info@weorganizeu.com

End procrastination by knowing your payoff

Ever wonder how to motivate yourself to tackle that daunting task you’ve been putting off? Rather than dwelling on the chore itself, turn your attention to how you will benefit once the job is done. If you can come up with two or three compelling ways your life will be better as a result of completing what you’ve been procrastinating on, you will find the inspiration to take action. Make your ‘someday’ a reality

T

here is so much buildup at the end of the year that it can almost feel like a race to the finish line. Then January 1st arrives, the social calendar calms down and the cocooning begins as you prepare to ride out the rest of the winter. Before you jump right back to everything you were doing before the holidays, take some time to look around and decide what needs to change. Not that you have to go making grand resolutions for the new year – unless that’s your thing – but look at it as an opportunity to free yourself of things that weren’t working for you. Try new methods that may improve your life in little, noticeable ways.

How many times have you wistfully said, “Someday, I’d like to…” It’s interesting how we often procrastinate on doing the things we most want to do. We continue to put it off because something more pressing always seems to come up. But life is short, and habitually putting off doing those meaningful things that bring us joy can literally suck the life right out of us. One thing that I personally find very effective is to catch myself when I say I’d like to do something, and immediately pull out my calendar and schedule it in, even if it’s not for another month or two… or even six. The trick is to allow enough time to prepare for the event in advance and, once the date approaches, treat it as you would any other appointment you’ve booked with someone important – keep it. Make decisions fearlessly

Clutter often represents unmade decisions. Many people struggle with indecision because of the fear of making a mistake (especially perfectionists). It may seem easier to avoid making the decision, but by doing so, you are deciding to procrastinate and stay stuck. Whenever possible, make decisions as you go along, before they accumulate. Although there’s no guarantee you will make the right decision, you will be taking the option that appears to be the right thing to do at the time. Avoid berating yourself if the outcome is less than you had hoped, and besides, there’s usually some recourse. See it as a great learning experience and move on. One effective decision-making technique is to ask: “What’s the worse thing that can happen if I make the wrong decision?” and “Can I live with that consequence?” This usually puts the decision into perspective and helps you make it confidently.

42 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

PB new Condo Guide november 16 - 30, 2013 042 Quick Tips_Hellen Buttigieg_ January Fresh Year.indd 42

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SOUTH SURREY/WHITE ROCK

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 43

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R IVE

KNIGHT ST

99 VANCOUVER INTERNATIONAL AIRPORT (YVR)

R DR

R I C H M O N D | D E LTA | L A D N EDRR | T S A W W A S S E N

NO 3 RD

NO 6 RD

91

Westminster Hwy

RICHMOND NATURE PARK

GRANVILLE AVE

99

RICHMOND CENTRE

GRANVILLE AVE

R DR

CAMBIE RD

g

ALDERBRIDGE WAY

LANSDOWNE PARK MALL

NO 4 RD

WESTMINSTER HWY

RICHMOND NATURE PARK

Richmond Hwy NO 5 RD

R KE BA RU SS

NO 4 RD

A5

A1

DR

CAMBIE RD

R IVE

CAMBIE RD

SHELL RD

GARDEN CITY RD

NO 3 RD

LANSDOWNE PARK MALL

A4

RICHMOND

BRIDGEPORT RD GRANT MCCONACHIE WAY ALDERBRIDGE WAY

W AY

KE BA SS RU

RICHMOND CENTRE

99 R IV ER

WESTMINSTER HWY

GRANVILLE AVE

NO 6 RD

CAMBIE RD

NO 5 RD

R

W AY

GARDEN CITY RD

A2

VANCOUVER INTERNATIONAL AIRPORT (YVR)

A6 A3

SHELL RD

BRIDGEPORT RD GRANT MCCONACHIE WAY

KNIGHT ST

R IV ER

Richmond Hwy

91

Westminster Hwy

GRANVILLE AVE

99

BLUNDELL RD

A5

g

RD Y WA

RD R VE RI

W AY

OV E

RD

RO 47TH AD

A AVE

se rR 62ND B ST

B ST

48TH AVE

W

RN

SD

R

TSAWWASSEN

A4. HARMONY

Presentation Centre No 3 Rd and Bennet 604.278.3939

6160 London Road No 2 Rd. and London Rd. 604.274.7326

41ST B ST

Sales Centre 7100 Elmbridge Way 604-282-7838

A5. THE PIER AT LONDON LANDING

B1. BRIO

5454 - 12th Ave. 604.943.8811

56TH ST

28TH AVE

A3. RIVER PARK PLACE

A6. C  ADENCE BY CRESSEY Oval Village 5640 Hollybridge Way 604.276.8683

17

28TH AVE

ENGLISH BLUFF RD

604.233.7748

BU

53RD ST

ER

R IV

GR

53RD ST

EL RD O N

(on Capstan at Number 3 Road)

48TH AVE

U R DR

9099 Cook Road Richmond Presentation Centre 8511 Capstan Way

R

U R DR

AC H

ER

R IV

ARTH

A2. MONET

SD

W RD

17

41ST B ST

CE M ETE RY

RICHMOND #101-8600 Park Road 604-270.2482

RN

ARTH

BE

RI VE R

N KSO

113 ST

SOUTH DE LTA PAR K

56 ST

53A ST 8A AVE

BOU N DARY BAY R EG IONAL PAR K

72 AVE

A1. SAFFRON

BU

17

47TH A AVE

JAC

B1 12 AVE

8A AVE

74 AVE

RD

55 ST

53A ST

52 ST

75A AVE

12 AVE

119A ST

75 AVE 115 ST

DR

D E LTA

CHALM E R S PAR K

RE

DE LTA NATU R E R E S E RVE

O YM RR

DR

78B AVE

BA

IC A

MONROE DR

116 ST

N

118 ST

O

112 ST

M

ST

B EACH G ROVE GOLF C OU R S E

80 AVE

SA

NT A

82 AVE

DEAS ISLAND REGIONAL PARK

G RAU E R PAR K

C OAST TSAW WAS S E N I N N

MACK I E PAR K

ENGLISH BLUFF RD

BL VD

SCOTT RD

E

y

NORDEL WAY

is Hw

c Anna

91

84 AVE

80 AVE

IR

55

TSAW WAS S E N GOLF CLU B

W

I LT SH

AVE FINN 18 RD

LADNER

RI VE R62ND RD

112 ST

NO 3 RD

17

S P LAS H D OW N PAR K

DEAS ISLAND REGIONAL PARK

FINN RD

TSAW WA S S E N

56 ST

90 AVE

NORTH DE LTA PAR K

NO 3 RD

52 ST

116 ST

MONCTON ST

Fr a

ER R IV

RD

MONCTON ST

GARRY POINT PARK

96 AVE

GARRY POINT PARK

ive r

NO 6 RD

ive r se rR

NO 5 RD

Steveston Hwy

Steveston Hwy Steveston Hwy

ER R IV

Fr a

Steveston Hwy

SOUTH ARM PARK

NO 4 RD

WILLIAMS RD

NO 5 RD

NO 3 RD

GILBERT RD

FRANCIS RD

NO 2 RD

RAILWAY AVE

SOUTH ARM PARK

NO 4 RD

NO 1 RD

WILLIAMS RD

NO 3 RD

GILBERT RD

RD FRANCIS FRANCIS RD

NO 2 RD

NO 1 RD

RAILWAY AVE

FRANCIS RD

NO 6 RD

BLUNDELL RD

12TH AVE

044-Richmond Delta 2011_CG.indd 44

56TH ST

6TH AVE

44 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

4TH AVE

1ST AVE

2014-01-17 5:07 PM


EL

M

I BR

R B R ID ALDE

AY EW

MINORU BLVD.

DG

G E WA Y

.

T

RD

ER

R

LB

VE

GI

RI

RD

.

RICHMOND/DELTA/LADNER/TSAWWASSEN

Sales Centre

WESTMINSTER HWY.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 45

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RICHMOND/DELTA/LADNER/TSAWWASSEN

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BEDROOM CONCRETE HOMES IN THE DESIRABLE OVAL VILLAGE NEIGHBOURHOOD. WALK TO THE BEAUTIFUL RIVERFRONT; RELAX IN THE ROOFTOP GARDEN LOUNGE; AND DELIGHT IN YOUR HOME’S HEALTH-FOCUSED DETAILS THAT GIVE YOU CLEANER AIR, PURER, MORE REFRESHING DRINKING WATER, AIR CONDITIONING FOR YOUR OWN UNIQUE COMFORT, AND A QUIETER LIVING EXPERIENCE. REGISTER NOW TO RECEIVE PRIORITY INFORMATION.

CADENCEBYCRESSEY.COM

604.276.8683 HO LL YB RI DG

LANSDOWNE RD RT

RD

E W AY

N

BE

MB

RI

G IL

EL

DG

E

W

AY

This is not an offering for sale. Any such offering can only be made with a Disclosure Statement. E.&.OE.

46 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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COMING SOON REGISTER TODAY | AMACON.COM

We are meant to be together. FAMILY-SIZED HOMES IN CENTRAL RICHMOND

Tempo is designed for family life. Contemporary homes for families who value their quality time.

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This is not an offering for sale. Such an offering can only be made by way of a disclosure statement. Rendering is artist’s concept only. E.&O.E..

047-Tempo 01-24-14.indd 1

2014-01-17 4:45 PM


RO SS RD

NM

Sky H

wy

R VE GO TR

Sea To

EN D

NORTH SHORE | SQUAMISH | WHISTLER DEPOT RD

DR ORO

UG H

LONSDALE AVE

DR E NS

CHEAKAMUS WAY

1a MARINE DR

GA

A10

RI

BOULEVARD

BA I LD

MARINE DR

YR

E

NT

A9

GH

LA

ND

S

W AY

S

Y WA KI

DR

HI

MAMQUAM RD

STANLEY PARK y

a

Se

VE R GO

NM

E NT

To

Sk

y

w

H

RD

LOGGERS LN

QU E E NS WAY

RAVEN DR

A4

LYNN CANYON PARK

MT SEYMOUR PKY A7

KEITH RD E

L LEVE LOW

R D E MAI N

A8. T  HE ANCHOR

13th & Lonsdale 604.969.3333

99

A4. O  RIZON ON THIRD Sale Centre 21 Lonsdale Ave

A5. 1  5 WEST

ST

rton

Dolla

Hwy

 300 Mt Seymour Parkway 3 604.800.2120 131 THIRD ST 604-988-8800

A9. T  HE SHORE

Presentation Centre 238 Fell Ave 604-980-0016

A10. HEYWOOD ON THE PARK 1621 Hamilton Ave 604-985-0003

 5th just off 1 CH E Lonsdale RR 604.980.9949 Y DR

B UC

SQUAMISH

KLEY AVE

UD TEA PLA

R

VE YA WA V ST TA WE NU VE ST E KA CH OC L M DR HE RD O ILF GU

A6. CAPSTON

129 W 2 ST 604-929-8870

VAL LEY

DR

3R

2N

DA VE DA VE

DR

A8 A6

A2. REMIX

A3. T  HE PRESCOTT ROBIN DR

KE

SEABUS

A7. NORTHLANDS

#103 - 735 West 15th St 604.924.4488

FINCH DR

AR

N

RD

KEITH RD W A3

A1. LOCAL ON LONSDALE W 17th Street and Lonsdale 604.998.0219

BRENNAN PA R K

CL

A5

A1

N LY

EY LL VA

NORTH SHORE

CENTENNIAL WAY

MAGEE ST

A2

Mountain Hwy

TH B

MATHERS AVE

DEMPSAY RD

SD AL EA VE

DR

LIGHTHOUSE PARK

DALE R D

LO N

INE

CH IPPE N

CAPILANO RIVER REGIONAL PARK

PERTH DR

MAR

RD

STE V

L OW

SOU

R CYP

B ESS

TANTALUS RD

CYPRESS FALLS PARK

15TH ST

NELSON CANYON PARK

LYNN HEADWATERS REGIONAL PARK

21ST ST

DR

CYPRESS

25TH ST

RUN

CYPRESS BOWL RD

EAG LE

NORTH SHORE

48 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

048-North Shore Squamish Whisler 2011_CG.indd 48

2014-01-17 5:07 PM


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049-Adera-Remix 01-24-14.indd 1

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In The News

REBGV Report:

Metro Vancouver housing market characterized by modest home sale and price increases in 2013 The Greater Vancouver housing market

a consistent balance between demand and supply throughout 2013. The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011. “Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the recordbreaking years we experienced over the last decade,” Sandra Wyant, REBGV president said. Last year’s home sale total ranks as the third lowest annual total for the region in the last ten years, according to the region’s Multiple Listing Service (MLS). The number of residential properties listed for sale on the MLS in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Looking back further, last year’s total represents an 8.1 per cent decline compared to the 59,539 residential properties listed for sale in 2011. Last year’s listing count is on par with the 10-year average. “It was a year of stability for the Greater Vancouver housing market,” Wyant, said. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.” maintained

The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $603,400. This represents a 2.1 per cent increase compared to December 2012. December summary Residential property sales in Greater Vancouver totalled 1,953 in December 2013, an increase of 71 per cent from the 1,142 sales recorded in December 2012 and a 15.9 per cent decline compared to November 2013 when 2,321 home sales occurred. December sales were 8.1 per cent above the 10-year December sales average of 1,807. New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,856 in December 2013. This represents a 34.5 per cent increase compared to the 1,380 units listed in December 2012 and a 42.8 per cent decline compared to November 2013 when 3,245 properties were listed. Sales of detached properties in December 2013 reached 762, an increase of 79.3 per cent from the 425 detached sales recorded in December 2012, and a 21 per cent increase from the 630 units sold in December 2011. The benchmark price for detached properties increased 2.5 per cent from December 2012 to $927,000. Sales of apartment properties reached 850 in December 2013, an increase of 68.7 per cent compared to the 504 sales in December 2012, and an increase of 9.8 per cent compared to the 774 sales in December 2011.The benchmark price of an apartment property increased 1.8 per cent from December 2012 to $367,800. Attached property sales in December 2013 totalled 341, an increase of 60.1 per cent compared to the 213 sales in December 2012, and a 34.3 per cent increase from the 254 attached properties sold in December 2011. The benchmark price of an attached unit increased 1.2 per cent between December 2012 and 2013 to $456,100.

50 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

050 News_REBGV_ModestHomePrices.indd 50

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604.638.6240 ORIZONonTHIRD.com

Intracorp Third Street Limited Partnership Sales and Marketing by Intracorp Realty Ltd.

Contact sales team for details. Price ranges, completion date and strata fees are subject to change without notice. All Living areas quoted are in square feet. All square footage and dimensions shown are approximate and should not be relied upon. The developer reserves the right to make changes and modifications. Pictures, drawings and digital renderings are for illustrative purposes only and should not be relied upon. E. & O.E.

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 51

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In The News

Royal LePage Market Trends

Condo development in Canada’s three largest cities is well supported

If the abundance of construction hoardings and a sky full of rising towers are any indication, Canada’s largest cities are experiencing an unprecedented condo boom, a growth trajectory that has some expressing concern about the sustainability of the market. With more condominium construction in recent years than the market would appear to be able to absorb based on demographic trends alone, a new report by Royal LePage outlines the economic and social factors behind the enduring demand for this type of housing. The study also considers how condominiums as a housing class fit into the overall housing market and how their role continues to evolve. In 2011, condos accounted for 14.9 per cent of total households in these markets, and 37.7 per cent of new dwellings. Growth continues, according to the report, with demand for new condos over the next twenty years

estimated to be 26,000 to 32,000 new units per year, a significant 43 per cent to 53 per cent of total required housing across all housing types. While actual production currently exceeds this need with an average of 43,774 new starts per year, strong activity in condo markets has been generated by exceptionally low interest rates, robust job creation in central areas of cities, shifting consumer preferences and conditions that can make condo ownership an effective investment opportunity. According to the report, this strong activity is not sufficient evidence of a housing bubble, but rather the result of these positive economic forces and changes in demand patterns supportive of condominium living. Condos have a well-established and evolving role in the housing markets of the cities studied. In the short-term, construction is predicted to slow to better align with growth rates and changing demographics. During this transition, likely over the next two years, today’s very high levels of activity will lower and there may be some volatility in pricing while a new set of longer-term trends get established. “Condominiums have emerged as the dominant type of new housing in contemporary urban Canada, a trend that will not be reversed in the foreseeable future,” said Phil Soper,

52 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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president and chief executive of Royal LePage. “In Canada’s major cities, the presence of highly visible, large-scale construction projects will continue to attract discussion. It’s important to note, that while the number of condominiums have increased significantly over the past decade, condo price appreciation has remained in check, tracking closely to overall housing averages. As the number and proportion of condominiums in our national housing stock continues to grow, it’s our objective to provide Canadians with the research and analysis they need to understand this important market.” A comparison of prices of condos and single-family homes over the last twenty years shows that the price of condos has risen at about the same rate as single-family homes. In greater Toronto, condo prices rose by 5.1 per cent per year, versus 5.9 per cent of single family homes; in greater Montreal, condo prices rose by 5.5 per cent per year, versus 5.1 per cent of single family homes; and in greater Vancouver, condo prices rose by 4.5 per cent per year, versus 5.7 per cent of single family homes. While some divergence may be expected in the near-term, the report suggests that condominiums will experience growth

rates similar to single family homes over the long-term. Looking forward, the patterns of housing requirements depend on factors including population growth rate, its distribution by age groups and evolving consumer preferences. Over the next twenty years, the three major cities studied are projected to receive a modestly reduced share of the country’s population growth, as resourceproducing regions attract proportionally more in-migration. This change, together with changing housing needs brought about by the aging baby boomer population are two important factors that point to moderating demand for new condos compared to recent levels of production. “The longer-term role of condos depends on several variables, including shifting demand patterns, pace of project completion and changes to mortgage rules,” states Will Dunning, housing market economist and author of the report. “In the housing market, demographics are not always destiny, and various factors including the appeal of amenity-rich urban living and delayed childbearing have increased condo demand. This helps greatly to explain why apartment activity has recently exceeded the so-called demographic requirement.” For more information, visit www.royallepage.ca.

Looking forward, the patterns of housing requirements depend on factors including population growth rate, its distribution by age groups, and evolving consumer preferences 53

052-053 NEWS_RoyalLePage_Current condo development_CW.indd 53

1/17/14 5:19:16 PM


Published by

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Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

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JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 57

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LV D KW AY B

UB T EA PLA

COAST MERIDIAN RD

RIDGE PARK

ET R

EE

WA Y

PA R

LVD

COQUITLAM | PORT COQUITLAM | PORT MOODY | PITT MEADOWS

NE

V

VICTORIA DR

DR

A4

Barnet Hwy

ST JOHNS ST

LINCOLN AVE

COQUITLAM CENTRE

DEWDNEY TRUN K RD PRAIRIE AVE R

SY ES DAW ES

ghe

ed H

H IL LR

HN

SH

KI

he

ed

SW AY AV E

Hw

DOMINION AVE

y

Loug

NG

DEWDNEY TRUNK RD

DEWDNEY TRUNK RD

Lo

ug

D

COLONY FARM REGIONAL PARK

wy

r

Ma

ed

Hw

y

ss

MEADOW GARDENS GOLF COURSE

a yp

ll B

i yH

he

FORD RD FRASER RIVER

COQUITLAM

PORT COQUITLAM

A1. COMO

A4. CELADON

A2. BLOOM

A5. REGAN'S WALK

A3. BLUETREE HOMES AT MACKIN PARK

A6. CHARLAND

Sales Centre #101 - 618 Langside Ave. 604.939.8808

Brunette & Lebleu Presentation Centre located at 1020 Austin Ave. 604.939.8874

DEWDNEY TRUNK RD

1128 Kensal Place 604.871.4189

B1. ORCHID

2455 Wilson Ave. 604.866.4206

HARRIS RD

HAMMOND RD PITT MEADOWS AIRPORT

404 - 552 Clarke Ave. 604.936.0336

123RD AVE

207TH ST

VE TE A

Lou

Hwy

AU G

A3 BR

MARI NE R WAY

AUSTIN AVE

A6 T UNE

ug

heed

MUNDY PARK

MUNDY ST

AUSTIN AVE

Lo

OTTAWA ST

LD

ST

MA

B1

LINTON ST

SMITH AVE

COMO LAKE PARK

GATENSBURY ST

NORTH RD

ER

COMO LAKE AVE

CL

AR

A5 A1 A2

BLUE MOUNTAIN ST

KE

RD

TH

DR

216TH ST

PIONEER MEMORIAL PARK

INLET PARK

LA NS BL VD DOW

IA

210TH ST

TA IN

R TO IC

203RD ST

ROCKY POINT PARK

UN

AVE

S BONSON RD

y

w H

SHORELINE PARK

DAV ID

TOWN CENTRE PARK

HARRIS RD

MO

CEDAR DR

R IT AG E

COAST MERIDIAN RD

D

JOHNSON ST

t ne

r Ba

OR

HE

PI N

DAVID AVE IOC

R IVE

GOLDEN EARS BRIDGE

Sales Centre #408 - 552 Clark Rd. Burquitlam Plaza 604.492.0222

102 - 1020 Austin Ave. 604.492.3388

58 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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R RD


SOUTH BUILDING OVER 50% SOLD

at mackin park

1 & 2 BED APARTMENTS

MARMONT ST

Mackin Park

NELSON ST

EDGAR AVE

VE TE A NET MACKIN PARK

KING EDWARD ST

BRU

LOU Sales Centre open daily 12 – 5 GHE ED H WY (Closed Thursday & Friday) 211 –TR1020 Austin Ave, Coquitlam A N S- C A N A DA HWY 604-939-8874

SCHOOLHOUSE ST

ALDERSON AVE BOILEAU ST

Prices are subject to change without notice. GST not included. E.&O.E.

ROCHESTER AVE

LEBLEU ST

From $202,900. Move in Fall 2014

BLUE MTN. ST

✓ Walkable neighbourhood ✓ Easy access to Hwy 1 ✓ Minutes from Lougheed and Braid SkyTrain ✓ Spacious floorplans ✓ Modern finishes ✓ Outdoor space with every home ✓ 1 or 2 parking included

AUSTIN AVE

Bluetree Home Store

See more at bluetreehomes.ca

059-Bluetree-Mackin 01-24-14.indd 1

2014-01-17 Insertion: Jan. 24, 2014

4:46 PM


COQUITLAM/PORT COQUITLAM/PORT MOODY

SMART FEATURE

Brilliantly-designed and wired tech nook for easy and secure WiFi connectivity and Internet access for those favourite tunes and online recipes!

DECK

N0.1 THE TECH NOOK

LIVING

MASTER BEDROOM

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PANTRY + TECH NOOK

LINEN

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Full-height, in-wall pantry provides abundant storage with built-in stainless steel microwave for added convenience.

ENTRY

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CL A RK E

Inside, a brilliantly-designed and wired tech nook connects you to your digital life; Just one of

E LAKE AV

SALES CENTRE

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604.492.0222 REGANSWALK.CA 60 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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COQUITLAM/PORT COQUITLAM/PORT MOODY

N E-I V MO

IS TH

R! E MM U S

BE A PART OF THE TRANSFORMATION! ACTUAL VIEW SHOT TAKEN AT COMO

WE PAY NET THE GST.

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Lo u

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*Prices and incentives are subject to change or be withdrawn without notice. Prices quoted include net sales tax for owner/occupier only. Offering includes net GST and transition taxes to a maximum of 3.2%. Purchaser’s responsible for all other taxes and fees. Don’t miss out! See a sales representative for details. E&O.E. Sales and Marketing by Fifth Avenue Real Estate Marketing Ltd. www.fifthave.ca

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 61

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moneY matterS

How credit cards

// BY GaiL vaZ-oXLade

caLcuLate intereSt

I Gail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com. Follow Gail on Twitter at twitter.com/GailVazOxlade

f you’re like me and you always pay the amount owing on your credit card by the payment due date, you never have to pay interest, so you may not much care what your interest rate is or how it’s calculated. But if you carry a balance, or if you ever take cash advances, read on. Interest on a credit card is charged differently depending on the type of transaction on the card. Maybe you made a new purchase. Maybe you’re carrying a balance from last month, which would be a “previous purchase.” Perhaps you took a cash advance. Or maybe in an attempt to get your interest costs down, you did a balance transfer. New purchases usually don’t attract any interest unless there’s a previous balance on the card or you end up paying after the due date. At that point, the interest clock clicks on back to the date of the purchase. No grace period! If you carry so much as a penny on the balance, then instead of getting a free ride from the date of purchase through to the date owed the following month, the interest clock clicks on the minute you do the transaction. The interest-free or “grace” period never applies to cash advances. Yup, the minute you pull that money off your card, the clock clicks on and you start paying interest, usually on your entire balance. Ditto balance transfers unless you have a special deal going. The interest you’ll pay is calculated in one of two ways: 1) using the “average daily balance method”or 2) using the “daily balance method”. While these calculations are different, they often yield the much the same results. If you don’t much care, skip the next two paragraphs. If you really want to know the difference, well, here ya go:

The interest-free or “grace” period never applies to cash advances. Yup, the minute you pull that money off your card, the clock clicks on and you start paying interest, usually on your entire balance. Ditto balance transfers unless you have a special deal going. 62 metro vancouver new condo Guide JAN 24 - FEB 7, 2014

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Credit cards calculate the average daily balance by adding up the balance at the end of each day and then dividing the total by the number of days in the billing period. The answer is then multiplied by the daily interest rate (the annual interest rate divided by 12). They multiply the result by the number of days in the billing period (30 in June, 31 in July). The daily balance method calculates interest owed at the end of each day. They multiply the daily balance by the daily interest rate, adding up the daily interest charges to obtain the amount of interest charged for the month.

While it may feel like torture to read your credit card agreement, if you don’t you’re walking blind into something that may bite you in the butt down the road. And whenever your credit card company sends out a notification that your terms and conditions have changed, pay attention.

The recent Fed plans to try to protect consumers from the big bad credit card wolves does address this issue, but nothing has been cast in stone yet. So sometime in the future consumer payments may have to be assigned to the balance with the higher rate, or they may be spread Everybody back? between the two or more pots based Credit card companies use one of two methods to decide whether the on the relative size of the balance, interest-free period applies to your new purchases: but who knows. On some cards, the interest-free period applies to your new purchases if While it may feel like torture to you pay your current month’s balance in full by the due date. This can be called read your credit card agreement, “method 1” or “one cycle billing”. if you don’t you’re walking blind into But some credit cards want to penalize you when you carry a balance even for one month. In an interest rate grab, “method 2” or the “two cycle” billing was something that may bite you in the butt down the road. And whenever born. With this method, the interest-free period applies to your new purchases only if you pay your current month’s balance in full, by the due date, and you did your credit card company sends out a notification that your terms not carrying a balance from the previous month. I find it interesting that in all the chatter about cardholder rights and changes and conditions have changed, pay attention. proposed by the Feds to protect consumers, two-cycle billing ever saw the light It was a lack of attention that of day. And where is the protection for people – students in particular – who allowed the Method 2 calculation or are offered credit with no visible means of repayment? And don’t get me started “two-cycle billing”, which was born in on over-limit fees or any of the other rapacious fees credit card companies use the U.S. where credit card companies to compensate for all the bad lending they did. regularly stick it to their customers, to Credit cards can also charge a different interest rate for things like take hold in Canada. If more people introductory offers, cash advances or balance transfers. Since those rates are had had their heads up and rebelled, often calculated in a different ways than the rates charged for purchases, you our lenders would never have kept this need to be careful when you use your cards. option. Now it has a strong foothold, Often, for example, if you do a balance transfer, you should not use that card it would take a tsunami of customer for any additional purchases. Why? Well, while the balance transfer offer may cancellations to have it reversed. seem like a gift, the new purchases interest rate can be through the roof. And That’s ground we’ve lost as consumers since all your payments will go to the “balance transfer” pot first, your “new that we’ll never regain. purchases” pot will continue to accumulate at that much higher interest rate. JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 63

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COQUITLAM/PORT COQUITLAM/PORT MOODY

64 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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COQUITLAM/PORT COQUITLAM/PORT MOODY

Occupancy 2015

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In The News

CIBC Poll Paying Down Debt Named the Top Financial Priority for Canadians Entering 2014

A new poll from CIBC by Harris/Decima finds that

paying down debt remains the top priority for Canadians in 2014, the fourth year in a row that debt concerns have topped the list in the annual survey. The poll results also show that immediate financial concerns including managing day-to-day spending and paying the bills have become more important to Canadians in recent years at the expense of longer term goals like retirement planning. Over the last four years of this CIBC poll, Canadians identified the following as their top financial priorities: 2014

2014

2014

2014

Paying Down Debt

16%

17%

17%

14%

Building Savings

11%

10%

10%

10%

Managing Day-to-Day Spending / Budgeting

8%

8%

14%

12%

Paying Bills / Getting By

8%

7%

3%

--

Retirement Planning

7%

7%

11%

13%

“For the fourth year in a row, Canadians have told us their top financial priority is paying down their debt as we enter a new year,” said Christina Kramer, executive vice president, retail distribution and channel strategy, CIBC. “While the intent to reduce debt is clear we also know that some Canadians are not yet making the progress they want to on reducing their overall debt levels, which speaks to the importance of having a clear action plan in place to reach your goals in 2014.” The “Do-It-Yourself” approach to debt repayment may not be working for some Canadians

The poll findings also revealed that less than half (47 per cent) of Canadians surveyed said they had met with an advisor in the last year. As well, out of those surveyed only 6 per cent named debt management as a topic of a conversation they would have with an advisor. Ms. Kramer noted that while the intention to pay down debt remains strong, it can be challenging if you don’t have a plan in place. “Despite being top of mind for 2014, many Canadians don’t think about sitting down with an advisor and having a conversation about how to reduce their debt,” said Ms. Kramer. “Trying to do-it-yourself can work for some people, but most Canadians would benefit from taking a broader view of their finances with an advisor including looking at their debt, and then working out a realistic plan to start repaying that debt over time.” Short Term Goals Taking Priority

This year’s poll results also show a continued trend towards short-term financial goals and issues becoming more important to Canadians, while longer term goals, including retirement planning, have dropped in the rankings. ›› For example, while retirement planning was named by 13 per cent of Canadians as their top financial priority entering 2011, that number is at seven per cent entering 2014. ›› Conversely, “paying the bills” has grown in importance to Canadians since 2011, and was named by 8 per cent of those polled as their priority for the year ahead. “Managing cash flow and expenses are immediate issues, but you also can’t put off your retirement planning indefinitely,” said Ms. Kramer. “The good news is that if you start early you can take small steps towards building your retirement savings while also focusing on your current financial needs.”

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Advice on Delivering on Financial Priorities

›› Talk to an Advisor Most Canadians don’t think about making debt reduction the topic of a conversation with an advisor. Such a discussion, however, could help you make progress on paying down debt by looking at your overall financial picture and putting realistic steps in place to reduce interest costs and accelerate debt repayment. ›› Recognize that your finances are all connected Making progress on one aspect of your financial goals can lead to an opportunity to improve in others, meaning you needn’t focus on just one priority at a time. For example, a reduction in debt can free up funds to go towards retirement savings or to further accelerate debt reduction. Renewing your mortgage at a lower interest rate can generate an improvement in cash flow that can be used to start making RRSP contributions earlier in life.

›› Don’t lose sight of the longer term While it is important to address immediate financial needs such as debt reduction, it is equally important to keep future goals such as retirement in sight. Even small contributions today can make it easier in future years to reach your retirement savings goals. ›› Stick to your plan Once you have a plan in place, stick to it. If you fall off track, get back to your plan as soon as possible and keep making progress towards your goal.

KEY POLL FINDINGS Top Financial Priorities entering 2014, by region: Paying Down Debt

Building Savings

Managing Spending

Paying Bills /Getting By

Retirement Planning

National

16%

11%

8%

8%

7%

Atlantic Canada

14%

11%

12%

8%

5%

Quebec

12%

6%

10%

11%

6%

Ontario

19%

11%

7%

7%

8%

Manitoba and Saskatchewan

16%

8%

9%

7%

6%

Alberta

20%

17%

6%

3%

6%

British Columbia

12%

14%

8%

8%

7%

Top Financial Priorities entering 2014, by region: Age Bracket

Paying Down Debt

Building Savings

Managing Spending

Paying Bills /Getting By

Retirement Planning

National

16%

11%

8%

8%

7%

18-24

21%

15%

8%

3%

1%

25-34

20%

16%

7%

4%

2%

35-44

26%

14%

6%

8%

6%

45-54

16%

9%

6%

8%

12%

55-64

14%

6%

9%

10%

10%

65+

4%

5%

14%

11%

6%

Percentage of Canadians who named Paying Down Debt their top financial priority by age, 2014 vs. 2013: Age Bracket

2014

1013

18-24

21%

12%

25-34

20%

24%

35-44

26%

28%

45-54

16%

21%

55-64

14%

13%

65+

4%

7%

Renewing your mortgage at a lower interest rate can generate an improvement in cash flow that can be used to start making RRSP contributions earlier in life. JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 67

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VA N C O U V E R | D O W N T O W N VA N C O U V E R SEABUS

RIN

R

E BROADWAY

E BROADWAY

W 12TH AVE KI

10

NG

RENFREW ST

W BROADWAY

E 1ST AVE

E 12TH AVE

SW AY

E KING EDWARD AVE

13

6 ED

W 6TH AVE

QUEEN ELIZABETH PARK

E 33RD AVE

E 29TH AVE

13 11

W 41ST AVE

3

E 41ST AVE

OAK ST

W 57TH AVE

MAIN ST

W 49TH AVE

RI

W 70TH AVE

SW

MA

NE

E 49TH AVE

DR

SE MARIN E

BOUNDARY RD

MA

AVE

VICTORIA DR

SW

8

INAL

KNIGHT ST

W KING EDWARD AVE

PACIFIC SPIRIT PARK

DUNBAR ST

L AL

7

W 16TH AVE

TE R M

MAIN ST

KM

6T

W1

1 9

CAMBIE ST

OO

VE HA

2 W BROADWAY

15 14

CORNWALL AVE

OAK ST

ALMA ST

W 4TH AVE W 10TH AVE

REY RD

5

16 VENABLES ST

COMMERCIAL DR

6 POINT G

JERICHO BEACH PARK

LVD

BR ST WE

UBC

E DR

LLOR B

BURRARD ST

NCE

GRANVILLE ST

CHA

ARBUTUS ST

AR IN

12

MCDONALD ST

NW M

E HASTINGS ST

4

BURRARD INLET

DR

1. 188 KEEFER

7. SAIL

13. THE KERRISDALE GARDENS

2. KITS360

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5. VIEW 388

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6. TATE ON HOWE 1265 Howe St 604-568-8283

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12. KEEFER BLOCK Keefer St & Main St 604.682.8813

68 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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In The News

REMAX Housing Outlook 2014 Housing values have been incredibly stable this year, Remarkable, resilient, rejuvenated propped up by relatively balanced market conditions. — few words better summarize the Ontario-Atlantic Canada markets showed steady price developments in Canadian housing appreciation throughout the year, with Hamiltonmarkets in 2013. From proverbial Burlington, Barrie and District, St. John’s and the Greater underdog to comeback kid, real Toronto Area all reporting increases of five per cent or estate once again out-performed more in 2013. expectations. While the national picture has been quite rosy in terms The RE/MAX Housing Market of sales activity, the regional performance has been spottier Outlook 2014 examined trends and — particularly in Atlantic Canada. East Coast sales have developments in 25 major centres softened over last year’s level, but the region is poised for across the country. Released on future growth. December 11th, the report found that the number of homes sold is expected to match or exceed 2012 levels in twoThe RE/MAX Housing Market thirds of markets examined in 2013. Outlook 2014 examined trends Nationally, home sales are expected to hit a five-year high of 466,000. The and developments in 25 major price of an average Canadian home is forecast to climb to $380,000 — setting centres across the country. a new record for price. Solid economic performance, low interest rates and Not bad for a market that started rising consumer confidence will all factor into next year’s with a whimper as opposed to a bang. outlook. The momentum that emerged in most residential housing markets in the final half of 2013 is expected to spill over into 2014. Sales and average price are on an upward trajectory, with the number of homes changing hands across Canada forecast to climb to 475,000, while average price is expected to edge higher, settling at $390,000 by year-end 2014. The framework is now in place to support steady and sustainable growth in Canadian housing markets over the next few years. After several rounds of mortgage tightening, buyers are more realistic in their pursuits. Most are coming to the table better qualified than ever before. Given underlying fundamentals, the future looks bright for residential real estate in Canada. Check out the forecast for your market in the RE/MAX Housing Market Outlook 2014 at remax.ca. 70 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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VANCOUVER

72 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

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VANCOUVER

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Designer Advice

Get the

faucet facts // by Yanic Simard

Although we may not think twice about the

miracle of running water, it hasn’t always been something to take for granted: the technology has really come a long way since the mixer tap was invented in the 1880s in New Brunswick, Canada. However, even now that we expect every condo kitchen to come complete with perfect plumbing, it’s worth taking a second look at where that water runs from – the functional faucet. Like a wristwatch or cellphone, the faucet is a modern necessity, but I think it should also be treated as a beautiful accessory. As something we see and touch so often, it makes sense to spend a little time making sure to choose just the right one to fit your sink style like a glove. When you’ve got everything else right (including the kitchen sink!), here’s my guide to topping it all off with a tip-top tap.

Working with what you have Upgrading an existing faucet? Consider the options I would give my clients: › Once holes have been drilled for a faucet you can’t easily fill them back in (as sometimes they’re even in the sink itself), so if you aren’t planning on changing your countertop, the easiest solution will be to choose a faucet that uses the same hole count – the number of

individual parts which connect to the plumbing and require their own holes. For a simple update, look for a sleek modern unit with a matching installation, and choose a fresh finish, such as gold, matte black, or a two-tone look (like Blanco’s Posh in a mix of chrome and anthracite). › At one of my Cityline segment tapings on location at PMF Plumbing, I discovered how easy it can be to convert a multi-hole installation (say, a faucet with separate hot and cold taps) to a streamlined single unit (with the tap built onto the faucet), by using a set that includes a cover plate. You may then be able to leave the old holes as is, yet unseen. › Going from a single hole installation to multiple holes will naturally need the counter material to be drilled, which generally requires professional help and can be more costly. However, it does provide a whole new look while saving the counter. Make sure the new faucets use holes that are the same size as the existing, or bigger – connection sizes will vary. › Sometimes it can be possible to have your choice of faucets installed properly as your new condo unit is being built. Check with your condo developer about these details in advance to avoid costly renovations later to get that perfect chef’s kitchen.

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One tap or two? › The original style of faucet uses two separate controls for hot and cold water. It remains a traditional look, and some consider it worth a little extra work. Classic handles speak to a timeless appeal and are easy to grip, so they are also deceptively practical. Where to use it Choose this style to complement a trendy apron-front sink, a traditionalist décor, or to enrich a minimal scheme with jewelry-like fixtures. Try Kohler’s Parq bridge-style faucet. › Modern faucets tend to use one simple lever (or my new favourite, a joystick) to control both temperature and volume of water at the same time. The look is clean and user friendly, which makes it the common choice for contemporary condo spaces. Where to use it Choose this style for ultra-modern to contemporary schemes, or anywhere you want to save a little space and/or time. Try Aquabrass’ Quinoa faucet with a joystick, like I just had installed in my own home kitchen.

Pull down versus pull out A hand-held spray is considered almost essential, but there are two subtly different styles you may not have thought to consider:

› A separate hand spray (next to the main faucet) or a large piece that must be pulled upward to detach from the faucet is a pull-out spray. These are generally held more like a spray gun and require some clearance above the unit to pull upwards easily. › A pull-down unit is often considered more quick and compact as the spray portion is already aimed toward the sink, and can simply be pulled straight down to reach things. However some people may find these harder to control or aim, or use on items outside the sink. › The choice comes down mostly to personal preference, so try both in a showroom and see what feels right. Either way, higher quality units will generally have more controls right on the head so you can switch between spraying modes without needing a second free hand.

Don’t finish last The finish on your faucet can make all the difference. Here are a few guidelines to the many options available: ›› Polished The sparkle of a polished metal finish will be more prone to spotting, but produce the most dazzling look.

The choice comes down mostly to personal preference, so try both in a showroom and see what feels right JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 75

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›› Brushed Brushed finishes will avoid watermarks, making them easier to maintain, with a more matte, subdued appeal. ›› Nickel Similar to stainless steel and chrome, nickel gives a classic silvery hue with a hint of modern warmth. ›› Brass Warm finishes are back in style for kitchen fixtures, and mix well with other metals. Look to brass for a demure gold tone. I had my faucet specially plated to this finish and the effect is brilliant with my stainless steel appliances. ›› Bronze Blackened bronze finishes tend to look antique, lending a more traditional look which generally suits-apron front sinks and country cabinets. ›› Black/Gunmetal Crisp dark finishes also usually hide spots, and give a cool, masculine counterpoint to pretty materials like marble. ›› Coloured If you feel brave, a colourized finish (in anodized metal or another material) will add a pop and personality. Choose a hue you’ve always loved to make sure to avoid passing trends.

Quick guide by sink style ›› Single sink The choice of type is up to you, as nearly any faucet will work with a medium-sized single sink. Consider implementing an extradeep sink, to compensate for the lost width, and keep in mind that for any sink the faucet should extend 1/3-1/2 the length of the sink for comfortable reach. ›› Compact sink A minimal one-piece faucet with a built-in single tap and pull-down spray stays out of the way and looks scale-appropriate. ›› Double or large sink A hand spray is definitely recommended for reaching all areas, and the tap should swing freely to serve both sides – install it centred. Try a tall arched style to stay visually proportionate. ›› Island If you have a sink near your cooktop, consider a long arm faucet and/or hand spray that can reach to fill pots right on the element. For prep sinks use a smaller version of your main faucet, but don’t skip the spray. That prep work needs the precision even more. tip Where there’s room at a large sink, a small cold-only tap (tucked to one side) can connect to a hidden filter system for convenient drinking water.

Blackened bronze finishes tend to look antique, lending a more traditional look which generally suits apron-front sinks and country cabinets

Ultimately, there are nearly infinite combinations of fixtures to choose from, so if your kitchen conundrum is still leaving you puzzled, feel free to call on me (in person or via Skype) to help you find the perfect faucet fit. For more information, visit tidg.ca.

Yanic Simard is the design editor of New Condo Guide and principal designer of the Toronto Interior Design Group. Specializing in residential and commercial projects, Yanic often applies his signature high/low and old/new combination design techniques in developing unique interiors. Simard has created designs for clients in Toronto, Montreal and Miami, and has appeared as a regular guest expert on Citytv’s CityLine. For more information visit tidg.ca.

76 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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homebuyers’ help

condo buyers’

resource section

You love the condo, see what you can afford! Calculate your mortgage payments using the mortgage payment calculation chart

JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 77

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homebuyers’ help

Calculate your mortgage payments interest rate

amortization period

chart figure

mortgage amount ÷ 1,000

monthly payment

example: 5%

25 years

5.82

125 (mortgage amount $125,000)

$

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly before-tax income of you and your spouse. 02 Divide by three. This figure is the monthly payment you can afford to make on your condo. 03 Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

04 Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.) 05 Multiply this figure by the amount you need to borrow. Divide by 1,000.

06 Add to this your estimated monthly heating costs and monthly property taxes. 07 If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

78 metro vancouver new Condo Guide JAN 24 - FEB 7, 2014

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Mortgage payment calculation chart

%

Amortization Periods

Interest Rates

10 years

15 years

20 years

25 years

30 Years

3.00%

9.65

6.90

5.54

4.73

4.21

3.25%

9.76

7.02

5.66

4.86

4.34

3.50%

9.88

7.14

5.79

4.99

4.48

3.75%

9.99

7.26

5.91

5.13

4.61

4.00%

7.38

6.04

5.26

4.76

10.11

4.25%

10.23

7.50

6.17

5.40

4.90

4.50%

10.34

7.63

6.30

5.53

5.04

4.75%

10.46

7.75

6.44

5.67

5.19

5.00%

10.58

7.88

6.57

5.82

5.34

5.25%

10.70

8.01

6.74

5.96

5.49

5.50%

10.82

8.14

6.85

6.10

5.64

5.75%

10.94

8.27

6.98

6.25

5.79

6.00%

11.07

8.40

7.12

6.40

5.95

6.25%

11.19

8.53

7.26

6.55

6.11

6.50%

11.31

8.66

7.41

6.70

6.26

6.75%

11.43

8.80

7.55

6.85

6.42

7.00%

11.56

8.93

7.69

7.00

6.59

7.25%

11.68

9.07

7.84

7.16

6.75

7.50%

11.81

9.21

7.99

7.32

6.91

7.75%

11.94

9.34

8.14

7.47

7.08

8.00%

12.06

9.48

8.28

7.63

7.25

8.25%

12.19

9.62

8.44

7.79

7.42

8.50%

12.32

9.76

8.59

7.95

7.59

8.75%

12.45

9.90

8.74

8.12

7.76

9.00%

12.58

10.05

8.86

8.28

7.93

9.25%

12.71

10.19

9.05

8.45

8.10

9.50%

12.84

10.33

9.20

8.62

8.28

9.75%

12.97

10.48

9.36

8.78

8.45

10.00%

13.10

10.63

9.52

8.95

8.63

10.25%

13.24

10.77

9.68

9.12

8.80

10.50%

13.37

10.92

9.84

9.29

8.98

10.75%

13.50

11.06

10.00

9.46

9.16

11.00%

13.64

11.22

10.16

9.63

9.34

11.25%

13.77

11.36

10.32

9.80

9.52

11.50%

13.91

11.52

10.49

9.97

9.70

11.75%

14.04

11.66

10.65

10.15

9.88

12.00%

14.18

11.82

10.81

10.32

10.06

12.25%

14.32

11.97

10.98

10.49

10.25

12.50%

14.46

12.13

11.15

10.67

10.43

12.75%

14.59

12.28

11.31

10.85

10.61

This table shows the monthly payment of principal and interest for each $1,000 of mortgage. Example: The monthly principal and interest payment for a $125,000 mortgage with a 25-year amortization period at 5% is as follows: ($125,000 รท 1,000) X 5.82 = $727.50 JAN 24 - FEB 7, 2014 metro vancouver new Condo Guide 79

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BRITISH COLUMBIA’S

NEW CONDO DEVELOPMENTS PROJ ECT

TYPE

C O N TA C T

PRICE

LR LR LR HR LR

604.854.1201 604.746.3496 604.557.1047 604.746.1551 604.850.3694

Call From $169,900 Call Call From $179,900

604.456.8883 604.291.9130 theamazingbrentwood.com libertyhomes.ca 778.331.0348 604.288.7394 604.320.3386 liveatburnabyheights.com 604.899.8800 604.899.8800 604.435.9477 604.435.9477 604.435.8866 604.439.9580 604.456.0688 604.431.6033 604.754.7338 604.437.0100 604.294.4995 604.527.7955 604.525.8496 604.435.8866 604.298.8800 604.438.1113 604.218.3338 veniceliving.ca 604.970.9606 604.874.9232

From Mid $200’s Call Coming Soon Coming Soon From $209,900 Coming Soon Call Coming Soon From $349,800 Coming Soon Call From $439,900 From $495,900 From $377,900 From $389,900 Call From $274,900 From $239,900 Call Call Call From Low $300’s From Low $300’s Call From $249,900 Coming Soon From $259,900 From $299,000

PROJ ECT

BURNABY

Altitude Aviara Brentwood CentreBlock at Univercity Highland House Kabana Lift Madison Met 1, The Met 2, The Metro One Metro Two Metroplace Moda Modello OakTerra Oro Panacasa Perspectives Red Bricks Reflections Silver Solo District Station Square Trio Venice Vibe Wall Centre Central Park

HR HR HR HR MR LR LR/TH LR HR HR LR LR HR HR HR LR LR LR/TH HR LR HR HR HR HR LR LR LR HR

HR LR LR LR LR HR HR LR HR HR LR LR HR LR

604.942.8416 604.492.3388 604.939.0018 604.936.2012 604.936.9300 604.942.2672 604.936.1888 778.829.1500 604.472.9555 604.472.9555 604.288.9888 604.939.8874 604.464.2701 604.492.0222

From $369,900 Call From $189,900 From $339,900 incl. all tax Call From $267,900 From $309,900 From $220,500 From $599,900 From $291,900 Call From $199,900 Call From $199,900

LR

604.940.5533

From $324,900

LR HR

604.590.8003 604.594.7473

From $199,900 From $189,000

LR LR HR LR LR LR LR LR LR LR LR

604.882.8857 604.530.7011 604.534.7974 604.534.6000 604.533.7718 604.377.7000 604.427.3311 604.635.0643 604.514.1530 604.539.2200 yorksoncreek.com

From $137,500 From $194,900 Coming Soon From $199,900 From $159,900 Coming Soon From $199,900 Call From $224,900 From $139,900 From $179,900

LR LR LR LR LR LR LR

604.463.0588 604.318.5254 604.466.8783 604.477.1500 604.467.8884 604.467.9300 604.380.0300

From $139,900 Call From $149,900 Call Call Coming Soon From $189,900

Canu NORTH DELTA

Luxor Delta Rise LANGLEY

Athenry Gate Bearing Pointe Charleston Place Cornerstone Elements Focal Pointe Kensington Serenade Suede Varsity Yorkson Creek MAPLE RIDGE

SF/LR/TH LR

604.824.5062 1.800.830.7175

Call From $184,900

HR HR LR/TH

604.472.1123 604.931.0302 604.939.8808

Call From Low $200’s From $249,900

223 North Cascada Edge on Edge Falcon Centre Parc Vue Station One Wellington Station

COQUITLAM

1123 Westwood Austin Bloom

PRICE

LADNER

CHILLIWACK / SARDIS

Garrison Crossing La Cason

C O N TA C T

Celadon Charland Como Easton Emerson Evergreen Grand Central 2 Hazel MTwo MThree Maya Mackin Park Oasis Regan’s Walk

ABBOTSFORD

Abacus Uptown Brooklyn Lift Mahogany at Mill Lake Waterleaf

TYPE

Penthouse (PH)

Live Work (LW)

Real Estate Sales & Marketing From the ground up

City Home (CH)

High Rise (HR)

Mid Rise (MR)

Low Rise (LR)

Loft (LO)

Townhouse (TH)

Representing the best in New Home Sales across the Lower Mainland from Townhomes to Condos. Homes starting in the $150’s

FIFTHAVE.CA 80 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

080-081-082-CG Listings Pages 2013.indd 80

2014-01-17 5:07 PM


all tax

The listings included on the following pages are meant to offer a comprehensive overview of those new home developments currently being marketed throughout Greater Vancouver and the Fraser Valley. Pricing is subject to change; you should contact the specific development for current details or special promotions. To report any changes or corrections to this information, please contact our office at 604.519.6080, fax 604.519.6088, or email homes@wall2wallmedia.com PROJ ECT

T Y P E C O N TA C T P R I C E

PROJ ECT

T Y P E C O N TA C T P R I C E

NEW WESTMINSTER

PORT COQUITLAM

258 on Sixth HR 604.377.9630 Call Brewery District HR 604.694.1188 Coming Soon Carlyle at Victoria Hill HR 604.523.0733 Call 604.525.8980 Call Dominion HR From $218,900 Duo at Port Royal LR 604.520.9890 Elliot St HR 604.524.8080 From $224,900 Glass House Lofts LR 604.520.9890 Call LR 604.523.0733 Call Grove, The Lookout at Victoria Hill, The LR 605.523.0733 From $239,900 HR 604.523.0081 From $266,000 Northbank Parksie HR 604.523.0733 Call HR 604.523.0733 From $239,900 Parkside at Victoria Hill HR 604.525.0223 From $299,900 Trapp & Holbrook LR 604.522.2583 From $321,900 Viceroy

Altura Avanti Burleigh Walk Carmandy La Via Orchid Shaughnessy, The South Verde Valorie on the Park Residences, The Alexandra Court Camber Cadence Carrera Centro Concord Gardens Emerald Gardens, The Harmony Monet Opal at Richmond Centre Ora Pier, The Remy River Park Place River Inlet Tempo Saffron

Penthouse (PH)

City Home (CH)

604.552.0552

Call

LR LR/HR HR HR HR/TH HR HR/TH LR HR HR HR HR LR LR HR MR/TH HR LR

604.278.5809 From $314,900 604.276.0677 Call 604.276.868 Call 604.244.7721 Call 604.270.8305 From $389,900 604.233.7748 From $300,000’s 604.244.8333 From $296,000 604.271.3331 From $254,900 604.278.3939 From $288,800 604.233.7748 From $300,000’s 604.303.7575 From $464,900 604.278.8838 Call 604.274.7326 Call 604.279.8866 From $211,900 From $229,900 604.282.7838 604.233.2633 Call www.amacon Coming Soon 604.270.2482 Call

TH/LR TH LR

1.877.344.5566 604.898.2232 1.888.852.7575

From $239,000 Coming Soon Call

HR LR LR LR LR

604.957.3331 604.596.2202 tiensher.com 778.395.1886 604.530.5399

Call From $170’s Coming Soon From $118,800 From $219,900

SURREY

3 Civic Plaza Ascend Balance Connect Esplanade at Waterstone

Call From $134,900

Live Work (LW)

HR

SQUAMISH / WHISTLER

Aqua Elaho University Heights

PITT MEADOWS

778.846.3200 604.460.6601

From $219,900 Call From low $199,900 From $209,900 From $169,900 From $149,900 Call Call From $246,900

RICHMOND

15 West HR 604.980.9949 From $340,000 LR Coming Soon 221 East 3rd LR/LW 604.984.0700 From $299,000 700 Marine Drive Anchor, The HR 604.988.8800 From Mid $200’s MR/TH 604.983.9065 Call Atrium at the Pier Canyon Springs LR 604.973.0298 Coming Soon MR 604.929.8870 Call Capstone Destiny 2 at Raven Woods LR 604.929.1915 From $288,900 Drive, The LR 604.986.8138 Call Heywood on the Park LR 604.985.0003 From $288,900 Landing, The MR 604.983.9065 Call Local on Lonsdale HR/LR/TH 604.998.0219 From $309,900 Maplewood North LR 604.727.1594 From $378,900 Northlands LR 604.800.2120 From $244,900 LR 604.638.6240 From $309,900 Orizon Pinnacle Residences at the Pier MR 604.983.9065 Call Prescott, The HR 604.969.3333 From Mid $200’s Queen Mary LR 604.770.1645 From $349,900 Remix LR 604.924.4488 Call HR 604.980,5000 Coming Soon Seylynn Vilage Shore, The LR 604.980.0016 Call

LR LR

604.552.5887 604.468.2707 604.464.5856 604.435.9477 604.475.5100 604.866.4206 604.468.8252 604.468.8252 604.464.4764

PORT MOODY

NORTH VANCOUVER

Cedar Downs Liv42

LR LR LR LR LR LR HR LR LR

High Rise (HR)

Mid Rise (MR)

Low Rise (LR)

Loft (LO)

Townhouse (TH)

JAN 24 - FEB 7, 2014 METRO VANCOUVER NEW CONDO GUIDE 81

080-081-082-CG Listings Pages 2013.indd 81

2014-01-17 5:07 PM


PROJ ECT

G3 Residences Latitude Lingo Lumina Manarola Park Avenue Park Central Quattro Ultra at West Village Verve Wave

T Y P E C O N TA C T P R I C E

HR LR LR LR LR HR LR LR TH/HR LR HR

604.453.6688 604.596.5075 604.727.5478 604.727.5478 604.825.1038 604.583.9866 604.817.5852 604.581.8000 604.588.6999 604.588.3783 604.951.9283

PROJ ECT

Call From $264,900 From $159,900 From $274,900 From $179,900 Incl. GST From $250,000 From $289,900 From $159,900 From $186,900 From $160’s From $279,900

CLOVERDALE

Latis One92 Salix

LR LR LR

604.575.0669 604.576.1772 604.530.0054

From $194,900 From $199,900 From $229,900

VANCOUVER & AREA DOWNTOWN

999 Seymour HR Fairmont Pacific Rim Estates HR Keefer 188 LR Keefer Block LR Maddox HR Mark, The HR Modern HR One Pacific HR Pacific Pt. HR Private Residences at Hotel Georgia, The HR Ritz, The HR Rolston, The HR Sapphire, The HR Tate on Howe HR

604.879.9996 From $327,400 604.781.4303 Call 604.620.2018 From $239,900 604.682.8813 From $269,900 604.669.8200 $389,900 604.687.4353 Call amacon.com From $300’s 604.899.8800 From Low $300’s 604.685.0855 From $349,900 604.682.8107 Call 604.876.9222 From $829,900 604.688.8927 Call 604.876.9222 From $699,900 604.568.8283 From $268,000

LR LR HR LR HR LR LR MR LR LR LR MR LR HR LR MR HR

Live Work (LW)

City Home (CH)

5555 Dunbar LR 6 & Fir HR Academy HR Arbutus Ridge MR Binning Tower HR Cambie & 7th HR/TH Elizabeth LR Empire at QE Park LR Granville at 70th HR James MR Kerrisdale Gardens MR Kits360 LR Lido HR MC2 HR Meccanica HR Opsal HR Pinnacle Living Broadway MR Pinnacle Living False Creek MR Prelude MR Radius LR Riley, The LR Sail LR Shannon Wall Centre Kerrisdale LR Sixth and Willow The Village on False Creek HR Westerly, The LR Yu MR Brio Tsawwassen Springs

604.568.7551 Call 604.899.8858 From $449,900 604.228.8895 Call 604.738.0001 Call 604.646.1111 From $499,900 604.568.5060 Call 604.877.1722 Call 604.687.8800 Coming Soon 604.687.2298 Call 604.675.1000 From $424,900 604.559.9848 Call 604.737.0360 From $379,900 604.872.2672 From $458,900 604.638.9998 From $259,000 604.876.8819 From $394,900 604.876.7332 Call 604.739.2080 From $429,900 604.874.8368 From $369,900 778.986.7860 Call 604.731.5528 Coming Soon 604.616.7008 From $347,500 604.221.8878 Call 604.267.8882 Call sixthandwillow.com Coming Soon 604.733.2010 From $390,500 604.558.3399 From $300,000’s 604.827.3488 From $452,400

LR SF/LR

604.943.8811 Call 604.948.HOME Call

WEST VANCOUVER

Evelyn Galleries on the Bay

238westbroadway.ca Call 604.800.8862 From $269,900 604.682.8801 Call 604.569.3388 From $227,900 604.687.4353 Call 604.330.8838 From $266,900 604.569.1555 Call 604.872.0331 From $269,900 604.620.7886 Call 604.688.5527 From $349,900 604.877.1116 From $339,900 604.261.3936 Coming Soon 604.434.2205 Coming Soon 604.436.1100 Call 604.303.8838 From $219,900 604.683.0900 From $249,900 604.874.9232 From $299,900 Penthouse (PH)

WEST SIDE

TSAWWASSEN

EAST SIDE

238 W Broadway 2nd & Commercial Block One Bohème Central Charm Collection 45 Evan Kensington Gardens Local Main Street Shine Shoreline Skyway View338 Wall Centre 900 Hastings Wall Centre Central Park

T Y P E C O N TA C T P R I C E

LR LR

604.922.0330 Call 604.836.7355 From $490,000

WHITE ROCK / SOUTH SURREY

Adagio Avra Edgewater Gemini Headwaters Heights, The Kingston House Morgan Crossing Newport at West Beach River’s Edge Royce Saltaire Sausalito Winter Street High Rise (HR)

Mid Rise (MR)

Low Rise (LR)

LR HR LR LR LR LR LR LR LR LR LR LR LR LR Loft (LO)

604.531.6659 From $288,900 604.531.9030 From $319,900 604.535.9655 From $229,900 604.536.1663 Call 604.535.1451 From $259,000 778.545.8737 Call 604.541.8092 Coming Soon 604.582.1336 From $275,900 604.536.0256 From $259,000 604.318.5254 From $159,900 604.538.8028 From $332,900 604.560.1656 Call 604.538.3237 Call 604.364.7455 From $299,900

Townhouse (TH)

New homes available throughout

www.macmarketingsolutions.com Metro Vancouver & Calgary We sell the homes you want to buy. /MacMarketingSolutions

@MAC_Marketing

/MACMSTube

82 METRO VANCOUVER NEW CONDO GUIDE JAN 24 - FEB 7, 2014

080-081-082-CG Listings Pages 2013.indd 82

2014-01-17 5:07 PM


IN THE MARKET FOR A

NEW HOUSE

OR A CONDO?

We think finding a home is a lot more than simply finding the right property. That’s why we put you right in the middle of the search process.

Search your favorite neighbourhood

Find out about nearby services and amenities

View new construction projects and register to get the latest info

Visit the new real estate section on canpages.ca and start looking for that special place. Powered by

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O W N I N G A H O M E AT BRENTWOOD IS GOING TO BE

A M A Z I NG THE AMAZING BRENTWOOD WILL TRANSFORM BURNABY’S WILLINGDON AND LOUGHEED CORNER

INTO THE LARGEST AND MOST IMPRESSIVE NEW RESIDENTIAL COMMUNITY IN METRO VANCOUVER.

W IL LI N G DO

N AV E.

G LOU

HEE

W D H

Y.

LIVE ATOP A 28-ACRE SHOPPING, DINING, ENTERTAINMENT DISTRICT AND EVENT PLAZA • EVERYTHING YOU’LL EVER NEED IS AN ELEVATOR RIDE AWAY • BRENTWOOD SKYTRAIN IS READY TO TAKE YOU ANYWHERE, FROM DOWNTOWN TO YVR • INCREDIBLE HOMES OFFER VIEWS THAT START WHERE EVERYONE ELSE’S LEAVE OFF.

REGISTER TODAY. OWN IT 2014.

T H E A M A Z I N G B R E N T W O O D.COM

WILLINGDON AVE.

THE HOMES, THE VALUE, THE INVESTMENT, THE EXPERIENCE WILL BE NOTHING SHORT OF AMAZING.

LOUGH EED HWY.

The developer reserves the right to make changes and modifications to the information contained herein without prior notice. This is not an offering for sale. E.&O.E.

084-Brentwood 01-24-14.indd 1

2014-01-17 4:46 PM


BC New Condo Guide - Jan 24, 2014