BC New Condo Guide - Jul 24, 2015 by NextHome

July 24 - Aug 7, 2015 Volume 05 Issue 15

EXPERIENCE QUINTESSENTIAL VANCOUVER Discover Life at 1st & Quebec REGISTER TODAY

thecreekbyconcert.com INSIDE THIS ISSUE

THINKING ABOUT AN INVESTMENT CONDO?

NEIGHBOURHOOD SPOTLIGHT ON KERRISDALE

TRANSIT VOTE: WHAT HAPPENS NOW?

1 – 3 BEDROOM + DEN HOMES. $299,900 – $692,900

778.398.1344 OR ARAGON.CA/PORTAGE 260 SALTER ST, NEW WESTMINSTER

#ARAGONFORWARD

Aragon Properties Ltd. specifications, features and prices without notice. Please refer to disclosure statement for specific offering details. E.&O.E.

*In our continuing effort to improve and maintain the highest standard, the developer reserves the right to modify or change plans,

THINK WE’RE SELLING THE DREAM? NO, THESE WATERFRONT HOMES ARE FOR REAL. NOW SELLING

WHEN YOU’RE HOT, YOU’RE HOT. GREAT DESIGN IS NATURALLY BEAUTIFUL.

PORTAGE Situated along the Fraser River in Queensborough, these 2 buildings draw from their natural landscape and use design to be both beautiful and liveable. The first 48 homes, consisting of 1–3 bedroom + den condo and loft homes, will defy your expectations of what comes standard’ in an Aragon home. Come visit our 2 designer display homes! MOVE-IN READY.

778.398.1344 OR ARAGON.CA/PORTAGE 260 SALTER ST, NEW WEST

#ARAGONFORWARD

*In our continuing effort to improve and maintain the highest standard, the developer reserves the right to modify or change plans, specifications, features and prices without notice. Please refer to disclosure statement for specific offering details. E.&O.E.

NOW SELLING!

COLLECTION OF ARAGON HOMES

VISIT ARAGON.CA

2 HOMES AVAILABLE

2–4 bedroom waterfront penthouse lofts available. Viewing available by appointment: 604.520.9890

Heavier

105 AVE

156 ST

154 ST

152 ST

104 AVE

100 AVE

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 3

D 5 EP % O SI T

A FRESH START AT EVERGREEN

BOSA IS PEACE OF MIND, EVERYTIME. CONCRETE CONSTRUCTION, IN A GREAT NEIGHBOURHOOD, BY RAPID TRANSIT. MOVE IN THIS SUMMER 2015. Just outside your front door is the brand new Evergreen line, groceries, green spaces, cafĂŠs, and Coquitlam Centre Mall. Now is the perfect time to start fresh in a new Bosa Properties home. SUITE

TYPE

SQ FT

PRICE

1207 1308 1908 2905

F Plan (2 Bed) B1 Plan (1 Bed + Den) B2 Plan (1 Bed) K1 Plan (2 Bed Sub-Penthouse)

853 591 591 957

$423,900 $295,900 $307,900 $598,900

VISIT US AT OUR NEW GREETING CENTRE AT: 3007 Glen Drive (at Pinetree Way) Coquitlam Open Daily 12-6pm

604.942.2672

bosaproperties.com * Evergreen is developed by Bosa Properties (Evergreen) Inc. Renderings, sketches, layouts and finishes are representational only. Prices subject to change without notice. E.&O.E.

4 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

2 ,9 V E 59 S A $3 & M R E RO PA F M MS CO O O DR

METRO VANCOUVER’S

FASTEST SELLING COMMUNITY OF 2015 COME FIND OUT WHY

NOW SELLING

SALES CLOSED

Enthusiasm for New Westminster has been unprecedented—it’s like Gastown with waterfront. That’s why RiverSky’s first tower sold so quickly— and RiverSky2 promises more of the same. It’s right on the waterfront esplanade and steps from SkyTrain. The shops and cafes of River Market are next door.

1–3 BEDROOMS PRICED FROM $291,900

Sales Centre open daily 12pm–6pm 659 Columbia Street, New Westminster

RiverSky2 is developed by Bosa Properties (RiverSky Land) Inc. Renderings, sketches, layouts and finishes are representational only. Prices subject to change without notice. E. & O.E.

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 5

6 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

CONTENTS

JULY 24 - AUG 7, 2015

VOLUME 15

COVER STORY

ISSUE 15

IN EVERY ISSUE 12 Editor’s Note

FEATURE 20 Spotlight on Kerrisdale Live in a charming village in the middle of the city by Stephanie MacDonald

24 Eat Around Town The top five neighbourhoods in the city for foodies by Stephanie MacDonald

46 10 Minutes with Townline’s Chris Colbeck Talks about buying an investment condo by Susan M Boyce

COLUMNS 30 Hot off the Web Catching up with what’s going down online at ypnexthome.ca by Diane Duflot

36 Inside Mortgages Bank of Canada lowers rate again: what does this mean for borrowers? by Kris Grasty

56 Condo Sense The transit referendum produced a “no” result: Where do we go from here? by Cameron McNeill

at the Creek 16 Voda Quintessential Vancouver living in Southeast False Creek by Susan M Boyce

62 Taxing Issues Information on Expenditures and Capital Items by Henry Choo Chong

STERLING by Cressey

37 ELEGANT

KERRISDALE RESIDENCES

The homes youâ€™ve been waiting for from a respected builder Sterling by Cressey offers what so many people have been asking for: spacious, meticulously designed homes within picturesque Kerrisdale. This limited collection of two and three-bedroom residences and penthouses live exactly as a single family home should, offering the grandeur of an elegant, brand new space plus the freedom to leave at a momentâ€™s notice to travel as you please.

R E G I STE R NOW

604.428.8858

S t e r l i n g B y C r e s s ey. c o m

This is not an offering for sale. Such an offering can only be made after filing a disclosure statement. E&O.E.

CONDO PROFILE

PRESIDENT, YP NEXTHOME

Jacqueline Hill

Chroma Living life in full colour in Guildford

EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES, NATIONAL

Moe Lalani

by Susan M Boyce

SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Tammy Leung EDITOR

Stephanie MacDonald

CONTRIBUTING EDITORS

Lydia McNutt Sara Duck Wayne Karl

Novella Where your story unfolds

DESIGN EDITOR

Yanic Simard

by Susan M Boyce

MEDIA CONSULTANTS

Dave Bird 604.319.7102 Brenda Everitt 604.319.7103 SALES COORDINATOR

Justin Salvador

PRODUCTION MANAGER

Uptown Your new upscale home in Coquitlam

Bala Gnanapandithan GRAPHIC DESIGNERS

Miguel Cea Mike Terentiev

by Susan M Boyce

PRODUCTION CO-ORDINATOR

Bei Zhang CONTRIBUTING EDITORIAL WRITER

Susan M Boyce

IN THE NEWS 32 REBGV Report June was a record-breaking month in residential sales

MAPS 14 Vancouver 26 Surrey/Langley 38 South Surrey/White Rock

HOMEBUYERS’ HELP 40 Condo Market Watch Checking out what’s new and hot in Vancouver’s residential marketplace and beyond by Susan M Boyce

65 Listings Directory

42 Burnaby/New Westminster 48 Maple Ridge/Pitt Meadows 52 Richmond 54 North shore/Squamish/Whistler 58 Tri-Cities

Published by

4180 Lougheed Highway Suite 102 Burnaby BC V5C 6A7 T 604.519.6080 F 604.519.6088 newhomeandcondoguide.ca ADVERTISING Call 604.519.6080 for advertising rates and information.

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

EDITOR’S NOTE

THERE’S NEVER BEEN A BETTER TIME TO BUY

SUSAN LEGGE Editor-in-chief Yellow Pages NextHome Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge Like us on facebook search: Condo Guide

The Bank of Canada’s most recent rate announcement – holding its interest rate target at 0.5 per cent – is the continuation of good news for prospective homebuyers and those otherwise in the market for a new 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 pre-approval 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 there could be some movement later this year. (BoC’s next rate announcement is in the fall.) 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. Take advantage while you still can.

HOT WEATHER AND A HOT MARKET

STEPHANIE MACDONALD Editor Yellow Pages NextHome Stephanie.MacDonald@ypnexthome.ca

12 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Well summer’s here, and the pavement is sizzling. Surprisingly, so is the real estate market. Normally people take the summer off to go on vacation and laze around beaches or swimming pools, but evidently this year people have decided their recreational activities will include camping out on a sidewalk to be first in line to scoop up a beautiful new pre-sale condo or townhome in one of Metro Vancouver’s exciting new developments. As we have pointed out over the last couple of months, the summertime can be a great time to look for a new home for many reasons. This year, one of those reasons is the great opportunity to buy into one of the sought-after new highrises and townhome developments springing up very close to new Skytrain and transit hubs all over the Lower Mainland. First in line means first choice for the home, the floorplan and the view you want the most. While others spend the summer flopped on a beach towel with a trashy novel, those with the foresight to get in on the action first just might have the last laugh — if not the tan lines.

2 bedroom + den homes in a quiet, terraced spot in White Rock Quality concrete construction for a quiet living experience The CresseyKitchenTM – the most celebrated kitchen on the market today, with great flow and so much storage Air conditioning & spacious balconies for the perfect outdoor living room Enjoy the The Beverley Club with a year-round pool, lounge and fitness facility An on-site concierge and no-maintenance home – so you can come and go with ease Barbecue on Beverley’s rooftop patio, where the fresh-air lounges and dining areas make everything taste better

1,047 - 1,289 Sq. Ft. homes from $589,900 to $710,900

Visit us Today. 1479 Vidal St., White Rock 12-5pm Daily (Except Fridays)

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

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

L AL

W KING EDWARD AVE

DUNBAR ST

PACIFIC SPIRIT PARK

RIN

COMMERCIAL DR

10 E BROADWAY

W 12TH AVE KI

E 12TH AVE

SW AY

E KING EDWARD AVE

14 QUEEN ELIZABETH PARK

W 41ST AVE

E 1ST AVE

E 33RD AVE

E 41ST AVE

OAK ST

MAIN ST

W 49TH AVE 9

W 57TH AVE

5 RI

W 70TH AVE

E 29TH AVE

D NE

E 49TH AVE

VICTORIA DR

W 16TH AVE

AVE

E BROADWAY

MAIN ST

W BROADWAY

CAMBIE ST

OO W

AVE

INAL

W 6TH AVE

OAK ST

ALMA ST

W 10TH AVE

CORNWALL AVE

TE R M

KNIGHT ST

REY RD

BURRARD ST

JERICHO BEACH PARK

8 7

GRANVILLE ST

POINT G

W 4TH AVE

H 16T

VENABLES ST

LVD

BR ST WE

UBC

E DR

LLOR B

ARBUTUS ST

NCE

MCDONALD ST

AR IN

CHA

E HASTINGS ST

1 SE MARIN E

1. RHYTHM

4. MODERN

8. THE CREEK

12. RIVER DISTRICT

2. APERTURE

5. PARK & METRO

9. STERLING

13. FRAMEWORK

6. TATE DOWNTOWN

10. RENFREW & 2ND

14. EAST PARK

7. PROXIMITY

11. ADDITION

3202 Riverwalk Ave 604.437.5315 Presentation Centre in Oakridge Mall (south entrance, near Kin's Market) 778.616.7008

3. MERCER BY CRESSEY 3456 Commercial Dr 604.879.6400

14 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

1001 Harwood St 604.879.2010

688 SW Marine Drive 604.325.8111 1265 Howe St 604.568.8283

2nd Ave & Ont 604.731.3500

95 East 1ar Ave thecreekbyconcert.com

49th & West Boulevard 604.428.8858

1831 Renfrew St 604-830-3938 1149 Hornby St 604.620.6692

3302 North Arm Ave 604.879.8830

Pender & Main Street 604.620.6223

4236 Main Street 604.879.3257

BOUNDARY RD

NW M

RENFREW ST

BURRARD INLET

EXPERIENCE QUINTESSENTIAL VANCOUVER REGISTER ONLINE TO PREVIEW NOW Vancouver is famously active, a city of paddlers, hikers, runners, climbers and cyclists. It’s time to get in gear and be among the first to experience Voda, a 16-storey collection of condominium homes with stunning water, mountain and city views. Voda is where The Creek makes its debut. Discover the home of quintessential Vancouver—waterfront and park side in Southeast False Creek.

Discover Life at 1st & Quebec REGISTER TODAY thecreekbyconcert.com July 2015. E.&.O.E. Concert Realty Services Ltd.

COVER STORY

VODA AT THE CREEK Quintessential Vancouver OKAY, ADMIT IT. Every time you cycle past the property on the southeast corner of False Creek you dream about what it would be like to live adjacent to the Seawall and the water. Yeah, me too. Well, your wait is almost over because Voda, the first phase of condominium homes at The Creek by 16 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

By Susan M Boyce

Concert Properties, begins sales to interested registrants on July 25th. And from the buzz in the sales centre at today’s special preview event, there’s no doubt in my mind that this is going to become one incredible, waterfront community. “The Southeast False Creek neighbourhood is so popular and so

connected to… well, to everywhere and everything,” says senior sales manager Gwen Tang. No kidding. Within a couple of minutes, we’ve compared notes on our favourites from over a dozen local coffee shops, almost half a dozen nearby brew pubs, plus multiple theatres, galleries, boutique grocery stores, and bike shops. And we haven’t

æ AT A GLANCE

Location Vancouver Community Southeast False Creek Home Type Condominiums Builder Concert Properties Sales Centre 1551 Quebec Street Contact thecreekbyconcert.com 604.681.8282

even begun discussing the fashion shops on Main Street or diverse offerings of Chinatown, Gastown, or Granville Island — all within easy walking distance. “Over 2.7 acres of the property will be developed as a city park, and there will be several inner courtyards with water features and green spaces,” Gwen says pointing to the scale model. Even more intriguing, though, is Railspur Mews — a meandering pathway that will be covered with a

net of twinkling lights and paved to resemble one of the many railway tracks that used to be part of this neighbourhood’s industrial heritage. Now I really can’t wait to see what the homes themselves are going to be like. Urban sophistication “Well, I could be ready to move here in about five minutes — look at that view.” Two men, clearly twins, are standing in the living room of Voda’s display home

Over 2.7 acres of the property will be developed as a city park, and there will be several inner courtyards with water features and green spaces. — Gwen Tang

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 17

and simply staring out the window at the photographic ‘view’ of Science World and False Creek. I have to agree, but my attention immediately goes to the kitchen — a totally contemporary beauty with inviting eating bar, massive amounts of storage space, concealed fridge and dishwasher, and a state-of-the-art induction stove. Plus there’s a pantry wall with integrated microwave at the perfect height for easy access. I can imagine romantic dinners and family celebrations in this space. Peeking into the master suite, I discover an open, sunny space with plenty of room for an armchair in addition to chest of drawers or armoire. There’s not one, but two closets, meaning I don’t have to share my hanging space with anyone — although he might still have to share half his closet with me. The ensuite is amazing — floating vanity with 18 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

concealed storage above, frameless glass shower, and a dramatically angular display shelf for lotions and other treasures. As Gwen and I leave the suite, I spot “the boys” sitting on the balcony each with a brochure in hand. “And did you see this? The roller blinds are included and there’s air conditioning.” Now that’s cool… literally and figuratively. Experience for yourself Voda at The Creek is now open for previews — but only if you’ve registered. Sales centre is located at 1551 Quebec Street in Vancouver. Floorplans range from one-bedroom to two-bedroom plus den. A limited collection of townhomes is also available.

For more information visit thecreekbyconcert.com or call 604.681.8282.

VANCOUVER

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 19

NEIGHBOURHOOD SPOTLIGHT

KERRISDALE Village life in the heart of the city By Stephanie MacDonald

KERRISDALE MAY BE PART OF VANCOUVER but it feels like a charming village. Kerrisdale features a shopping district running generally along West 41st Avenue between Larch and Maple Streets and West Boulevard between 37th and 47th Avenues. Although the city officially defines Kerrisdale as being south of 41st, the majority of the area’s residents consider Kerrisdale’s boundaries to be West 33rd Ave to the north, the Railway right of way to the east, West 57th Street to the south, and Blenheim Street to the west. Kerrisdale has a well-heeled ambiance, but a great selection of independent shops and a selection of places to buy cool clothes and meet with friends for afternoon coffee. The village has an eclectic mix of small businesses, independent retail and casual restaurants. The pace of life here is relaxed and congenial, and the streets are lined with luxury sedans and SUVs as opposed to motorcycles or minivans. Expect to see a lot of cashmere, plaid and tweed on these people. Many residents are older in terms of age and definitely skew into affluent, conservative territory. Kerrisdale’s population is about equal parts Asian Canadians and Caucasian Canadians with the Asian population making up more of the younger families and the grannies being mostly Caucasians. While there are a good number of families populating the two high schools and various elementary 20 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

I love Kerrisdale because it’s quiet and pretty, and I can walk everywhere from restaurants, to the library and the community centre. — Zoe, retired librarian

I like living here because it’s like living in a small town, even though we’re in the heart of Vancouver. We know all our neighbours. — Ashley, barista at Caffe Artigiano

Quick facts: Average price on a 4 $ scale: $$$$= luxury Types of properties: Retail space, detached homes, apartments. condos, townhouses Distance from City Hall: about 8 kilometres.

The ‘It’ List: Hill’s – This excellent clothing store has a great selection of both high-end and more budget options as well as clothes for both the young and hip and older, more classic shopper. www.hillsofkerrisdale.com The Secret Garden – This hidden gem is a fantastic place to take your mum out for high tea on her birthday. www.secretgardentea.com Thomas Hobbes Florist – Thomas Hobbes is a Vancouver gardening icon and his store is full of treasures for the green-thumbed. www.thomashobbesflorist.com Avenue Grill – The community stand-by with a sign from the “40s and an ever evolving menu. www.avenuegrillbc.com Benton Brothers Cheese shop – One of the best cheese shops in the city, and they don’t mind giving out samples. www.bentonscheese.com Isola Bella Kids Clothes – Extremely pricey (home of the $100 onsie!), but these classically chic kids clothes are made to last generations. www.isolabellakids.com

schools, there are a high proportion of retirees compared to the rest of the city. There are many parks in the Kerrisdale area, the closest being Kerrisdale Centennial Park, site of the Kerrisdale Community and Seniors Centre at 42nd Avenue and West Boulevard. Elm Park at West 41st and Larch Street (and home to Kerrisdale Little League); and Maple Grove Park at Marine Drive, Yew Street and West 51st Avenue. Recreational facilities in the neighbourhood include the Kerrisdale Skating Arena, Kerrisdale Community Centre and indoor pool and the Kerrisdale Lawn Bowling Club

I like the quick commute to downtown and the fact that my kids are near UBC so they can live at home while they get their degrees. — Simon, engineer located at Elm Park. Other community facilities include the Kerrisdale Branch of the Vancouver Public Library at West 42nd Avenue and West Boulevard and the West-Main Health Unit at West 43rd Avenue and West Boulevard. The two public high schools are Magee Secondary and Point Grey Secondary school, and for private schools there is Crofton House (girls) and St. George’s (boys).

Very convienient to the airport and well served by public transit, Kerrisdale is about a 15 minute drive to downtown. It is extremely walkable and is divided by the unused CPR train tracks which provide a walking path through town. Busses run up Arbutus Street (which turns into East Boulevard) from downtown at close intervals and across the city from Burnaby and East Vancouver and through to UBC along 41st and 49th Avenues. JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 21

VANCOUVER

MOVE IN SPRING 2016

1 BEDROOMS STARTING AT

$368,800 2 BEDROOMS STARTING AT

$538,800 Presentation Centre PROXIMITY - An exclusive collection of 1 and 2 bedroom Sat - Thurs, 12pm - 5pm homes in False Creek featuring sustainable and innovative 1751 Quebec Street design. Close to everything and beyond your expectations, 604.828.1029 this is your opportunity to live in Proximity, where life REGISTER: liveinproximity.com and location intersect. THIS IS NOT AN OFFERING FOR SALE. ANY SUCH OFFERING MAY ONLY BE MADE WITH A DISCLOSURE STATEMENT. THE DEVELOPER RESERVES THE RIGHT TO MAKE CHANGES TO THE INFORMATION CONTAINED HEREIN. E&OE.

July 24 - Aug 7, 2015 Volume 23 Issue 15

Your best source of real estate information to

July 24 - Aug 7, 2015 Volume 05 Issue 15

FLATS, CITYHOMES AND PENTHOUSES WITH MAGNIFICENT QUEEN ELIZABETH PARK AS YOUR VERY OWN BACKYARD.

boffoproperties.com/eastpark

EXPERIENCE QUINTESSENTIAL VANCOUVER Discover Life at 1st & Quebec REGISTER TODAY

thecreekbyconcert.com INSIDE THIS ISSUE

ABOUT “NO-FRILLS” MORTGAGES

SPOTLIGHT ON KENSINGTONCEDAR COTTAGE

WHAT’S NEW AND HOT IN THE MARKET

INSIDE THIS ISSUE

THINKING ABOUT AN INVESTMENT CONDO?

NEIGHBOURHOOD SPOTLIGHT ON KERRISDALE

FREE METRO VANCOUVER EDITION

TRANSIT VOTE: WHAT HAPPENS NOW?

JUNE - JULY 2015 VOLUME 14 ISSUE 2

www.homedecorandrenovations.com

buy, sell or renovate

Pick us up at over 750 convenient locations including:

Safeway, IGA, Skytrain Stations, Community Centres and More. My House

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22 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

VIEW THE 2015 GVHBA PARADE OF RENOVATED HOMES

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no down payment? no problem. Ask about our insanely popular flexible deposit program! 231 PENDER

porte.ca/framework 604.620.6223

ONLY 10 HOMES REMAIN! presentation centre 626 main street

studios from $276,900 1+ fl ex from $409,900 2 Beds from $469,900 open daily (closed friday) from noon â€“ 5pm

*Parking included in most homes, see sales representative for details. Sales by disclosure statement only, E&O.E. Framework homes are developed by Porte Development and Marketed and sold by Porte and RE/MAX Ken Leong.

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 23

IN THE NEWS

Top 5 foodie neighbourhoods in Vancouver By Stephanie MacDonald

IN THIS HIGHLY SUBJECTIVE LIST, we’re going to focus on the ‘hoods we feel have the most variety of types of food in highly-rated restaurants, completely influenced by our own personal tastes. Vancouver has a wealth of different independent eateries from modest holes in the wall (our favourite) to high-end feasting for the wealthy and here are the ‘hoods that will keep your curiosity and your appetite piqued for the longest. Kitsilano Because of its large population of young, upwardly-mobile types, Kits boasts everything from one of our favourite casual sushi joints, Octopus’ Garden and the old-school vegetarian temple The Naam, to the original west coast fining dining establishment, Bishops, to French/Vietnamese bistros and elegant Italian dining. Our new favourite? Annalena on West 1st is fantastic for sharesies and cocktails. Chinatown Of course for any kind of Asian food this is a mecca. Hon’s Wun-Tun House, Phnom Penh, The Ramen Butcher and the wonderful Bao Bei Chinese Bistro are all absolute must-visits for all Vancouverites and tourists alike. But the city’s best fried chicken is also here at Mamie Taylor’s, the best casual seafood at Oyster Express, sausages at Bestie, cocktails at The Union or The Keefer… the Chinatown list could clearly be a story unto itself… Fraser ’Hood For sheer concentration of excellent new dining options, Fraser Street takes the cake. The locus is at Fraser and Kingsway which is home to the inimitable Faux Bourgeois French bistro, excellent Mexican choices Los Cuervos and Sal Y Limon, a new rustic Italian place (name TBD), The Black Lodge Twin Peaks-themed vegan pub; Ba Le for banh mi, The Lion’s Den Caribbean/Japanese fusion and Matchstick Café and Bakery for fresh-roasted coffee. Up the street there’s even more! 24 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

The West End With seemingly one restaurant per person in this urban enclave, there’s lots of options for every taste. Izakayas like Kinyo and Hapa, perogies, The Banana Leaf Malasian, Sala Thai, pizza, sushi, tapas, Mexican, it’s all here and most of it is extremely high quality. This summer enjoy the nicest patios in the city at The Teahouse in Stanley Park or Adesso on Haro Street. Commercial Drive While The Drive was formerly known primarily for its Italian cafes and sports bars (often one and the same), this eclectic neighbourhood is now home to great Ethiopian Food, pizza houses, Cuban restaurants and tons of funky bars and cafes. Our favourites are Jam Jar (Lebanese), Merchant’s Oyster Bar, Absinthe Bistro and The Charlatan.

SE MAR IN

E DRIV E

IVE

BOUNDARY ROAD

E DR

KINROSS ST

ARIN

KERR STREET

VANCOUVER

SE M

BURNABY

MARINE WAY

RIVER DISTRICT SALES CENTRE

AS E

RW AY

SURREY | LANGLEY 116TH AVE

112ND AVE

108TH AVE

W ay

VE OS

104TH AVE

Fr a

se r

104TH AVE A8

A2 88TH AVE

88TH AVE BEAR CREEK PARK

216TH ST

208TH ST

200TH ST

192ND ST

184TH ST

168TH ST

176TH ST

10 RD

LO VE

160TH ST

152ND ST

72ND AVE

A7 64TH AVE

WATERSHED PARK

AV E

80TH AVE

99a 64TH AVE

1a 144TH ST

128TH ST

120TH ST

112TH ST

72ND AVE

King George Blvd

80TH AVE

60TH AVE

61A

58TH AVE

56TH AVE

LANGLEY BYPASS

56TH AVE

B5 Fra s

er H

SURREY A1. YALE BLOC

19557 64 Avenue www.yalebloc.com

A2. MANAROLA

8695 160th Street 604.800.9255

A3. MAXX AT VERVE 13913 Fraser Hwy. 604.588.3783

LANGLEY

SERPENTINE FEN NATURE RESERVE

A4. LINGO

5665 177B Street 604.727.5478 99

A5. UNIVERSITY DISTRICT

104th & University Dr 604.588.5795

A6. G3 RESIDENCES

26 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

104th Ave. & 154th St. 604.453.6688

B4 D

48TH AVE

A7. THE RIDGE AT BOSE FARM

B1. KENSINGTON

B3. ATHENRY GATE 40TH AVE

A8. EVOLVE

B2. ELEMENTS

B4. MURRAYVILLE HOUSE

16390 64th Ave. 604.888.5514

13328 104th Ave. 604.497.0102

A9. CHROMA

15628 - 104th Ave 604-581-5399

20678 Willoughby Town Centre Drive 604.427.3311 20211 66th Ave. 604.533.7718

8312 Street 604.882.8857

5020-221A Street 778-808-6563

B5. CORNERSTONE 5655 210 Street 604-536-6000

240TH ST

Fr as

GOLDEN EARS BRIDGE

96TH AVE

GL OV ER

TYNEHEAD REGIONAL PARK

232RD ST

GREEN TIMBERS URBAN FOREST PARK

96TH AVE

216TH ST

SURREY/LANGLEY

240TH ST

Rent is a four letter word.

Spend less on the condominium you’ve always wanted and enjoy more time being you. Who says you can’t have it all?

LY S N E O OMFT!! H 8 LE

Move in Now

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JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 27

CONDO PROFILE æ AT A GLANCE

Location Surrey Community Guildford Home Type Condominiums Builder StreetSide Developments Sales Centre 15628 – 104th Avenue Contact liveatchroma.ca 604.581.5399

The Guildford neighbourhood has changed and evolved so much over the past few years.

CHROMA Live life in full colour

— Vanessa Isler By Susan M Boyce

et ready, get set, now move — as in move directly into your new home at Chroma. That’s right, this boutique collection of 29 apartment residences is getting ready for occupancy meaning you’ll have plenty of time to enjoy the best of the summer weather in your new digs. Full spectrum living When it comes to smart design, Chroma’s got you covered. “We purposely kept the interior design simple and bright, so homeowners can incorporate punches of their favourite colours through accessorizing,” says Vanessa Isler, StreetSide’s sales and marketing manager, pointing out the kitchen’s large-format tile backsplash and nine-foot ceilings

28 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Personally, I’m intrigued by the clever use of space in this already generously proportioned, two-bedroom home. A large sectional effortlessly gives the living room a welcoming and cozy ambiance — perfect for evenings at home or when guests come calling. There’s a large eating bar plus a connected, yet distinct area for formal dining — a feature I don’t see often in condominium homes. Today the table’s set for four, but I’m betting when it came time for family dinners I could fit eight. And in the master bedroom I discover another favourite — a walk-through closet to the ensuite. And while every home has private outdoor decks or patios, Vanessa insists I take a peek at the top floor balconies. One look and I see why. These outdoor

beauties are huge — I’d estimate at least 300 square feet — and partially covered so I can barbeque in comfort all year round. Heaven. Close to everything “The Guildford neighbourhood has changed and evolved so much over the past few years,” Vanessa says. “It’s got schools, parks, shops, restaurants and it’s a quieter, more residential alternative to the City Centre neighbourhood. Plus Chroma is only a few blocks from freeway access to the east and the revitalized Guildford Town Centre, new Aquatics Centre, and library to the west. Plus there’s a direct transit link to the SkyTrain to Vancouver right across the street.” Sounds like the best of all worlds.

SURREY/LANGLEY

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 29

HOT NEWS

Hot oﬀ the web THE SKINNY ON WHAT’S HAPPENING IN REAL ESTATE IN THE LOWER MAINLAND By Diane Duﬂot

“No” vote for plebiscite The votes have been counted in Metro Vancouver’s transit plebiscite, and the majority of voters do not support a sales tax increase to fund transit. Sixty-two percent of the votes cast were for the “No” side, and 38 per cent for the “Yes” side. The “No” vote for plebiscite means that it will be important, in the months and years to come, to make improvements to the city’s transportation infrastructure, since Metro Vancouver continues to grow at a rapid rate. Mayors propose separate district utility for TransLink Some of Metro Vancouver’s mayors are hoping that a separate utility district for TransLink can be created that would function in a manner similar to the area’s sewer and water services. The motion will be debated by the Metro board next month, and if it passes, regional directors would have more control over TransLink’s finances and general operations. They would also be able to collect regional service taxes to pay for it. It remains to be seen what form such a utility might take, however, and the provincial government, whose approval would be necessary before any serious changes were made to TransLink, has shown reluctance to give the mayors more control. 30 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Housing aﬀordability: Many Vancouverites “miserable” A recent opinion poll asked Vancouverites if they were happy, comfortable, uncomfortable or miserable their housing and transportation situation, and the results showed a wide gap between the have and the have nots, or the homeowners and those trying to climb onto Vancouver’s real-estate ladder. Two things that an overwhelming majority of respondents agreed on? Nearly four in five felt that the government should collect “data on the profile and location of Metro Vancouver homebuyers,” and 70 per cent felt “government should be more involved in the housing market.” Vancouver targets renewable energy Vancouver has a goal to achieve 100-percent renewable energy, an essential step towards climate protection. Despite the fact that Canada’s electricity is relatively lowcarbon, the average Canadian still used 23 litres of fossil fuel a day in 2012, producing an average of twice the greenhouse gas emissions of the typical European. Making such a paradigm shift is in keeping with the times: California’s governor recently announced an increase in that city’s gasreduction targets, a decision that has been both praised and criticized, due to the lack of a concrete plan to meet that goal. What are needed now, in California and Vancouver alike, are solid ideas on how emissions can be reduced while increasing

local energy security, diversifying local economy and creating jobs. Suburbs attract families with multi-family units For many looking for more space and cheaper housing, the decision to move from the City of Vancouver to one of its suburbs is an easy one. Developing neighbourhoods in the suburbs offer schools, parks, shops and other amenities, and the suburbs draw families due to their affordability and mix of housing types. For more details on these stories, and for more real-estate news, visit nexthome.yp.ca/news

Former Vancouver Editor of New Home Guide, New Condo Guide and Home Decor and Renovations, Diane Duﬂot is currently enjoying the life of a freelance writer and editor. She can be reached at diane.duﬂot@ypnexthome.ca

SURREY/LANGLEY

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Pricing and promotion subject to change without notice. Sales by disclosure statement only, E&OE.

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 31

IN THE NEWS

June a historic sales month THE HIGHEST SELLING JUNE, AND THE SECOND HIGHEST OVERALL MONTHLY TOTAL, ON RECORD FOR THE REBGV

he REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015. Last month’s sales were 29.1 per cent above the 10-year sales average for the month. It’s the fourth straight month with over 4,000 sales, which is a first in the REBGV’s history. The previous highest number of residential home sales was 4,434, recorded in May 2005. “Demand in our detached home market continues to drive activity across Metro Vancouver,” Darcy McLeod, REBGV president said. “There were more detached home sales in the region last month than we’ve seen during the month of June in more than 10 years.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro

“We’re seeing a steady stream of new listings entering the market, but the overall number of homes for sale is not keeping up with buyer demand” 32 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Vancouver is currently $694,000. This represents a 10.3 per cent increase compared to June 2014. “Housing market activity comes in cycles; we’re in an up cycle right now that looks similar to the mid-2000s,” McLeod said. “It would be easy to point to one factor that’s causing this cycle, but the truth is that it’s a number of different factors. “Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that’s outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highly desirable region,” McLeod said. New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,803 in June. This represents an 8.7 per cent increase compared to the 5,339 new listings reported in June 2014. “We’re seeing a steady stream of new listings entering the market, but the overall number of homes for sale is not keeping up with buyer demand,” McLeod said. The total number of properties currently listed for sale on the region’s MLS® is 12,181, a 23.9 per cent decline compared to June 2014 and a 1.3 per cent decline compared to May 2015. This is the lowest active listing total for June since 2006. The sales-to-active-listings ratio in June was 35.9 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2006. A seller’s market typically occurs when this ratio exceeds 20 per cent for a sustained period of time.

“The competition in today’s market means that buyers have less time to make decisions,” McLeod said. “Given this, it’s important to work with your REALTOR® to gain insight into the local market, to get quick access to new MLS® listings, to develop a buying strategy that meets your needs and risk appetite, and to receive other services and protections that come from having professional representation.” Sales of detached properties in June 2015 reached 1,920, an increase of 31.3 per cent from the 1,462 detached sales recorded in June 2014, and a 74.2 per cent increase from the 1,102 units sold in June 2013. The benchmark price for a detached property in Metro Vancouver increased 14.8 per cent from June 2014 to $1,123,900. Sales of apartment properties reached 1,774 in June 2015, an increase of 35.6 per cent compared to the 1,308 sales in June 2014, and an increase of 66.1 per cent compared to the 1,068 sales in June 2013. The benchmark price of an apartment property increased 5.3 per cent from June 2014 to $400,200. Attached property sales in June 2015 totalled 681, an increase of 7.1 per cent compared to the 636 sales in June 2014, and a 44.3 per cent increase from the 472 attached properties sold in June 2013. The benchmark price of an attached unit increased 7.1 per cent between June 2014 and 2015 to $506,900.

52 Ave

49a Ave

48a Ave

See more at: http://www.rebgv.org/ news-statistics/metro-vancouverhome-sales-set-record-pacejune#sthash.bqc14ohH.dpuf

SURREY/LANGLEY

E.COM S U O H E L IL V Y A R R U M t a fo in OV IE ST AR TS AT DU SK . M. M EV EN T ST AR TS AT 4POR L PA RK , M UR RA YV IL LE DE NN Y RO SS M EM IA

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K HOME R A P E H T IN

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SELLING FAST SALES CENTRE OPEN DAILY

52 Ave

12pm-5pm (except Friday)

52 Ave

Murrayville House is an exclusive boutique collection of ninety-two, 1 & 2 bedroom homes, many with dens situated in the best location of Langley; Upper Murrayville.

Langley Memorial Hospital 50 Ave

50 Ave

SALES CENTRE

220 -230 22196 50TH AVE, LANGLEY

49a Ave

49 Ave

48 Ave

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48a Ave

• 5% down payment • Interest rates at historical lows • Minutes from Langley Centre

48 Ave

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MurrayvilleHouse

NEW HOME WARRANTY

Renderings, illustrations, floor plans and square footages are approximate and may differ from final product. The Developer reserves the right in its discretion to make changes to the floor plans, project design, appliances, specification and features. This is not an offering for sale, such offering can only be made with a Developer Disclosure Statement. E.&O.E. Movie Nights will proceed, weather permitting, as scheduled.

IN THE PARK

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 33 Project

Date

Revised

Docket

Murrayville House

26.06.2015

T - 1437

Item

Trim Size

File prepared at

Contact

Colours

Cyan Magenta Yellow

SURREY/LANGLEY

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34 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

SURREY/LANGLEY

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 35

INSIDE MORTGAGES

Big news BANK OF CANADA REDUCES THE OVERNIGHT LENDING RATE, AGAIN! By Kris Grasty

or the second time this year, the Bank of Canada has seen fit to reduce the overnight lending rate by a quarter point or -0.25 per cent. We are now looking at a 0.50 per cent rate that the lenders base their prime lending rate on. You may recall that this past January, the BoC reduced by a quarter point however the lenders did not match or pass the discount directly on to customers. Prime was reduced by only 0.15 per cent to 2.85 per cent. Last week BoC reduced by the same -0.25 per cent and so far, TD Bank has announced a 0.10 per cent reduction in their Prime Rate to 2.75 per cent, the only lender to do so at the time of this writing. The true effect on prime will really take place over the next few days. Last January, TD initially stated that they would not reduce Prime at all. Competing lenders reduced forcing TD to follow in order to stay in the mix. Other lenders may opt to simply follow TD’s 0.10 per cent reduction, though it will only take one big player to slash prime further to shake things up a bit. This decrease will only be affecting clients in variable rate mortgages and those with consumer debts with rates based on discounts or surpluses to prime such as lines of credit. Fixed

36 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

mortgage rates are dictated by five year bond yields and the spreads required for those bonds to maintain returns. The Canadian dollar has already seen an impact this morning and investments may see a slight toll going forward as well. So far in 2015, the cost of lending money has decreased by 0.50 per cent yet only 0.25 per cent has been passed on to us. Banks are in the business of making profits, so it stands to reason that they are “banking” the extra 25 points for now, citing slimmer margins as the primary reason. What will be interesting to see is when our economy does see a marked improvement and the BoC sees fit to raise the rates again, will the lenders raise prime directly with that increase? It would be fantastic if they used the 0.25 per cent currently banked as a buffer to those future increases. I would expect to see them move up 0.25 per cent if the BoC raises the rate by 0.25 per cent. Our economy improvement target dates seem to be moving constantly. Now many economists are suggesting that we may not see the desired improvement until late 2017 which will likely result in continued low rates for some time. Until then, our new normal, low rate environment shall persist.

The Canadian dollar has already seen an impact this morning and investments may see a slight toll going forward as well.

Kris Grasty is a mortgage broker with Dominion Lending Centre’s Canadian Mortgage Experts and and a Finalist in the 2014 Canadian Mortgage Awards. 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.

SURREY/LANGLEY

GROUP

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 37

176TH ST

184TH ST

176TH ST

184TH ST

168TH ST

152ND ST

ing George Hwy

SOUTH SURREY | WHITE ROCK

40TH AVE SERPENTINE FEN NATURE RESERVE

E CR

CRESCENT BEACH / BLACKIE SPIT

99a

32ND AVE

SUNNYSIDE ACRES URBAN FOREST PARK

CRESCENT PARK

24TH AVE

164TH ST

26TH AVE

168TH ST

152ND ST

16TH AVE

160TH ST

148TH ST

140TH ST

16TH AVE

128TH ST

16TH AVE

20TH AVE

SOUTH SURREY ATHLETIC PARK

MA R

INE

15 10TH AVE 8TH AVE

8TH AVE

SOUTH SURREY / WHITE ROCK 1. BEVERLEY

1458 Vidol St beverleybycressey.com 604.560.0075

2. ELGIN HOUSE 3323 - 151st St 604.541.8092

3. GEMINI

5. HEIGHTS CONDOS

4. ADAGIO

6. ROYCE

15336 - 17A Ave 604.536.1663

20th Ave. & 154th St. 604.531.6659

CONDO HOMES at

BY LAKEWOOD

38 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

2855 156th Street, Surrey 778.545.8737

7. EDGEWATER

36 Ave & 152nd St. 604.818.5603

14855 Thrift Ave 604.538.8028

Early Bird Special! Up to $15,000 off Condo Homes. 2855 156 Street, Surrey | Open Saturday & Sunday 12-5 pm (or any time by appointment) | www.theheightsliving.ca | 778-545-8737

SOUTH SURREY/WHITE ROCK

H AVE

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 39

CONDO WATCH

The Residences at Lynn Valley North Vancouver

CONDO MARKET WATCH Condominium homes to keep your eye on By Susan M Boyce

ON THE STREET: 1199 Lynn Valley Road ON THE WEB: lynnvalleyresidences.com INFO: 604.377.5520 HIGHLIGHTS: Previews are anticipated to begin at the end of September with sales commencing in October. Poised to become the first concrete, multi-family in Lynn Valley, the initial phase will bring a diverse range of apartment residences including spacious three-bedroom and three with den floor plans. This environmentally-savvy, master planned community will ultimately feature six buildings and introduce over 350 homes to the neighbourhood. There will also be new, ground level commercial/retail including a Save-On, boutiques, and services. Amazing views to the Burnaby skyline and beyond. Priority register so you’re on the list for preview access.

The Mews Mission ON THE STREET: 33755 – 7th Avenue INFO: 604.787.0553 HIGHLIGHTS: Grand re-open of final phase in this lowrise development located adjacent to Heritage Park and overlooking the Fraser River, Mount Baker, and the Fraser Valley. Spacious one- and twobedroom homes featuring air conditioning, gourmet kitchens, and expansive balconies. Prices start at $229,900 for 975-square-foot one-bedrooms or $259,900 for 1070-square-foot two-bedrooms (net GST included). Open 1-3 p.m. Sundays or by appointment anytime.

The Gardens Richmond ON THE STREET: No. 5 Road and Westminster Hwy PRESENTATION CENTRE: 232 – 10880 No. 5 Road ON THE WEB: liveatthegardens.ca INFO: 604.271.3331 HIGHLIGHTS: Only a few homes remain in the initial release of this master planned community by Townline Homes. But if the thought of living in a lush, garden-like setting surrounded by 12 acres of dedicated parkland with trails, community garden, and even a contemplative secret garden excites you, be sure to register online because a new phase is on schedule to launch early in 2016. In the meantime, the presentation centre is open by appointment only — be sure to ask about special incentives on remaining homes.

Green Oak on 7th Vancouver ON THE STREET: West 7th Avenue and Yew ON THE WEB: greenoakdynasty.com/west7 HIGHLIGHTS: Priority registration now underway for this upscale, boutique residence in the heart of Kitsilano. Pre-sales anticipated to begin in July. Contemporary architecture with brick, stone, and wood. A rare opportunity in this sought-after neighbourhood.

Tell Us Your News

Harbour Walk Richmond ON THE STREET: 13040 Number 2 Road PRESENTATION CENTRE: 12235 No 1 Road ON THE WEB: harbourwalkcollection.com INFO: 604.274.7326 HIGHLIGHTS: Anticipated to be55 condominium homes, Harbour Walk will be located in Richmond’s charming Steveston neighbourhood. This fourstorey property will offer modern residences including penthouses, condominiums and city homes. Great location surrounded by a rich variety of recreational, community amenities, and public spaces. Plus you’re just minutes from some of the best fish and chip in the Lower Mainland. Priority register today so you’re kept up to date as new information gets released.

40 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Got a new development, opening, or other news you’d like us to feature in Condo Market Watch? Drop us a note at condomarketwatch@@ypnexthome.ca, and we’ll do our best to get it in the next edition.

SOUTH SURREY/WHITE ROCK

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 41

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

NEW WESTMINSTER

BARNET MARINE PARK

INL ET

GA GL

SQUINT LAKE PARK

A11

ROYAL OAK AVE

WILLINGDON AVE

NELSON AVE

PATTERSON AVE

ROYAL OAK AVE

4567 Lougheed Hwy. 604.563.8386

A5. BRENTWOOD

R WA

E ST

E AV L YA B4 RO B3 B1

B2 DUNCAN ST

E WAY

A6. NOVELLA

YD BO

ST VE

BOUNDARY RD

A 170 - 3355 North Rd EN EW 604.563.5777

A7. STATION SQUARE

AY TW

604.456.0688

5021 Kingsway

A4. MODELLO

AY NW

Griffiths Dr & 14th Ave 604.527.7955

MAR IN

BURNABY

MARIN E WA Y

QUEEN’S PARK

SOUTHRIDGE DR

E AV

H 0T

E AV

MAR IN E

E AV

BRAID ST

E AV

8 D

IMPERIAL ST

A1 A2

E AV

WA Y

H 6T

AY W

A AD

KI N

D ST

4670 Assemble Way stationsquare.ca

A8. ALTITUDE

89955 University High Street 604.456.8883

A10. CROWN

Presentation Centre #104 - 552 Clarke Rd 604.939.8868

B3. TRAPP & HOLBROOK 702 Columbia St 604.525.0223

B4. RIVERSKY2

659 Columbia St 604.522.2583

B5. THE SAPPERTON AT BREWERY DISTRICT 285 Nelson's Court 604.525.3941

BURNABY LAKE REGIONAL PARK

OAKL AN

IMPERIAL ST

4189 Halifax Street 604.291.9130

LOUGHEED MALL

DEER LAKE

DEER LAKE PARK

METROTOWN

A3. AVIARA

GL GA

AD AW AY

A2. REDBRICK

260 Salter St 778-398-1344

AUSTIN AVE

GILLEY AVE

BOUNDARY RD

SPROTT ST

SE MARINE DR

AY IW

Lougheed Hwy

CA N

CENTRAL PARK

ITY

D AR

N CA

49TH AVE

WA Y

BROADWAY

A10

IVE

EYS TON

BURNABY MOUNTAIN GOLF COURSE

BCIT

B2. PORTAGE PORT ROYAL

E DR

NORTH RD CL

BRENTWOOD MALL

125 Columbia St 604.523.0081

SFU

CLIFF AVE

B1. NORTHBANK

Barnet Hwy UN IVE RSITY DR

SPERLING AVE

HOLDOM AVE

WILLINGDON AVE

HASTINGS ST

BURNABY MOUNTAIN PARK

CONFEDERATION PARK

A10. ALDYNNE ON THE PARK

5808 Patterson Ave 604.451.9517

A11. MADISON & DAWSON 604.428.0210

Y NL

T H E L O W E R M A I N L A N D ’ S B E S T V A L U E on T R A N S I T E V A E T T E N U

NEW WESTMINSTER

AT S A P P E R TO N S KY T R A I N S TAT I O N

2 BEDS FROM $360,900

SALES CENTRE 285 NELSON’S COURT

E COLU MB IA ST

1 BEDS FROM $259,900

N O O N – 6 P M (C LO S E D F R I DAYS ) I N F O @ T H E B R E W E R Y D I S T R I C T.C A T H E B R E W E R Y D I S T R I C T.C A 604.525.3941

This is not an offering for sale. One can only be made by way of a disclosure statement. Prices are subject to changed without notice. E.&O.E.

BURNABY/NEW WESTMINSTER

44 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

KIN

GSW AY

PRESENTATION CENTRE

ROYAL OAK AVE

ESF O

MARLBOROUGH AVE

BER

NELSON AVE

WIL

LIN

ON AVE

BURNABY/NEW WESTMINSTER

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 45

10 MINUTES WITH…

Multi-purpose furnishings increase functionality at Townline’s 999 Seymour tower in downtown Vancouver.

Chris Colbeck

EXPANDING YOUR REAL ESTATE INVESTMENT PORTFOLIO Q&A

10 Minutes with Chris Colbeck

uy land: they ain’t making any more of it. Usually attributed to Mark Twain, other times to Will Rogers, the sentiment of this wellknown advice has been the foundation of many fortunes. Although the 21st Century move to urban densification has changed the definition of “land,” most successful investors still consider real estate a cornerstone of financial success — and a condo’s lower price point, hassle-free maintenance, and high demand from tenants could make this the perfect first step into the world of being a landlord. This issue, New Condo Guide chats with Chris Colbeck, Townline’s vice president of sales and marketing, about some of the ins and outs of adding a rental condominium to your investment portfolio.

46 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

By Susan M Boyce

Q: What’s the starting point for someone considering condo purchase as an investment? A: First, identify your investment objective. Are you looking for immediate cash flow or long-term capital appreciation? If you’re planning to hold the property long-term, it may not matter whether there’s a positive cash flow — as long as the rent covers the mortgage and strata fees with a bit of a cushion — because your tenants will be paying off the mortgage so your equity is building. On the other hand, if you want positive cash flow from day one, you’ll probably need a higher down payment so the property generates revenue immediately. There’s no right or wrong… it’s just a matter of personal investment style and goals.

Next, set a budget. Know how much you have for a down payment — don’t forget it’s unlikely you’ll get a high ratio mortgage on an investment condo. Factor in the strata fees, property taxes, and insurance costs and figure out how much you need to generate every month in revenue. If you decide you’re going to outsource the day-to-day management, you’ll have to add those costs too. Other considerations are knowing who your tenants are most likely to be — students, professionals, downsizers — whether you will rent month to month or require a year lease, and if you want to rent furnished or unfurnished. Research sites like Craig’s List or call a property manager to figure out how much you should charge. If rents are going for more than your anticipated monthly outlay, you’re on your way.

A low maintenance, cost effective basketball court is one of The Gardens’ popular fitness bonuses.

Outdoor spaces like Harmony’s Zen garden are value added amenities that increase tenant appeal.

An open, inviting lounge with chef’s kitchen gives flexible entertaining options for tenants and owners at Harmony.

Q: There’s an old adage that size counts. How does size figure into the rental condo equation? A: Generally speaking, the closer you are to an urban core, the higher the demand for studio or one-bedroom rentals — in large part because rents on smaller spaces are more affordable. So not only is your potential tenant pool is larger, but you’ll generally only be dealing with a single individual or couple and one rent cheque — as opposed to a twobedroom where you may end up with two individuals renting the one space. On the positive side, larger suites — with two or three bedrooms — are more attractive to families who most often want the stability of staying in the same place for a longer term. They also want proximity to good schools which might not be as important to young professionals. Q: What features and finishings make a good rental condo? A: Most tenants expect certain level of contemporary finishings, but some features will give many private rentals an edge over older, purpose built structures — in-suite laundry, a built-in workstation/ desk, and private outdoor spaces like balconies are examples. Low maintenance, low cost amenities like a fitness area, secure bike storage, and onsite car share also tend to resonate with tenants because it’s easy to see the added value — I can get rid of my gym membership because I can work out in the building. A full-time concierge adds to the cost of strata fees and, therefore, the rent, without creating much value for the average person. Keep in mind that most tenants in urban areas are looking for a lifestyle that’s convenient and flexible. The more you can do to provide it, the more attractive your suite. Q: How about parking? A: Rental units without parking are becoming increasingly popular in inner city locations — areas on transit or walking distance to amenities. Let’s face it, if you’ve got a bike, you’re

Low maintenance, low cost amenities like a fitness area, secure bike storage, and onsite car share also tend to resonate with tenants because it’s easy to see the added value. close to the bus or SkyTrain, and you have some kind of car co-op onsite or nearby, many tenants are happy to save the $100 to $150 per month that they’d have to pay for parking they don’t need. However, once you’re out in the suburbs, at least one parking is usually necessary because transit isn’t as readily available. Q: Any final advice? A: Always do your due diligence… always. Vet your tenants. Call past employers or landlords. If a prospective tenant can’t provide contact info be very, very skeptical because once they’ve moved in, it can be difficult to get rid of a bad tenant. Run a credit check and insist on a certified cheque for the first month and damage deposit. Educate yourself. Familiarize yourself with the Tenancy Act and your responsibilities as a landlord. Be sure you understand the strata’s rules and regulations about pets, kids, and rentals. And remember to get insurance to cover any costs like deducible that could arise if your tenant does something like let the bathtub overflow and creates damage to the suite below. Finally, enjoy your investment. To check out Townline’s many condominium and townhouse communities, visit townline.ca. JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 47

CEDAR DR

VICTORIA DR

DOMINION AVE

224TH ST

DEWDNEY TRUNK RD

210TH ST

DEWDNEY TRUNK RD

216TH ST

y M EADOW GARDENS

124TH AVE

232RD ST

DEWDNEY TRUNK RD

228TH ST

224TH ST

227TH ST

123RD AVE 203RD ST

DEWDNEY TRUNK RD

HAMMOND RD

S BONSON RD

207TH ST

AIRPORT

R IVE

R RD

240TH ST

PITT M EADOWS

4 116TH

248TH ST

FORD RD

HARRIS RD

GOLF COURSE

HARRIS RD

AVE

D E R BY R EACH R E G I O N A L PA R K

A KA KAN

WAY

110TH AVE 108TH AVE GOLDEN EARS BRIDGE

104TH AVE

102TH AVE

MAPLE RIDGE 1. SIGNATURE AT FALCON CENTRE 11862 226th Street 604.477.1500

2. REFLECTIONS ON THE RIVER 22327 River Road 604.477.1500

48 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

3. STATION ONE 12070 227th St. 778.878.1347

A4. RIVER'S EDGE 11580 223rd St 604-453-4965

JAC KS O

ghe

Lou

DR MACLU RE

240TH ST

OTTAWA ST

PITT MEADOWS | MAPLE RIDGE

PITT MEADOWS/MAPLE RIDGE

KANAKA CREEK REGIONAL PA R K

272ND ST

SUITES ARE MOVE IN READY

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 49

LOOKING FOR A NEW HOME? Itâ€™s only a tap away.

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PITT MEADOWS/MAPLE RIDGE

W O N

G N I L

Water Views • Folding Accordion Doors Lead to Large Outdoor Living Spaces Over-sized Windows • Spacious Kitchens with Gas Ranges • Exquisite Bathrooms Over-sized Tile Surround Shower • Walking Distance to West Coast Express

MOVEMENT IS LIFE

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 51

R IVE

KNIGHT ST

99 VANCOUVER INTERNATIONAL AIRPORT (YVR)

R DR

RD | TSAW WA SSE N RR R I C H M O N D | D E LTA | L A D NEE

Richmond Hwy

NO 6 RD

NO 5 RD

91 CAMBIE RD

Westminster Hwy

ALDERBRIDGE WAY

RICHMOND NATURE PARK

GRANVILLE AVE

RICHMOND CENTRE

GRANVILLE AVE

R DR

Richmond Hwy

LANSDOWNE PARK MALL

NO 4 RD

WESTMINSTER HWY

RICHMOND NATURE PARK

NO 3 RD

RU SS

CAMBIE RD

R IVE

CAMBIE RD

SHELL RD

GARDEN CITY RD

LANSDOWNE PARK MALL

RICHMOND CENTRE

RICHMOND

BRIDGEPORT RD GRANT MCCONACHIE WAY ALDERBRIDGE WAY

GRANVILLE AVE

NO 6 RD R IV

NO 4 RD

NO 3 RD

WESTMINSTER HWY

W AY

KE BA SS RU A1

NO 5 RD

GARDEN CITY RD

W AY R

CAMBIE RD

VANCOUVER INTERNATIONAL AIRPORT (YVR)

SHELL RD

BRIDGEPORT RD GRANT MCCONACHIE WAY

KNIGHT ST

R IV

Westminster Hwy

GRANVILLE AVE

BLUNDELL RD

RD R 41ST B ST

A AVE

48TH AVE

W AY

53RD ST

41ST B ST

ARTH

#3Rd & Landsdown Rd orchidbybeedie.ca

56TH ST

A4. ORCHID

6511 Buswell St ellerichmond.com

28TH AVE

ENGLISH BLUFF RD

A2. TEMPO

12TH AVE

56TH ST

6TH AVE

52 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

se rR 62ND B ST

B ST 53RD ST

RO 47TH AD

U R DR

A3. ELLE

7720 Alderbridge Ave 604.276.8885

OV E

28TH AVE

A1. RIVER GREEN

5171 Brighouse Way 604.233.2633

U R DR

R IV

17 ARTH

AC H

72 AVE

RICHMOND

VE BOU N DARY BAY R EG IONAL PAR K

CE M ETE RY

R IV

W RD

Y WA

SOUTH DE LTA PAR K

48TH AVE

47TH A AVE

N KSO

113 ST

115 ST

8A AVE

74 AVE

JAC

75A AVE

R62ND RD

RD R VE RI EL RD O

56 ST

75 AVE

55 ST

DEAS ISLAND REGIONAL PARK

G RAU E R PAR K

12 AVE

53A ST

CHALM E R S PAR K

12 AVE

119A ST

YM RR

DE LTA NATU R E R E S E RVE

78B AVE

IC A

MONROE DR

116 ST

LADNER

B EACH G ROVE GOLF C OU R S E

118 ST

53A ST

TSAW WA S S E N

C OAST TSAW WAS S E N I N N

52 ST

82 AVE

80 AVE

NT A

MACK I E PAR K

ENGLISH BLUFF RD

BL VD

SCOTT RD

112 ST

84 AVE

80 AVE

NORDEL WAY

is Hw

c Anna

I LT SH

AVE FINN 18 RD

DEAS ISLAND REGIONAL PARK

FINN RD

112 ST

NO 3 RD

S P LAS H D OW N PAR K

TSAW WAS S E N GOLF CLU B

NO 3 RD

56 ST

90 AVE

NORTH DE LTA PAR K

Fr a

R IV

52 ST

116 ST

MONCTON ST

R IV

MONCTON ST

GARRY POINT PARK

96 AVE

GARRY POINT N O R T HPARK D E LTA

ive r

NO 6 RD

ive r se rR Steveston Hwy

Steveston Hwy Steveston Hwy

Fr a

Steveston Hwy

NO 5 RD

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

4TH AVE

1ST AVE

Canada’s most significant

WAT E R F R O N T C O M M U N I T Y Aspac Developments Ltd., the developer of Coal Harbour, is proud to present their latest exclusive waterfront community - River Green. Experience the new benchmark in luxury waterfront living along 1.1 kilometres of majestic shoreline. Awarded the 2014 Urban Development Institute Award of Excellence for the Best Master Planned Community, River Green is Richmond’s most valued and sought after luxury residences.

1 RIVER GREEN

2 RIVER GREEN

N OW S E L L I N G

O N L I N E P R I O R I T Y R E G I S T R AT I O N

I S

M O V E

I N

R E A D Y

I S

C O M I N G

T H I S

F A L L

604.233.2633 w w w. r i ve r g r e e n . c o m Illustration reflects the artist’s interpretation of the project and may be noticeably different than what is depicted. This advertisement is not an offering for sale. Such an offering can only be made with a disclosure statement. E. & O. E.

RO SS RD

Sky H

R VE GO TR

Sea To

EN D

NORTH SHORE | SQUAMISH | WHISTLER DEPOT RD

DR ORO

UG H

LONSDALE AVE

DR NS

CHEAKAMUS WAY

1a MARINE DR

A4 MARINE DR

BOULEVARD

I LD Y WA W AY

SEABUS

STANLEY PARK y

VE R GO

E NT

LOGGERS LN

QU E E NS WAY

RAVEN DR

A4. HEYWOOD ON THE PARK 1621 Hamilton Ave 604.985.0003 CH E

B UC

SQUAMISH

KLEY AVE

R UD TEA PLA

VAL LEY

DA VE DA VE

54 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

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

R D E MAI N

A6. THE AVE BOUTIQUE RESIDENCES

Presentation Centre 238 Fell Ave 604.980.0016

KEITH RD EA1

A2. DESTINY 2

A3. THE SHORE ROBIN DR

MT SEYMOUR PKY

A5. MILL HOUSE

590 Raven Woods Dr 604.929.1915

FINCH DR

R RY

LYNN CANYON PARK

A1. SEYLYNN VILLAGE 600 Mountain Hwy 604.980.5000

BRENNAN PA R K

R LA

NORTH SHORE

CENTENNIAL WAY

MAGEE ST

L LEVE LOW

N LY

EY LL VA

KEITH RD W

T IN

MAMQUAM RD

Mountain Hwy

TH B

MATHERS AVE

DEMPSAY RD

SD AL EA VE

LIGHTHOUSE PARK

DALE R D

LO N

INE

CH IPPE N

CAPILANO RIVER REGIONAL PARK

PERTH DR

MAR

STE VE

L OW

SOU

R CYP

B ESS

TANTALUS RD

CYPRESS FALLS PARK

15TH ST

NELSON CANYON PARK

LYNN HEADWATERS REGIONAL PARK

21ST ST

CYPRESS

25TH ST

RUN

CYPRESS BOWL RD

EAG LE

NORTH SHORE

1268D Lynn Valley Rd 604.986.0007

Pemberton Ave and 16th St 778.985.4767

A7. WEST QUAY 21 Lonsdale Ave 604.988.8856

rton

Dolla

Hwy

NORTH SHORE/SQUAMISH/WHISTLER

WE ALL HAVE

BAGGAGE

NOW, YOU HAVE A PLACE TO KEEP IT NOW SELLING

One of the real challenges of condo living can be not having enough

storage. At Mill House, we’ve taken care of that. Every home gets a secured personal gear garage. There’s room for your sports gear, seasonal things, and stuff you just don’t want in your home on a daily basis. And that means you can breathe easy – not just in the great outdoors, but in your new home, too.

Nicely appointed 1+ Den – 3 bedroom homes with parking and personal gear garage.

PKY

MOUNTAIN HIGHWAY

Prices correct at press time. E.& O.E.

marcon.ca/millhouse Sales Centre:

N LY

A O R

OPEN: Phone:

1268-D Lynn Valley Road, North Vancouver (Lynn Valley Mall, just north of Scotiabank) Noon - 5pm daily except Fridays 604.986.0007

Marcon Lynn Valley Homes Ltd.

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 55

CONDO SENSE

A “no” result for transit WHAT ARE THE CONSEQUENCES? By Cameron McNeill

iven the recent announcement of the public voting No to a regional ‘Congestion Improvement Tax’ increase of .05%, there has been significant debate over what this means for transit moving forward. The transit plebiscite addressed the need to improve transportation to reduce congestion in Metro Vancouver. The funds would have assisted a $2.1-billion light rail transit network in Surrey, a $1-billion replacement of the Pattullo Bridge, extension of Sky Train Millennium Line, 11 new B-line routes, 400 new buses to increase service by 25%, and an 80% increase in night bus services, among other upgrades to public transit. With projections of 1 million new residents in the next 30 years, traffic and congestion are expected to worsen. I think we can all agree that the plebiscite was not about whether we need improvements to our public transportation and road infrastructure but rather how to pay for those improvements. Now that the public has voted No to the $7.5 billion dollar

Congestion and delays will continue to increase as more people apply pressure to the system. 56 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

regional transportation plan to fund these upgrades, what does that mean for Vancouver and its growing population? Congestion and delays Congestion and delays will continue to increase as more people apply pressure to the system. With the population growing at roughly 40,000 people per year and current funding levels only allowing us to maintain what we have rather than add services, buses and roads will be packed and infrastructure projects will be deprioritized and slow. Cost to the public Regardless of the No vote, the public is still ultimately going to pay for the improvements, it’s just a matter of how. The Mayor’s Council has previously debated many other avenues of raising the capital including various taxes on parking, rental cars, vehicle levies, vehicle sales tax, container fees as well as increasing taxes on existing fuel, carbon and property taxes. They continue to lobby the provincial government for additional funds as well as examining how those funds are allocated currently. Much debate and some hard decisions are to come. At minimum we can expect Translink fares to increase as well as tolls on major roadways such as the Pattullo Bridge. Private partners Many private, third parties have a vested interest in improved transit. For example, the light rail transit network in Surrey “will be built no

matter what” says Mayor Linda Hepner, who has already received interest in private partners for this project. The Mayor’s Council will need to be smart when targeting private funds in order to minimize trickle-down effect to the public, especially where housing is concerned. Though we cannot be completely certain of the exact implications of the No vote, we are back to square one so expect much debate and discussion over public transportation networks in order to accommodate our growing region. The conversation has only just begun.

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

NET GST*

THE BEST 6 WAYS TO LIVE WEST COAST

creekside enclave with classic extended Trans Canada Trail 1 Exclusive 4 Newly West Coast architecture, sustainable – the best outdoor public amenity in 1 BEDROOM design, and personalized interiors through Canada and gateway to active i.D. By Me.

Signature West Coast Piazza – a vibrant euro-styled town square with celebrated public art and water features.

North Shore outdoors.

Dedicated West Coast Club – fully equipped fitness centre, yoga room and social lounge.

views of the North Shore mountains distance to the SeaBus 3 Epic 6 Walking and the Vancouver skyline from your and a full spectrum of shopping, private rooftop terrace designed for your own hot tub spa*.

from a master-planned community built by Adera.

HOMES

STARTING FROM $224,900*

adera.com 604.980.0016 theshore@adera.com

* SELECT HOMES ONLY. LIMITATIONS APPLY. SALES BY DISCLOSURE STATEMENT ONLY. E&OE. SHORE PROJECTS LTD. ADERA REALTY CORP. 2200 – 1055 DUNSMUIR ST., VANCOUVER V7X 1K8 | 604.684.8277

LV D KW AY B

UB TEA PLA

COAST MERIDIAN RD

RIDGE PARK

ET R

WA Y

PA R

LVD

COQUITLAM | PORT COQUITLAM | PORT MOODY | PITT MEADOWS

VICTORIA DR

Barnet Hwy

COQUITLAM CENTRE

LINCOLN AVE

DEWDNEY TRUN K RD PRAIRIE AVE LD

SY NE

DAW ES

Lou

ghe

ed H

ES MUNDY ST

BRU

AV TTE

H IL LR

heed

Hwy

SW AY AV E

DOMINION AVE

Loug

AUSTIN AVE

MARI NE R WAY

MUNDY PARK

AUSTIN AVE

B3 B4

AU G

LINTON ST

SMITH AVE

COMO LAKE PARK

GATENSBURY ST

OTTAWA ST

COMO LAKE AVE

BLUE MOUNTAIN ST

DEWDNEY TRUNK RD

COLONY FARM REGIONAL PARK

s as

MEADOW GARDENS GOLF COURSE

B ill

FORD RD FRASER RIVER PITT MEADOWS AIRPORT

COQUITLAM A1. CROWN

520 Como Lake Ave Presentation Centre #104 - 522 Clarke Rd 604.939.8868

A2. CHARLAND

2102 - 963 Charland Ave 604.492.3388

A3. UPTOWN2

bosaproperties.com 604.939.2677

A4. BRADLEY HOUSE 3107 Windsor Gate 604.942.8416

58 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

123RD AVE

DEWDNEY TRUNK RD

HAMMOND RD

PORT COQUITLAM A5. HAZEL

827 Roderick Ave 604.937.2599

A6. EVERGREEN

251 Clarke Rd (In Uptown2 Sales Centere) 604.942.2672

A7. NOVELLA

711 Breslay St Presentation Centre #170 - 3355 North Rd (at Cameron St) 604.563.5777

HARRIS RD

NORTH RD

210TH ST

ST JOHNS ST

B1. ORCHID

2455 Wilson Ave. 604.866.4206

B2. FREMONT GREEN Fremont Connector 604.468.0084

B3. PRIMA

#110 - 2255 Wilson Ave 604.945.3999

B4. SPRING ON KELLY 2214 Kelly Ave. 778.809.3488

GOLDEN EARS BRIDGE

207TH ST

ROCKY POINT PARK

LA NS BL VD DOW

203RD ST

TA IN

PIONEER MEMORIAL INLET PARK PARK

OR CT VI

S BONSON RD

AVE

HARRIS RD

w H

SHORELINE PARK

DAV ID

TOWN CENTRE PARK

CEDAR DR

COAST MERIDIAN RD

R IT AG E

JOHNSON ST

t ne

r Ba

PI N

DAVID AVE IOC

R IVE

R RD

THE BEST VALUE IN WEST COQUITLAM WITH 110 HOMES ALREADY SOLD, CROWN IS THE SMARTEST DECISION

A KAN

WAY KA

272ND ST

AVE

DERBY REACH REGIONAL PARK

248TH ST

H 116T

240TH ST

R RD

KANAKA CREEK REGIONAL PARK

DEWDNEY TRUNK RD

110TH AVE 108TH AVE

JAC KS O

104TH AVE

ghe

Lou

E DR MACLUR

240TH ST

R IVE

228TH ST

WDNEY TRUNK RD

232RD ST

124TH AVE

227TH ST

3RD AVE

224TH ST

216TH ST

210TH ST

224TH ST

in West Coquitlam. The only concrete highrise with over-height ceilings, full-size premium appliances, unobstructed views and just steps from the Evergreen Line.

102TH AVE

NOW SELLING 1, 2 & 3 BEDROOM HOMES FROM THE $280,000s 604.939.8868 | CrownByBeedie.ca PRESENTATION CENTRE OPEN 12 – 5, SAT – THURS Burquitlam Plaza, #104 – 552 Clarke Rd (near Shoppers Drug Mart)

Pricing is subject to change. This is not an offering for sale. Sale can only be made by disclosure statement. E.&O.E. Renderings are an artist’s conception and are intended as general reference only.

CONDO PROFILE æ AT A GLANCE

Address 711 Breslay Street Community West Coquitlam Developer Springbank Properties Home Type Concrete Condominiums Sales Centre 170 – 3355 North Road, Burnaby Contact novella.ca 604.563.5777

NOVELLA Where your story unfolds

onstruction is underway and heads are turning at Novella in West Coquitlam. Located less than a five-minute walk from the upcoming Evergreen Line station yet tucked onto a quiet tree-lined street, this seven-storey concrete residence has style, charm plus a whole lot of attitude. No wonder over half these homes are already sold. My first glimpse of the scale model reveals a distinctly West Coast contemporary architecture — shimmering glass walls, intriguing metallic accents, and some of the biggest balconies I’ve seen in a long time. A couple of the upper floor, corner decks are cleverly designed so

60 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

By Susan M Boyce

they feel like three separate outdoor ‘rooms’ even though it’s actually a single interconnected space — meaning you can be as private or as social as you like. Okay, time to take a look inside the display home. A new chapter for living “Dylan is going to love this kitchen,” says a woman who’s leaning comfortably against the massive centre island watching her husband check out the glass-tile backsplash and optional wine fridge. “Look at all the cupboard space. And that gas range is fantastic.” She’s right — Novella is efficient design at its best. Yet there’s still a cozy

elegance to the way the cooking area and living room flow together. It just feels good, like being somewhere I want to hang out. “Our son bought a one-bedroom because he wanted to be in a concrete building but not a highrise.” The woman winks as her husband heads off to take a look at the cheater ensuite — an intelligent design I’ve always thought should be used in more one-bedroom homes. “We were already considering downsizing, and now we’re thinking about getting one of the threebedrooms here.” “During our pre-sales we’re offering limited opportunity to combine certain homes into extra-large, two- and threebedroom suites,” explains Katelyn Hollenbeck, Springbank Properties’ development manager, who’s just joined us. “Being able to buy a condo that offers as much as 1,513 square feet is extremely rare in this market.” “Perfect for people like us or for growing families,” adds Dylan’s mom. “This is such a great neighbourhood. We really didn’t want to leave and now we won’t have to.” Novella offers 77 condominiums ranging from one- to three-bedroom and dens from $274,900. Presentation centre and display home open noon to 5 p.m. daily except Fridays at 170 – 3355 North Road (lower level) in Burnaby.

COQUITLAM/PORT COQUITLAM/PORT MOODY

77 BOUTIQUE HOMES

CONSTRUCTION NOW UNDERWAY! SOPHISTICATED 1, 2 & LARGE 3 BEDROOM SUITES IN WEST COQUITLAM'S ONLY CONCRETE MID-RISE

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 61

TAXING ISSUES

Capital expenditures & deductible expenses By Henry Choo Chong

I recently purchased a rental investment property. Fortunately, the home was rented quickly. However, last summer because of several days of heavy rainfall, the roof leaked terribly and our ceilings were partially water damaged. I had to reshingle and replace almost half of the entire roof and repair the ceiling and floors. It also cost me more than $1,200 for a new fridge and stove. I have an individual who prepares my income taxes who has advised me that these are capital items and I could not deduct them for my income taxes. I find that ridiculous to be out of pocket that amount of money and I cannot deduct it. Sam, Toronto

Real estate rental deductions are always contentious, and Canada Revenue Agency frowns on expenditures that should be capitalized as opposed to being expensed immediately. As an accountant who deals with real estate investors on a

regular basis, I can tell you your concern is not isolated. The Income Tax Act does provide guidance with regards to capital items and current expenses. Capital expenditures – Generally, these are expenditures that will provide benefits and a useful life for several years – such as appliances, air conditioners and dishwashers. The Income Tax Act provides for Capital Cost Allowance (CCA) deduction for capital expenditures that can be expended over the useful life of the asset. Deductible Expenses – Generally, these expenditures may be deducted in the year they are incurred. They would include all expenditures directly related to the property such as property taxes, insurance, utilities, mortgage interest, advertising cost, legal cost, accounting fees, and repairs and maintenance. It would appear your repairs were performed to maintain the property to its original condition and would therefore be considered a current expense. However, the fridge and stove must be capitalized. Investors should always have a good accountant who deals with real estate investments on a regular basis to ensure the right advice is given.

I recently started my own small business, which is registered as a non-incorporated business. It earned approximately $34,000, less expenses. Additionally, I am employed full-time, as is my wife. What is my final date and can I choose my own year-end for my company? Yves, Oakville

62 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Congrats on joining the ranks of entrepreneurs. Many individuals talk about starting their own business but are reluctant to do so for various reasons. The primary obstacle is finances, followed by lack of knowledge about where to start. Individuals who are strictly T4d – that is, employed full- or part-time – were to file their year’s personal tax return on or before April 30 of the following year. Self-employed (including nonincorporated businesses) taxpayers and their spouse had to June 15 to file their tax return for the previous year. However, any income taxes owing would have to be remitted on or before April 30 of the filing year. Therefore, you should have your tax returns prepared before the end of April to avoid any interest penalties.

Henry Choo Chong, CGA, sits on many committees and provides accounting and tax services to individuals and businesses in the GTA. He can be reached at 416.485.5225. Questions to Taxing Issues can be emailed to choochonghcga@yahoo.ca

CONDO PROFILE æ AT A GLANCE

Location Coquitlam Community West Coquitlam Home Type Condominiums Builder Bosa Properties Sales Centre 581 Clarke Road Contact bosaproperties.com 604.939.2677

their sales center opening for the summer. Translation: if you missed out on Uptown’s first homes, this is the second chance you’ve been waiting for.

manager Jennifer Koole. “You’re barely a block from the new Burquitlam SkyTrain Station, walking distance to several parks, Lougheed Town Centre is just down the road, and it’s short, easy drive or bus ride to three higher education facilities: SFU, Douglas College and BCIT.” Plus there’s the convenience of having a high-end, 50,000-squarefoot grocery store just an elevator ride away — details will be released any day now, but you already know it’s going to be a cool place to grab the fixings for dinner including fresh cut flowers and a decadent dessert or two. Adding a final touch of pizzazz are the residents-only amenities that will be part of Uptown’s 2,135-square-foot Wellness Pavilion with yoga studio and fully equipped gym. After your workout, take your pick between the infrared sauna or steam room, relax, and congratulate yourself on your excellent taste and foresight in purchasing here.

Close to it all Naturally, at Uptown you’ll get all the luxurious features you crave: marble backsplashes, integrated cabinetry, custom closet organizers and full-sized European-style appliances. But there’s plenty more. “We hear it every day, buyers tell us they love Uptown’s incredible views — especially the mountain views — and the proximity to everything,” says sales

Uptown’s presentation centre and display suite are located directly opposite the site at 581 Clarke Road. Open noon to 6 p.m. daily. Floorplans range from one- to three-bedroom with prices starting at $293,900. For more information, visit bosaproperties.com or call 604.939.2677.

UPTOWN Upscale in West Coquitlam

ou love the location near West Coquitlam’s soon to be complete Evergreen Line. You appreciate the commitment to quality and detail that’s part of every Bosa Properties community. And you definitely understand the long-term value of owning a home in one of Metro Vancouver’s hottest, most connected neighbourhoods. So what are you waiting for? In response to overwhelming demand, Uptown has not only released the final homes in Tower One and a great selection of one- and two-bedroom homes in Tower Two, they’ve extended

By Susan M Boyce

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 63

A H Li M W

start your search here. Whether youâ€™re renting or buying, finding your next home has never been so easy.

A A A B C G M M M M M M M N O P R S S S Tr W

11 A B B C C E G H M O Th U

BRITISH COLUMBIA’S

NEW CONDO DEVELOPMENTS PROJECT

TYPE

C O N TAC T

PRICE

PROJECT

ABBOTSFORD

Abacus Uptown Hudson’s Loft 2 Lift Mahogany at Mill Lake Waterleaf

604.309.7155 604.864.8948 604.557.1047 778.255.9990 604.850.3694

Call Call Call Call From $179,900

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

604.541.9517 604.456.8883 604.291.9130 604.563.8386 libertyhomes.ca goldhouseliving.com liveatburnabyheights.com www.porte.ca/brentwood 604.899.8800 604.899.8800 604.435.9477 604.435.9477 604.456.0688 604.563.5777 604.431.6033 604.438.9922 604.527.7955 604.298.8800 604.438.1113 604.807.4353 604.218.3338 604.874.9232

Call From $239,900 Call From $299,90 From $239,900 Coming Soon Coming Soon Coming Soon From $349,800 Coming Soon Call From $439,900 Call Call Call From $334,900 From Mid $200’s From Low $300’s Call From $279,900 From $249,900 From $299,000

604.472.1123 604.931.0302 604.939.8808 604.942.8416 604.492.3388 604.939.8868 604.942.2672 604.936.1888 604.937.2599 604.939.8874 604.464.2701 604.941.8305 604.939.2677

Call From Low $200’s From $249,900 From $369,900 Call From $280,000 From $284,900 From $235,400 From $220,900 From $234,900 Call From $360,900 From $278,900

COQUITLAM

1123 Westwood Austin Bloom Bradley House Charland Crown Evergreen Grand Central 3 Hazel Mackin Park Oasis The Windsor Uptown2

C O N TAC T

PRICE

NORTH DELTA

LR LR LR HR LR

BURNABY

Aldynne on the Park Altitude Aviara Brentwood CentreBlock at Univercity Gold House Madison Madison & Dawson Met 1, The Met 2, The Metro One Metro Two Modello Novella OakTerra Paddington Mews Redbrick Solo District Station Square Subora Trio Wall Centre Central Park

TYPE

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

Penthouse (PH)

Live Work (LW)

City Home (CH)

High Rise (HR)

Delta Rise

604.594.7473

From $189,000

LR LR LR LR LR LR LR LR

604.882.8857 604.534.6000 604.533.7718 604.377.7000 604.427.3311 778.808.6563 604.539.2200 yorksoncreek.com

From $137,500 From $269,900 From $159,900 Coming Soon From $199,900 Call From $139,900 From $179,900

LR LR LR LR LR LR LR LR

604.463.0588 604.807.2423 604.477.1500 604.467.8884 604.467.0692 604.453.9278 778.878.1347 604.380.0300

From $174,900 From $189,900 Call Call Call From $157,900 From $164,900 From $189,900

HR LR HR LR LR LR HR HR MR HR HR

604.525.3941 604.520.9890 604.524.8080 604.520.9890 604.523.0733 605.523.0733 604.523.0081 604.523.0733 778.398.1344 604.522.2583 604.525.0223

From $229,900 From $218,900 Call Call Call From $239,900 From $270,900 From $239,900 Call From $239,900 From $299,900

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

604.980.9949

From $539,900 Coming Soon Coming Soon From the Mid $300’s Call Call Call Coming Soon Coming Soon From $259,900

LANGLEY

Athenry Gate Cornerstone Elements Focal Point Kensington Murrayville House Varsity Yorkson Creek MAPLE RIDGE

223 North Meadows Pointe Signature at Falcon Centre Parc Vue Reflections Rivers Edge Station One Wellington Station NEW WESTMINSTER

The Sapperton at Brewery District Duo at Port Royal Elliot St Glass House Lofts Grove, The Lookout at Victoria Hill, The Northbank Parkside at Victoria Hill Portage RiverSky Trapp & Holbrook NORTH VANCOUVER

15 West 221 East 3rd x61 Anchor, The Atrium at the Pier Ave Boutique Res., The Capstone Cates Landing CentreView Destiny 2 Mid Rise (MR)

Low Rise (LR)

Loft (LO)

x61living.com 604.988.8800 604.983.9065 778.985.4676 604.929.8870 604.871.4126 604.988.8540 604.929.1915

Townhouse (TH)

BRINGING PEOPLE HOME CONNECTING BUYERS TO THE BEST NEW HOME OPPORTUNITIES IN METROPOLITAN VANCOUVER

FIFTHAVE.CA

N E W H O M E S A L E S AND MARKETING EXPERTISE

JUL 24 - AUG 7, 2015 NEW CONDO GUIDE 65

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@ypnexthome.ca PROJECT

Drive, The Cates Landing Heywood on the Park Local on Lonsdale Loden Green Maplewood North Mill House Northlands Pinnacle Residences at the Pier Remix Tatlow Trophy at the Pier Seylynn Vilage Shore, The West Quay

TYPE

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

C O N TAC T

PRICE

PROJECT

604.986.8138 604.871.4126 604.985.0003 604.998.0219 604.988.0022 604.727.1594 604.986.0007 604.800.2120 604.983.9065 604.924.4488 info@tatlowliving.com 604.983.9065 604.980,5000 604.980.0016 604.988.8858

Call Call From $339,900 Call From low $600s From $378,900 Call From $244,900 Call Call Coming Soon From $509,900 From Low $300’s From Low $200’s From $459,900

LR LR

778.846.3200 604.460.6601

Call From $134,900

Aqua Elaho University Heights

LR LR LR LR LR LR LR HR LR LR LR

604.552.5887 604.657.9288 604.435.9477 604.349.9245 604.475.5100 604.866.4206 604.945.3999 604.468.8252 604.468.8252 778.809.3488 604.464.4764

From $158,900 Call From $209,900 Call From $169,900 From $159,900 Call Call Call From $215,900 From $246,900

SURREY

HR HR

604.552.0552 604.492.3338

Call Call

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

604.278.5809 604.276.2532 604.276.9186 604.276.0677 604.276.868 604.233.7748 604.273.1313 604.271.3331 604.278.0808

Call Call Call Call Call From $300,000’s From Low $300’s From $374,900 Call

PITT MEADOWS

Cedar Downs Liv42

PORT MOODY

Residences, The Station, The RICHMOND

Alexandra Court Alfa Avanti Camber Cadence Concord Gardens Elle Gardens, The Mandarin Walk

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

C O N TAC T

PRICE

604.233.7748 604.303.7575 604.278.8838 info@orchidbeedie.ca oxfordlane.ca 604.231.5900 604.303.8878 604.274.7326 604.303.0148 604.278.8825 604.233.2633 604.233.2633 604.270.2482 604.276.8885

From $300,000’s From $464,900 Call Coming Soon Coming Soon From Low $200’s From Low $370’s Call From $299,900 Call Call Call Call From $283,900

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

604.957.3331 604.596.2202 tiensher.com 604.581.5399 778.395.1886 604.530.5399 604.453.6688 604.497.0102 604.727.5478 604.800.9255 604.583.9866 604.817.5852 liveprime.ca 604.581.8000 604.888.514 604.588.5795 604.588.3783 604.951.9283 604.951.9283

Call From $170’s Coming Soon From $169,900 From $118,800 From $219,900 Call Call From $199,900 From $189,900 From $250,000 From $289,900 Coming Soon From $159,900 From $174,900 From $221,900 From $160’s From $279,900 From $199,900

LR LR

604.523.0733 604.576.1772

From $279,900 From $199,900

SQUAMISH / WHISTLER

PORT COQUITLAM

Altura Amanti on Welcher Carmandy Fremont Green La Via Orchid Prima Residences Shaughnessy, The South Verde Spring on Kelly Valorie on the Park

TYPE

Monet Opal at Richmond Centre Ora Orchid by Beedie Oxford Lane Parc Riviera Park Residences Pier, The Pinnacle Living at Capstan Riva River Green River Inlet Saffron Tempo

Penthouse (PH)

66 NEW CONDO GUIDE JUL 24 - AUG 7, 2015

Live Work (LW)

City Home (CH)

High Rise (HR)

3 Civic Plaza Ascend Balance Chroma Connect Esplanade at Waterstone G3 Residences Evolve Lingo Manarola Park Ave West Park Central Prime Quattro Ridge at Bose Farms University District Verve Wave Wynd CLOVERDALE

Grove, The One92 Mid Rise (MR)

Low Rise (LR)

Loft (LO)

Townhouse (TH)

PROJECT

TYPE

C O N TAC T

PRICE

PROJECT

VANCOUVER & AREA DOWNTOWN

188 Keefer Addition Burrard Gateway Eventide Fairmont Pacific Rim Estates Keefer Block Maddox Mark, The Modern Private Residences at Hotel Georgia, The Sapphire, The Tate Downtown Trump International Hotel and Tower® Vancouver Vancouver House

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

604.620.2018 604.620.6692 burrardgateway.com 604.783.1044 604.781.4303 604.682.8813 604.669.8200 604.687.4353 amacon.com 604.682.8107 604.876.9222 604.568.8283 604.568.7888 604.893.8958

Call From $349,900 Coming Soon Call Call From $269,900 From $389,900 Call From $465,900 Call From $685,000 From $320,900 Call Call

LR LR LR LR/CH MR LR LR MR LR LR LR MR HR LR MR HR LR MR HR MR

238westbroadway.ca 604.569.3388 604.264.6707 604.879.3257 604.872.0331 604.688.5566 liveatthegem.com 604.620.7886 604.688.5527 604.877.1116 604.779.0091 604.688.5566 604.879.8830 604.879.8830 604.437.5315 604.436.1100 604.303.8838 604.559.1070 604.874.9232 604.558.0899

Call From $227,900 Coming Soon Call From $269,900 Coming Soon Coming Soon Call From $349,900 From $339,900 From Low $200s Coming Soon Now Previewing Coming Soon From $314,900 Call From $219,900 From $239,999 From $299,900 From $240,000

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

604.828.3998 41westliving.com cressey.ca 604.620.8600 604.345.9000 604.738.0001 604.558.1907 604.646.1111 604.682.8801 604.685.5778 604.876.9222 604.875.8508 604.662.3373 604.662.3373 thecreekbyconcert.com 604.687.8800

Coming Soon Coming Soon Coming Soon From $528,800 Call Call From high $300’s From $499,900 Call From $367,400 From $389,900 Call Call Call Coming Soon From Mid $300’s

EAST SIDE

238 W Broadway Bohème Bold on Fraser East Park Evan Paragon Gem, The Kensington Gardens Local Main Street Oxford, The Paragon One Town Centre at River District Two Town Centre at River District Rhythm Skyway View338 Vya Wall Centre Central Park Wohlstein WEST SIDE

1555 West Eighth 41 West 6th & Yukon 99 West Aperture Arbutus Ridge Bennington House Binning Tower Block One Boulevard Private Residences Cambie Star Canvas Central Citti The Creek Voda Empire at QE Park

Penthouse (PH)

Live Work (LW)

City Home (CH)

High Rise (HR)

TYPE

Granville at 70th Kerrisdale Gardens Lido Livingstone House MC2 Meccanica Parc 26 Midtown Monarch Northwest Parc Elise Park&Metro Pinnacle Living Broadway Pinnacle Living False Creek Prodigy One Town Centre at River District Two Town Centre at River District Shannon Wall Centre Kerrisdale Sota The Ivy The Laureates The One The Spot Tower Green at West The Village on False Creek W10th & Maple

C O N TAC T

604.687.2298 604.559.9848 604.872.2672 604.998.8988 604.638.9998 604.876.8819

PRICE

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

604.563.3330 604.568.6883 604.325.5151 604.336.6380 604.325.8111 604.739.2080 604.874.8368 604.221.8878 604.879.8830 604.879.8830 604.267.8882 604.671.1025 604.566.5888 604.221.4450 604.874.8368 604.568.6886 604.707.9378 604.733.2010 604.739.2080

Call From $540,900 From $513,900 From $629,900 Call From $394,900 Coming Soon Call From $444,900 Call From $510,000 Call From $399,900 From $369,900 From high $300s Now Previewing Coming Soon Call From 2.5 million Coming Soon Call From $349,900 From $269,900 From $319,000 From $390,500 From $429,900

LR LR SF/LR

604.943.8811 604.948.2345 604.948.HOME

Call Call Call

HR LR LR

Cressey.com 604.836.7355 cressey.com

Coming Soon From $490,000 Coming Soon

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

604.531.6659 604.531.9030 cressey.com 604.818.5603 604.541.8092 604.536.1663 778.545.8737 604.536.0256 604.538.8028 605.560.1656 604.538.3237 604.560.3238

From $288,900 From $319,900 Coming Soon From $339,900 Call Call From $364,900 From $289,900 Call Call Call From $230’s

TSAWWASSEN

Brio Cityhomes Tsawwassen Springs WEST VANCOUVER

23rd and Bellevue Galleries on the Bay Kerrisdale by Cressey WHITE ROCK / SOUTH SURREY

Adagio Avra Beverley Edgewater Elgin House Gemini Heights, The Newport at West Beach Royce Saltaire Sausalito South Point Walk Mid Rise (MR)

Low Rise (LR)

Loft (LO)

Townhouse (TH)

New homes available throughout

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

@MAC_Marketing

/MACMSTube

OV ER

85%

The Biggest Decision of Your Day.

SOL

Club Destiny, the 5,025 sq.ft. residents-only clubhouse

Destiny2 at Raven Woods is the most sought-after community on the North Shore and offers access to the outdoors like no other neighbourhood in Vancouver. These 1-, 2-, and 3-bedroom homes provide the life you want, for a price you can afford. Come discover your Destiny.

NORTH VANCOUVER

EP DEE P COVE

Mt Seymour Pkwy

D oll ar t

on H w y

Raven Woods Dr

B UR RAR D INLET

Ironworkers Memorial Bridge to Vancouver

Presentation Centre and Display Suite

Homes starting from just $329,900. Visit us at DestinyLiving.ca

Open Daily Noon-5pm, Closed Fridays 590 Raven Woods Dr., North Vancouver 604-929-1915 | info@destinyliving.ca

The Developer reserves the right to make changes and modifications to the information contained herein without prior notice. Renderings, maps and photographs are representational only and may not be accurate. E.& .O.E.