BC New Condo Guide - Dec 12, 2014

[ 4-WEEK ISSUE ]

Dec 12, 2014 - Jan 9, 2015 Volume 04 Issue 25

Register now for Pre-Completion Pricing: www.newportliving.ca

碧

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INSIDE THIS ISSUE

港

灣 FLASHBACK ON THE YEAR THAT WAS 2014

BUYING AND MORTGAGING A MICRO-CONDO

STAYING ON BUDGET THIS HOLIDAY

BE AHEAD OF THE CURVE, IT’S WHAT VISIONARIES DO. Port Moody, with it’s rich history, has long been a living destination for Vancouver families. With the new Evergreen Line coming and an influx of contemporary retail, Port Moody is quickly becoming an urban hotspot for a younger generation. The Station, by Aragon, is on the leading edge of this change and with move-in ready homes available today, you too can be a part of it.

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CONDO HOMES at

BY LAKEWOOD

2855 156th Street, Surrey theheightsliving.ca 778.545.8737 Showhomes open daily (except Fridays) 12-5pm Closed Dec 23-Jan 2 (showings are available by appointment)

4 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 7

TABLE OF CONTENTS

December 12, 2014 January 9, 2015 VOLUME 4 ISSUE 25

On The Cover

NEWPORT AT WEST BEACH

Everything spectacular about White Rock

by Susan M Boyce

COLUMNS, NEWS & FEATURES 012 EDITOR’S NOTE COLUMNS

020 2014 IN REVIEW The good, the great and the amazing - 2014 surpassed expectations

BY SUSAN M BOYCE

026 CONDO SENSE The Right of Rescission Period on a new home

BY CAMERON MCNEILL

52

042 BUYER PROFILE Peter is all about the style and walkability of Frameworks

BY SUSAN M BOYCE

046 HOME SWEET HOME The rise of the Micro Condo

BY LYDIA MCNUTT

048 INSIDE MORTGAGES Tips for buying into a strata

062 TAXING ISSUES All about your assignment agreement

052 MAGIC CARPET GUIDE Fashion-forward floors

066 MONEY MATTERS Keep your budget on track through the holidays

BY KRIS GRASTY

BY YANIC SIMARD

056 MORTGAGE ADVICE Facts about mortgaging your micro condo

BY ALYSSA RICHARD

BY HENRY CHOO CHONG

BY GAIL VAZ-OXLADE

072 CONDO PRO Where do all my condo fees go to?

BY BARBARA LAWLOR

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 9

President, Wall2Wall Media

Jacqueline Hill Editor-In-Chief / Director of Content

Susan Legge

CONDO PROFILES

Director of Sales, National

Josh Heppner Senior Sales Manager, Western Canada

38

Edwin Rizarri Art Director

Tammy Leung

38

Editors

Stephanie MacDonald Diane Duflot (on leave)

APERTURE Living light on the West Side

Contributing Editors

Lydia McNutt Sara Duck Wayne Karl

BY SUSAN M BOYCE

Design Editor

Yanic Simard

Media Consultants

Dave Bird 604.319.7102 Brenda Everitt 604.319.7103 Sales Coordinator

Justin Salvador

Production Manager

Bala Gnanapandithan Graphic Designer

Miguel Cea, Mike Terentiev Production Co-ordinator

IN THE NEWS

MAPS

028 UDI AWARDS OF EXCELLENCE 2014 winners announced at gala

014 024 034 044 050 054 064 070 074

036 CMHC Canadian market analysis says we’re on track 058 REBGV November home sales above 10-year average to finish off a strong year

South Surrey/White Rock Surrey/Langley Vancouver Richmond Maple Ridge/Pitt Meadows Tri-Cities Burnaby/New West Abbotsford North Shore/Squamish/ Whistler

Mohammad Haidarpour CONTRIBUTING EDITORIAL WRITER

Susan M Boyce

Published By

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

HOMEBUYERS’ HELP

030 CONDO MARKET WATCH Condominium homes to keep your eye on

BY SUSAN M BOYCE

77 HOMEBUYERS’ RESOURCE SECTION 80 LISTINGS DIRECTORY

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

ADVERTISING

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

HOMES AS GRAND AS THE VIEWS HUGE RESIDENCES BOASTING FINE DESIGN ON WHITE ROCK’S NATURAL RISE. WELCOME TO MORE STORAGE, BETTER VIEWS AND THE MOST INCREDIBLE LAYOUTS.

The opportunity to own a spectacular, spacious White Rock home is finally here.

Cressey’s air conditioned, 2 and 3-bedroom concrete residences are remarkable in both size and interior finishing. Imagine preparing a feast in your CresseyKitchenTM while overlooking steel blue Pacific waters, taking an invigorating swim at the Beverley Club, and savouring life inside a well-planned home with all the storage you could ever want.

PREVIEWS WILL BE BY APPOINTMENT ONLY. REGISTER TODAY FOR MORE INFORMATION.

beverleybycressey.com or 604-560-0075 This is not an offering for sale. Any such offering can only be made with a Disclosure Statement. E.&.OE.

EDITOR’S NOTE

A NEW YEAR, A NEW CONDO

SUSAN LEGGE

Those planning a new condo purchase in the coming year will be pleasantly surprised by the exceptional value and attention to detail buying new has to offer. When you buy brand new, you don’t inherit somebody else’s worn carpeting, personal taste in kitchen appliances or paint colour preferences.

You get a fresh, clean space that’s waiting for your personal imprint.

Here are some tips to help make the purchasing process a pleasant one: ›› Shop the mortgage market to see what you can afford before you start your hunt. ›› Find a lawyer to review your offer and help you close the deal. ›› Don’t be persuaded by high-pressure sales tactics while shopping. ›› Determine which options and upgrades you want as part of your offer and ensure your lender will finance what’s required.

EDITOR-IN-CHIEF

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

Factors like the cost of the home, neighbourhood and extra features play a big role in your final decision. Consider your purchase from every angle to ensure you’re making a smart move that you can live with for years to come.

A new year represents a fresh start, so kick it off right and make a new condo part of your plan in 2015!

HAPPY HOLIDAYS, AND HELLO 2015!

STEPHANIE MACDONALD EDITOR

Wall2Wall Media Stephanie.MacDonald@wall2wallmedia.com

12 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

And another year goes by, and we’ve got lots to be grateful for and lots to look forward to in the coming year ahead!

As we hunker down for the winter and the holidays, we really get to appreciate the important things around us, like our friends and family, our neighbourhoods and our beautiful environment. We can also see the things we do not appreciate — maybe it’s having no room to entertain, or a certain very long commute, or the need for another bedroom or many things that could be remedied by a new home.

If you’re bummed by your drive to work, you might want to look closer to the city, if you crave space and nature, go farther afield, but the good news is that Metro Vancouver has a robust and varied housing market that has options for everyone.

Now’s the time to start looking, as interest rates are still low and there’s never been more choices available for all price ranges and lifestyles.

In this issue we’ve got a great feature on the year that was, and please pick up our next issue on January 9th for insightful predictions from the experts about the year ahead.

Happy holidays and happy home hunting from all of us at Wall2Wall!

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 13

176TH ST

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CANADA

SOUTH SURREY / WHITE ROCK UNITED STATES OF AMERICA

1. SALTAIRE

Johnston Rd & Thrift Ave 604.662.3700

2. ELGIN HOUSE 3323 - 151st St 604.541.8092

3. GEMINI

15336 - 17A Ave 604.536.1663

4. ADAGIO

7. EDGEWATER

10. BEVERLEY

5. HEIGHTS CONDOS

8. ROYCE

11. NEWPORT AT WEST BEACH

6. SOUTH POINT WALK

9. HEADWATERS

20th Ave. & 154th St. 604.531.6659

2855 156th Street, Surrey 778.545.8737

29A Ave & 152 St 604.560.3238

14 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

36 Ave & 152nd St. 604.818.5603 14855 Thrift Ave 604.538.8028

15428 31st Ave 604.560.5535

1458 Vidol St 604.560.0075

www.newportliving.ca 604.536.0256

8TH AVE

SOUTH SURREY/WHITE ROCK

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 15

COVER STORY

NEWPORT AT WEST BEACH THIS IS WHITE ROCK // BY SUSAN M BOYCE IT’S NO SECRET. I’ve always loved White Rock. Sure I’m a wee bit biased. This is, after all, the neighbourhood where I grew up: the seaside Promenade, the public pier where I learned to swim, and the 486-ton rock that children still climb to prove their daring and prowess are all places with memories I treasure.

So I’m not the least bit surprised when Glenn Duff tells me sales at Newport at West Beach have been stellar as buyers 16 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

This is going to be a true landmark as you come from the west into the beachside area.

— Glenn Duff embrace a rare opportunity to own a brand new home directly opposite the beach. “We’ve completely sold out the Villa homes and the ground-level commercial/retail space, and almost three quarters of our Garden Suites are sold,” he says.

“We’ve also responded to overwhelming demand for singlelevel condominium homes by totally reinventing the remaining Vistas building,” Glenn continues. “That means we’re able to offer 14 additional condos — seven with ocean view — and have created some larger floor plans with as much as 1,600 square feet as well as seven one-bedrooms over 700 square feet in size.”

Experience Elegance

And what homes they are — a sophisticated combination of überchic styling and the quaint, small-town charm that still defines White Rock.

Kitchens are sure to bring a sigh of appreciation from anyone who loves cooking. Hint: massive centre islands, quartz or stone counters, a Jennaire microwave/wall oven combination, and solid-slab backsplash in quartz or Italian statuary marble.

Cabinetry is a sleek, high-gloss white that’s at once dramatic yet airy and inviting. Upper horizontal cabinets 17

have the automatic soft close I’d love to have in my own kitchen, and even though Glenn says many people think it’s German-engineered, every cupboard and drawer is actually custom made locally in Richmond.

From a previous visit I remember another oh-so-intelligent luxurious detail — ensuites with double shower and a jetted soaker tub. That’s right, in many Newport at West Beach homes you get a real jetted tub with candle ledge — or as I prefer to think of it, a romantic candleand-champagne ledge.

New since I was here last are the built-in gas barbeques that now come with every home. And make no mistake, these go way, way beyond a simple gas outlet — they’re full-on, built-in barbeques just waiting for you to get

your favourite grilling recipes on the go. Which means that if you’re like me, your toughest choice may well be whether to cook inside or out.

Iconic Setting

Ideally situated on the corner of Oxford and Marine, Newport is an engaging transition between the Promenade’s eclectic seaside shopping/ dining district and a long established residential neighbourhood of singlefamily homes. “This is going to be a true landmark as you come from the west into the beachside area. And even though you’re just a few blocks from all the existing amenities, this neighbourhood is quiet,” Glenn says, adding it’s also a friendly place to live. “I see friends out jogging or walking their

18 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

dogs along the Promenade all the time.”

In fact, a walk along the Promenade sounds like the perfect way to end the afternoon. Then maybe dinner at Washington Avenue Grill or Charlie Don’t Surf or that funky looking Greek restaurant I noticed as I drove by. Or there’s Cielo’s Oyster Bar… decisions, decisions.

Newport at West Beach is now under construction at Marine Drive and Oxford Street on White Rock’s seaside. Prices range from $279,000 to $979,000.

Temporary sales centre now open by appointment only at 139 – 3388 Rosemary Heights Crescent in South Surrey. For more information and updates about you’ll be able to visit the new presentation centre, check out newportliving.ca or call 604.536.0256.

SOUTH SURREY/WHITE ROCK

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 19

FEATURE

Year in review

HIGHLIGHTS OF 2014’S CONDO MARKET // BY SUSAN M BOYCE “EVEN BETTER THAN ANTICIPATED” was

the general consensus when industry insiders and experts discuss 2014.

According to the Real Estate Board of Greater Vancouver, sales to the end of September showed a whopping 17 per cent increase over the first three quarters of 2013, while Urban Analytics reported a 39 per cent increase in year-to-date

sale in the multi-family sector making the year just drawing to a close the most active since 2010.

“We had 19 very active presentation centres open this year and achieved almost record sales in dollar volume,” notes Tracie McTavish, president of Rennie Marketing. “Plus we’re starting to see multiple offers on well-priced,

20 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

well-located resale product — which is a testament to the strength of the market.”

On the ultra-high end, 2014 also saw the highest recorded condo sale: a cool $25 million for a penthouse at the Fairmont Pacific Rim in downtown Vancouver.

Trendsetting Sales

Twisting architecture was clearly a hit in downtown Vancouver with two residences, Trump Tower and Vancouver House, selling rapidly. Vancouver House

by Westbank surprised even the most optimistic marketing experts when, despite a price tag that for most suites passed $1,500 per square foot, the building was virtually sold out by November — all the more unexpected due to a delayed launch date. In a conversation with Urban Analytics, sales staff reported that approximately 60 per cent of Vancouver House buyers are local residents —

OPPOSITE

Ridge at Bose Farms: The Ridge at Bose Farms offers sophisticated, city condos in a historic agricultural setting.

TOP RIGHT

Adera’s über-green development at UBC received a 2014 UDI Award of Excellence.

BOTTOM RIGHT

Aspac’s River Green in Richmond features hotelstyle amenities and outstanding displays of public art including a glass skybridge.

proving demand is still strong for luxury product in downtown Vancouver.

The year 2014 brought Burnaby into the spotlight as a hotbed of condo development, outpacing condominium presales every other Metro municipality except Vancouver.

Of note, however, is the fact Burnaby still sold more units than Vancouver’s downtown and Westside — only sales in Vancouver East gave the city its lead for the year.

Two projects accounted for much of this achievement. Shape’s visionary redevelopment of the Brentwood Town Centre sold almost 600 suites this year alone and subsequent phases are expected to sell just as quickly. And in Metrotown, Station Square’s dramatic transformation of an existing mall — a collaborative partnership between Anthem Properties and Beedie Living —

is impressing buyers of all generations.

“Station Square is one of the largest residential developments in Canada,” says Greg Zayadi, Anthem’s vice president of sales and marketing, adding that the first two of five towers have been outselling all three of Station Square’s immediate competitors combined.

Of note among the many new offerings in Richmond were Aspac’s River Green in the evolving Olympic Oval neighbourhood and Cressey’s Cadence — high-end projects aimed squarely at the sophisticated, well-heeled end user.

One of the year’s most unusual condo developments, The Ridge at Bose Farms in Surrey sold far ahead of schedule. The project’s runaway success is attributed in large part to its outstanding location on a ridge overlooking farmlands and protected forest as well as an intriguing

heritage restoration of the iconic Meadow Ridge barn and other original structures.

What’s Hot

Speaking at the Canada Mortgage and Housing Corporation (CMHC) Housing Outlook in November, well known “condo king” Bob Rennie noted that response from a survey of 3,700 people indicated location, price, transit and building amenities — in that order — remained the prime influencers in their decision to purchase a condo home in 2014.

“Green elements were last — the same as in 2013,” he said. “Surprisingly, even people who don’t own a vehicle, ranked green last on the list of importance.

Buyers, especially first time buyers, are not philanthropists out to save the planet, they are purchasing a home.”

At UBC though, Adera is one of the developers that continue to be driven by

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 21

We had 19 very active presentation centres open this year and achieved almost record sales in dollar volume. a commitment to going green. Adding a November UDI Award of Excellence to its lengthy list of accolade. “SAIL has pushed the boundaries of innovation,” notes Adera president Norm Couttie.

“It is the first-ever building awarded the REAP Platinum home certification at UBC and the first six-storey, pure woodframe residential building at UBC.” After being absent for some time, the first time buyer made a strong reappearance in 2014. However, according to Rennie’s research, almost half (48.5 per cent) of first time buyers relied on parents or grandparent to help with their down payment and that might push more first-timers into the suburbs.

“When you add in our aging population, the historical 104 per cent growth in condominium ownership and then throw in the ugly truth that Vancouver will never create another single-family lot in my lifetime unless a house currently sitting on two lots is torn down, there is nowhere for many first time buyers to go except up or out.”

The People Spoke

In November, there was a collective sigh of relief when municipal elections were finally over. With a voter turnout of 44 percent in Vancouver — the highest since 2002 — reaffirming Gregor Robinson as mayor and a decisive victory for Linda Hepner as the hand-picked successor to Dianne Watts in Surrey, the province’s two largest municipalities are set for another term of continuity. And overall that’s good news for the development industry because it brings stability.

Connected Buying

Surprising no one, the trend to increasing consumer awareness through use of social media and Internet continued strong in 2014. “People are empowering themselves through knowledge — many arrive at presentation centres with at least as much knowledge about the product as the sales staff,” says Bill Szeto, president of Otezs Project Marketing.

Savvy marketers are jumping on board with ever more innovative way to attract buyers who love their tech. One worth noting was a new spin on the ubiquitous presentation centre monitors showing often computer generated views of the surrounding landscape or finished amenities. In late fall, The Ridge at Bose Farms unveiled a new technology that allows people an even more realistic experience. Holding iPads in front of them, visitors can “see” different parts of the development and physically “walk” across the floor gaining a true sense of movement and connectivity.

Be sure to join us in January when we talk to industry insiders about what they predict for 2015’s housing market.

22 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

TOP

Station Square lays claim to being one of the largest residential developments in Canada.

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NEWCONDOGUIDE.COM

SURREY | LANGLEY 116TH AVE

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24 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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B1. CORNERSTONE 5655 210A Street 604.534.6000

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20678 Willoughby Town Centre Drive 604.427.3311

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 25

CONDO SENSE

// BY CAMERON MCNEILL

ONE MORE BENEFIT OF BUYING NEW:

The Right of Rescission Period

“OKAY, I GET THAT, BUT IT TOOK A FEW DAYS TO NEGOTIATE THE PRICE. WHEN DO THE 7 DAYS BEGIN?”

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

C

hoosing to make the investment into a brand new home has many practical benefits.

Warranty protection, customizations, the latest in appliances, finishing materials and building technologies are all reasons we’ve seen buyers choose new. There is an added benefit of the seven-day Right of Rescission period not seen in traditional resale.

The Government of British Columbia legislated that a purchaser of a new home has the right to rescind on their signed contract of purchase and sale within seven days of making the agreement. In plain speak, this means that every purchaser of a new home has seven days to review the purchase agreement documents in detail.

Great question. The seven day Right of Rescission period beings after two steps are complete: ›› You, the purchaser, sign a form acknowledging that you’ve read the Disclosure Statement. This outlines critical information about the construction, builder and budget of your new home, amongst other details. ›› The contract of purchase and sale is signed, complete, and therefore, binding. The seven days don’t begin until the last counter-offer, and all associated terms, have been agreed to by both parties.

“OKAY, I’VE READ THE DISCLOSURE STATEMENT, SIGNED THE FORM AND THE DEVELOPER HAS AGREED TO MY OFFERED PRICE. THE CLOCK IS TICKING… NOW WHAT?”

The Rescission period is your opportunity to do your due diligence after the excitement of your new home purchase. Chances are you have been pre-approved with a mortgage provider but now you can meet with your mortgage broker and your bank to review the exact financing implications of your final purchase price.

Discuss the terms with your accountant. Review the final contract with your lawyer.

And, schedule some quiet time to re-read the Disclosure Statement. These take months for a developer to compile, and they contain thoughtful information about many aspects of the building that you may not have considered. If the seven days elapse and we have not heard from you, congratulations, you are now the proud – and informed – owner of a brand new home!

An added benefit of the rescission period is that you have reserved your home with no risk. Prices may go up, other home plans will be sold to other buyers, but your home is reserved for you at the terms that you agreed to. When you’re busy trying to coordinate financing and life logistics, this added peace of mind around your new home purchase can feel priceless.

Discuss the terms with your accountant.

Review the final contract with your lawyer.

And, schedule some quiet time to re-read the Disclosure Statement.

26 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

SURREY/LANGLEY

your chance to own a piece of the bloc People are buzzing about the upcoming release at Yale Bloc. These 1 and 2 bed condos are streamlined and modern, bringing something new, exciting and much needed to the Willowbrook neighbourhood! Comprised of three distinct buildings, linked by an open courtyard with ground level shops, Yale Bloc is ready to connect you to the contemporary and convenient life you want.

Get ready to be amazed! Get ready to think outside the bloc.

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 27

IN THE NEWS

UDI AWARDS

for Excellence Celebrate Best of B.C. Development AT THE 30TH ANNIVERSARY OF ITS BIENNIAL AWARDS ON WEDNESDAY NIGHT, November

26th, the Urban Development Institute Pacific Region (UDI) announced the winners of the 2014 UDI Awards for Excellence.

“The UDI Awards are the premier form of peer recognition for B.C.’s real estate development industry,” said Anne McMullin, President and CEO of the Institute. “This year’s record number of exceptional submissions had the jury deliberating at length to identify the top achievers for each category.”

The winning projects and their respective development teams were awarded based on sustainable building and landscape features, innovative design, marketing success, as well as integration with transit and community context.

More than 700 people attended the black tie gala, celebrating achievements across a range of categories that included Best Heritage, Best Affordable, Best Urban Infill and Best in Show among the honours. In addition, four distinguished industry leaders, Keith Beedie, Milan Ilich, Robert H. Lee and Joe Segal, were inducted into the UDI Hall of Fame, while the Maureen Enser Award was presented to Wesgroup Properties’ Beau Jarvis. The night also revealed the winner of The Vancouver Sun Readers‘ Choice Award for Best Residential High-Rise as Private Residences at the Hotel Georgia by Delta Land Development.

“These prestigious Awards recognize the outstanding contributions of developers who help shape our vibrant, liveable communities,” said Ms McMullin. “Congratulations to the well-deserved 2014 UDI Awards for Excellence winners.”

28 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

2014 UDI AWARDS FOR EXCELLENCE WINNERS: Best Heritage: 564 Beatty Street, Reliance Properties Best Outside the Box: Victoria Public Market at The Hudson, Townline Group of Companies Best of the Okanagan: West Harbour Resort, Troika Developments Best of Vancouver Island: Union, Anthem Properties Master Planned Community: River Green, Aspac Developments Best Affordable: The Standard, Blue Sky Properties Best Urban High-Rise: The Mark, Onni Group Best Suburban High-Rise: MetroPlace, Intracorp Projects Best Mid-Rise Residential: Kits360, Intergulf Development Group Best Low-Rise Residential Vancouver/North Shore: SAIL, Adera Development Best Low-Rise Residential Richmond/Burnaby/Vancouver Island: Storybrook, Ledingham McAllister Properties Best Low-Rise Residential New Wesminster/Delta/White Rock/Surrey/Langley: Saltaire, Ledingham McAllister Properties Best Ground Oriented Multi-Family: Mason&Green, Polygon Homes Best Single Family/Duplex: Hampstead at Silver Ridge, Portrait Homes Best Urban Infill: Rolston, Rize Alliance Properties Best Commercial/Retail/Office: 1025 Robson, Westbridge Capital Group/West Coast Projects Best Mixed Use: The Prescott, Wesgroup Properties Best Environmental Innovation: Private Residences at Hotel Georgia, Delta Land Development Best Industrial: FedEx Freight at PacificLink, Wesgroup Properties Best in Show: 564 Beatty Street, Reliance Properties UDI/Vancouver Sun Readers’ Choice Award (for Best Residential High-Rise): The Private Residences at the Hotel Georgia, Delta Land Development Maureen Enser Award: Beau Jarvis, Wesgroup Properties UDI Hall of Fame Inductees Keith Beedie, Beedie Development Group Milan Ilich, Progressive Group of Companies Robert H. Lee, Prospero International Realty Joe Segal, Kingswood Capital Corporation

ATHENRY

Move-In Ready

GATE

!

T F E L S T NI U 7 1 Y L N O C1

2 Bedroom

730 SQ. FT.

1 PARKING STALL 1 STORAGE

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

ONLY 5 LEFT:

A community of European-inspired condos that are as sophisticated as they are affordable.

$

$219,900

Set in Willoughby, in the heart of Langley. Boasting top-tier craftsmanship, wide and spacious rooms and appealing European styling, each home at Athenry Gate will be built with superior attention to both functionality and form.

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$270,000

Don’t miss the opportunity to achieve the lifestyle you have always wanted and own a home with uncompromising charm and charisma – visit our Presentation Centre today! or call 604-882-8857

BONUS! 2 Bedroom + 1 Bathroom

500

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■

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athenrygate.com Sales and Marketing by Solon Bucholtz 778.995.7467

HOLIDAY HOURS Closed Dec. 22 - Jan. 2.

Open by appointment only during the Holidays.

Call 778-995-7467

CONDO WATCH

CONDO MARKET WATCH Condominium homes to keep your eye on // BY SUSAN M BOYCE

RiverSky New Westminster ON THE STREET: 1000 Quayside Drive

(opposite the river on the Esplanade Boardwalk) ON THE WEB: bosaproperties.com/ riversky INFO: 604.522.2583 HIGHLIGHTS: Think again if you believed riverfront living was out of your reach.

Registration is now underway for two residential towers offering innovative outdoor spaces, retail at lobby level, private fitness room and entertainment lounge.

Amazing location with River Market next door, SkyTrain just around the corner, and the boardwalk at your front steps. Sunny one-, two-, and three-bedroom homes featuring BosaSPACE™ design for truly

transformational homes. Now compared to Gastown and Commercial Drive, this neighbourhood boasts a refreshing hipster vibe plus gastronomy hub, rich culture (including three live performance theatres), and 48 parks.

York Kitsilano ON THE STREET: 2028 York Ave ON THE WEB: liveatyork.ca INFO: 604.649.4883 HIGHLIGHTS: Outstanding opportunity to purchase a brand new condominium home in one of Vancouver’s favourite neighbourhoods. Dramatic, curved architecture plus luxurious finishing including private decks, in-floor radiant heat, solid engineered wood flooring, and gas fireplaces. Only two homes per floor, each with two-bedrooms plus den, private elevator access, and square footage starting at well over 1,000 square feet. Just minutes to Kits Beach, the amenities of the bustling West 4th Shopping District, and Granville Island. Sizzling, contemporary styling and an über-urban level of finishing details.

The Arc Vancouver ON THE WEB: arcvancouver.com INFO: 604.899.8800 HIGHLIGHTS: Concord Pacific’s newest addition to the Central False Creek neighbourhood is now accepting priority registration. Be part of everything that makes Vancouver a world-class city. Step outside your front door and explore the delights of the Seawall, Yaletown shopping, the entertainment district and a diverse array of outdoor activities. Register today for more information as it comes available.

BlueSky Coquitlam West Coquitlam ON THE STREET : North Road and

30 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

Foster Avenue ON THE WEB: blueskyproperties.ca INFO: 604.299.2583 HIGHLIGHTS: Details are still minimal, but here’s what’s available so far. Located in the rapidly emerging and evolving West Coquitlam/Burquitlam neighbourhood— meaning you’ll have easy access to SkyTrain, Lougheed Town Centre, SFU and the freeway to downtown or east to the Okanagan — BlueSky Coquitlam with be two towers soaring 30 and 33 storeys high. Of the 500-plus homes, just over 150 are anticipated to be high-end rentals. Keep your eye on the website and this column for more details as they’re released.

The Independent at Main Vancouver ON THE STREET: 285 East 10th Avenue ON THE WEB: independentatmain.com UPDATE: Located in the heart of Mount Pleasant, this dynamic mixed-use development has just received the required municipal go-ahead. Don’t miss this fantastic opportunity to be part of one of Vancouver’s coolest, trendiest neighbourhoods — a neighbourhood where past heritage rubs shoulders with contemporary vision and where artistry and culture are part of the fabric of every day living. Great coffee shops and restaurants too. Priority register to get more information.

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

SURREY/LANGLEY

NOW SELLING

NO TAX EVENT

The final building @ Verve

Save the taxes on move-in ready homes (up to $17,000 off)

Say NO to #FOMO Building 1 SOLD OUT | Building 2 MOVE-IN NOW Building 3 NOW SELLING — priced from $169,900 Avoid #FOMO

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› NEVER BEFORE SEEN FLOORPLANS › MODERN FINISHES TO BRAG ABOUT › GYM, LOUNGE & GAMES ROOM ALL IN YOUR BUILDING — WHY WOULD YOU EVER NEED TO LEAVE? › JUST A 6 MINUTE WALK FROM KING GEORGE SKYTRAIN

Take advantage of our INSANELY popular flexible deposit program PORTE.CA/VERVE/NODO PRESENTATION CENTRE & SHOW HOMES: 13931 Fraser Hwy, Surrey | Open Daily 12–5pm (CLOSED FRI)

PORTE.CA/VERVE | 604.588.3783 Pricing and promotion subject to change without notice. Sales by disclosure statement only, E&OE.

Proudly developed by

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 31

SURREY/LANGLEY

THE PHASE YOU HAVE BEEN WAITING FOR IS SELLING FAST! OVERLOOKING THE COURTYARD WITH HERITAGE HOUSE AND GARDEN PLOTS ON TO NORTH SHORE MOUNTAINS AND BACKING ON TO NATURAL HERITAGE FOREST.

TheRidgeAtBoseFarms.com

Presentation Centre Open Daily 12–5 (except Fridays) Open by appointment Dec 22 - Jan 3 604.888.5514 168th St

ONE BEDROOM + DEN FROM $219,900 * TWO BEDROOM FROM $249,900 *

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160th St

Featuring larger homes up to 2 bedroom + den with courtyard and mountain or heritage forest view. Spacious balconies and patios for optimal outdoor living. Beautifully designed

by Award Winning Creative Design Works with heritage style features. New state of the art clubhouse in a modern barn interpretation includes chef kitchen and lounge, fitness, private theatre and more. Only 56 homes. Don’t miss out on Surrey’s most popular community. Visit today to see what all the fuss is about.

Visit today and find out why!

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THE RIDGE PHASE 3

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64th Ave

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*Prices quoted are for all available phases, exclude taxes and are subject to availability at time of visit and/or to change without prior notice. E.&O.E.

32 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

SURREY/LANGLEY

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 33

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

RIN

ED

R

W 49TH AVE

OAK ST

QUEEN ELIZABETH PARK

E 12TH AVE

SW AY

15

12 1

RI

SW

24 E 29TH AVE

18 3

MA

NE

E 49TH AVE

DR

SE MARIN E

CAMBRIA

8.

RADIUS

13. FRAMEWORK

18. SKYWAY

APERTURE

9.

TOWER GREEN AT WEST

14. ADDITION

19. CITTI

15. JADE

20. NORTHWEST

16. LIDO

21. OPSAL

Cambie & 50th 604.325.2216 Presentation Centre in Oakridge Mall (south entrance, near Kin's Market) 778.616.7008

WALL CENTRE CENTRAL PARK

Boundry Road & Kingsway 604.874.9232

4.

NG

E 41ST AVE

20

3.

KI

E BROADWAY

E 33RD AVE

2

W 70TH AVE

2.

23 5 19

E KING EDWARD AVE

W 57TH AVE

1.

E BROADWAY

W 12TH AVE

W 41ST AVE

E 1ST AVE

17

MODERN

1001 Harwood St 604.879.2010

5.

VYA

6.

TATE DOWNTOWN

7.

SAIL

225 Kingsway 604.559.1070

4th Ave. & Fir 604.731.5522

195 W. 2nd Street 604.707.9378

10. FOCAL

209 East 7th (Main & 7th) Presentation Centre: 329 E Broadway 604.563.6777

11. KEEFER BLOCK Keefer St & Main St 604.682.8813

12. BOULEVARD PRIVATE RESIDENCES 6493 West Boulevard 604.685.5778

1265 Howe St 604.568.8283

108 - 3479 Westbrook 604.221.8878

34 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

Pender & Main Street 604.620.6223 1149 Hornby St 604.620.6692 5965 Fraser St 604.338.5233 103 - 110 Switchmen St (near Que and East 1st Ave) 604.872.2672

17. MARQUEE ON THE DRIVE

2250 Commercial St 604.559.2011

DR

BOUNDARY RD

MA

19

AVE

VICTORIA DR

SW

W BROADWAY

INAL

KNIGHT ST

W KING EDWARD AVE

PACIFIC SPIRIT PARK

DUNBAR ST

L AL

7

W 16TH AVE

8

21

OAK ST

KM

6T

W1

W BROADWAY

16

W 6TH AVE

GRANVILLE ST

OO

VE HA

9

MAIN ST

ALMA ST

W 4TH AVE W 10TH AVE

CORNWALL AVE

MAIN ST

REY RD

CAMBIE ST

JERICHO BEACH PARK

LVD

TE R M

BURRARD ST

POINT G

5

VENABLES ST

6

BR ST WE

UBC

E DR

LLOR B

ARBUTUS ST

NCE

MCDONALD ST

AR IN

CHA

E HASTINGS ST

11

RENFREW ST

4

NW M

13

14

COMMERCIAL DR

BURRARD INLET

2699 Kingsway 604.808.6038 238 W Broadway 604.880.6880 8175 Cambie St. onni.ca 2nd & Quebec 604.876.7333

22. 41 WEST

675 W41sr Ave 41westliving.com

23. INDEPENDANT AT MAIN www.independantatmain.com

24. MERCER BY CRESSEY 3456 Commercial Dr 604.879.6400

On 2nd and Quebec

#2203

BALCONY

1775 Quebec St. 2 Bedroom + Den $528,800

LIVING MASTER BEDROOM

W.I.C.

2ND BEDROOM

DINING

BATH W/D

ENSUITE

KITCHEN

DEN

Approx. Indoor: 730 sq.ft.

1 2 3

Sales center open Saturday - Thursday 12 pm - 5pm 604.876.7332 opsalliving.com

6

10 ft.

N 02 03

01

04 07 06

05

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.

IN THE NEWS

CMHC HOUSE PRICE ANALYSIS

Good news for Canada’s major markets RESULTS FROM CANADA MORTGAGE AND HOUSING

Corporation’s (CMHC) House Price Analysis and Assessment (HPAA) framework were released today indicating that overall, housing markets in Canada remain broadly consistent with underlying demographic and economic factors such as employment and interest rates. Nevertheless, a modest amount of overvaluation is observed, meaning that house prices are slightly higher than what the underlying factors would suggest.

“CMHC is committed to expanding the availability of information about Canada’s housing markets. This knowledge will ultimately contribute to a stronger housing finance system,” said Evan Siddall, President and Chief Executive Officer of CMHC. “The HPAA adds to CMHC’s efforts to identify, and where appropriate, fill significant data and information gaps.”

The HPAA adds to CMHC’s efforts to identify, and where appropriate, fill significant data and information gaps.

The HPAA is a comprehensive framework that is designed to assess housing market conditions by taking into consideration the economic, financial and demographic drivers of housing markets. The use of multiple indicators of housing conditions, which incorporate various data sources and prices measures, provides a robust picture of overall housing market conditions. The results released today include those for the national market as well as 8 Census Metropolitan Areas (CMAs) — Vancouver, Calgary, Edmonton, Toronto, Ottawa, Montreal, Québec and Halifax.

“At the national level, other than a modest amount of overvaluation, we do not detect the presence of other risk factors such as overheating, price acceleration, and overbuilding,” said Bob Dugan, CMHC’s Chief Economist.

“Risk of overvaluation is most evident in Montreal and Quebec, but the trend is improving. A modest risk of overvaluation is also present in Toronto, Calgary and Halifax.

36 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

Across the 8 CMAs examined, there is no overheating or acceleration.”

“There is however a cautionary note with respect to overbuilding in Toronto and Montreal. The number of units under construction is elevated in these centres.

This could develop into overbuilding if these units are completed but not sold.

To mitigate this risk, builders will need to hit the appropriate balance in channeling new demand between units that are currently under construction but not sold and units that are in the planning stage,” noted Mr. Dugan.

This is the first phase of information being released as part of the HPAA Framework. Additional, market-specific analysis will be released as available, with future reporting taking place on a semi-annual basis starting in Q1 and Q3 of 2015. Updates will also be available as part of CMHC’s Housing Market Outlook which will be published in Q2 and Q4 in 2015.

As Canada’s authority on housing, CMHC continually works to increase the amount of available data and analysis on the housing market.

CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Follow CMHC on Twitter @CMHC_ca.

IT’S NOT TOO LATE TO...

DISCOVER BC’s BUILDERS, DEVELOPERS AND COMMUNITIES - ONE STORY AT A TIME

2014 BuildersAnnual.com

BUILDER & DEVELOPER

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

EVERYTHING YOU NEED TO KNOW ABOUT

Metro Vancouver’s top builders and developers

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

Insider Insights: Buying advice from those in the know Metro Vancouver’s HOUSING TRENDS

NewHomeGuide.ca 2014 BC Annual cover FINAL.indd 1

2014-04-07 3:47 PM

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 37

CONDO PROFILE

APERTURE Living Light // BY SUSAN M BOYCE

R

eady, set, time to develop a new focus for your lifestyle. Say hello to Aperture — a dramatic combination of glass and concrete construction, wood accents, and sheer innovation that’s taking Vancouver’s Cambie Corridor neighbourhood by storm.

To be located on 41st Avenue directly across from Oakridge Centre, Aperture’s architectural style is fresh and dramatic. Glass walls, framed by panels of richly-grained mahogany laminated between sheets of high-performance glass, appear to float in the multi-facetted façade. Pop-outs create large, private balconies and a distinctly playful yet future-looking character. No question this building is one-of-a-kind.

Celebrate Your Home

Inside, Aperture floor plans turn the traditional configuration sideways – literally. “By designing these homes wide and shallow rather than narrow and deep, you get more windows and more natural light — a big thing especially in the darker winter months,” explains Arno Matis, owner of Arno Matis Architecture.

The results are sleek, sundrenched homes with über-modern finishings that include a full Miele appliance package. Yes, every single kitchen appliance is Miele — heaven. Then there’s the stone counters, nine-foot ceilings, lavish ensuites, hardwood laminate throughout main living areas and even air conditioning. In other words: maximum comfort.

Environmental Stewardship

All this, and Aperture is eco-savvy too. “Part of the City of Vancouver’s development plan for the Cambie Corridor was that every building must meet LEED gold standards,” Arno says. But rather than high-tech, high-maintenance solutions, he chose a more organic approach.

Intriguing and beautiful as it is, Aperture’s exterior is purposefully designed to interact with its specific location. “Think about the way you change the aperture on a camera to compensate for changing 38 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

“MORE WINDOWS AND MORE NATURAL LIGHT — A BIG THING ESPECIALLY IN THE DARKER WINTER MONTHS.” ARNO MATIS light,” Arno explains. “On the south side, frames are deeper to provide more shade. On the north, where there’s less sunshine, apertures are larger and shallower. And on the east and west, they’re placed to reduce morning and afternoon glare when the sun hugs the horizon.”

Outdoor spaces are created to introduce a calming tranquility — starting from the moment you arrive home. Above the parkade entry, a terraced waterfall dances and sparkles amid the surrounding greenery.

Rooftop gardens create an urban oasis where owners can grow flowers, herbs or veggies — fresh salad just got redefined.

Aperture offers just 74 apartment homes ranging from one- to three-bedrooms plus four exclusive villa townhomes. Prices start at $450,000. Aperture will be located at 795 West 41st Avenue in Vancouver. Presentation centre now open during regular mall hours at Oakridge Centre (Cambie and 41st Avenue at the south entrance next to St Germain’s Bakery) in Vancouver. For more information visit apertureliving.com or call 604.616.7008.

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

TO ADVERTISE CALL 604.519.6080 [ 4-WEEK ISSUE ]

Dec 12, 2014 - Jan 09, 2015 Volume 22 Issue 25

Dec 12, 2014 - Jan 9, 2015 Volume 04 Issue 25

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Register now for Pre-Completion Pricing: www.newportliving.ca

MOVE IN TODAY TWO BEDROOMS FROM $219,900

碧 INSIDE THIS ISSUE

FLASHBACK ON THE YEAR THAT WAS 2014

FLOOR FASHION: THE MAGIC CARPET GUIDE

SINGLE-FAMILY LIVING IS WITHIN REACH

海

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INSIDE THIS ISSUE

灣 FLASHBACK ON THE YEAR THAT WAS 2014

BUYING AND MORTGAGING A MICRO-CONDO

FREE METRO VANCOUVER EDITION

November 21, 2014 Volume 22 Issue 12

Metro Vancouver Edition

STAYING ON BUDGET THIS HOLIDAY

DEC 2014 - JAN 2015 VOLUME 13 ISSUE 6

www.homedecorandrenovations.com

RentersGuide.ca

VIEW US ON ANY DEVICE

Home Idol:

HAPPY CONTRACTORS AND HOMEOWNERS ARE SAVING UP TO 70% AT THIS GROWING HOME BUILDING COMPANY

NEWPORT MARKETING GROUP

Developed by:

LLW Holdings Ltd

NORTHSTAR REALTY

N W

E S

Buena Vista Ave.,

Marine

Finlay St.,

Marketing by:

Johnston Rd.,

FIND US MORE FOR EVEN TINGS GREAT LIS

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• ATLANTIC CANADA • CALGARY • EDMONTON • MONTREAL • VANCOUVER • WINNIPEG 40 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

VANCOUVER

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 41

BUYER PROFILE

Hot Design: Cool Neighbourhood

PETER FINDS FRAMEWORK // BY SUSAN M BOYCE

PICTURED

Peter is happiest when he’s out cruising on two wheels…whether they have a motor or not.

IT’S OFFICIAL. WALKING IS GOOD FOR YOUR HEALTH, HAPPINESS, and in the case of one Vancouverite, it’s a great way to invest in his future too.

A long-time resident of Mount Pleasant, Peter was always drawn to Chinatown’s unique energy and vibe — a neighbourhood he walks through regularly on his way to work as art director for a Gastown marketing agency. So when he spotted the newly opened Framework presentation centre, Peter just had to take a closer look. It was love at first sight.

Style & Personality “I’d been in other showhomes but nothing had the same level of quality in the fixtures and finishings,” he says. “Concrete floors are my favourite. And when you add in the white kitchen… I knew this was what I wanted. It’s definitely going to be worth the wait till it’s finished.”

An avid art collector, Peter says one of the things he’s most looking forward to is having space to showcase some of his favourite pieces. “I have many friends who are artists and my sister is a photographer, so I have a lot of art.” He laughs.

“My taste is pretty eclectic though. I have some great paintings and a huge Superman print. It’s going to be fantastic get them all hung on the walls.”

42 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

Concrete floors are my favourite. And when you add in the white kitchen…

I knew this was what I wanted.

Engaged Neighbourhood Although Peter says that lately he’s walking most places, his number one passion and hobby is “anything on two wheels.” So having a secure bike locker on each floor is definitely a bonus he appreciates. “When it comes to bikes, I have a bit of a collection,” he admits, adding that one of is favourites is a bamboo bike he built himself.

“I moved here from Calgary about seven years ago,” Peter says. “I rented out the condo I owned there for quite a while, but when I decided I wasn’t going back I sold it. Chinatown is such an exciting area to re-invest in, and Framework is going to put me smack in the middle of everything. There are so many cool restaurants and bars springing up here — Bao Bei is amazing and my favourite, but Bestie’s really good too. I think that in the next five or six years, this is going to the place to be.”

Framework is located at 231 East Pender Street. For more information visit porte.ca/framework or call 604.620.6223.

VANCOUVER

better design. bigger homes.

T H E N EW FR A M EWOR K FOR EAST SIDE UR BA N

studios from $273,900 1+ flex from $319,900 2 Beds from $449,900

231 PENDER

porte.ca/framework 604.620.6223

presentation centre & 1+ flex showhome: 626 main street

favourite features: • private storage on every floor • full size appliances & marble backsplash • parking included* open daily (closed friday) from noon – 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.

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 43

R IVE

KNIGHT ST

99 VANCOUVER INTERNATIONAL AIRPORT (YVR)

R DR

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

RICHMOND

DR BRIDGEPORT RD

NO 3 RD

CAMBIE RD

Westminster Hwy

g

ALDERBRIDGE WAY

LANSDOWNE PARK MALL

RICHMOND NATURE PARK

99

RICHMOND CENTRE

GRANVILLE AVE

NO 4 RD

GRANVILLE AVE

R DR

91

NO 6 RD

CAMBIE RD

NO 5 RD

R KE BA RU SS

NO 4 RD

WESTMINSTER HWY

RICHMOND NATURE PARK

Richmond Hwy

SHELL RD

GARDEN CITY RD

GRANT MCCONACHIE WAY ALDERBRIDGE WAY

R IVE

CAMBIE RD KNIGHT ST

ER

LANSDOWNE PARK MALL

RICHMOND CENTRE

NO 6 RD R IV

A5

GRANVILLE AVE

99

W AY

NO 3 RD

A2

NO 5 RD

GARDEN CITY RD

W AY R KE BA SS RU A3

WESTMINSTER HWY

CAMBIE RD

VANCOUVER INTERNATIONAL AIRPORT (YVR)

A4

SHELL RD

BRIDGEPORT RD GRANT MCCONACHIE WAY

Richmond Hwy

91

Westminster Hwy

GRANVILLE AVE

99

BLUNDELL RD

RD

ive r

NO 6 RD

se rR

ive r

Fr a

se rR BU

VE

R

17

RD

RO 47TH AD

A AVE

48TH AVE

53RD ST

OV E

41ST B ST

GR

U R DR

AC H

ER

R IV

W

A5. ELLE

A4. TEMPO

A6. THE GARDENS

6511 Buswell St ellerichmond.com

17

28TH AVE

ENGLISH BLUFF RD

Steveston Hwy & #5 Rd 604.271.3331 53RD ST

41ST B ST

5171 Brighouse Way 604.233.2633

56TH ST

28TH AVE

A3. RIVER GREEN

7720 Alderbridge Ave 604.276.8885

12TH AVE

6TH ST

6TH AVE

44 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

62ND B ST

W

U R DR

Oval Village 5640 Hollybridge Way 604.276.8683

RD

ARTH

A2. CADENCE BY CRESSEY

48TH AVE

ARTH

CE M ETE RY

ER

R IV

RI

Y WA BE

RICHMOND Presentation Centre No 3 Rd and Bennet 604.278.3939

B ST RI

W AY EL

NO 3 RD

N KSO

113 ST

SOUTH DE LTA PAR K

56 ST

53A ST 8A AVE

BOU N DARY BAY R EG IONAL PAR K

72 AVE

A1. HARMONY

BU

17

47TH A AVE

JAC

12 AVE

8A AVE

74 AVE

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THE MEGA MICRO-CONDO TREND

T Lydia McNutt is an award-winning writer and editor of New Condo Guide.

Lydia’s love of architecture, interior design and the written word have landed her happily at home at Wall2Wall Media, where real estate rules. Email Lydia.McNutt@wall2wallmedia.com, and follow her on Twitter @LydiasTweets

Some lenders have minimum size requirements on condos they will finance. Most likely their reasoning is because there are very few units under 400 sq. ft. that are actually in existence today, so they have no comparables to see what the units are worth on the resale market, and therefore they see them as risky.

here’s a big trend in home design, and it’s small – very small. Micro condos have long been popular in densely populated urban hotspots like New York, London and Tokyo, but the tiny abodes are just starting to break ground in Toronto – literally.

I recently attended the ground-breaking ceremony at Smart House, a first micro condo developed by Urban Capital and Malibu. Starting from 288 square feet, these small but sweet homes have everything you need to enjoy a comfortable and convenient urban lifestyle, and a smart place to put your money, according to condo investment expert Andrew la Fleur.

Condos measuring 500 square feet and less have become a growing trend since the introduction of the Harmonized Sales Tax in 2010, in an effort by condo developers to keep the price tag under the $450,000 threshold, la Fleur says.

Also contributing to the rising popularity of compact condos, developers (who are typically required to pre-sell 70 per cent of their units in order to qualify for financing on the project), are keeping suites small and prices low to attract investors and get the shovels in the ground that much faster.

But new trends bring new fears. For condo buyers considering a micro condo, “Some lenders have minimum size requirements on condos they will finance,” says la Fleur. “Most likely their reasoning is because there are very few units under 400 square feet that are actually in existence today, so they have no comparables to see what the units are worth on the resale market, and therefore they see them as risky.”

You can expect that to change dramatically in the coming year, as la Fleur references the 2,800 new “micro” units measuring less than 500 square feet that are coming on-stream just in the next 12 months alone. “Banks will have to change with the times, or they will lose huge market share to their competitors.”

According to la Fleur, who is not only in the business of selling condos to investors, but also owns four small studios as investments, these tiny abodes in good downtown locations are one of the safest investments you can make.

Why? » They are the easiest to rent out; » they provide the best cash flow; » they have the best price-to-rent ratio; and » they have the lowest vacancy rate.

The long and short of it? “Don’t believe the hype,” la Fleur says. “Studios are amazing investments and anyone who tells you they are not is most likely speaking from a ‘suburban bias.’”

46 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

INSIDE MORTGAGES

// BY KRIS GRASTY

LOOKING TO PURCHASE A CONDO IN A STRATA?

Tips to avoid common pitfalls

There is nothing wrong in looking around and initiating conversation with a Realtor in the sales office, as they should be quite knowledgeable about the current build status and features within the units. But having a Buyer’s Agent will cost you nothing yet you gain the benefit of a Realtor working in your corner and covering your best interests. For example, if you have a large SUV and the parking stall appointed at the vendor’s discretion has a large ventilation unit or obstruction it will be useless to you.

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

1

Work With Your Own Realtor!

The first and most common issue that I see is people only working with the Listing Realtor or the Realtor in the sales office of a new condo building. There should be no surprise here that the selling Realtor/Agent is working on the Seller’s behalf and even if they agree to work with you too, their end goal is to sell the unit.

But having a Buyer’s Agent will cost you nothing yet you gain the benefit of a Realtor working in your corner and covering your best interests.

2

Ensure Strata Documents are Readily Available On several occasions this year clients have put in a rush offer with a short four business day subject removal, yet the listing Realtor had not pre-ordered the strata documents, engineers reports and/or depreciation reports. These documents along with meeting minutes and insurance papers should be on hand and ready for review immediately on acceptance of your offer.

An expedited sale contract requires a quick mortgage broker and lender review that is difficult without these papers and reports. A rush order for strata docs can jump from a standard fee to over $150.00 if required this quickly. Before putting in an offer to purchase, your Realtor should ensure that the property documents are readily available for you immediately on acceptance of your offer.

3

Purchasers Need Time To Review Strata Documents Most importantly, you are the intended purchaser of this property. You should have ample time to review these documents while you are also working on booking your home inspection, re-negotiating your offer to purchase and ensuring that you have your financing in place. There is much to do in a short time.

This rush scenario with little time to review documents has caused people go into a binding contract only to realize that they have major repairs scheduled or that the strata is ill-funded.

4

Self-Managed or Poorly Managed Strata Better to find out early on and possibly before spending hundreds on a home inspection that the strata corp has failed to order a depreciation report, or that the contingency funds are not there to support the ongoing maintenance that your home will need. Lack of proper funds saved now equal special assessments and possibly large financial burdens in your future.

With a good Realtor and Mortgage Broker in your corner, you should have all of your documents ready up front and ensure that all personal and property information is readily available prior to setting a subject removal date. A quick file can be a breeze and you will be far less stressed when all is in hand ready to go!

48 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 51

DESIGNER ADVICE

THE MAGIC CARPET GUIDE // BY YANIC SIMARD // PHOTO BY BRANDON BARRE

AREA RUGS HAVE BEEN ADDING bold colour and exotic pattern to floors of all forms

since at least the 5th Century BC, and the high-tech carpet industry has been booming for centuries (since 1791, to be precise, when the first woven carpet mill opened in Philadelphia). Lately, hardwood floors (and their look-a-likes) have been the staple in condo design, but now I see rugs in all forms coming back in style to bring the warmth, cosiness and colour that only they can provide. They’re a perfect complement to wood, so you don’t even have to choose between the two!

To achieve a timeless look in your highrise home, here’s my “Magic Carpet” guide.

MAN VERSUS MACHINE

› Hand-knotting is the traditional method of creating Persian or Oriental rugs.

These rugs are hand crafted with complex knotting techniques to leave a dense, soft surface of exposed fibres. The higher the knot-count, the denser the weave, and the finer the rug. › Machine-made rugs can be created in a number of ways. Tufted rugs usually glue synthetic fibres to a backing, a bond which can degrade over time. Machineknotted rugs better simulate hand-made versions and tend to last longer than tufting. Lastly, woven rugs use looms to interlock the yarns to the backing. The quality will depend completely on the type of materials used.

52 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

MATERIAL MATTERS Wool typically gives the richest look,

but also comes with the highest price tag. The dense, natural fibres resist soil and dirt, but often absorb stains.

Silk is often blended with wool in fine rugs (especially true antiques) to give a luxurious feel and look, but must be treated delicately.

Sisal gives an inviting natural look like wool, but is rougher to the touch. It’s often used for stairs, welcome mats and other high-traffic areas. I’m particularly a fan of it for a dining room.

Nylon is a very practical and costeffective option. The synthetic fibre is resilient, and easy to clean and maintain (making it ideal for hightraffic areas).

Polyester is a synthetic similar to nylon, but less crush resistant, and harder to dye (which limits options). It resists water-based stains but is prone to oil-based stains.

Olefin is another synthetic option which is highly resistant to chemical stains (although not oil). It is often

in the middle. Get a size big enough to at least tuck under the front legs of sofas and chairs. › A dining room rug should anchor the dining chairs even when they have people sitting in them (usually about two ft. from the edge of the table). › Rugs tend to come in standard sizes, so you can measure your space in advance and have a pretty good idea of what to look for. Very common: 4’x6’, 5’x7’,6’x9’, 8’x10’, 9’x12’, 12’x14’.

CARPET TILES

used outdoors (especially around pools) as it resists sun and moisture.

Leather and hide rugs can come as single sheets or woven (typically in a basketweave form). An organically shaped hide (real or faux) works well for awkwardly shaped rooms, or even as an accent layered over a larger rug.

TIP Ask your rug supplier about treatment options for your favourite rug type.

Scotch guarding and similar treatments can increase the durability of your rug, but may also reduce the quality of the texture.

YOUR BRAND NEW PAD

› Carpet pads are key to extending the life of your rug or carpet, so don’t skip this step. For larger areas, padding should be laid so the seams do not run parallel to any seams in the carpeting. This will prevent buckling and undue wear and tear. › A pad also helps a carpet to lie flatter (especially for larger rugs), and stay in place, so if your rug has a mind of its own, it’s probably only because it doesn’t have the proper support!

› If you want to avoid investing in some temporary accommodations, or you’re simply worried about a sudden spill or animal attack taking the value out of a good investment, carpet tiles from companies like FLOR will create either a wall-to-wall or area solution of virtually any shape and size, which you can then replace any time you like.

I have the Hide and Batik tiles in my own design studio (in grey). › I recommend buying a few extra carpet tiles beyond what you need.

You’ll have spares for replacements, and if you want to move the rug to a new room (or a new home) you can size it up easily.

SELECTING YOUR AREA RUG

The look of an area rug is both classic and contemporary, mixing the crisp sleekness of a wood or stone floor below, with a warm and inviting stretch of carpet on top. Of course, this can often require a double investment. I believe getting the best of both worlds is worth it, so here are a few tips for choosing your area rug the right way: › As a general rule, budget the same for your rug and your sofa. Both will take a lot of wear and be a feature you enjoy every day, so the investment should be about the same. › Area rugs are a great way to bring a splash of colour, pattern and texture, which can be moved or replaced seasonally as a way to keep your decor fresh. Don’t be scared to go bold, as you can always move or temporarily store it later for a change. › If a room has one major seating group, a rug can anchor the seating area, or fill almost the whole room. › Your area rug should reach the furniture it’s grouping together, rather than float

YANIC SIMARD is New Condo Guide’s design editor, principal designer of award-winning Toronto Interior Design Group (tidg.ca), and regular guest expert on City’s Cityline. Check out Yanic’s accessory line, Yanic Simard Selected, by visiting online at ysselected.com

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 53

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54 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

HARRIS RD

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 55

MORTGAGE ADVICE

// BY ALYSSA RICHARD

Size matters when it comes to

S

Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

MORTGAGING MICRO CONDOS

ize does matter, apparently, when it comes to micro condos – specifically, when it comes to mortgaging one of these mini units. Popular in densely populated cities in Japan, and even in New York, these units that measure 500 sq. ft. or less are slowly growing market share in Canada.

A micro condo with a mini mortgage may appeal to some buyers, notably young professionals who want to live in the downtown core. Bankers, on the other hand, see the issue a little differently. Lenders such as Scotiabank and TD reportedly have policies that restrict mortgages for units of less than 600 sq. ft.

“Lenders are hesitant about these units, as many are not familiar with this type of asset,” says James Laird of CanWise Financial. “They continue to look at the asset and assess each (application) on a case-by-case analysis. For example, if it is a project that has sold out – or is near to selling out – and in a good part of the city, lenders will be more inclined to finance it.”

“If a buyer walks into some banks and just asks for a mortgage on a micro condo, without knowing these individual restrictions, they could be denied straight away,” says Laird. “Only an experienced mortgage broker will know which lenders are more open to lending on these units.”

As these condos become more popular, lenders are likely to relax their restrictions, Laird says. The industry is trending in the direction of smaller unit sizes, to address buyer demands for more affordable options. Smaller units mean lower prices.

“Ten years ago, the average size of a condo was 800 to 900 sq. ft.

Five years ago, the average was 500 to 800 sq. ft. But now those same units cost between $650,000 and $700,000 (in Toronto),” says Roy Bhandari from TalkCondo, a realty firm specializing in pre-construction condos. “Not everyone can afford this size of unit, so developers started building condos to match the budgets and lifestyles of new buyers.”

Developers are also being creative with their designs, Bhandari says. Micro condos typically offer features that maximize space, such as built-in closets and integrated appliances like a combination washer and dryer.

With some micro condos starting at just $220,000, the price tag appeals to young buyers. Many of them prefer location and proximity to amenities over space. Smaller units also mean lower condo fees, further addressing the affordability concern.

“These smaller units are not a passing trend,” says Bhandari, adding that they may soon become the ‘norm’ in major Canadian cities. Consumer demand, then, may cause more lenders to loosen their financing restrictions on micro condos.

56 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

COQUITLAM/PORT COQUITLAM/PORT MOODY

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 57

IN THE NEWS

REBGV

REPORT FOR NOVEMBER

Metro Vancouver home sales remain strong remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 per cent increase compared to the 2,321 sales in November 2013, and a 17.7 per cent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 per cent above the 10-year sales average for November.

“It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November.

This represents a 7.1 per cent decrease compared to the 3,245 new listings in November 2013 and a 32.8 per cent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

HOME BUYERS IN METRO VANCOUVER

Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.

58 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 cent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012.

The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

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DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 59

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60 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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SP NO LAY W HO OP M EN E

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ONLY 13 HOMES REMAIN Reap the rewards of investing into the Burquitlam corridor. Located just a few blocks from the future Burquitlam SkyTrain station, it’s no secret that this area is expected to follow in the same price trends as Metrotown and Brentwood. Since the opening of the Millennium line in 2002, housing prices have doubled in these areas*! You don’t want to miss out on an opportunity like this. Invest into your future with a home that’s central, stylish and smart.

Prices and incentives are subject to change or be withdrawn without notice. Data is derived from MLS and reflects the average price of condominiums within .5KM of the two selected SkyTrain stations. See a sales representative for details. E.&O.E. Sales and Marketing provided by Fifth Avenue Real Estate Marketing Ltd. www.fifthave.ca

y Hw d ee Lo ug h

Como Lake Dr.

STUDIO, ONE AND TWO BEDROOM CONDOS FROM $199,900.

North Rd.

Display Home Open Daily (Closed Fridays) 12PM – 5PM on-site at 630 Como Lake Drive.

604-936-0336 Holiday Closure Dec 19 - Jan 3

COMOLIVING.COM

TAXING ISSUES

// BY HENRY CHOO CHONG

ALL ABOUT ASSIGNMENT AGREEMENTS Q

Henry Choo Chong is a certified general accountant. He 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

The opinions and views expressed herein are those of the author and not those of New Condo Guide. New Condo Guide does not necessarily endorse or encourage any specific tax strategies.

Please consult a tax professional for advice specific to your particular situation.

In April 2012, I purchased a new condo from a builder. The closing date is August 2015. This was purchased as an investment property that I plan to rent to a tenant. However, I have a potential purchaser who is willing to close with the builder in January. I can make a handsome profit. Will this be taxable if I sell to this new buyer before my closing date?

Karim, Toronto

A

The past several years have made many Torontonians richer from investing in and “flipping” newly constructed homes and condos. (When you sell your condo before you close, it’s referred to as “assignment.”) If this trend will continue is anyone’s guess.

Torontonians continue to thirst for new condos from evidence of all the new condo complexes in the making. Most condo prices start in the lower $300,000 range for first-time buyers, but there is plenty of product for the luxury market as well. Even foreign buyers are getting in on the action.

An assignment of Purchase and Sale Agreement that’s greater than the original purchase price will carry income tax consequences. For tax purposes, a sale price greater than your cost will attract capital gains tax. Fifty per cent is taxable at your personal marginal tax rate. Additionally, investors should be cognizant of tax, builder and Tarion issues related to assignment: ›› Many builders do not allow an assignment prior to you taking possession.

Some builders may allow for it, provided they give written permission with a fee. Others may waive the fee. Check with your builder before assigning. ›› Builders may not be obligated to close with a new purchaser and therefore you could incur additional costs such as land transfer tax and additional legal fees.

Again, it is important to have some correspondence with the builder to be clear on what their policy is on this type of transaction. ›› Purchasers who use a new home as their principal residence may assign the tax rebate to builder, who in turn claims it. Investors cannot assign the new homebuyer’s tax rebate to the builder and therefore may have to fork over additional tax at closing. However, investors can claim a rental tax rebate, provided they satisfy the requirements for such.

Consult an accountant and a real estate lawyer who can best advise you on your specific situation.

62 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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

BARNET MARINE PARK

INL ET

R

AR

SQUINT LAKE PARK

U

DI

ROYAL OAK AVE

WILLINGDON AVE

WA Y

B2. PARKSIDE AT VICTORIA HILL

AR

GL GA

D

AY IW

A10

A6

LOUGHEED MALL

BURNABY LAKE REGIONAL PARK

DEER LAKE

D

NELSON AVE

ROYAL OAK AVE

DE

AR EW

B3. DOMINION 500 Royal Ave 604.525.8980

B4. VICEROY

DS

ON

Y WA

E AVB3

L YA B8 B1 RO

210 Salter St 604.520.9890

B6. GLASS HOUSE 220 Salter St 604.520.9890

B7. TRAPP & HOLBROOK 702 Columbia St 604.525.0223

B8. RIVERSKY

659 Columbia St 604-522-2583

B7

ST

R

DUNCAN ST

E WAY YD BO

ST

BOUNDARY RD

A6. NOVELLA

AY TW

A3. AVIARA

EN

A5. BRENTWOOD

E AV

RW

A2. REDBRICK

5021 Kingsway 604.456.0688

EN

EW

DE

A1. STORYBROOK

A4. MODELLO

Griffiths Dr & 14th Ave 604.527.7955

RI

ST

D

CB

H

E

ST

DR

MAR IN

IN

QUEEN’S PARK

H

8T

S

M

AR

M

B4

10

TH

MARIN E WA Y

ST

E AV

B2

6T

FI SOUTHRIDGE DR

E AV

6

IF

DR

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TH

H

8T

BRAID ST

E AV

AN

H

8T

A1 A2

E AV

RL

1

IMPERIAL ST

MAR IN E

7173 Stride Ave 604.528.8906

BE

P

TH

10

M

IM

E AV

AY W

IMPERIAL ST

WA Y

H 6T

A AD

GS

AL

I ER

ST

N CA

KI N

D ST

CU

OAKL AN

BURNABY

295 Francis Way (Royal Ave & McBride) 604.523.0733

B5. DUO

AD AW AY

A4

PATTERSON AVE

E

608 Belmont St 604.522.2583

DEER LAKE PARK

METROTOWN

1710 Gilmore Avenue 604.291.9130

DR

ITY

AUSTIN AVE

GILLEY AVE

BOUNDARY RD

SPROTT ST

GR

SE MARINE DR

RS

Lougheed Hwy

CA N

A7 49TH AVE

E N IV

RD

ED

GA GL

KE

EYS TON

AR

GR

BROADWAY

CENTRAL PARK

18 Begbie Street 604.523.0081

SFU

BURNABY MOUNTAIN GOLF COURSE

BCIT

B1. NORTHBANK

W

NORTH RD CL

BRENTWOOD MALL

UN IVE RSITY DR

CLIFF AVE

A5

Barnet Hwy

A8 A9

SPERLING AVE

HOLDOM AVE

WILLINGDON AVE

HASTINGS ST

A3

BURNABY MOUNTAIN PARK

DR

CONFEDERATION PARK

theamazingbrentwood.com 604.563.8386

170 - 3355 North Rd 604.563.5777

64 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

A7. STATION SQUARE

A9. LIFT

A8. ALTITUDE

A10. CROWN

4670 Assemble Way stationsquare.ca

89955 University High Street 604.456.8883

9350 University High Street, 604.320.3386 Presentation Centre #104 - 552 Clarke Rd 604.939.8868

BURNABY/NEW WESTMINSTER

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 65

MONEY MATTERS

// BY GAIL VAZ-OXLADE

HOLIDAY SHOPPING

T Gail Vaz-Oxlade is the host of Til Debt Do Us Part and author of Debt Free Forever, and she blogs daily at gailvazoxlade.com.

Follow Gail on Twitter at Twitter.com/GailVazOxlade

without the hangover

he holidays are just around the corner and only the most savvy of us have everything under control.

That’s one of the problems with our very busy lives… there’s just no time.

But if you want to have a happy holiday that doesn’t leave you holding your aching head when the bills roll in come January, you have to start planning early. The longer you wait, the more you’re prone to give in to stress, make impulse purchases, blow your budget or even buy a lame gift.

Look at your holiday spending as you would any other big-ticket item. While you’re splitting the cost among a variety of expenses, the bottom line is still the same – you’re spending a lot of money in a short period of time.

In the best of all worlds, you would have started saving for your holiday spending in January. Yes, you would have made it a budget item and set aside $10, $50, $150 a month so when the season rolled ‘round, you’d be ready. After all, it’s way easier to set aside $100 a month than to come up with $1,200 all at once.

This is how I do it, and come August I

start keeping my eyes open for “deals” on things I know my friends and family will love.

If you can’t do that, start here, with this “holiday spending plan”:

›› Write down the amount you want to spend in each category of holiday expenses. Gifts are only the beginning – don’t forget to account for travel costs, postage and shipping, decorating, greeting cards, entertainment and photos. ›› List the people you plan to shop for under the gift category, then divide up your budget accordingly. Limit your budget to what you can afford right now and avoid a financial hangover in the new year. If you spend $500 on a credit card at 18 per cent interest, and pay the minimum each month, it will take you seven years – and cost $365 in interest – to pay it off.

Consider setting a dollar limit on gifts or drawing names among extended family, roommates or co-workers. ›› Jot down any gift ideas that you might have for the people on your list.

Jot down any gift ideas that you might have for the people on your list. Comparison-shop online before heading to the store. (Don’t forget to include shipping costs in your calculations if you decide to buy online.)

66

Comparison-shop online before heading to the store. (Don’t forget to include shipping costs in your calculations if you decide to buy online.)

A dash of planning and a dab of creativity can also help you keep your entertainment costs under control:

›› Invite guests to bring something to share at a potluck dinner. ›› Serve brunch, throw a finger-food party or host a wine and cheese tasting instead of a full-blown turkey dinner. ›› Co-host a party with a pal or sibling, and share the cost. ›› Make sure you set a dollar limit for your soirée. And list the items, ingredients and décor you’ll need and how much each will cost. ›› Remember, that the best gifts don’t have to cost money. If you’re financially challenged this year, offer up your time baby-sitting, cooking meals, house cleaning, massaging, sewing, knitting, transporting, or whatever else you’re good at. Clip a picture of the service you’ll provide and be clear on how often, as in “I’ll baby-sit one weekend a month from February to June.” Or better yet, make your own coupon book.

Look at your holiday spending as you would any other big-ticket item. While you’re splitting the cost among a variety of expenses, the bottom line is still the same – you’re spending a lot of money in a short period of time.

There now, you don’t have to worry about starting the new year with a financial hangover. Happy holidays!

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 67

FREE METRO VANCOUVER EDITION

DEC 2014 - JAN 2015 VOLUME 13 ISSUE 6

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68 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

Sustainability AND THE

“Passive House”

DEC 2014 / JAN 2015 ISSUE on stands now!

GSW AY

PRESENTATION CENTRE

NELSON AVE

T

MARLBOROUGH AVE

KIN

BER ESF OR DS

ROYAL OAK AVE

WIL LIN GD ON A

VE

BURNABY/NEW WESTMINSTER

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 69

YOUNG RD

GRAND STREE

CE DAR STR

WREN STREET

ABBOTSFOR D | M ISSION | CHILLIWACK

I NS

1ST AVE 2ND AVE 3RD AVE 4TH AVE CHEAM AVE 5TH AVE

AVE

MA SW AY

RD

SOUTH FRASE R WAY

RN

MC

SUMAS WAY

B ROADWAY ST RD

LUCKAKUCK WAY

ER

ABBOTSFORD INTERNATIONAL AIRPORT

EVANS RD

COTTONWOOD MALL

MCCALLUM RD

CLEARB ROOK RD

KING RD

PRAIRIE CEN

R IV

TOWNLINE RD

D NR

DW

CK IWA I LL

MA

ER YAL

CH

LE H

RD

MT

LE YA

MARSHALL RD

MARSHALL RD

RD

CHILLIWACK MUNICIPAL AIRPORT

LD

BEVAN AVE A2

ORT

AIR P

AIRPORT RD

O

SIMPSON RD

A3

BROOKS AVE

KE E

D G RR D UN M YOTCO A WH

A1

MISSION

YOUNG RD

YB U CLA

E

A3

OLD

D

SU

DE

CHILLIWACK CENTRAL RD

YA LE R

D

MCMILLIAN RD

MACL URE R

Hwy 11

GLADWIN RD

Lougheed Hwy

Lougheed Hwy

WHATCOM RD

FRASER CRESENT

CLEARBROOK PARK

CHARLES ST ROAD SLAVE LAKE

DG

R LE YA

MURRAY STREET

DA R

HO

CE

OLD YALE

E UR CL MA

HWCLEARBR Y 11 OOK RD

TOWNLINE RD

MT LEHMAN RD

WREN STREET

VA LL EY

CO

NN

GRAND STREET

EC TO R

7TH AVE KINSMEN EAST PARK

KNIGHT RD

HUNTINGDON RD

ABBOTSFORD

ABBOTSFORD A1. ABACUS

2565 Campbell Ave 604.309.7155

HIGGINSON RD

A2. MAHOGANY

STEVENSON RD

A3. HUDSON’S LOFT

S SUMAS RD

3068 Gladwin Rd 604.864.8948

VE DDER RD

WATSON RD

THOMAS RD

WATSON GLEN PARK

WEBSTE R RD

KEITH WILSON RD

70 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

C H ILLIWAC K

PROMONTORY RD

2180 Gladwin Rd 778.255.9990

ABBOTSFORD/MISSION/CHILLIWACK

A NEW

POINT OF VIEW

PRICES FROM

$254,900

LAST CHANCE TO CUSTOMIZE!

Occupancy: 2016

• Spectacular views! 26 storey luxury condominium high-rise across from Mill Lake Park • Commercial/office space floors 1-3 including coffee shop and pharmacy on ground floor • Top quality finishings and resort-style amenities • Environmentally friendly geothermal heating and cooling • 5 minute walk to schools, hospital, buses, shops and services • 10 minute drive to the University of the Fraser Valley and Abbotsford International Airport

Presentation Centre

2180 Gladwin Road, Abbotsford, BC 778.255.9990 MahoganyCondos.com

HOLIDAY HOURS:

Dec. 1 - 14 Open Daily Noon - 5 PM (except Fridays) Dec. 15 - Jan. 9 Open Saturday & Sunday Noon - 5 PM Beginning Jan. 10 Open Daily Noon - 5 PM (except Fridays)

Quantum Properties, a British Columbia company, has been developing properties and constructing multi-family residential and commercial buildings since 2000. The Quantum Properties Group of Companies includes Quantum Realty and Quantum Properties Construction.

quantumproperties.ca

Marketed by Quantum Realty Inc. Managed by the Quantum Properties Group of Companies. This is not an offering for sale. Any such offering may only be made by disclosure statement. E. & O. E.

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 71

CONDO PRO

// BY BARBARA LAWLOR

UNDERSTANDING CONDO FEES

Barbara Lawlor is president of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condominium developments in Canada and overseas.

C

ondominium ownership differs from lowrise homes in many ways, especially where fees are concerned. Those entering into condo ownership for the first time will do well to understand exactly what thesecosts are, and what they cover.

One of the most misunderstood expenses is the interim occupancy fee.

When your lowrise home closes and you move in, you officially own it. With a condominium, depending on when in the sales/construction process you purchase, you will most likely enjoy occupancy long before you receive the title to your suite.

Unless you move in after the condo is registered, you do not own your suite outright. You enter into what is referred to as “interim occupancy.” This is the gap between the occupancy date given to you once roof-topping has occurred,

and when the condominium is registered and you receive title. Until that time, the suite is still owned by the vendor.

A “condominium” is not formed until it is completed and passes the approval processes that enable it to be registered with the Land Registry Office. In highrise condos, the lower floors are finished long before the upper levels, but the approvals process begins once the first suite is occupied. It typically takes up to six months, although sometimes it can be quicker. During this time, you will pay an occupancy fee to the developer.

This fee encompasses three elements. First, it is determined by the interest portion of the balance owing on the purchase price (usually payable on the registration date) based on a one-year mortgage rate of the Bank of Canada. Second, it includes the estimated maintenance fees for the suite, and third, its portion of the estimated real estate taxes. There are also other fees such as the enrollment of your suite with Home Warranty.

You may think of this as rent, but it is not considered rent, and it is not money that can be applied toward your mortgage. Once the title is transferred, you take out your mortgage and the builder/developer receives the money. The benefit to the suite owners is that you get to move in more quickly and not have to wait until registration. You have a substantial amount of notice before your occupancy date.

Remember that during interim occupancy, you must have your homeowner’s insurance in place, and you have to arrange for utility hook-ups as if you own the home. Your appliance warranties kick in upon occupancy because you are actually using them.

Keep in mind that your maintenance fee dollars provide a lot of value. For one thing, they enable exterior and interior elements to be kept looking beautiful and in good repair. To be fair, consider what you would have to spend to receive the same service in a lowrise home. Many condominiums today offer 24/7 concierge service, and these professionals have to be paid. Those who choose to add a security system to their lowrise home pay a monthly fee for monitoring. In a lowrise home, chores such as mowing the lawn, weeding the garden and washing the outside windows have to be done by someone, and hiring professionals is an expense.

In addition, the ongoing cleaning and maintenance of things like condominium elevators, the lobby and hallways are covered by your fees. A portion also goes toward the “reserve fund,” which is administered by the condominium board. This fund ensures that essential services can be paid for in the future, should unexpected problems arise after your warranty coverage is over.

In some condominiums, a percentage of maintenance fees covers utilities.

Nowadays, many condos provide individual hydro and water metering per suite, which means that buyers pay only for what they use. The important thing is to ask questions about the fees that are expected of you and what they cover, and then make your condo purchase decision accordingly. An educated shopper makes a happier owner.

72 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

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To book your advertising, please call 604-519-6080. Free translation provided.

RO SS RD

NM

Sky H

wy

R VE GO TR

Sea To

EN D

NORTH SHORE | SQUAMISH | WHISTLER DEPOT RD

DR ORO

UG H

LONSDALE AVE

DR NS

CHEAKAMUS WAY

1a MARINE DR

GA

A12MARINE DRA10

RI

BOULEVARD

I LD

BA E

D

N

ND LA GH HI

MAMQUAM RD

STANLEY PARK y

a

Se

VE R GO

NM

E NT

To

Sk

y

w

H

RD

LOGGERS LN

QU E E NS WAY

RAVEN DR

A4. X61

1061 Marine Dr. x61living.com

A5. 15 WEST

15th just off CH E Lonsdale RR 604.980.9949 Y DR

SQUAMISH

B UC KLEY

UD TEA PLA

AVE

R

DA VE DA VE

VE YA WA AV ST UT WE E N T AV ES CK CH LO M R HE DD OR ILF GU

VAL LEY

DR

2N

3R

A8

KEITH RD E

A3

E L R D MAI N LEVE ST LOW

A9. THE SHORE

2135 Heritage Park Lane 604.988.0022

99

DR

LYNN CANYON PARK

MT SEYMOUR PKY

A2. REMIX

A3. LODEN GREEN ROBIN DR

KE

SEABUS

N

A7

A8. THE ANCHOR

#103 - 735 West 15th St 604.924.4488

FINCH DR

AR

KEITH RD W

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

BRENNAN PA R K

CL

A9

A5

A1

N LY

RD

rton

Dolla

NORTH SHORE

CENTENNIAL WAY

MAGEE ST

A2

A4

S

W AY

S

Y WA KI

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A13 R

A11

Mountain Hwy

TH B

MATHERS AVE

EY LL A V

SD AL EA VE

DR

LIGHTHOUSE PARK

DEMPSAY RD

LO N

INE

DALE R D

PERTH DR

MAR

CH IPPE N

CAPILANO RIVER REGIONAL PARK

STE VE

ESS

RD

SOU

R CYP

L BOW

TANTALUS RD

CYPRESS FALLS PARK

15TH ST

NELSON CANYON PARK

LYNN HEADWATERS REGIONAL PARK

21ST ST

DR

25TH ST

RUN

CYPRESS BOWL RD

EAG LE

NORTH SHORE CYPRESS

74 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

A6. DESTINY 2

590 Raven Woods Dr 604.929.1915

A7. CENTERVIEW

1308 Lonsdale Ave 604.988.8540

131 E 3rd St 604.988.8800

Presentation Centre 238 Fell Ave 604.980.0016

A10. HEYWOOD ON THE PARK 1621 Hamilton Ave 604.985.0003

A11. MILL HOUSE

1268D Lynn Valley Rd 604.986.0007

A12. TATLOW

Marine Drive and Tatlow Ave 604.971.0733

A13. THE AVE BOUTIQUE RESIDENCES Pemberton Ave and 16th St 778.985.4767

Hwy

NORTH SHORE/SQUAMISH/WHISTLER

BOUTIQUE RESIDENCES NORTH SHORE

COMING SOON ! estimated completion January 2015

REGISTER NOW:

www.theaveliving.com

16th Street W. 15th Street W.

Pemberton Avenue

The Ave is an exclusive collection of spacious modern homes with luxurious living Marine Drive

778.985.4767

built into every detail. Homes range in size from 1 bedroom with a workstation to 2 bedrooms and a den. The boutique residences are located in the heart of the new Marine Drive neighborhood – a vibrant hub on the North Shore.

Developed By

Built By

Marketed By

VENTURES INC.

Disclaimer

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.

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 75

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere!

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

NEWCONDOGUIDE.COM Published by

76 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

HOMEBUYERS’ HELP

condo buyers’

resource section

YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Calculate your mortgage payments using the mortgage payment calculation chart

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 77

HOMEBUYERS’ HELP

Calculate your mortgage payments interest rate

amortization period

chart figure

mortgage amount ÷ 1,000

monthly payment

EXAMPLE: 5%

25 YEARS

5.82

125 (mortgage amount $125,000)

$

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly before-tax income of you and your spouse.

02 Divide by three. This figure is the monthly payment you can afford to make on your condo.

03 Take the total price of the condo and subtract the amount of money you expect to make as a down payment.

This is the money you will have to borrow.

04 Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)

05 Multiply this figure by the amount you need to borrow.

Divide by 1,000.

78 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

06 Add to this your estimated monthly heating costs and monthly property taxes.

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

Bear in mind that this is a rough estimate.

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

Mortgage payment calculation chart

%

INTEREST RATES

Amortization Periods 10 YEARS

15 YEARS

3.00%

9.65

6.90

3.25%

9.76

7.02

3.50%

9.88

3.75%

9.99

20 YEARS

25 YEARS

30 YEARS

5.54

4.73

4.21

5.66

4.86

4.34

7.14

5.79

4.99

4.48

7.26

5.91

5.13

4.61

4.00%

10.11

7.38

6.04

5.26

4.76

4.25%

10.23

7.50

6.17

5.40

4.90 5.04

4.50%

10.34

7.63

6.30

5.53

4.75%

10.46

7.75

6.44

5.67

5.19

5.00%

10.58

7.88

6.57

5.82

5.34

5.25%

10.70

8.01

6.74

5.96

5.49

5.50%

10.82

8.14

6.85

6.10

5.64

5.75%

10.94

8.27

6.98

6.25

5.79

6.00%

11.07

8.40

7.12

6.40

5.95

6.25%

11.19

8.53

7.26

6.55

6.11

6.50%

11.31

8.66

7.41

6.70

6.26

6.75%

11.43

8.80

7.55

6.85

6.42

7.00%

11.56

8.93

7.69

7.00

6.59

7.25%

11.68

9.07

7.84

7.16

6.75

7.50%

11.81

9.21

7.99

7.32

6.91

7.75%

11.94

9.34

8.14

7.47

7.08

8.00%

12.06

9.48

8.28

7.63

7.25

8.25%

12.19

9.62

8.44

7.79

7.42

8.50%

12.32

9.76

8.59

7.95

7.59

8.75%

12.45

9.90

8.74

8.12

7.76

9.00%

12.58

10.05

8.86

8.28

7.93

9.25%

12.71

10.19

9.05

8.45

8.10

9.50%

12.84

10.33

9.20

8.62

8.28

9.75%

12.97

10.48

9.36

8.78

8.45

10.00%

13.10

10.63

9.52

8.95

8.63

10.25%

13.24

10.77

9.68

9.12

8.80

10.50%

13.37

10.92

9.84

9.29

8.98

10.75%

13.50

11.06

10.00

9.46

9.16

11.00%

13.64

11.22

10.16

9.63

9.34

11.25%

13.77

11.36

10.32

9.80

9.52 9.70

11.50%

13.91

11.52

10.49

9.97

11.75%

14.04

11.66

10.65

10.15

9.88

12.00%

14.18

11.82

10.81

10.32

10.06

12.25%

14.32

11.97

10.98

10.49

10.25

12.50%

14.46

12.13

11.15

10.67

10.43

12.75%

14.59

12.28

11.31

10.85

10.61

This table shows the monthly payment of principal and interest for each $1,000 of mortgage. Example: The monthly principal and interest payment for a $125,000 mortgage with a 25-year amortization period at 5% is as follows: ($125,000 รท 1,000) X 5.82 = $727.50 DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 79

BRITISH COLUMBIA’S

NEW CONDO DEVELOPMENTS PROJ ECT

TYPE

C O N TA C T

PRICE

LR LR LR HR LR

604.309.7155 hudsonsloft.ca 604.557.1047 778.255.9990 604.850.3694

Call Coming Soon Call Call From $179,900

604.541.9517 604.456.8883 604.291.9130 604.563.8386 libertyhomes.ca goldhouseliving.com 604.320.3386 liveatburnabyheights.com 604.899.8800 604.899.8800 604.435.9477 604.435.9477 604.435.8866 604.456.0688 604.563.5777 604.431.6033 604.438.9922 604.527.7955 604.298.8800 604.438.1113 604.528.8906 604.218.3338 604.874.9232

From $459,900 From $239,900 Call From $299,90 From $239,900 Coming Soon Call Coming Soon From $349,800 Coming Soon Call From $439,900 Call Call Call Call From $334,900 From Mid $200s From Low $300’s Call From Low $300s From $249,900 From $299,000

1.800.830.7175

From $184,900

604.472.1123 604.931.0302 604.939.8808 604.942.8416 604.492.3388 604.939.0018 crownbybeedie.ca 604.942.2672 604.936.1888 604.937.2599 604.939.8874 604.464.2701

Call From Low $200’s From $249,900 Call Call From $189,900 Coming Soon From $284,900 From $235,400 From $220,900 From $199,900 Call

ABBOTSFORD

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

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

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

CHILLIWACK / SARDIS

La Cason

LR

COQUITLAM

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

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

Penthouse (PH)

Live Work (LW)

City Home (CH)

High Rise (HR)

PROJ ECT

TYPE

C O N TA C T

PRICE

Regan’s Walk The Windsor Uptown2

LR HR HR

604.492.0222 604.941.8305 604.939.2677

From $259,900 From $324,900 From $258,900

LR HR

604.590.8003 604.594.7473

From $199,900 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 604.514.1530 604.539.2200 yorksoncreek.com

From $137,500 From $189,900 From $159,900 Coming Soon From $199,900 From $224,900 From $139,900 From $179,900

LR LR LR LR LR LR LR LR LR LR

604.463.0588 604.318.5254 604.466.8783 604.807.2423 604.477.1500 604.467.8884 604.467.0692 604.318.5254 604.467.9300 604.380.0300

From $174,900 Call From $149,900 From $189,900 Call Call Call From $162,900 Coming Soon From $189,900

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

604.377.9630 604.694.1188 604.523.0733 604.525.8980 604.520.9890 604.524.8080 604.520.9890 604.523.0733 605.523.0733 604.523.0081 604.523.0733 604.522.2583 604.525.0223

Call Coming Soon Call Call From $218,900 Call Call Call From $239,900 From $249,900 From $239,900 Coming soon From $299,900

HR LR LR

604.980.9949

From $539,900 Coming Soon Coming Soon

NORTH DELTA

Luxor Delta Rise LANGLEY

Athenry Gate Cornerstone Elements Focal Pointe Kensington Suede Varsity Yorkson Creek MAPLE RIDGE

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

258 on Sixth Brewery District Carlyle at Victoria Hill Dominion Duo at Port Royal Elliot St Glass House Lofts Grove, The Lookout at Victoria Hill, The Northbank Parkside at Victoria Hill RiverSky Trapp & Holbrook NORTH VANCOUVER

15 West 221 East 3rd x61 Mid Rise (MR)

Low Rise (LR)

Loft (LO)

x61living.com

Townhouse (TH)

ConneCting buyers to the best new home o p p o r t u n i t i e s i n m e t r o p o l i ta n Va n C o u V e r new h o m es starti ng f ro m t h e mid $1 0 0 ’s

FIFTHAVE.CA 80 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

n e w h o m e s a l e s and marKeting eXpertise

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

Anchor, The Atrium at the Pier Ave Boutique Res., The Canyon Springs Capstone CentreView Destiny 2 Drive, The 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

TYPE

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

C O N TA C T

PRICE

PROJ ECT

604.988.8800 604.983.9065 778.985.4676 604.973.0298 604.929.8870 604.988.8540 604.929.1915 604.986.8138 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

From the Mid $300’s Call Call From $419,900 Call Coming Soon From $259,900 Call From $269,900 Call From low $600s From $378,900 From $299,900 From $244,900 Call Call Coming Soon From $509,900 From Low $300’s From Low $200’s

Gardens, The Harmony Monet Opal at Richmond Centre Ora Orchard (Beedie) Parc Riviera Park Residences Pier, The Pinnacle Living at Capstan Riva River Green River Park Place River Inlet Saffron Tempo

LR LR

778.846.3200 604.460.6601

Call From $134,900

SURREY

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 $189,900 Call Call Call From $215,900 From $246,900

HR HR

604.552.0552 604.492.3338

Call Call

LR LR/HR LR/HR HR HR HR

604.278.5809 604.276.9186 604.276.0677 604.276.868 604.233.7748 604.273.1313

From $319,900 Call Call Call From $300,000’s Coming Soon

PITT MEADOWS

Cedar Downs Liv42 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 PORT MOODY

Residences, The Station, The RICHMOND

Alexandra Court Phase 2 Avanti Camber Cadence Concord Gardens Elle

Penthouse (PH)

Live Work (LW)

City Home (CH)

High Rise (HR)

TYPE

C O N TA C T

PRICE

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

604.271.3331 604.278.3939 604.233.7748 604.303.7575 604.278.8838 live@orchard.ca 604.231.5900 604.303.8878 604.274.7326 604.303.0148 604.278.8825 604.233.2633 604.282.7838 604.233.2633 604.270.2482 604.276.8885

From $374,900 From $322,300 From $300,000’s From $464,900 Call Coming Soon From Low $200’s From Low $370’s Call From $299,900 Call Call From $239,900 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 HR LR LR LR LR HR LR LR LR HR TH/HR LR HR HR

604.957.3331 604.596.2202 tiensher.com 778.395.1886 604.530.5399 604.453.6688 604.596.5075 604.727.5478 604.727.5478 604.825.1038 604.583.9866 604.817.5852 604.581.8000 604.888.514 604.588.5795 604.588.6999 604.588.3783 604.951.9283 604.951.9283

Call From $170’s Coming Soon From $118,800 From $219,900 Call From $264,900 From $199,900 From $274,900 From $209,900 Incl. GST From $250,000 From $289,900 From $159,900 From $174,900 From $221,900 From $186,900 From $160’s From $279,900 From $199,900

LR LR LR LR

604.523.0733 778.571.1123 604.576.1772 604.530.0054

From $269,900 From $189,900 From $199,900 From $229,900

SQUAMISH / WHISTLER

Aqua Elaho University Heights 3 Civic Plaza Ascend Balance Connect Esplanade at Waterstone G3 Residences Latitude Lingo Lumina Manarola Park Ave West Park Central Quattro Ridge at Bose Farms University District Ultra at West Village Verve Wave Wynd CLOVERDALE

Grove, The Latis One92 Salix Mid Rise (MR)

Low Rise (LR)

Loft (LO)

Townhouse (TH)

DEC 12, 2014 - JAN 9, 2015 METRO VANCOUVER NEW CONDO GUIDE 81

PROJ ECT

TYPE

C O N TA C T

PRICE

PROJ ECT

VANCOUVER & AREA DOWNTOWN

188 Keefer 999 Seymour Addition Burrard Gateway Fairmont Pacific Rim Estates Keefer Block Maddox Mark, The Modern One Pacific Private Residences at Hotel Georgia, The Sapphire, The Tate on Howe Trump International Hotel and Tower® Vancouver Vancouver House

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

604.620.2018 604.879.9996 604.620.6692 burrardgateway.com 604.781.4303 604.682.8813 604.669.8200 604.687.4353 amacon.com 604.899.8800 604.682.8107 604.876.9222 604.568.8283 604.568.7888 604.893.8958

Call From $327,400 From $349,900 Coming Soon Call From $269,900 From $389,900 Call From $465,900 From Low $300’s Call From $685,000 From $268,000 Call Call

LR LR LR MR LR LR HR LR

238westbroadway.ca 604.569.3388 604.569.1555 604.872.0331 605.563.6777 liveatthegem.com independentatmain.ca 604.338.5233 604.221.4450 604.620.7886 Killarneyridge.ca 604.688.5527 604.877.1116 604.559.2011 604.779.0091 604.437.5315 604.261.3936 604.436.1100 604.303.8838 604.559.1070 604.874.9232

Call From $227,900 Call From $269,900 Coming Soon Coming Soon Coming Soon Call Now Previewing Call Coming Soon From $349,900 From $339,900 From $329,900 Call From $389,900 Coming Soon Call From $219,900 From $239,999 From $299,900

41westliving.com 604.568.7551 604.620.8600 778.616.7008 604.738.0001 604.646.1111 604.682.8801 604.685.5778 604.568.5060

Coming Soon Call From $528,800 From $450,000 Call From $499,900 Call Call Call

EAST SIDE

238 W Broadway Bohème Collection 45 Evan Focal Gem, The Independent at Main, The Jade Laureates, The Kensington Gardens Killarney Ridge Local Main Street Marquee on the Drive Oxford Rhythm Shine Skyway View338 Vya Wall Centre Central Park

MR SF LR LR LR LR MR MR HR LR MR HR

WEST SIDE

41 West 5555 Dunbar 99 West Aperture Arbutus Ridge Binning Tower Block One Boulevard Private Residences Cambie & 7th

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

Penthouse (PH)

Live Work (LW)

City Home (CH)

High Rise (HR)

Canvas Central Citti Empire at QE Park Granville at 70th Kerrisdale Gardens Lido Livingston House MC2 Meccanica Midtown Northwest Opsal Parc Elise Pinnacle Living Broadway Pinnacle Living False Creek Prodigy Radius Sail Shannon Wall Centre Kerrisdale The Laureates The One Tower Green at West The Village on False Creek W10th & Maple Westerly, The

TYPE

C O N TA C T

PRICE

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

604.875.8508 604.662.3373 604.662.3373 604.687.8800 604.687.2298 604.559.9848 604.872.2672 livingstonhouse.ca 604.638.9998 604.876.8819 604.563.3330 604.325.5151 604.876.7332 604.336.6380 604.739.2080 604.874.8368 604.221.8878 604.731.5522 604.221.8878 604.267.8882 604.221.4450 604.874.8368 604.707.9378 604.733.2010 604.739.2080 604.558.3399

Call Call Call From Mid $300’s Call From $540,900 From $513,900 Coming soon Call From $394,900 Call Call Call From $290,900 From $399,900 From $369,900 From high $300s Call Call Call Call From $349,900 From $319,000 From $390,500 From $429,900 From $300,000’s

LR SF/LR

604.943.8811 604.948.HOME

Call Call

HR LR LR

Cressey.com 604.836.7355 cressey.com

Coming Soon From $490,000 Coming Soon

604.531.6659 604.531.9030 cressey.com 604.818.5603 604.541.8092 604.536.1663 604.560.5535 778.545.8737 604.536.0256 604.538.8028 604.560.1656 604.538.3237 604.560.3238 604.364.7455

From $288,900 From $319,900 Coming Soon From $339,900 From $259,900 Call From $219,900 From $364,900 From $289,900 From $314,900 Call Call From $230’s From $299,900

TSAWWASSEN

Brio 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 Headwaters Heights, The Newport at West Beach Royce Saltaire Sausalito South Point Walk Winter Street Mid Rise (MR)

Low Rise (LR)

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

Townhouse (TH)

New homes available throughout

www.macmarketingsolutions.com Metro Vancouver & Calgary We sell the homes you want to buy. /MacMarketingSolutions 82 METRO VANCOUVER NEW CONDO GUIDE DEC 12, 2014 - JAN 9, 2015

@MAC_Marketing

/MACMSTube

LOOKING FOR A NEW HOME?

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Find the perfect new home or condo in the neighbourhood that fits your lifestyle.

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300 HOMES SOLD IN 3 WEEKS

when homeowners recognize the region’s best investment opportunity.

REAL ESTATE SHOULD BE BOUGHT ON THE FUNDAMENTALS. 6 A M A Z I N G R E A S O N S W H Y B R E N T W O O D T W O S H O U L D B E Y O U R O N LY C H O I C E : OVER $1,000,000,000 INVESTED TO MAKE BRENTWOOD TRULY AMAZING

28 ACRES AND 1 MILLION SQ. FT. OF NEW SHOPS, SERVICES AND RESTAURANTS

DIRECTLY CONNECTED TO SKYTRAIN AND 18 MINUTES FROM DOWNTOWN

LIVE IN BC’S SECOND TALLEST TOWER ABOVE AN INCREDIBLE ENTERTAINMENT DISTRICT

LARGE PATIOS AND AMAZING VIEWS FROM EVERY HOME IN EVERY DIRECTION

INTELLIGENT INTERIORS WITH SIDE BY SIDE LAUNDRY AND THE BEST KITCHEN IN BURNABY

1 BED + NOOK

UNIT 905, S VIEW AREA: 538 sq.ft.

BALCONY: 137 sq.ft.

PRICE: $297,800

1 BED + NOOK

UNIT 3710, N VIEW AREA: 556 sq.ft.

BALCONY: 130 sq.ft.

PRICE: $332,800

2 BED

2 BED + NOOK

UNIT 608, W VIEW AREA: 621 sq.ft.

BALCONY: 126 sq.ft.

PRICE: $333,200

UNIT 4801, E VIEW AREA: 733 sq.ft.

BALCONY: 125 sq.ft.

PRICE: $427,900

2 BED + NOOK

UNIT 702, SE VIEW AREA: 876 sq.ft.

BALCONY: 90 sq.ft.

PRICE: $448,800

VISIT THE PRESENTATION CENTRE & THREE SHOW HOMES 4567 Lougheed Highway, Burnaby (Brentwood Mall). Open daily 12-5pm

THEAMAZINGBRENTWOOD.COM

604.563.8386

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

2 BED + DEN + NOOK

2 BED + DEN

3 BED

UNIT 2006, SW VIEW AREA: 894 sq.ft.

BALCONY: 158 sq.ft.

PRICE: $485,900

UNIT 4612, NE VIEW AREA: 903 sq.ft.

BALCONY: 384 sq.ft.

PRICE: $544,400

UNIT 5705, W VIEW AREA: 1488 sq.ft.

BALCONY: 597 sq.ft.

PRICE: $1,073,900

A HOME ISN’T SOMETHING WE WANT YOU TO EXPERIENCE ON PAPER. OUR LARGE 2 BEDROOM HOMES ARE READY TO LIVE IN NOW. DESIGNFORWARD ARAGON.CA THE STATION The Station is changing the game for accessible living in the Vancouver area. These design inspired, move-in ready homes are within walking distance to the new Evergreen Line and the heart of Historic Port Moody. Starting in the mid 300’s.

To truly appreciate the big picture, call or visit us: 2708 St. Johns Street, Port Moody, 604.492.3338

#ARAGONFORWARD

*Prices and availabilit

Untitled-2 1

2014-12-12 10:24 AM

ONLY 4 HOMES. MOVE IN READY. 2 BEDROOMS.

nd availability subject to change or be withdrawn without notice and do not include taxes. E&O.E.

COLLECTION OF ARAGON HOMES NOW SELLING & MOVE IN READY

VISIT ARAGON.CA

1 – 3 bedroom riverfront loft-style condos.

604.520.9890

Heav

1 – 2 bedroom condominiums starting in the mid $300’s.

604.520.9890