Archive for May, 2006

Vancouver’s house prices still affordable compared to world home prices

Wednesday, May 24th, 2006

Other

Vancouver’s superb quality of life, natural beauty, moderate climate and high
level of services make it the third best Place to live in the world.
(recent quality of life survey, Mercer Human Resources Consulting)

If we’re waiting in hopes that the market may be showing signs of slowing in the
coming years or prices may be coming down, consider this-
As the 2010 Olympics draw closer, global attention will focus on Vancouver.
The positive experience of the visitor to Vancouver, as in the past, will only increase our
popularity and likely our home prices.

How does Greater Vancouver home prices compare worldwide?

City In Canadian $
Vancouver (average 2005) 587,972
Calgary 306,271
Anaheim 838,313
Honolulu 714,850
New York Manhattan 3,785,082
San Francisco 867,149
London 748,468
Paris 1,493,905
Tokyo 605,805

Sources: REBGV, CREA, CREB, NAR, ODPM, PCOC.

New-home sales jump, but inventory of unsold homes rises to record

Wednesday, May 24th, 2006

USA Today

WASHINGTON (AP) — Sales of new homes rose unexpectedly in April to the fastest pace this year, but the level of unsold homes rose to a record high.

The Commerce Department reported that sales of new single-family homes increased 4.9% last month to a seasonally adjusted annual rate of 1.198 million units, the highest rate since December.

The pace of activity caught economists by surprise. They had been expecting a decline in sales, reflecting rising mortgage rates that stand at the highest level in nearly four years.

However, the April pace was down 5.7% from the year-ago rate.

April’s median home price rose 2.8% to $238,500 from March. That represented a 0.9% increase over the $236,300 median sales price in April 2005, far below the double-digit price gains sellers had been enjoying during the recent sales boom.

The backlog of unsold homes rose 2.4% to a record of 565,000 homes on the market at the end of April. At the April sales pace, it would take 5.8 months to deplete that backlog.

Most economists believe the slowdown in housing will be gradual as long as inflation pressures remain moderate enough to allow the Federal Reserve to soon take a pause in its two-year campaign to push interest rates higher.

For April, home sales were strong in all parts of the country except the Midwest, where sales fell 1.1%, the second straight monthly declines. Sales were up 8.2% in the Northeast, reflecting a rebound after a drop of 7.6% in March. Sales were up 7.8% in the South and 2% in the West.

Commercial building reaches record high

Wednesday, May 24th, 2006

Games, Asia trade lead B.C. to 27% surge in 2005 construction

Derrick Penner
Sun

SOURCE: STATISTICS CANADA Vancouver and Calgary saw huge Value of office building construction increases in office tower Vancouver Calgary construction last year. Photograph by : Vancouver Sun

Work continues on athletes village area for 2010 Winter Games. Photograph by : Mark van Manen, Vancouver Sun

British Columbia built more factories, schools, hospitals and office space in 2005 to ramp up non-residential construction activity to $3.9 billion, a 27-per-cent surge from the previous year, Statistics Canada reported Tuesday.

It was construction activity driven by B.C.’s strengthening economy, supported by demand for Olympics-related office space and increasing Asian trade, Statistics Canada said, that helped lead Canada to its fifth-straight year-over-year record for non-residential building.

Alberta, which saw its non-residential construction starts rocket 28 per cent to $4.7 billion, was also cited as a leader in growth, making the surge largely a western story.

Nationally, non-residential construction hit $31.5 billion in 2005, up 8.7 per cent — or $2.5 billion — from 2004, the biggest gain since 2002.

“For B.C. in 2005, I think it’s a record for the three types of building — industrial, institutional and commercial,” Statistics Canada analyst Bechir Oueriemmi said in an interview.

Oueriemmi added that B.C.’s increasing trade with Asia and preparations for the 2010 Olympics appear to be the main triggers for the increase in demand for new space, particularly for office buildings.

New office construction accounted for half of all the growth in non-residential construction, Statistics Canada said. Within the new office investment, metro Vancouver and Calgary contributed a quarter of that growth.

“A lot of companies, they try to have space in advance [of the Olympics],” Oueriemmi said.

Greater Vancouver saw $458 million poured into building new office space during 2005, which was a 45.1-per-cent increase from 2004.

However, Jeff Rank, vice-president of commercial realtor Cushman & Wakefield LePage’s Vancouver office, said factors other than the Olympics or Asian trade played roles in the increase.

“The current drivers for the demand [of] office space in B.C … natural resource companies,” Rank said in a written exchange. “Mining and natural gas companies [as well as] construction and engineering support companies that are related to infrastructure projects and Olympic facility building.

Rank added that while a large piece of Olympics-related office expansion happened in 2004 and 2005, he expects another wave to hit in 2008 and 2009 as “event-specific” office users come to town in preparation for the games.

The growth, he added, has been in the suburbs: Burnaby, east Vancouver and Richmond. However, Rank said that office space downtown will continue to be accommodated in mixed-use buildings such as the new Jameson House, until new highrise sites are identified.

B.C. also saw $643 million invested in industrial projects — factories, mills and other industrial plants — which represented a 43-per-cent increase over 2004.

Manley McLachlan, president of the B.C. Construction Association, said the rise in industrial construction “sort of follows the other [sectors].

“If the residential sector is growing or has grown, that means sooner or later infrastructure has to grow. Then in a healthy economy, you also maintain growth in the industrial sector.”

TOWER POWER

Vancouver and Calgary saw huge increases in office tower construction last year, a major component of the $2.5-billion increase in non-residential construction across Canada in 2005. Office towers accounted for more than half of that $2.5 billion and nearly a quarter of that took place in the two western cities.

© The Vancouver Sun 2006

Could this be the giant killer of the Blackberry?

Wednesday, May 24th, 2006

Motorola Q due out May 31

Bloomberg
Province

Motorola hopes its new Motorola Q, a new smartphone that will be released in a week, will become more popular than the Blackberry.

Motorola Inc., the world’s second-largest maker of mobile phones, said it will release May 31 its Q phone and e-mail device designed to challenge the BlackBerry.

Verizon Wireless will sell the Q for $199.99 after a $100 rebate with a two-year wireless agreement, Motorola said.

The Q phone, being released two months behind schedule, represents Chief Executive Officer Ed Zander’s effort to crack the dominance of Waterloo, Ont.-based Research In Motion Ltd.’s BlackBerry and tap burgeoning demand for phones that also act as e-mail devices and day planners. That market may grow ninefold to 52 million users by 2010, according to FTN Midwest analyst Ben Bollin.

“The Q packs a lot of wallop and we expect to sell a lot of them,” said Zander, refusing to provide sales targets.

Research In Motion plans to add cameras and music players to the BlackBerry to counter competition from Motorola and larger rival Nokia Oyj. Research In Motion last month said it has almost five million subscribers and expects to add 675,000 by June 3.

The Q will run on Windows Mobile 5.0, an operating system from Redmond, Wash.-based Microsoft Corp., the world’s largest software company.

Zander, 59, aims to appeal to both business clients and professional people.

“You have to go with the software that has volume, and for the enterprise market today, that’s Microsoft,” he said.

Motorola was scheduled to release the Q before the end of March. On April 18, Zander said they were “very close” to the release. He didn’t give reasons for the delay.

The company now plans to further develop the phone and add more versions within the next two years, he said.

Research In Motion last year had 75 percent of the so-called smartphone market, compared with Motorola’s one per cent, said Bollin, a Boston-based analyst. By 2010, Motorola may increase its share to 15 percent and Research In Motion might fall to 52 percent, said the firm.

Zander is relying on sales of new higher-priced phones, including the Q, to help reach his goal of increasing operating margins.

© The Vancouver Province 2006

 

Granville Island’s appeal is its exquisite blend

Wednesday, May 24th, 2006

Province

Province readers believe the essence of Granville Island’s charm lies in its small shops. Photograph by : Jon Murray, The Province

Letter

Keep Granville Island as it is. Paint it, give it structural support but definitely keep its local business focus.

I live near Broadway and MacDonald, where many local businesses are closing down to be replaced by chain stores like Starbucks and Cobbs.

Vancouver‘s Fourth Avenue has become this gentrified, Kitsilano version of Robson Street.

Do not try to make Granville Island a tourist destination, it already is that.

Keep it as a market for food, beverages, restaurants and artisans. Help it maintain its emphasis on commercial boating recreation.

Please, please don’t change it. Pay attention to the needs and wishes of the current tenants. They are the front-line people who have put their time, energy and money into making Granville Island work.

Listen to them — don’t hire outsiders to do some kind of “study.”

Kathy MacLennan,

Vancouver

Keep Granville Island‘s charm

Letter

Big-box stores, chain coffee shops and restaurants should never be allowed on Granville Island.

Its exquisite blend of art, craft, assorted foods, bakeries, specialty stores and the food market are what make Granville Island so very special and one of my favourite places to visit.

Installing bike lock-ups is a great idea but standardized parking is not. The current free three-hour parking, plus special parking for tour buses and indoor and outdoor paid parking spaces, is a perfect blend of options.

Widening the island’s docks and expanding ferry service is potentially a good idea, providing it doesn’t increase the number of visitors to unsafe levels.

Linking the island by street car or heritage rail could create too much congestion in the event of an emergency such as a fire.

Jane Saborio,

Surrey

© The Vancouver Province 2006

Investors provide subsidized housing for the Lower Mainland says Rennie

Tuesday, May 23rd, 2006

Few new projects coming on stream so cities should take action to ensure adequate supply, prominent realtor says

Frances Bula
Sun

Privately owned condos are a major source of rental housing in the region, and cities must take action to ensure they keep coming on stream, says Bob Rennie, Vancouver’s most influential condo salesman.

The rental supply is being squeezed, he said, because 70 to 100 per cent of the units in condo projects now being built in Vancouver and Burnaby have already been sold, and there aren’t plans for many more new buildings between now and 2010.

To deal with the problem, cities must become more flexible, approve projects faster, give bonus density to projects that will create affordable housing and look at unusual ways to create social housing, he said.

“Social housing and non-market housing is in a crisis situation,” Rennie told about 500 people at the Urban Development Institute last week.

“We have to find a way to produce non-market housing that attracts investors to buy into an ethical fund. Buy social housing condominiums just like we buy a studio and rent it out just like we buy into an ethical stock fund.”

Rennie noted that of 15,000 condo units now being built in Vancouver and Burnaby, there are barely any left for sale.

In Vancouver’s downtown, 99.6 per cent of the 2,072 scheduled to be completed this year are sold; 94 per cent of the 2,905 to be finished next year are sold; 72 per cent of the 2008 stock is sold, and 80 per cent of the 2009 stock is sold. It’s not much better in Burnaby, where 95 per cent of 2,525 condos due to be finished this year are sold, and 100 per cent of the 1,042 scheduled to be finished by next year are gone.

He said private investors, who typically buy 30 to 65 per cent of units in any new condo development to rent out, face a situation of not having anything to buy.

“The investor is actually providing subsidized housing, taking the burden off governments and placing 35-per-cent down so the rent will cover the mortgage [while they’re] waiting for a capital gain,” he said.

“The model of private and public needs being met through development really is a win-win and we have to start getting creative in every city.”

Rennie’s latest coup was to sell out in one day the 536 market condos in the Woodward’s project, the former department store on Hastings that is to be redeveloped with a mix of private and social housing, the Simon Fraser University arts centre, a grocery store, drug store, daycare and space for community groups.

Rennie said he had to sell out the risky project in a day, or it would have been considered a failure and that would have killed the whole deal.

Instead, it’s now judged a success that will be a catalyst for change in Gastown, Chinatown and the Downtown Eastside.

But that’s not going to solve the shortage of land and future development that is at the root of an escalating affordability crisis in the region, he said.

Rennie noted that downtown condos are now selling at $600 a square foot and rising, because they’re selling to an international market that has no relation to the local economy.

(The condos he’s selling at the foot of Burrard, in the Fairmont hotel development, are priced at $1,566 a square foot and it takes a $10,000 deposit just to get an appointment to talk about buying one.)

That means there needs to be more development in the rest of the region, said Rennie.

© The Vancouver Sun 2006

New sparkle for a rare jewel: GRANVILLE ISLAND: Change is in the air at this unique Vancouver site, where anxious tenants are being promised it will all be for the good

Sunday, May 21st, 2006

Mike Roberts
Province

Jon Murray, The Province Grocery shopping will continue to be a key attraction at Granville Island — there are no plans to curtail vehicle traffic.

Joanne Lefebvre of the Stock Market has been plying her trade on the island for 20 ‘wonderful’ years. Jon Murray, The Province

Granville Island busker Andrew Greenwood, a first-year University of Victoria music student, jazzes the crowd outside the public market. ‘I just come out here sometimes,’ says the tenor sax player. ‘People here stop to listen and they’re pretty generous.’ Jon Murray, The Province

You can’t get a Starbuck’s coffee on Granville Island. Nor, for that matter, can you buy a pair of khakis from the Gap or order up a Happy Meal from Mickey-D’s.

Trivial? Perhaps.

But it is this underlying policy of “made in Vancouver” consumerism — no franchise chains, nay to the multinationals — that has, for more than 30 years, provided the cornerstone of the Granville Island experience.

Balanced on this founding philosophy is a vibrant and diverse community of independent shopkeepers, artists, artisans and buskers that sets Granville Island apart as a successful public market unique in North America.

The formula has long appeared bulletproof, drawing 12 million visitors a year to the historic, 16-hectare peninsula in the heart of Vancouver.

Today, however, there is a growing sense of unease on the island.

The Canada Mortgage and Housing Corporation (CMHC), the federal body that governs Granville Island, is looking to make changes for the first time since taking it over in 1979.

Island Insight — an exhaustive infrastructure study nearing completion — will consider improvements to public access, transportation and parking, as well as the 19 buildings, seawalls and docks CMHC owns and manages.

All in time for the influx of visitors expected during the 2010 Olympics.

Many of the island’s business and studio owners are nervous. Change is in the wind, and unlike Granville Island’s signature scent — a melange of fresh-cut flowers, fried fat and sun-baked creosote — many feel there’s a bad whiff on the rise.

Joanne and Georges Lefebvre, owners of the bustling Stock Market in the public market, have worked on the island for 20 years. From cramped quarters, the Lefebvres offer 3,000 varieties of soups and stocks.

Joanne describes two decades on the island as “absolutely wonderful.”

“In French, we say, ‘ludique,'” she says. “Which means ‘playful.'”

But Joanne now wonders what the future will hold as Granville Island’s keepers plan for the next 20 years.

“They must be vigilant about keeping it small, encouraging the equilibrium of artisans and small business owners,” she insists.

“The administration seems quite dynamic and they are being proactive,” she adds. “But we will see.”

The CMHC’s Gloria Loree says the Lefebvres have nothing to fear. Ditto the 2,500 people who work on the island and the thousands of Greater Vancouverites who would say of their beloved Granville Island, “If it ain’t broke, don’t fix it.”

But Loree says that 30 years on, the crown jewel of Vancouver’s tourism industry needs a polish. The island’s aging infrastructure — pylons, planks and cement hardly touched since 1917 — requires maintenance. And increased visitation — particularly vehicular visits — has placed pressures on the island that need to be addressed. It will be a gentle tweak, insists Lore e.

“We know that the sense of pride and ownership by the community for Granville Island is extraordinarily high,” she says. “People feel about Granville Island the way they do about their home or their local park.”

So what, exactly, is in store for Granville Island?

It’s early days, but the CMHC’s proposed plans include:

n Widening the island’s docks and expanding its ferry services.

n Ongoing maintenance and safety improvements for old industrial buildings.

n Working with the City on linking the island with a proposed False Creek streetcar and/or linking the island by heritage rail with the coming Canada Line.

n Installing bike lock-ups and standardizing parking.

Granville Island artist Hilary Morris says Island Insight will have a “significant impact” on the future of the island.

“It’s important that things are looked at,” says Morris, also a board member of the Granville Island Business and Community Association. “You can’t just rest on your laurels and hope to remain successful.”

The artist is confident CMHC will maintain the unique blend of activities on which the island was founded.

“Many have tried and many have failed to create this kind of atmosphere and experience . . . so any sort of tweaking and changing will be viewed with fear,” she says.

Gloria Loree says multinationals will never be welcome on the island, while vehicles will never be banned.

“You couldn’t cut off vehicle access to the island without some really serious implications to the business life down here,” she says. “There’s a certain amount of animation that comes from having traffic circulation and a lot of our visitors are coming specifically to buy a lot of groceries.”

No, says Loree, the CMHC will instead offer alternatives such as extra ferries, more bike lock-ups and better rail/transit links.

As for that Starbuck’s coffee? Not on her watch, says Loree.

“The pressure does not come from the multinationals. It comes from our community, which says keep Granville Island unique, keep the chains off,” she says. “There is no intention to move in any other direction.”

[email protected]

Granville Island’s history at a glance

– 1850s: Local First Nations use the two sandbars that would become Granville Island as a natural salmon trap

– 1890s: Three early entrepreneurs stake a claim to the sand bars hoping to build booming grounds and a sawmill; Canadian Pacific Railway scares them off with a legal suit, launching a 20-year-long squabble

– 1915: The new Vancouver Harbour Commission gives Ottawa $1 for the mudflats and approves a $342,000 reclamation; 760,000 cubic metres of mud are sucked up and poured into wooden frames to form the walls of a 14.5-hectare, three-metre-high island

– 1916: Industrial Island opens for business, boasting 80 lots with annual rents of $1,200 to $3,700 per hectare; the locals called it Granville Island after the bridge above.

– 1930: 1,200 people are working in the island’s plants and factories, servicing B.C.’s booming forestry and mining industries, when the Depression hits, turning boom to bust

– 1939: Prime Minister Mackenzie King takes Canada to war and Granville Island is remobilized for the war effort, with around-the-clock production of a wide range of military-industrial machinery

– 1946: The island’s biggest tenants move out, lured by cheaper lands and cheaper transport — and leave behind oily, toxic firetraps. The island is in serious decline

– 1950: Officials decide to fill in the rest of False Creek to create more industrial land accessible by truck, but the plan is halted by its $50 million price tag; another 21/2 hectares are eventually reclaimed and Granville Island becomes, technically, a peninsula

– 1970s: Tertiary industry limps along on the island until future-thinking city officials decide to lobby Ottawa to help transform it into a people-friendly area

– 1973: Senior cabinet minister Ron Basford, whose riding includes Granville Island, shifts responsibility for the island to his ministry; Ottawa grants $25 million for the island’s revival and public markets across North America are studied for the right mix of shops, boutiques, food stalls and arts spaces for the island.

– 1979: The Granville Island we know today opens its doors to instant success.

— Sources: Granville Island Administration and The Greater Vancouver Book

Broadcaster Bill Good living the good life at Denia

Sunday, May 21st, 2006

Jeani Read
Province

Bill and Georgy Good are officially empty-nesters now. Their three kids are grown and flown, and they’ve moved from their North Van, Edgemont Village family home to a Coal Harbour condo.

Bill still has a lock on being one of Vancouver’s favourite broadcasters (and the one with the broadest range, from CTV to CKNW), while Georgy is a busy partner with youngest son Derek in Motion Foods, a huge 3,000-sq.-ft. commercial kichen that manufactures private-label foods for businesses that don’t have their own commercial kitchens.

Yes, they also have a getaway on the Sunshine Coast, but it’s taken them just about a year to become devoted urbanites. We asked them about their new city home.

Describe your decor style.

“Modern-contemporary, which blends in with the modern new city that surrounds us. The condo is very white. Our home in North Van had a lot of colours that were carefully picked with help from a decorator, but here we have lots of black to go with the cabinetry and some tan along with the white.”

His or hers?

“Both. We always insist we both have to like something or someone before they get to stay inside.”

Favourite room?

“The den, which is open to the kitchen. The floor-to-ceiling windows look out on Jimmy Pattison’s yacht and all that’s magnificent about Coal Harbour.”

Where do you spend most of you time?

“That very same den-kitchen area.”

Best thing about moving to the city?

“The proximity to CKNW and CTV and the somewhat unexpected neighbourly feel with coffee shops, restaurants, gelato shops and a lot of foot traffic. We’re surprised. We thought it would be more hotel-like but the people are friendly and chatty. We find it similar to Edgemont Village.”

Condo life cool?

“You lock the door and go, and there’s a real sense of security. People in the suburbs balk at the idea of high-density living but I go out at the height of rush hour and there’s no traffic and we never see anybody else in the elevators — your backyard’s Stanley Park, or water views. It’s not a concrete jungle.”

Party people?

“Not really. We like to entertain in small groups where everyone gets to talk to everyone else.”

Dining in or out: pick one.

“We tend to go out a lot in the city where there are so many restaurants and bistros close by, and we cook and barbecue in our weekends on the Sunshine Coast.”

Favourite piece of art?

“Which of your kids do you love the most? We can’t say. We’ve tried to collect a small and eclectic group of paintings by B.C. artists such as Daniel Izzard and Nancy O’Toole.”

Favourite place to read?

“Almost anywhere — we are both avid readers.”

Always in the fridge?

“A chilled Pino Gris and Brie cheese.”

Where’s the T.V.?

“In the den, and it’s the only one.”

Tunes on right now?

“We love our iPod. Probably Keb Mo’ or Jack Johnston.

Oldest thing in the place?

Georgy: “Bill.”

Newest?

“Nearly everything. The furniture and most of what seemed at home in a traditional suburban home just didn’t work in a new condo. We used to live in a very traditional, probably built-in-1964 place (with lots of updating) with big comfy furniture meant for an older home, but that wouldn’t fit here.”

Most sentimental?

“A couple of Daniel Izzard paintings my parents passed on to us, and an Izzard sketch of a mother and child that they gave us for our first anniversary 31 years ago. We just had them all reframed for the more modern setting.”

Favourite?

Bill: “Georgy.”

Georgy: “Good answer.”

© The Vancouver Province 2006

 

Gastown residents split over stadium

Sunday, May 21st, 2006

PROPOSAL: Some in favour want their views heard

Andy Ivens
Province

John Kostiuk says the Whitecaps’ proposed soccer stadium for Gastown is getting a raw deal.

The Gastown resident is striking back at the campaign to sink the 15,000-seat stadium with a new website, www.stadiumnow.org.

“I thought it would be good to get the word out that there are people in the neighbourhood [who] are not being represented by the other coalitions and their own business society.”

Lower Mainland and Vancouver residents are strongly in favour of the stadium — scheduled to open 2009 if city council gives the idea a thumbs-up votes in a vote next month.

But among Gastown residents and businesses, surveys reveal a slight edge to the No forces.

The stadium would be funded by Whitecaps owner Greg Kerfoot, a software multi-millionaire who owns waterfront land east of the proposed stadium.

Kostiuk said, “I think the main organizer for the No side has his own property development interests involved.”

Jon Stovell, spokesman for the Gastown Neighbourhood Coalition, has interest in two properties in the unit-block of Water Street, noted Kostiuk.

“Those buildings back onto Kerfoot’s property,” Kostiuk said. “Various people who are opposed have their own financial interests.”

Stovell, a developer in Gastown who has won awards for his buildings, denied he would gain financially if the stadium proposal fails.

“We should be given other options,” he said.

“If they could find a way to get the stadium farther away and less bulky . . . I believe a stadium could be quite nicely incorporated into the waterfront. But they’re going to have to get together with other property owners and get a larger footprint.”

© The Vancouver Province 2006

 

Be the master of your DoMain

Sunday, May 21st, 2006

It’s two minutes from downtown and Cork floors are standard

Jeani Read
Province

Steel backsplash and counters are an option. Photograph by : Jon Murray, The Province

South Main grows trendier by the instant and the real-estate market buzz here exceeds anything anyone would have dreamed just a few years ago.

We asked Platinum Project sales/ marketing director Patricia Glass what makes this project special:

Q. What’s great about the location?

A. “It’s two minutes to downtown, the Main Street traffic-improvement program administered by the City of Vancouver to improve roadways, transit lines and bike lanes [eases existing traffic flow].”

Q. The neighbourhood?

“The eclectic SoMa neighborhood features an abundance of quaint stores, hip boutiques and the famous, unmistakable Main Street atmosphere. The streetscape consists of a tapestry of historic and contemporary storefronts and award-winning eateries.”

Q. Who’s your buyer?

A. “Our buyers range from the Electronic Arts crowd to the young family desiring a reasonably priced Vancouver townhome. By offering both condos and townhomes, there is a home style to suit every lifestyle.”

Q. What’s special about the project?

“The affordability that DoMain offers young buyers. Both Downtown and the West Side appear out of reach for most. For example, a one-bedroom in these areas can be easily $50,000 to $75,000 more [than a similar home here] and a two-bedroom can be more than $100,000 more. DoMain is the affordable solution to the young buyers’ housing predicament.”

Q. About the floor plans?

“The layout ingenuity adds to DoMain’s [uniqueness] in the Vancouver market. We’ve introduced the ‘guest’ concept to our plans, which maximizes . . . a one-bedroom unit. This additional space [can be used for] couch-surfing friends, or a multi-media corner.”

Q. What features are standard, and which upgrades?

A. “The cork floors throughout the entry, kitchen, living and dining are a first for a multi-family residential project in Vancouver. [Cork is] sustainable, durable flooring that provides the lowest conductivity of temperature, sound and vibrations. It acts as an insulator against the city outside your doors and it looks fabulous.That, the New Zealand 50-per-cent-wool curly carpeting and stainless appliances are standard. A kitchen upgrade option is to have both the splash and counter of stainless steel. Walnut hardwood is also an optional upgrade.”

Q. Occupancy?

“February 2008.”

QUICK FACTS

DOMAIN

What: 43 condos and eight townhomes in South Main, Vancouver

Where: 2828 Main St., at 12th Ave.

Developed by: Holborn Developments

Sizes: Condos and townhomes, 546 sq. ft. – 1,177 sq. ft.

Prices: $380,900 – $460,900

Open: Public grand opening is May 27; register early at www.domainliving.ca. Presentation hours will be noon to 5 p.m. daily except Friday, 604-709-8070

© The Vancouver Province 2006