Archive for December, 2006

‘Vibrant’ construction growth for 2007

Thursday, December 21st, 2006

Vancouver’s consumers have finally come to life, conference board says

Paul Luke
Province

Contributing to Vancouver’s continued economic expansion is construction of the Canada Line on Granville Street between Hastings and Pender. Photograph by : Arlen Redekop, The Province

The Vancouver area’s economic expansion will slow in 2007 but the region will still enjoy the third-fastest growth among 27 Canadian cities next year, a new report says.

The Vancouver area’s real gross domestic product will grow by 3.1 per cent in 2007, down from 3.9 per cent in 2006, the Conference Board of Canada said yesterday.

“Growth in the construction sector is expected to be vibrant again in 2007 but services output is set to slow down somewhat,” the board said in its winter outlook.

“In line with overall economic activity, both employment and personal income are set to record healthy increases.” These increases will support an increase in consumer spending, the board said. Retail sales should expand by 6.2 per cent next year, following an estimated jump of 8.1 per cent this year.

The 6.2-per-cent increase will trigger a rise of four per cent in the wholesale and retail trade sector. “Vancouver’s consumers have finally come to life,” the board said.

On the downside, steeper prices and higher borrowing rates will continue to trim housing demand.

“As a result, housing starts are forecast to drop by 10 per cent in 2007, albeit to a still respectable 17,000 units,” the board said.

But a flurry of non-residential building projects will boost total output in the city’s construction sector by five per cent next year, the board said.

Vancouver, Abbotsford and Victoria shared third spot in the board’s ranking of metropolitan economic growth in 2006.

While Vancouver will maintain this ranking in 2007, Abbotsford will slip to fifth place with forecast real GDP growth of three per cent. A slowdown in the Victoria area’s key services sector will reduce its GDP growth to 2.1 per cent, putting the city in 17th place next year, the board said.

© The Vancouver Province 2006

 

Downtown office vacancy rate tightens

Wednesday, December 20th, 2006

New projects makes workspace in suburbs more readily available than in city centre

Derrick Penner
Sun

Downtown Vancouver office space was even harder to find in the fourth quarter of 2006 while suburban workspace became easier, according to two of the big commercial real estate brokers.

Chris Clibbon, senior research analyst with CB Richard Ellis, said Greater Vancouver’s overall office vacancy rate hit a new five-year low of 7.8 per cent.

However, while vacancy in the downtown core and along the Broadway corridor tightened up to five per cent and 3.4 per cent respectively, the pressure in suburbs declined.

“We’re starting to see separation between the downtown-Broadway market and suburban markets,” Clibbon said.

That means vacancy rates in municipalities such as Burnaby, Surrey and Richmond are not dropping at the same pace as the city centre, although they were a year ago.

Clibbon added that in some cases, that is because developers are building new office space that is close to completion.

In Burnaby, for instance, about one million square feet of new office space will come into the market, whereas in downtown Vancouver, the only new project underway remains the 238,000-square-foot completion of the Bentall 5 tower on Burrard Street.

Shawna Rogowski, a research associate at Colliers International, added that some big moves also contributed to rising vacancy in some suburban areas.

Rogowski noted that Worksafe BC’s move from Richmond opened up an 81,000-square-foot hole that contributed to the municipality’s overall 114,000-square-foot increase in available office space.

“I do think we’ll make up for that,” Rogowski added. “We have [leasing] deals on the way that will make for positive absorption in Richmond.”

In its fourth-quarter report, CB Richard Ellis estimated downtown Vancouver’s average gross lease rate to be $30.20 per square foot. On the Broadway corridor, the average gross lease came to $25.35 per square foot.

In Burnaby, CB Richard Ellis pegged office vacancy at 7.5 per cent with an average gross lease of $25.81.

In Richmond, vacancy stood at 17.3 per cent with an average lease rate of $22.17.

New Westminster had the highest office vacancy at 21 per cent and lowest average gross lease rate of $20.17.

© The Vancouver Sun 2006

 

Uranium price projected to reach $115 per pound

Wednesday, December 20th, 2006

Sun

SYDNEY, Australia — Uranium spot prices will continue to rise into the new year, hitting $90 US per pound by mid-2007, according to a report by Resource Capital Research.

Over the past three months, the price climbed 23 per cent to $65.50, the Australian equity research company said in its December quarterly report.

It projects the spot price could hit $115 per pound by late 2008.

Resource Capital said junior uranium miners are seeing strong interest from investors, with Canadian companies like Equinox Minerals and over-the-counter traders like OmegaCorp expected to announce uranium projects in the new year.

“Development-stage companies with compliant resources, or those expected to advance to development stage mid-term, are forecast to continue to outperform the sector,” said managing director John Wilson.

Other companies are expected to advance projects rapidly in 2007, including Tournigan Gold Corp., PepinNini Minerals and Berkeley Resources, the report said.

Resource Capital said early stage production at companies like Curnamona Energy, Globe Uranium, Scimitar Resources are, in some cases, showing “encouraging results.”

The study covered 25 global uranium exploration and development companies primarily in Australia, Canada, U.S. and the U.K.

© The Vancouver Sun 2006

Housing market is on track for soft landing

Wednesday, December 20th, 2006

Decline in U.S. to slow Canadian economic growth in 2007

Province

TORONTO — The Canadian economy will grow by 2.2 per cent in 2007, down from 2.7 per cent this year, as weakness in the U.S. economy slows demand for Canadian exports, TD Bank is predicting.

However, the Canadian consumer is expected to take up some of the slack, helping to offset the decline in the United States.

“A large part of this resilience can be traced to solid gains in personal disposable income, which in turn reflects the expectation that Canada’s labour market will remain tight, putting further upward pressure on wages,” TD economist David Tulk wrote in a report released yesterday.

“Consumers also stand to benefit from the low level of interest rates and they will receive an extra boost from an expected 50 basis points of rate cuts administered by the Bank of Canada in the second quarter of 2007.”

In 2008, the Canadian economy is expected to grow by 3.2 per cent.

The one element of weakness that Tulk identified for the Canadian economy was residential investment, which has fallen the past two quarters.

“While a further decline is expected in each of the next three quarters, activity will level off by the second half of 2007,” Tulk wrote.

“Despite this decline, Canada’s housing market is on track for a soft landing with little direct impact on the consumer.”

Asked about the TD outlook, federal Finance Minister Jim Flaherty acknowledged that Canada “has certain challenges which we are conscious of — the appreciation of the Canadian dollar vis-a-vis the American dollar, U.S. housing prices, potential increases in protectionism as a result of the Doha round [world trade] negotiations not continuing.”

However, Flaherty said that Canada’s economy “has been remarkably resilient despite the significant weakness in the American economy. So we’re comfortable with respect to where we are, and we’re looking forward to continued good news in Canada over the next few years.”

© The Vancouver Province 2006

 

Real estate: Laid back in Los Angeles

Tuesday, December 19th, 2006

Noelle Knox
USA Today

The most expensive Rancho San José de Buenos Ayres, the owner of record, has put this 3.2-acre estate in Bel Air up for sale. The property has a main residence and five guest facilities. Price: $43 million. Bedrooms: 36 combined. Bathrooms: 34 combined. Size: 18,000 square feet. Features: Hand-painted murals; onyx marble floors; double master suite, each with its own sitting room; sunken tennis court; pool and pool house; city and ocean views.

Median-price home This single-story Spanish-style house just sold. Price: $585,000. Bedrooms: 3. Bathrooms: 2. Size: 1,631 square feet. Features: Hardwood floors, Spanish tile floors, wood-burning fireplace, blue granite kitchen counters, two-car garage.

With home sales skidding even with the median price up to a gravity-defying $583,000, it’s hard to believe the Los Angeles real estate market is stabilizing. But while home sales are down sharply from last year’s hyperventilating pace, the sales rate in November would be right about the average if you look back over the past 18 years, says John Karevoll, an analyst at DataQuick Information Systems.

Prices, which continue to inch upward, have stunned nearly every market watcher. “It’s astonishing,” says Karevoll, who still expects prices to decline 1% to 2% in the next three to six months.

“L.A. is big, and it has a huge housing stock,” he says. “There are all kinds of categories: new, old, big, small, cheap, expensive. It’s like turning a supertanker; it turns slowly and moves incrementally.”

Prices at the high end of the market appear to have peaked, but demand is still fairly strong for mid- and low-price homes — which, naturally, are all that a lot of people can afford.

The lack of affordable housing in Los Angeles has reached “crisis” proportions, says Mayor Antonio Villaraigosa, and the exodus of the middle class is hurting the city.

High quality the secret of Wickerwerx gift baskets

Monday, December 18th, 2006

Province

Names: Wanita Pettenon and Tracey Ashbury

Business: Wickerwerx, Burnaby

Contact: 604-421-0050; www.wickerwerx.com

Number of employees: Two, plus three helpers for the holidays

Time in business: Four

What do you do? We create gift baskets for people looking for higher-quality products. We have found a niche with corporate clients and we also sell online and ship the baskets all over the world.

How did you get into this business? I was looking for a business I could do at home so I could be with my kids. Tracey had a job, so she didn’t need to look for an income. I’ve always had an artistic side, even though I worked as a bookkeeper and accountant for 14 years before having children. I knew someone who made gift baskets as a side job and the more I looked into it the more interested I became. I knew that if I really wanted to be successful, I couldn’t do it by myself and Tracey was the one person I could think of who I’d butt heads with the least. She has no interest in doing the designs and creative stuff, but she handles all the administrative and accounting work.

What is unique about your baskets? They aren’t mass-produced. We have been tempted to produce lesser-priced baskets to attract more customers, but we chose not to sacrifice quality. We’re not looking to become millionaires — the business puts a little money in our pockets and it’s very satisfying.

Future plans? The business has grown so much, and it has the potential to grow much larger. We’re only advertising on the Internet, but this is where we’re comfortable for now. I’m excited about five years from now — I want to take it to a higher level. I don’t know where yet; I have to do a lot of research. It’s a little bit scary.

© The Vancouver Province 2006

What do we do with these unwanted pets?

Sunday, December 17th, 2006

CONDO BYLAWS: People bought pets for their children but the bylaw says “no pets”

Tony Gioventu
Province

Dear Condo Smarts:

Our building has a bylaw that says no pets.

Last year for Christmas, several families bought cats or dogs for their children. Now we have three cats and two dogs. It’s not that I don’t like pets, but we, as owners, are constantly dealing with messes in the common areas, and the smell.

We’re supposed to be a building with no pets, but now we have pets and most owners don’t want them. Council said they were OK, but they’re not. So what do we do ?

— Monica in Port Moody

Dear Monica:

The bylaw that says no pets means no pets.

Strata councils often make the wrong assumption that they can exempt owners from bylaws for a variety of reasons.

Your owners now have a complication on their hands and should start with the council enforcing the bylaws and seeking legal counsel on where to go next, especially considering the council gave permission.

If any of the council are the pet owners themselves, they need to remove themselves from council while the bylaw enforcement process is conducted.

This leads to the greater problems with not just Christmas but all the hazards and the hangovers of holidays.

Gift giving for a strata owner can be a curse — something I’ve dubbed “Yes, Virginia there is a Strata Clause” (probably against whatever you’re giving.)

Don’t buy pets, hot tubs, satellite dishes, barbecues or scooters for your beloved unless you know they can have them first.

That new puppy on Christmas Day will be a heartbreaker when the family discovers there are no pets permitted in the strata.

Hot tubs require space that can support the weight, electrical service/gas and a drainage area.

Satellite dishes are often prohibited and, frequently, only certain types of barbecues are permitted. And where will the new Vespa be parked?

What seems a great idea on the surface to most owners is often plagued with perils beneath.

DISASTERS IN THE MAKING

– Deep-frying turkeys (or almost anything, for that matter) on your balconies

– Rewiring the common-area electricals to power your own seasonal lights

– Shovelling heavy snow off flat-roof areas with a sharp blade

– Nailing and screwing lights and ornaments onto the building

– Using real candles on Christmas trees and abandoned candles on the Christmas table

– Burning off the Christmas wrap in fireplaces — especially gas fireplaces

– Serving spiked eggnog to the building owners and their children on Christmas Eve

– Using concrete mix to cover walks when you run out of salt

– Catapulting your spent Christmas tree from the seventh floor on New Year’s Day.

Tony Gioventu is the executive director of the Condominium Home Owners Association (CHOA). Contact CHOA at 604-584-2462 or toll-free 1-877-353-2462, fax 604-515-9643 or email [email protected]

© The Vancouver Province 2006

 

Georgia hotel to retain character

Saturday, December 16th, 2006

John Mackie
Sun

Early 1930s postcard of the Hotel Georgia by Leonard Frank. The Georgia is in the foreground, with the Hotel Devonshire and the Georgia Medical Arts building behind it.

The grand old dame of Vancouver hotels, the Hotel Georgia, is facing redevelopment. Photograph by : Ian Lindsay, Vancouver Sun

The lobby fireplace in the Hotel Georgia in the late 1920s, with the original furnishings. Sun archives

The Hotel Georgia lobby the way it looked back when the hotel opened in 1927. Sun archives

The Hotel Georgia lobby today, a few weeks before it will be closed for renovations. Ian Lindsay photo

A vintage shoe shine stand in the Hotel Georgia basement. The frame is made of oak, the base has a marble facade, and there are six brass foot stools to place your feet on. Ian Lindsay photo

The vintage brass Cutler mailing system at the Hotel Georgia. Note the mail box is labeled Royal Mail Canada, the 1927 name of Canada Post. Ian Lindsay photo

Artist’s conception of a proposed $350 million to $400 million development of the Hotel Georgia and 699 Howe. The 12-storey Georgia will become an elite boutique hotel, and the condo/office tower in the background will be 48 storeys high, with condos that will likely sell in the $1 million range. Image courtesy of the Delta Group

The Hotel Georgia will close Jan. 2. When it reopens in three years, it will be totally different.

The 12-storey hotel will be renovated and turned into a high-end boutique hotel, like the Wedgewood and the Opus. A 48-storey condo/office tower will rise next door to a height of about 150 metres, making it one of the tallest buildings in Vancouver.

“I think the value of the project is going to be well in excess of $350 or $400 million,” says Bruce Langeris of Delta Group, which owns the property along with Goodman Real Estate of Seattle. “It’s a big project.”

He’s not kidding. The public parts of the Georgia — the exterior facade, wood-panelled lobby and legendary basement bar — will be restored and retain their original character. The ballroom upstairs will be taken apart piece by piece so that seismic upgrading can be done, then reassembled. But the ballroom will be larger when it’s reopened, and the original promenade on the mezzanine beside the ballroom will be restored.

The big changes will be in the upstairs rooms, which are small by today’s standards. The rooms will be demolished and rebuilt to a modern luxury-hotel standard.

“We’ll reduce the hotel from 313 rooms, which are small, to 200 rooms, plus or minus,” says Langeris.

“Our goal is to create a boutique hotel … and that it will lead the market in Vancouver, from a hotel perspective, in terms of rates and occupancy. We look at the Opus and the Wedgewood, which really set the standard in terms of rates achieved, and we think we can offer what they have and more in terms of presence and amenity and location.”

The Georgia is now operated by the Crowne Plaza chain, but another hotel management chain will likely take over. W Hotels was rumoured to be interested, but all Langeris will say is that his company is still looking.

“We had been in discussions with a major hotel group that sort of took the approach that it was a very upfront hotel with a flashy brand name,” he says.

“[But] we want a hotel management group that will respect the Hotel Georgia, as opposed to the Hotel Georgia brand and history being pushed into the back and some flashy other name being prominently placed.”

Delta Group and Goodman bought the Georgia and the condo site a year ago for $62.8 million. The previous owner had another tower designed by architect Bing Thom, which created a stir when Thom successfully campaigned to make it higher.

Thom is no longer on the project, and his controversial “crystal tower” has been replaced by another striking highrise designed by Jim Hancock and Hilda Heyvaerts of Hancock-Bruckner IBI. Malcolm Elliot and Allan Endall of Endall Elliot are the architects working on the Hotel Georgia restoration.

The project goes to the city’s development permit board Feb. 26. Plans for the tower include 35 stories of residential with 156 condos, eight storeys of offices and seven storeys of underground parking.

The condos won’t be cheap: Langeris anticipates them going for $1,200 to $1,500 a square foot, which means a 1,000-square-foot condo would be $1.2 million to $1.5 million. Marketing should start next spring or summer, with occupancy in 2010.

“Everybody keeps raising the bar in Vancouver about what the quality is,” he says.

“Now it’s our turn to see how we can do that.”

After eight decades in business, the Hotel Georgia will close its doors Jan. 2.

But it won’t be knocked down. The venerable civic landmark is part of a $350- to $400-million development that will see the hotel renovated and restored, and a new 48-storey condo/office tower built next door. If everything goes according to plan, it should reopen in time to serve tourists for the 2010 Olympics.

Developer Bruce Langeris of Delta Group is planning a huge New Year’s Eve bash with musical acts on multiple floors. Between 600 and 800 people are expected to attend, with tickets selling for $150 and profits going to charity.

It’s fitting to have a big party to bid the old hotel adieu for a few years, because for most of its life, the Hotel Georgia was the party hotel in Vancouver.

Generations of Vancouverites had their first beer in the basement beer parlour, a favourite drinking spot for University of B.C. students for decades. When Errol Flynn came to town in 1959 for a week-long binge that ended with him dying in a West End apartment, his local “friends” propped him up at the Georgia lounge so that everyone would see him.

The Georgia was where Elvis stayed, where Frank Sinatra stayed and where the Beatles were supposed to stay.

Why? Because it was the entertainers’ hotel. The late, great promoter Hugh Pickett always put his acts in the Georgia, partly because longtime manager Bill Hudson was very accommodating, partly because Hudson earned Pickett’s gratitude by allowing Nat King Cole to book a room there in the early 1950s — the first time a black person was allowed to book a room in any of the major downtown hotels.

“There came a time when I thought, the black artists, we’ve got to do something,” Pickett recalled in Sean Rossiter’s 1998 coffee-table book, The Hotel Georgia (Douglas and McIntyre).

“I said to Bill [Hudson], why don’t you take a chance? Why not just do it quietly? You don’t have to put it in the paper. Nat King Cole was the test case. If anybody noticed — and how could Nat King Cole in the Georgia lobby have gone unnoticed? — nobody complained.”

Of course, entertainers also liked to stay at the Georgia because it was a hop, skip and a jump from the downtown nightclubs where they played.

“You could just walk up the alley from the Cave,” says local big band legend Dal Richards. “Out the dressing room, up the alley and here they were.”

The entertainers generally booked themselves into the corner suites, which were larger one-bedrooms and could be used for entertaining. When Elvis played Empire Stadium on Aug. 31, 1957, he stayed in room 1226 at the Georgia, at the southwest corner of the top floor.

“It was called the Lord Stanley suite, like Stanley Park,” says the great rock and roll DJ Red Robinson.

“I was up in the room with him for a couple of hours. It was a big room, and there was a nice lady there with him. Not his mom — Gladys didn’t travel on that trip. And a couple of huge guys who looked like fullbacks on a football team who were around the door.”

Elvis’s room has been combined with several other rooms to make a suite. Richards worked as the Georgia’s director of sales in the ’70s, and recalls the suite had a secret.

“There used to be a bar up here,” he says.

“It had the damndest thing. I don’t know who installed it or why, but behind the bar there was a button you could press, and that would flush the men’s toilet. If you were sitting there [on the toilet] you didn’t know what was happening. What sort of imagination had that installed, I can’t imagine.”

The Beatles booked the 12th floor when they played Empire Stadium on Aug. 22, 1964. But word leaked out and thousands of kids camped out on the sidewalks around the hotel. So the Beatles decided to cancel their reservation and drove to Seattle after the Empire Stadium gig.

The Georgia played host to royalty in 1927, when the Prince of Wales stayed there. (He later went on to become King Edward VIII, but abdicated the throne to marry divorcee Wallis Simpson.) Hollywood royalty such as John Wayne, Bob Hope, Marlene Dietrich, Ginger Rogers, Sir Laurence Olivier, Katharine Hepburn and Bette Davis were far more common.

Dancer Rudolph Nureyev stayed there, as did boxers Muhammad Ali and Rocky Marciano. You could go on forever rhyming off the musicians who rented a room at the Georgia, from Bing Crosby and Louis Armstrong to the Rolling Stones, Lawrence Welk and Tommy Dorsey.

“The Las Vegas shows were always tested on the Canadian market at the Cave Supper Club, because the Canadian audiences in those days were very hard to arouse,” says John Hykawy, 62, who has been bellman at the Georgia since April 8, 1966.

“If they aroused us here, Hollywood knew they had a million-dollar show.”

Errol Flynn didn’t stay in the Georgia during his last week on earth. But Norman Young says everybody in the city knew that he was drinking there.

“He drank right on the street in the Cavalier Room,” says Young, the retired head of UBC’s theatre department.

“The business it did was unbelievable, because everybody wanted to be drinking in the same place as Errol Flynn. What’s fantastic is when Errol Flynn went to the toilet in the basement, God, the place was full. All of them standing in a line at urinals trying to get a peek at poor old Errol. It was amazing.

“I’ll tell ya, you’ll meet a million guys in Vancouver my age [he’s 80] who all have peed at the same time as Errol Flynn.”

Has he?

“Yes, of course,” he laughs. “God, his face was like a crushed rose, just so red, the veins were so broken and everything.”

The Georgia opened its doors on May, 7, 1927, at the height of the optimism that accompanied the Roaring Twenties. It was quite a year: Charles Lindbergh flew across the Atlantic, Babe Ruth hit 60 home runs and Al Jolson’s “talking picture,” The Jazz Singer, changed movie history. Vancouver’s most opulent theatre, the Orpheum, would also open that year, on Nov. 7.

The Georgia’s first owner was Henry Tobin, a war hero who apparently earned the undying gratitude of his troops by refusing to send them on a suicidal charge during the First World War (they later called themselves “Tobin’s Tigers”).

The Georgia was designed in the Georgian Revival style by local architect Robert Garrow and Seattle architect John Graham. The 12-storey hotel featured 320 rooms, a ballroom done up in an Aztec motif and a basement tavern with arched entrances that evoked olde England.

It was reputed to be the first Vancouver hotel to feature bathrooms for every room. The construction cost was $1.5 million, and the deluxe furnishings brought the bill up another $1 million, making it the swankiest hotel in the city.

The Vancouver Sun marked the opening with a six-page special Hotel Georgia Edition, and the opening gala was a swish reception featuring 200 local bluebloods. Entertainment was by the hotel’s own big band, Frank Stuart’s Hotel Georgia Orchestra.

Radio station CKWX set up shop on the 12th floor in 1927, and did live broadcasts of another big band, Harry Pryce and His Hotel Georgia Orchestra. But the radio station the Georgia is most associated with is CKNW, which had studios on the mezzanine floor for decades. Jack Webster did his broadcasts from the Georgia.

Many entertainers staying in the hotel, such as Hollywood bombshell Jayne Mansfield, dropped by NW’s studios to be interviewed.

Bellman Hykawy vividly recalls Mansfield’s short stay.

“She was very quiet and very diminutive,” he says.

“Apparently she had an I.Q. of 163. But she caused us a lot of problems. It’s a long story . . . something about her giving away all our blankets to an Indian tribe in North Vancouver, and letting her miniature poodles run around her suite urinating. Of course, the carpet was ruined, but she never paid us for that.”

The big to-do, however, was when a local native chief who had been partying with Mansfield didn’t come home. His irate wife phoned in the morning, threatening to tell the media, so the staff went through every room on the 12th floor until they found him. (No, he wasn’t with Mansfield.)

A lot of alcohol has been consumed at the Georgia. Both Dal Richards and Norman Young had their first drinks there.

“From the ’20s and the ’30s to the ’40s and the ’50s, all the elite at UBC went to the Georgia or the Devonshire [next door] to drink,” Young says.

“It was the place to go, during classes or in the evening. I spent more time in the Georgia than I did in class while I was at university, I can tell you that.”

In the Georgia’s early days, the basement beer parlour was divided into a “ladies and escorts” section and a male-only section. Young says enterprising young men could get around this by inviting somebody’s sister out along with a group of five or six male “escorts.” Once you were inside, there were lots of single women, so sis was sent home.

Young was once banned from the Georgia for six months.

“I was playing around with this woman, with my back to the door,” he recounts.

“I was entertaining this woman, juggling with oranges. We were getting along fine, and all of a sudden she got this look on her face and started arguing with me. Then she picks up her purse and she takes this swing at me.

“I duck and it hit Bill Phoenix the manager right on [the face], broke his glasses. That’s why I was banned. What had happened was, her husband was coming in the door.”

The basement beer parlour later became the Vancouver Press Club and the Chameleon Room, but hasn’t been open for a few years. The lounge where Errol Flynn drank is closed as well. But new owner Bruce Langeris is intent on reviving them, and the hotel. If he has his way, when it reopens in 2010 the Hotel Georgia will once again be the premier hotel in town — and the best place to have a drink.

© The Vancouver Sun 2006

 

Location matters as a choice of lifestyle

Saturday, December 16th, 2006

Keep in mind that where a property is situated will dictate your quality of life, realtors advise

Pedro Arrais
Sun

‘Proximity to the arts and theatre’ Put Julie Swain and husband, Harry, in their home in the Victoria neighbourhood of Rockland.

New home shoppers will invariably hear the mantra: location, location, location. This time-worn cliche sung by realtors everywhere does have the ring of truth as the location of a property often is the most important factor that determines the desirability — and value — of a piece of real estate.

“You can change everything about a house — but you cannot change its location,” says Mark Lawless, a realtor with Re/Max Camosun, Victoria. Lawless always recommends purchasing with location in mind, especially if clients are thinking of it as an investment.

“In a market downturn a house in a good location will be well insulated [financially],” says Lawless. He says that a good location usually means that a property will sell sooner than a less-desirable house, even if they are in the same neighbourhood.

But choosing the right location is not the only consideration a buyer should be thinking of, he says.

“Although purchasers think that they are just buying a house, in reality they are buying a lifestyle that is associated with the location of their new home,” says Lawless. An example would be a downtown condo-dweller who likes long walks along the water every day. This person would not be happy in a house that is located in an inland subdivision with no trails — no matter how desirable the area.

“The location of a property dictates a lifestyle choice. It’s not about the structure,” says Lawless, a 20-year veteran of real estate.

Newcomer Julie Swain agrees. “You cannot separate lifestyle and location. We bought where we did because of our proximity to the arts and theatre.

“That’s our lifestyle — and that dictates our location,” says Swain, 67, of her new home in the Victoria neighbourhood of Rockland.

Swain says she was impressed with the construction quality of her new three-bedroom, 4,500-square-foot house with a small garden. She and her semi-retired husband Harry, 64, moved here from Toronto two years ago. They bought as close to downtown as they could afford so that they could walk and cycle everywhere, Swain says.

The location of a condominium within a building can affect its desirability and value as well. Lawless says that south-facing condo units, which are usually sunnier, will generally sell faster than similar units on the north side of a complex, which get less sunlight.

The only time that this is not the case is when the north side has a desirable feature, such as views.

A desirable location is usually the first thing that developers look for as well.

“When I look at building a house in an area, I take into consideration things like the quality of the neighbourhood, being close to amenities such as schools, shopping and transportation,” says builder-developer Mike Miller. “I would rather spend more than be price-point driven.”

A desirable house can offer intangible benefits beyond the bricks and mortar. Miller, who has two school-aged children, says that he chose to live in Oak Bay because it was easy and safe for his children to walk to school.

Realtor John Daviss likens the purchase of a house in an undesirable location to musical chairs. “You don’t want to be the guy standing up when the music stops,” he says.

In a hot market, a bad location is readily overlooked, Daviss says, but in a regular or cool market, a house in a poor location is hard to move. He says that most bad locations have issues concerning traffic or noise. “Obviously a house located beside the Trans-Canada Highway would fall into this category,” says Daviss.

Purchasers should also be aware of properties that are in the flight path of air traffic. Daviss remembers one property that was adjacent to the airport that “made my bones rattle” whenever a jet took off. The vendor referred to the air traffic as “my own private air show.”

Noise created by humans is easier to rectify because most municipalities have a noise bylaw.

“It is a challenge if neighbours have different lifestyles,” says Lorne Fletcher, bylaw enforcement officer for Langford. He attends to complaints against “party houses” where loud music and frequent loud parties are the norm. If the tenants of the rental house do not comply by reducing the volume of their stereos, he has the option of issuing a fine against them or the landowner.

A messy house and yard can sour a neighbourhood and devalue property values. Municipalities have unsightly-premises bylaws to address situations where people leave junk cars, boats and other items in their yards.

© The Vancouver Sun 2006

 

Kitsilano’s former Black Swan building to be demolished by developer

Saturday, December 16th, 2006

Cheryl Rossi
Sun

Attenuated pulls will prvide acces to a Black Swan apartment storage space. Buyers will chose between two laminate finishes on the doors, a dark Wenge or a lighter brown. The OrcaWest development company will install kitchen sinks and faucets from Kindred.

“… At least simething good came of it, * the developer says of the lengthy regulatory process before demolition – an observation equally germane to the Black Swan specs.

A historic Kitsilano building will be demolished in the next three to six months unless city staff can find it another home.

Although the city, its Heritage Commission and the developer debated options to retain the structure — known as the home of the beloved but defunct Black Swan Records at Fourth and Bayswater, they could not reach an agreement to preserve it at that location.

Staff recommended city council allow the developer, Orca West Developments, to proceed with the regular development permit process. Council voted Jan. 19 unanimously in favour of doing so.

As a result, Leo Cooper, his two roommates and the young family across the hall will be looking for new homes.

Cooper has occupied one of the building’s second floor apartments for eight years and has lived in the neighbourhood for 25.

“A great swath of Fourth Avenue has been sterilized and economically cleansed of the young families, students, seniors, writers, actors, artists and especially many of the small business entrepreneurs who gave life to this funky part of town,” he told city council at the Jan. 19 meeting.

Cooper argued the developer should be permitted to build a taller building on the site, complete with lower priced units, so the historical building at 2936 West Fourth Ave. could be retained. “A high-rise is perfectly acceptable as long as it’s affordable for some people,” he said.

City staff will look into relocating the building or its facade.

© The Vancouver Sun 2006