Archive for January, 2009

Current property decline won’t last long: Rennie

Sunday, January 25th, 2009

‘Now is time to buy undervalued property as financial blowout will be done by next September’

John Bermingham
Province

The city’s most famous realtor is predicting that the current property slowdown in home sales won’t last long, and that now is the time to buy undervalued property.

Bob Rennie told The Province Friday that low mortgage rates, which have dipped below five per cent, make it a great time to buy.

“I think there’s some really good buys out there,” he said. “You’ve got to look at interest rates, and take advantage of them.” The financial and corporate blowouts will be done by next September, he predicted, arguing that developers have reacted quickly to the downturn and are now eager for an upturn.

“Supply is really going to quickly show that the tap’s been turned off,” said Rennie. “I think we’ll come out of this in 2010.” For sellers, Rennie suggested that it’s better to sit tight.

“If you don’t have to sell, wait till the market stabilizes,” he said. “If you want to give yours away and buy a good buy in this market, that’s another decision.” B.C.’s property developers remained optimistic Friday at the annual Urban Development Institute forecast lunch, predicting a market turnaround in the late fall.

More than 1,100 of them packed into a Vancouver hotel to hear from the experts where the property market is headed in 2009.

Veteran property developer Michael Audain predicted the current lower prices won’t remain so for long.

Sales volumes of homes will pick up in the spring, Audain suggested. Prices will rise, too, he said, although he couldn’t say when.

“Today, the Vancouver housing market is in a cyclical correction characterized by low volume and weak prices,” said the founder of Polygon Homes.

“I do not believe it is a housing recession. The problem we face in Vancouver is primarily a serious loss of consumer confidence.” Audain stressed B.C.’s fundamental value as a desirable place to live in the world.

“The year ahead will pose great challenges for us,” he told developers. “But for homebuyers, it should be a year of remarkable opportunity.” Fellow Vancouver developer Rob Macdonald noted that the 2010 Winter Olympics will soon be advertised in the world’s media.

“We need to make the best of this Olympic opportu-nity,” said Macdonald. “We want to be the place where people travel and invest.” Prices should firm up from last year’s declines, he said, and will start to go back up.

“We are going to see a pent-up demand forming over the next 12 months,” he said.

B.C. residential sales fell 31 per cent last year, to their lowest level since 2000, and December sales were off 49 per cent.

“I expect that, while the economy is going to be weaker in 2009, real-estate sales will be higher than 2008,” said Cameron Muir, chief economist with the B.C. Real Estate Association.

“While we’ve seen prices decline, the rate of decline has been slowing. If that trend continues, home prices should firm up over the next couple of months.” Muir said the oversupply of available homes is pushing prices downward, but that could redress in the spring, paving the way for higher home prices.

“Homes today are more affordable than any time in the last two years, and affordability is a tremendous signal for potential homebuyers who’ve been sitting on the fence,” he said.

CMHC regional economist Carol Frketich sees a slower economy in 2009, and she predicts Greater Vancouver home prices will fall about 10 per cent this year, with an average price of $535,000, compared with last year’s $593,767.

“In 2009, the outlook is not rosy, but things will improve,” said Frketich. “Things will improve in 2010, but the housing market could lag the economic growth.” [email protected]

© Copyright (c) The Province

 

It promises to be the year of the netbook

Saturday, January 24th, 2009

Gillian Shaw
Sun

S121, ASUS

MINI 2140, HP

From a standing start in 2007 to projected sales of 50 million mini-notebook computers this year, the “netbook” is taking over as the new must-have tech toy for 2009.

And while it’s small enough to look like a toy computer, it’s a powerful business tool, with wireless Internet built-in for anywhere, anytime computing.

In its predictions for 2009, Deloitte says we can expect to see the tiny notebooks popping up as giveaways or heavily subsidized offerings — like cellphones are now — as companies seek to woo cash-strapped consumers.

Whether low-cost or no-cost, if you are new to netbook computers there are a few things you should know before you tuck one into your purse or knapsack.

– It is not your desktop computer; it is not even your laptop. It delivers well on its limited range, but don’t throw away your desktop computer and wonder why you can’t load humongous programs onto your tiny netbook.

– As a companion computer for your heftier notebook or desktop, it gives you mobile computing with built-in WiFi, usually Bluetooth. Many have Web cams built in, as well as stripped down offerings that make it best for e-mail, Web surfing, uploading photos or videos to an online site, and other simple tasks.

– Learn to love the cloud. Netbooks rely on “cloud computing” — that is, applications that you access online instead of loading onto your computer hard drive. Think Google docs, online photo editing — whatever task needs doing, likely there is an online offering, often free, that will fit the bill.

– Small is beautiful — losing the weight is great for your health. Most of the netbooks are in the one-kilogram (two-pound) range. Your chiropractor and physiotherapist will thank you.

– Decide what is most important to you and read the specs, not just the price. Try out the various models. Is an eight-inch screen enough for you? They range up to 12.1-inches with Asus’ new S121. Try out the keyboards — the handiest, smallest models also have keyboards to match, so if you are all thumbs and you’re defeated by your BlackBerry, consider one with a keyboard closer to what you’re used to.

– Check battery size. Three-cell tends to be standard, but for computing on the go, you might opt for the longer lasting six-cell. In Canada, most netbooks start around $350 and go up depending on features. The Consumer Electronics Show earlier this month showcased some of the latest offerings in netbooks, among them:

S121, ASUS

From netbook pioneer Asus — which first launched the successful Eee PC, a netbook that the Royal Bank gave away as an incentive to new customers for a while — is the senior sibling, the S121. With a 12.1-inch screen and weighing 1.45 kg with a hefty (for a netbook) hard

drive storage of 250 GB, it’s more of a hybrid than some of the smaller, less-powerful netbooks. For many computer users, it may be all they need. www.asus.com

MINI 2140, HP, FROM $500 US

With a 10.1-inch screen, the new HP mini-notebook fits in the range of LG’s X110 — slightly larger than the smallest netbooks, and at 1.19 kilograms a bit heavier. If you find yourself squinting too much at the smaller screen, consider going with a 10-inch. Price depends on the model: More storage and more memory come in the higher-priced versions, but all three in the lineup have WiFi, Bluetooth and build-in cameras. www.hp.com

© Copyright (c) The Vancouver Sun

 

Were you burned by the assessment ‘freeze’?

Friday, January 23rd, 2009

Our data will make it easy to determine if you should consider appealing

Don Cayo
Sun

Exclusive data allow owners to determine if the assessment on their home or business is fair and whether they should appeal. Photograph by: Glenn Baglo, Vancouver Sun

Win, lose or draw? Until now, there was no way to figure out how this year’s property assessment roulette will end when your tax bill finally arrives in July.

Now The Vancouver Sun is providing exclusive data, in this column and on our website, that make it easy to determine if the assessment for your home or your business is fair, or if you should consider appealing it.

Today’s column focuses on homes. I’ll be writing again on Saturday about the implications for businesses, many of which have a lot more money at stake.

The difficulty stems from a provincial decision to base 2009 property taxes on the lower of the last two annual assessments. Now, at The Sun’s request, BC Assessment has calculated the average impact in places across the province. By comparing the reduction in your assessment to the average in your community, you can tell if you have a lesser break, an equal break or a better break than others.

B.C. real estate prices have dropped in recent months, but many properties were holding their value, even gaining, in July when the second of these two assessments was done. Thus, for well over 80 per cent of all property owners, the lower of the two assessments is the one from 2007.

This means most tax bills will be based on lower values than they would have been without the intervention. But it doesn’t mean most tax bills will be lower.

The key is, how does your assessment compare with others in your community? If it went down by the average amount, the impact on your tax bill will be nil. If it dropped more than average, you’ll pay less than you would have. And if it dropped less than average or came in higher than in 2007, you’ll pay more.

Let me offer my own example.

The assessment for my West End condo in Vancouver is just one per cent less than it would have been without the provincial meddling. Meanwhile, Vancouver residences as a whole are reduced 6.25 per cent on average.

In other years, the biggest tax increases hit those whose property gains the most. So there’d be a break for me and my neighbours whose property values are similarly stalled. And for many other neighbourhoods — much of east Van, for example — that are also below average. (In general, “affordable” properties and neighbourhoods lost value first, so they’re most apt to lose as a result of this policy.)

But this year, thanks to the provincial meddling, the breaks go to the ritziest homes and neighbourhoods — to owners of the properties that gained the most in value. This isn’t fair. Yet — despite government lip-service to tax fairness — the odds of winning an appeal are anybody’s guess. It’s uncharted territory.

Usually appeals hinge on one thing: does the assessment reflect fair market value? But fair market value is no longer the point: the 2009 assessments are the product of political manipulation.

It’s quite right to argue that if this gives others a big break, it’s only fair that you get one too. But can you convince the politically appointed panel of amateurs who hear the appeals? Who knows?

Even without this uncertainty, I suspect many homeowners won’t bother to appeal when they factor in what they might win — in my case, about $150 — and what their time is worth.

Certainly the number of appeals seems likely to be down. Assessment experts like Paul Sullivan of Burgess Cawley Sullivan tell me they’re busy with regular customers, but not so many new ones. And BC Assessment says it has seen fewer appeals so far than in a normal year.

“People won’t understand how hard they’re hit until their tax bills arrive in July,” Sullivan said. And, with a Feb. 2 deadline to file an appeal, “that will be too late.”

The average percentage of reduction in residential assessments around the Lower Mainland and the Capital Region is in the single digits. Since the size of the hit depends on the gap between the change in your assessment and the average number, I’m guessing this policy won’t hit many of the region’s homeowners with extra costs of more than a few hundred bucks.

The story may be different in the Okanagan and the Interior. There, average changes are typically in the double digits and, in places like Revelstoke, Sparwood and Cranbrook, over 20 per cent.

If you own property in one of these communities, or if you’re one of the relative handful with a property that decreased in value between July 2007 and July 2008, you could potentially be hit hard.

Sullivan reckons that each percentage point of spread between your “break” and your community’s average will add roughly one per cent to your tax bill when it arrives in July. So if the figure is four per cent for your assessment and 10 per cent for the average, your bill will be about six per cent higher — $120 on a $2,000 bill — than it would have been without provincial interference.

Homeowners will have to look at their own numbers to decide if it’s worth appealing. But businesses face much larger costs, especially in the Lower Mainland. More on that Saturday.

HOW YOU COMPARE

The table on this page may be enough to let you figure out if you’ll fare well or be hammered by the change to property assessment practices this year.

Homeowners from outside the Lower Mainland and business owners should consult The Sun’s interactive web page. It lists averages for both business and residences in most B.C. communities, and it includes a calculator to help you figure out the percentage of change on your property.

However, if you know this number and if you have a residential property in the Lower Mainland, all you have to do is check the chart on this page and compare your percentage to the average for your community.

If the two figures are nearly the same, the new policy will have no impact on you. Your tax bill will be close to what it would have been without the new rules. (This doesn’t mean it will be the same as last year — that depends on whether your council increases or controls its spending. And it’s a safe bet they’ll increase it.)

If the change in your property’s value was less than average, you’ll pay more than you would have. And if your change was more than average, you’ll get a break. In both these cases, the wider the gap the greater the impact.

SHOULD YOU APPEAL YOUR PROPERTY ASSESSMENT IN LIGHT OF THIS YEAR’S ‘FREEZE’?

In a normal year, homeowners whose property went up in value faster than others in their city would end up with a bigger-than-average increase in their municipal tax bill. But this year the B.C. government decided to allow property owners to use the lower of the last two year’s assessments as the basis for their 2009 property tax bills.

That means — for this year only — homeowners whose property values went up faster than average are actually better off than those with more modest increases. To find out whether you’re better or worse off under the assessment changes — and to help you decide whether or not you should appeal — follow these two easy steps.

STEP 1

Calculate the percentage increase or decrease for your own property assessment between July 1, 2007 to July 1, 2008, using the assessment notices you received from BC Assessment. To calculate the increase/decrease, subtract your July 1, 2007 property assessment from your July 1, 2008 assessment. Then divide that number by your July 1, 2007 assessment and multiply that number by 100. For example, if your 2007 assessment was $500,000 and your 2008 assessment was $550,000, the math would work like this:

$550,000 – $500,000 = $50,000

$50,000 / $500,000 = 0.10 x 100 = 10%

STEP 2

Look up your municipality in the accompanying chart to see what the average property-value increase was in your community. If the increase in your assessment is greater than the average, you’re better off than most. However, if your increase is smaller than average, you are worse off as a result of the policy change. If the value of your property actually went down between 2007 and 2008, you are particularly worse off. You have until Feb. 2 to file an appeal to BC Assessment, which you can do online or by going to your local assessment office.

© Copyright (c) The Vancouver Sun

Were you burned by the assessment ‘freeze’?

Friday, January 23rd, 2009

Our data will make it easy to determine if you should consider appealing

Don Cayo
Sun

Exclusive data allow owners to determine if the assessment on their home or business is fair and whether they should appeal. Photograph by: Glenn Baglo, Vancouver Sun

Win, lose or draw? Until now, there was no way to figure out how this year’s property assessment roulette will end when your tax bill finally arrives in July.

Now The Vancouver Sun is providing exclusive data, in this column and on our website, that make it easy to determine if the assessment for your home or your business is fair, or if you should consider appealing it.

Today’s column focuses on homes. I’ll be writing again on Saturday about the implications for businesses, many of which have a lot more money at stake.

The difficulty stems from a provincial decision to base 2009 property taxes on the lower of the last two annual assessments. Now, at The Sun’s request, BC Assessment has calculated the average impact in places across the province. By comparing the reduction in your assessment to the average in your community, you can tell if you have a lesser break, an equal break or a better break than others.

B.C. real estate prices have dropped in recent months, but many properties were holding their value, even gaining, in July when the second of these two assessments was done. Thus, for well over 80 per cent of all property owners, the lower of the two assessments is the one from 2007.

This means most tax bills will be based on lower values than they would have been without the intervention. But it doesn’t mean most tax bills will be lower.

The key is, how does your assessment compare with others in your community? If it went down by the average amount, the impact on your tax bill will be nil. If it dropped more than average, you’ll pay less than you would have. And if it dropped less than average or came in higher than in 2007, you’ll pay more.

Let me offer my own example.

The assessment for my West End condo in Vancouver is just one per cent less than it would have been without the provincial meddling. Meanwhile, Vancouver residences as a whole are reduced 6.25 per cent on average.

In other years, the biggest tax increases hit those whose property gains the most. So there’d be a break for me and my neighbours whose property values are similarly stalled. And for many other neighbourhoods — much of east Van, for example — that are also below average. (In general, “affordable” properties and neighbourhoods lost value first, so they’re most apt to lose as a result of this policy.)

But this year, thanks to the provincial meddling, the breaks go to the ritziest homes and neighbourhoods — to owners of the properties that gained the most in value. This isn’t fair. Yet — despite government lip-service to tax fairness — the odds of winning an appeal are anybody’s guess. It’s uncharted territory.

Usually appeals hinge on one thing: does the assessment reflect fair market value? But fair market value is no longer the point: the 2009 assessments are the product of political manipulation.

It’s quite right to argue that if this gives others a big break, it’s only fair that you get one too. But can you convince the politically appointed panel of amateurs who hear the appeals? Who knows?

Even without this uncertainty, I suspect many homeowners won’t bother to appeal when they factor in what they might win — in my case, about $150 — and what their time is worth.

Certainly the number of appeals seems likely to be down. Assessment experts like Paul Sullivan of Burgess Cawley Sullivan tell me they’re busy with regular customers, but not so many new ones. And BC Assessment says it has seen fewer appeals so far than in a normal year.

“People won’t understand how hard they’re hit until their tax bills arrive in July,” Sullivan said. And, with a Feb. 2 deadline to file an appeal, “that will be too late.”

The average percentage of reduction in residential assessments around the Lower Mainland and the Capital Region is in the single digits. Since the size of the hit depends on the gap between the change in your assessment and the average number, I’m guessing this policy won’t hit many of the region’s homeowners with extra costs of more than a few hundred bucks.

The story may be different in the Okanagan and the Interior. There, average changes are typically in the double digits and, in places like Revelstoke, Sparwood and Cranbrook, over 20 per cent.

If you own property in one of these communities, or if you’re one of the relative handful with a property that decreased in value between July 2007 and July 2008, you could potentially be hit hard.

Sullivan reckons that each percentage point of spread between your “break” and your community’s average will add roughly one per cent to your tax bill when it arrives in July. So if the figure is four per cent for your assessment and 10 per cent for the average, your bill will be about six per cent higher — $120 on a $2,000 bill — than it would have been without provincial interference.

Homeowners will have to look at their own numbers to decide if it’s worth appealing. But businesses face much larger costs, especially in the Lower Mainland. More on that Saturday.

HOW YOU COMPARE

The table on this page may be enough to let you figure out if you’ll fare well or be hammered by the change to property assessment practices this year.

Homeowners from outside the Lower Mainland and business owners should consult The Sun’s interactive web page. It lists averages for both business and residences in most B.C. communities, and it includes a calculator to help you figure out the percentage of change on your property.

However, if you know this number and if you have a residential property in the Lower Mainland, all you have to do is check the chart on this page and compare your percentage to the average for your community.

If the two figures are nearly the same, the new policy will have no impact on you. Your tax bill will be close to what it would have been without the new rules. (This doesn’t mean it will be the same as last year — that depends on whether your council increases or controls its spending. And it’s a safe bet they’ll increase it.)

If the change in your property’s value was less than average, you’ll pay more than you would have. And if your change was more than average, you’ll get a break. In both these cases, the wider the gap the greater the impact.

SHOULD YOU APPEAL YOUR PROPERTY ASSESSMENT IN LIGHT OF THIS YEAR’S ‘FREEZE’?

In a normal year, homeowners whose property went up in value faster than others in their city would end up with a bigger-than-average increase in their municipal tax bill. But this year the B.C. government decided to allow property owners to use the lower of the last two year’s assessments as the basis for their 2009 property tax bills.

That means — for this year only — homeowners whose property values went up faster than average are actually better off than those with more modest increases. To find out whether you’re better or worse off under the assessment changes — and to help you decide whether or not you should appeal — follow these two easy steps.

STEP 1

Calculate the percentage increase or decrease for your own property assessment between July 1, 2007 to July 1, 2008, using the assessment notices you received from BC Assessment. To calculate the increase/decrease, subtract your July 1, 2007 property assessment from your July 1, 2008 assessment. Then divide that number by your July 1, 2007 assessment and multiply that number by 100. For example, if your 2007 assessment was $500,000 and your 2008 assessment was $550,000, the math would work like this:

$550,000 – $500,000 = $50,000

$50,000 / $500,000 = 0.10 x 100 = 10%

STEP 2

Look up your municipality in the accompanying chart to see what the average property-value increase was in your community. If the increase in your assessment is greater than the average, you’re better off than most. However, if your increase is smaller than average, you are worse off as a result of the policy change. If the value of your property actually went down between 2007 and 2008, you are particularly worse off. You have until Feb. 2 to file an appeal to BC Assessment, which you can do online or by going to your local assessment office.

© Copyright (c) The Vancouver Sun

 

Wall scraps False Creek project to build rentals

Friday, January 23rd, 2009

120 buyers will get deposits back in troubled times

Derrick Penner
Sun

With condominium sales skidding to a halt, Wall Financial Corp. has decided to scrap its 414-unit Wall Centre False Creek condominium project in favour of building rental apartments on the site, company principal Peter Wall said in an interview.

In its last quarterly financial results, Wall Financial said it had sold almost 30 per cent of the Wall Centre Creek’s units, 120 in all, but that sales had come “to almost a complete stop” during the quarter.

Wall said the 120 buyers who signed up for the False Creek project, adjacent to the Olympic Athletes’ Village site, will get their deposits back while the company redesigns the project as rentals.

And the company said it won’t contemplate starting pre-sales for any new projects over the next three quarters, according to the management’s discussion and analysis statement accompanying its third-quarter financial report.

“We were a bit spoiled,” Wall said of Vancouver‘s condominium market. “[Condominiums] were just going out the door before.”

“Now I think the market for condos has been satisfied, for the present anyway, but the demand for rentals is very strong. So we thought we’d just switch to rentals.”

Wall said it wouldn’t take long to make the adjustment, but because of security restrictions for the Olympics, it would not be able to start construction until after the Games in early 2010.

In the management discussion and analysis of its last quarter’s financial results, Wall Financial said the slowdown in apartment sales caused it to halt sales on another project, its redevelopment of the building at 1212 Howe.

Wall Financial sold 109 of 150 units in the strata-titled 1212 Howe Street building, but said it would retain ownership of the remaining 41 units until the market improves.

Wall Financial is building the Wall Centre Richmond and the Capitol Residences building in downtown Vancouver. It also operates two hotels, including the Sheraton Wall Centre, as well as holding a number of rental apartments.

© Copyright (c) The Vancouver Sun

 

Developer sues condo buyers trying to back out

Friday, January 23rd, 2009

Amacon seeks damages, deposit

Derrick Penner
Sun

One Metro Vancouver developer is suing pre-sale buyers for trying to back out of their deals, in what a property law expert says could be the start of a trend as buyers grapple with falling prices and the disappearance of anticipated gains.

Amacon has filed suit against seven buyers for defaulting on their contracts to buy condominiums in its Morgan Heights development in south Surrey on purchases that were to have closed in early December.

In the writs of summons for those cases, Amacon seeks the forfeit of the buyers’ deposits and damages. And lawyer Nick Preovolos, who specializes in property law, says the damages could be substantially higher than just the deposit.

“Walking away doesn’t solve the problem,” Preovolos said, because a developer can sue for damages, and damages would be defined as the financial difference between the current market value the developer could sell for and the price the buyer agreed to pay in his contract.

If a buyer put down a $25,000 deposit, and the property sells for $100,000 less than the initial purchase price, Preovolos said the original buyer still owes the developer $75,000.

“It’s a serious liability for someone to pull out of a purchase,” Preovolos said. “They’d better have a good reason that they can argue in court.”

He said a buyer’s inability to get a mortgage to complete the purchase because the property has lost value is not a reason that a court will accept.

Preovolos said developers are often reluctant to sue clients, because that can be damaging to their reputations. At some point though, developers will act to protect their interests if they start to risk substantial losses.

And with thousands of condominium units under construction across Metro Vancouver as property values slide in a slowing market, “my guess is we would be seeing more of these cases,” Preovolos said.

Amacon official Bob Cabral said the company would not comment on any case it is party to that is before the courts.

North Vancouver lawyer John Whyte represents one of seven buyers Amacon is suing.

Amacon claims Whyte’s clients, Daniel and Jasbant McGarvie, defaulted on the purchase of a $445,000 condo in the Morgan Heights development when they didn’t complete the deal last Dec. 12 as specified in their contract.

Amacon is seeking the forfeit of the $22,245 deposit they put down to secure the unit, plus other damages.

Whyte said his clients’ defence is that they have rescinded their purchase contract, as allowed under provincial real estate regulations, because Amacon did not forward them all changes to its official disclosure statement for the Morgan Heights project.

Whyte said Amacon filed an expanded disclosure statement with the Superintendent of Real Estate, as it is required to do, but his clients did not receive the document, which contained significant new financial details about the project budget.

The McGarvies are now countersuing Amacon for return of the deposit, plus a $6,000 payment they made for a flooring upgrade.

Maureen Enser, executive director of the Urban Development Institute, said this is the first case she has heard of a developer suing buyers who have walked away from pre-sale contracts.

However, Enser does not believe stories of pre-sale buyers attempting to abandon their contracts and give up deposits will become rampant because there has been less speculation over the past couple of years.

More buyers, she said, have bought pre-sales because they want to live in the apartments and not because they expected to flip them for profit upon closing.

© Copyright (c) The Vancouver Sun

 

Lumiere undergoes a spectacular rebirth

Thursday, January 22nd, 2009

Until February, reduced prix fixe menu lets you sample at a much lower cost

Mia Stainsby
Sun

Chef Dale Mackay of the newly renovated Lumiere restaurant, with the Mosaic of Venison with Juniper Celery Root, Sweet and Sour Chesnuts and Black Truffle. Photograph by: Ian Lindsay, Vancouver Sun

2551 West Broadway, 604-739-8185. www.lumiere.ca. Open for dinner Tuesday to Sunday.

Restaurant visits are conducted anonymously and interviews are done by phone. Restaurants are rated out of five stars.

– – –

By the time we went to Lumière, we didn’t need crampons, snow shovels or road salt to walk the streets. And the pummelling from the financial markets was beginning to feel normal. But what a time for a restaurant to be born . . . actually, make that’s born again, for Lumière had another life before this complete makeover.

Lumière faltered after chef Rob Feenie left in the very messy business divorce but owners David and Manjy Sidoo pulled off a spectacular rescue, persuading rock star — pardon me, superstar — chef Daniel Boulud to oversee the kitchen. Boulud is a New Yorker with a stable of other international restaurants, but he’s living up to his reputation of being hands-on and involved in every detail.

Executive chef Dale MacKay runs the Lumière kitchen but Boulud is in communication twice a week and works with MacKay until he’s happy with every dish. Video communication allows him to see how dishes are being prepared and how they look and how they can be improved. “It’s not because we just opened. He always knows what dishes are on in each restaurant,” MacKay says.

The verdict on the food? Pretty much spectacular with a couple of nitpicks. On my first visit, there were weak spots here and there but some of the dishes were ravishing. On a second visit, the quality was more consistently amazing.

But first, something more urgent: Until Feb. 1, given the hard knocks of snowstorms, an economy against the ropes and the annual January slowdown, Lumière’s three-course prix fixe menu is selling for $58 which is an incredible bargain. However, MacKay has cut down the number of choices from each course to keep kitchen costs down. Regular prices are $98 (three courses), $135 (six courses) and $175 (nine courses). The trio of amuse-bouches, basket of about a dozen mini-madeleines and mignardise (plate of confections) will be included as usual in the discounted price.

During our dinner, nibbling his way through the piece of slow-baked Arctic char I slipped onto his plate, my partner was impressed. “This is easily the best char I’ve had. It’s like reading a good book. I just don’t want it to end,” he moaned. He talks about scotch like that but not, typically, about fish. Another gorgeously flavourful dish was the duo of triple-A beef, a seared rib-eye and red wine-braised shortrib which looked lacquered with reduced wine sauce.

Ingredients are pristine and utterly fresh (B.C. spot prawns seemed ocean fresh); presentations are visual poetry at times (beet and vodka-cured tuna with white sturgeon caviar, baby beets and horseradish cream was one of them) but other dishes need a tweak to elevate to something special (hard-to-decipher, teeny veggies linking the prawns didn’t distinguish themselves). My Redbro chicken was spectacularly tender and delicately textured and delicious but amazingly, the shaved black truffles sandwiched between the breast meat had little flavour. I got a second opinion from across my table, thinking my truffle receptors had gone dead. But he agreed. Very little flavour. In purchasing truffles, the lack of aroma should be a giveaway.

Desserts were notably superlative (cassis poached pear carpaccio-thin and fanned out, accompanied by gingerbread and brandy custard; chocolate fondant with Sicilian pistachio ice cream; chocolate mocha bar with espresso caramel ice cream).

The dining room is well staffed and servers are good at anticipating needs and are cheerful and warmer than I remember from the olden days. Napkins are not only refolded if you leave the table, they’re replaced with fresh ones. And while one might think the little tuffet for my purse by the table is twee, I actually liked not having to fold myself in half to retrieve my purse from the floor (to get my notebook and pen). The bus people do need more training (one must not walk away when the bread she places on the plate falls off and one must not mumble).

As for the room, gone is the minimalist modern look which was criticized as being too cold by some though I’ve always been partial to a cool Zen feel. It has completely warmed up, embraced in antelope and taupe shades. The entrance is a denouement — small and curtained, my closet is bigger. But the rug is so plush, it feels like thick moss, and bright artwork adds bling to the room.

Compared to the next door sibling DB Bistro Moderne, Lumière is like Bach to DB’s Rolling Stones. If you’d like a sampling of a Boulud concerto, now’s the time at an insanely good price.

© Copyright (c) The Vancouver Sun

Generation Next of Vietnamese food

Thursday, January 22nd, 2009

Mia Stainsby
Sun

Maria Huynh, owner of Chau Kitchen and Bar with dishes from the restaurant and a photo from the 1970s of her mother Chau Thi Ho Huynh and her Chau Cafe. Photograph by: Ian Lindsay, Vancouver Sun

CHAU KITCHEN AND BAR

1500 Robson St., 604-682-8020.

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I was getting very impatient. For years, I kvetched about the lack of the next generation of Vietnamese restaurant and dared to even hope for something like The Slanted Door restaurant in San Francisco, which I love.

It takes the second generation of an immigrant group to tweak and take things to the next level. In this case, it is the young Maria Huynh, who opened Chau Kitchen and Bar.

Maria’s family (excluding herself) was part of the refugee wave known as the “boat people” from Vietnam, and Huynh named the restaurant after her mother, Chau, who ran a congee cafe in an Indonesian refugee camp.

When the family arrived in Canada in the 1980s, she opened the first Vietnamese deli in Vancouver. “People in the neighbourhood would buy her meatballs so she saved enough money to open a shop,” Huynh says. Maria, who was born here, can’t imagine the hardships her parents and brothers experienced but she developed a passion for food, went to cooking school and wanted to carry on her family’s traditions.

“I want to represent Vietnamese food in a different way. I always thought someone was going to do it way before me,” she says, surprised that she’s the groundbreaker. Chau’s interior is modestly modern and service is on point. Best of all, the food is remarkable for a modestly priced restaurant. The dishes are all family recipes which she’s tweaked and she has hired the former sous chef from Mistral Bistro to add his French cooking influences.

Chau offers fantastic value. We started with a gorgeously presented prawn remoulade sitting atop persimmon “paper.” We attacked the green papaya salad which had orange zest and julienned apples giving it an even fresher feel. Basa (like a cross between sole and cod) was cooked perfectly and served with a Vietnamese caramel sauce — delicious. Specials included a delicious pork tenderloin with daikon confit and Vietnamese rice wine demi-glace. Luc la beef, sometimes referred to as “jumping beef” featured very tender beef. Huynh calls the dishes tapas but they’re too generous to really fit that category.

It’s open for lunch on weekends only thus far. But do try the pho on the lunch menu. It doesn’t get much better than this. One of the reasons is the delicious broth which is made with meat rather than bones.

© Copyright (c) The Vancouver Sun

 

Opulent tower, Shangri-La at Georgia and Thurlow, is city’s tallest building, soaring far above its neighbours

Thursday, January 22nd, 2009

A view from the top

John Mackie
Sun

Tour of the Shangri-La hotel and condominium complex offers a high-level view of a foggy Vancouver. Only six of the building’s 300 condos remain unsold, with the top price a rumoured $16 million. Photograph by: Bill Keay, Vancouver Sun

The 4,500-square-foot, two-storey ‘sky loft’ apartment is on the 51st floor.Photograph by: Bill Keay, Vancouver Sun

The hotel lobby is three storeys high and features six crystal chandeliers. Photograph by: Bill Keay, Vancouver Sun

The headlines are all doom and gloom, particularly in real estate.

Vancouver‘s signature development, the Olympic village, is in a financial crisis. Another landmark project, Jameson House, is on hold after the financing fell through. Arthur Erickson’s startling design for the Ritz-Carlton — a sleek glass tower that pirouettes in mid-air — is still just a big hole in the ground.

But there is one bit of good news in the real estate world: this Saturday, the Shangri-La will open its doors at Georgia and Thurlow downtown.

At 62 storeys and 197 metres (646 feet), it is the tallest building in Vancouver, 45 metres (146 feet) higher than the previous champ, the Wall Centre. Developed by Westbank Projects and the Peterson Investment Group, it is one of the most high-end developments ever constructed in Canada, a $300-million-plus project.

In the modern-day high-end style, it is partly a hotel, partly a condo. The first 15 floors of the building will be occupied by the Shangri-La Hotel, the first North American outlet for one of Asia‘s top luxury hotel chains. The remainder is filled with 300 luxury condos. All but six have been sold, at prices ranging from $400,000 to a rumoured $16 million for one of the three penthouses.

Monday we got a tour of the building, which is mostly finished, but is still partly under construction — the penthouses won’t be completed for another three months.

The luxury vibe starts in the lobby, which is three storeys high and features six crystal chandeliers, limestone walls and floors, rosewood panelling and plush leather club chairs.

The attention to detail is striking, as is the opulence. The washrooms in the lobby are lit by crystal chandeliers, one for each stall. The sinks are onyx and the walls are rosewood. The elevators also have rosewood walls, along with limestone floors and bronzed doors.

Many of the hotel’s coved ceilings are covered in silver leaf. When you step off the elevator to the fifth floor, home to the hotel’s spa, you’re greeted by a shimmering waterfall, a marvelous effect achieved by water rippling down over grooved granite. The hotel even comes with its own 42-seat movie theatre, which can be rented for private screenings.

Still, it isn’t over the top. The building’s architect, James Cheng, said they were going for an “understated” opulence, rather than a glitzy one.

“We hope to do a sort of timeless [design], a Pacific Northwest kind of understated opulence,” said Cheng. “Something that will look good 50 years from now.”

Cheng said it was a challenging project, because the site was constrained by the city’s “view corridor” policy, which stipulates that mountain views must be retained from certain areas.

“We have a site 700 feet long, and we could only build on the last 100 feet of it for the tall building,” relates Cheng, who has designed several high-profile skyscrapers in Vancouver, including the Shaw Tower.

“A large part of the look is formed by the view cone. There is a 45-degree view cone that cuts across the site. This is the only portion we could build the tower, so we could preserve the view of the Lions [on the North Shore mountains]. If you go down to Leg-in-Boot Square [in False Creek] and look at the Lions, you’ll see that there’s a hole in the skyline of the city.”

Preserving the view corridor means the front of the building is on Alberni, the back is on West Georgia. The Alberni side is angled, the Georgia side is flush to the sidewalk.

“The official address is on Georgia, but we feel more people are going to be coming from Alberni,” says Cheng.

“It’s also the southern side, where the sun is, and is where all the sidewalk cafes and activity are going to be. Actually the corner of Robson and Thurlow [a block away] is the highest concentration of pedestrians in Vancouver. That’s why we oriented it that way.”

Like most recent Vancouver skyscrapers, it’s a glass tower. In this case, the glass is tinted blue.

“We tried to make it close to the sky,” says Cheng.

“There are times of the day when you look at it when it will literally disappear, blend into the sky.”

Maybe so, but it definitely stands out in the downtown skyline.

“Whether I’m driving across the Cambie street bridge, the Granville street bridge, the Burrard street bridge or the Lions Gate, I’m just in awe that I was involved in this project,” says realtor Bob Rennie, whose firm sold the condos. “Because it owns the skyline.”

Indeed. We were taken up to a 2,400-square-foot condo on the 58th floor which is still for sale (for $5.07 million). It was a foggy day, so the West End and downtown were literally covered in fog. But up on the 58th floor, it was nice and sunny — like you were above the clouds. Only the tops of the tallest buildings poked out of the fog, like ghostly apparitions, and the Shangri-La towered over all of them.

Luxury condos like this come with all the perks: marble bathrooms, Sub-Zero fridges, Miele appliances, a built-in cappuccino maker. The living room, kitchen and family room are one continuous space, which makes for a very spacious apartment, particularly with the floor-to-ceiling windows.

The hotel rooms aren’t quite as big, but also feature marble bathrooms, rosewood panelling and sumptuous furniture. The mirror in the bathrooms has a small flat-screen TV built into it. Each room comes with its own safe, and each room has a different floor plan.

“Hotels, generally speaking, like all the rooms to be the same,” says Cheng.

“But Shangri-La is a unique hotel. They want the rooms to be different, so that the customers can come back and stay in different rooms and have a different experience.”

The cost? From $345 to $3,000 per room to March 31, and from $505 to $5,900 in peak season.

Cheng checked out elite hotels across North America, Asia and Europe to figure out what to put into the Shangri-La, which hopes to achieve the coveted Mobil Five-Star rating (it won’t be rated until it opens). He then worked in tandem with other architects and design firms such as Box Interior Design (which did the hotel restaurant) and Chil Design Group (which helped with the lobby and lounge and did the hotel’s spa, which is called Chi).

“It has to be a team,” says Cheng, who is a strong contender for the youngest-looking 61-year-old on the planet.

“I consider myself like a conductor. I try to bring the best out of everybody. Just in my office there was a good 12 people at various times working on the job.”

The penthouses should be quite something: two of the three come with their own roof-top pools. To ensure the owners aren’t bothered by high winds, the large outdoor terraces are protected by three-storey-high glass “wind screens,” which look like extra floors.

(This means if you counted the tiers of windows, it would look like a 65-storey building from the ground. Except there is no fourth floor, because four is an unlucky number in Chinese culture, and there is no 13th floor, because 13 is an unlucky number in North America. So the building is actually 60 storeys high, and with the wind screens would appear to be 63 storeys from the ground.)

Cheng’s personal favourite apartment is on the 51st floor. It’s a two-storey, 4,500 sq. ft. “sky loft” that is built at the former maximum height for highrise buildings in Vancouver. You can spot it from the ground because it juts out at the corner.

“Originally the maximum height in the city was 450 feet,” he says.

“That’s why you see the top of that building there [he points to the nearby Royal Bank Tower]. We did this double-height thing, so that when people see this little bug eye sticking out, they know that’s where the city used to be.”

It is an amazing space, with nine-metre (30-foot) ceilings and a continuous living room/family room/study that seems as vast as an old railway station. The owner has customized it with a home theatre that is being built off the kitchen, and the master bedroom is as big as most downtown apartments. The views of the North Shore mountains and Coal Harbour are breathtaking, and the vista is animated by float planes, helicopters and cruise ships.

“If I were to buy one, I’d buy this,” says Cheng.

As cool as the sky-high condos are, he feels the success of the building will be how it interacts with the city at ground level.

“What was really really important to us is, ‘How can this building contribute to Vancouver?'” says Cheng.

“That’s why a lot of work was done on the plazas, the public art court, the restaurants. Everything faces the street. After awhile people don’t care how tall the building is. They only care how it feels when they walk around the building.”

Many people have already done so when they go to Urban Fare, the high-end grocery market at the west end of the project. In between the tower and Urban Fare will be a public art space managed by the Vancouver Art Gallery. A “bamboo grove” has been planted beside an outdoor staircase leading to a pair of large commercial spaces above Urban Fare that are supposed to become restaurants.

“We need places where people would sit down and have coffee, watch the sidewalk, be part of the scene,” says Cheng. “We actually have that on multi levels. The upper levels are restaurants that are connected via a sky bridge, and the glass elevator connects Urban Fare and the restaurants to public parking.

“The idea is that we want as many people circulating through the space as possible. If we don’t have restaurants and places where people would gather, it would just become a thoroughfare, it would become a no man’s land.”

© Copyright (c) The Vancouver Sun

Tempted by tandoori ‘roo

Thursday, January 22nd, 2009

SUPERB SALAM: But there were so many earthly delights