Tower rises in style in New Westminster

Province

The 18-storey interUrban tower begins with heritage-style brick at its lower levels, transitions to smooth masonry and is capped with steel and glass.

View are spectacular from the 18-storey InterUrban tower, located at Columbia and Begbie. Here, the crossings of the Fraser River and the mountains in the distance.

The suites in the family-decorated show home at InterUrban all contain quality finishings.

Granite countertops, two-tone cabinets and large floor tiles grace the bathroom and kitchen floors.

The Facts

WHAT: InterUrban, 18-storey building, 158 apartments

WHERE: New Westminster

DEVELOPER: Ballenas Project Management

SIZE: 1-bed 605 -853 sq. ft.; 1-bed + den 715 sq. ft.; 2-bed 857 -997 sq. ft.; 2-bed + den 1,078 sq. ft.

PRICES: 1-bed from $274,000; 1-bed + den from $333,000; 2 bed from $367,000; 2 bed + den $474,000

OPEN: Sales centre at 14 Begbie Street; hours noon -5 p.m. Sat –Thur

A subtle pride permeates the Inter-Urban new-home project in New Westminster — pride in the 18-storey building, but also in the neighbourhood in which it is located.

The marketing campaign goes beyond pride; it’s centred around the tag line: “I love New Westminster.”

Dan Thomson, marketing director for MAC Marketing Solutions, says that for some reason over the past few decades, New West has been painted with a stigma of stagnancy, a severe lack of cool. “But it’s not actually true,” he points out.

“There are little, interesting mom-and-pop shops up and down Columbia, and a great, upscale drink lounge within walking distance from Inter-Urban,” says Thomson. New West Quay is a short distance away.

The InterUrban building — it spears upward in a tower beginning with heritage-style brick, transitioning to smooth masonry in the middle and capped by modern steel and glass — has views of historic New West on one side, and on the other, the trains running along the Fraser River.

In 2006, the City of New Westminster approached developer Peter Newall of Ballenas Project Management to help with the revitalization of the block at Columbia and Begbie.

First, Ballenas did a restoration on the heritage building next door to InterUrban’s current location; in exchange, it received a density transfer of 60,000 square feet.

What shape that square footage would take was the subject of considerable debate, and some opposition from residents concerned about the river view being obscured. “We were originally looking for a 23-storey tower, but that was nixed after a tumultuous council meeting or two,” Newall says. However, since there was a fixed amount of density involved, the loss of height simply meant the tower became shorter and wider.

Over a two-year design process, the neighbouring community had some input into InterUrban; that overall sense of ownership and engagement is something Newall believes makes New Westminster great. “There are great neighbourhoods like Sapperton, Brow of the Hill, and Queen’s Park that have very active, involved neighbourhood associations,” he says.

In addition to those who already know New West, the building is being marketed to people who would commute to either downtown Vancouver or the Fraser Valley, drawing on easy access to both Highway One and the New Westminster SkyTrain Station.

The suites contain quality finishings, including granite countertops, European-style two-tone cabinetry, and large-format floor tiles in the kitchen and bathroom. Newall has partnered with Greater Vancouver home furnishings store Nood to create three show suites, catering to three different types of potential buyers.

The first is the one-bedroom, likely aimed at a first-time homebuyer. The sizable suite easily accommodates a low queen-size platform bed and two side tables, and in fact, the room could house a king bed.

A two-bedroom-and-den suite is decorated to appeal to a young family with a child. The breakfast bar is set with bowls for cereal, while the wooden dining table has room for six in a pinch. There’s more wood in the Noguchi-inspired glasstop coffee table, and in the desk and intricate bookcase in the den. That area could also double as a guest bedroom, if need be.

The final show suite has been envisioned as one for a couple downsizing from a larger home; it includes chunky furniture in the living room, and a high-gloss white desk in a room that could be a den or bedroom. All of the suites feel incredibly spacious.

Normally, show suites don’t warrant so much description because they are for display purposes only, assembled by interior designers with one-off pieces to show off the fantasy of what life could be like if only a buyer lived there. In this case, however, InterUrban, MAC, and Nood have teamed up to allow condo purchasers to buy the show suite look down to the last accessory, should they wish to do so.

© Copyright (c) The Province

Left behind in a ‘wild’ and intensely hot market

Carla Wilson
Province

Bliss Prema with her husband Seamus Russell and daughter Uisce on the front steps to a house they rent. Bidding to buy has been ‘draining’.— Victoria TIMES CO LONIST

New parents Bliss Prema and husband Seamus Russell have struck out five times when making offers on houses. In each case, they lost out in bidding wars.

The couple has found that hunting for their first house in the most popular price range — between $400,000 and $600,000 — in Victoria can be frantic, frustrating and emotionally draining.

“It’s wild,” Prema says. “You feel this panic.”

Randi Masters, Victoria Real Estate Board president, sympathizes and urges the couple to “hang in” because more inventory is coming onto the market as spring approaches.

Also, the ranks of first-time buyers may also thin after new federal mortgage rules come into effect in April, Masters says.

The couple’s latest offer in February was rejected even with a bid $30,000 above the asking price. It was nixed by their one condition — a building inspection to be completed within one day, Prema says. The winning bid had no conditions.

They are seeing two-hour open houses filled with other hopeful buyers, with offers accepted at 8 p.m. the same night, Prema says.

In that kind of atmosphere “you don’t know if you can trust your own judgment,” she says.

Prema, 36, teaches yoga. Husband Russell, 35, is a business financial consultant. They want a three-bedroom house between $400,000 and $550,000, a place to raise baby Uisce. “We would love to have grass, a garden and a backyard,” Prema says.

The couple’s struggles illustrate where the action is in the market. In Greater Victoria, the average price of a single-family house in February was $620,833, and the median was $560,950. Almost half the single-family houses sold last month were for less than $550,000.

Prema had originally expected to find a house, negotiate in a calm atmosphere and eventually come to an agreement.

“We thought we were being the clever ones. We have our financing in place,” she says. “Instead, everyone is racing to buy the house as quickly as possible.”

Their first bid last year was $14,000 over the asking price, Prema says. They fell in love with the house and “our hearts got broken” when they didn’t get it.

They took a break from house hunting last year, returning to the market in December to find it heated and prices higher, she says.

Masters agrees that the market can be “pretty intense.” She says it is partly due to a push among buyers to find a home prior to new federal rules, coming in April 19, applying to mortgages backed by Canada Mortgage and Housing Corp.

Borrowers will have to be able to afford a five-year, fixed-rate mortgage, and someone wanting to refinance a mortgage can borrow only up to 90 per cent of the assessed value of the home, down from 95 per cent.

Masters anticipates only modest increases in interest rates later this year.

Buyers in B.C. who are looking at new homes are also trying to find a place before the harmonized sales tax is introduced in July. Under that program, the HST rebate applies only to properties selling for up to $525,000.

CMHC said recently that new-housing construction will rise in 2010, putting a lid on home prices this year following their 19 per cent surge in 2009. Between 152,000 to 189,300 housing starts are expected in 2010, up from 149,081 units last year, the national housing agency said.

Describing the current state of affairs as a sellers’ market, CMHC said the relative lack of new listings for existing homes has pushed some of the demand into the new home market, which helps explain the forecast for higher housing starts activity in 2010.

But it added that it expects prices to remain stable in 2010 around the MLS average reached in January this year of $328,537 nationally, as the new housing stock brings balance back to the market.

© Copyright (c) The Province

Liberty Homes designs Cascade interiors to quieten ‘apprehension about losing space’

Claudia Kwan
Sun

Jess Nobbs-Thiessen says there was no skimping at Cascade: buyers would want only top-end. PHOTOS BY LES BASZO/PNG

Cascade kitchens will include stainless steel Bosch dishwashers, stoves and microwaves and Fisher and Paykel refrigerators. Cabinet doors are available in one of three stains and finished with vertical stiles and horizontal rails, a classic detailing that feels appropriate to the large spaces. Solid hardwoods are available in either maple or oak, and will top all floors, except those int the bedrooms and bathrooms.

Cascade residents will be afforded views from their Westwood Plateau location. The showhome dining area faces south to Coquitlam.

The showhome’s master bathroom displays granite counters, double undermount sinks, a walk-in shower and chrome fixtures, again, standard in all homes.

CASCADE

Project location: Westwood Plateau, Coquitlam

Project size: 2 buildings, 9 and 10 storeys, 153 residences

Residence size: 2 bed, from 1,041 sq. ft.; 2 bed + den, from 1,187 sq. ft.

Prices: 2-bed from $380,000; 2-bed + den from $389,000

Sales centre: 2950 Panorama Drive, Coquitlam

Hours: noon -5 p.m., daily

Telephone: 604-472-0009

Developer: Liberty Homes

Architect: Tom Staniszkis

Interior design: Martie Knockaert

Telephone: 604-472-0009

Web: libertyhomes.ca

Occupancy: spring, 2012

—

Twenty-two years ago, Dale Lambert and his wife had a four-bedroom house custom built in the Hawkwood Estates area of Coquitlam for their young family. They loved everything about it -and still do -but their three children are now in their 20s and have moved out.

Having spent a lifetime working in quality and regulatory affairs, Lambert did a ton of research before the couple jumped into the pre-sale condo market as empty nesters.

Cascade kitchens will include stainless steel Bosch dishwashers, stoves and microwaves and Fisher and Paykel refrigerators. Cabinet doors are available in one of three stains and finished with vertical stiles and horizontal rails, a classic detailing that feels appropriate to the large spaces. Solid hardwoods are available in either maple or oak, and will top all floors, except those in the bedrooms and bathrooms. The showhome’s master bathroom, below, displays granite counters, double undermount sinks, a walk-in shower and chrome fixtures, again, standard in all homes. Cascade residents will be afforded views from their Westwood Plateau location. The showhome dining area faces south to Coquitlam

There were trips to a number of real estate projects around Coquitlam, research visits to city hall, and calls to lawyers and the Better Business Bureau. After all that, they were the first people to put their names on the dotted line when the Cascade sales centre opened on Oct. 3, 2009.

“ It’s in the area, and we like the layout of the suite – they’re a good size,” Lambert says. “ If I sat down and wrote up a list of what I was looking for and handed it to them, they did all of that in building this place.”

Jesse Nobbs-Thiessen, who is Liberty Homes’ director of development and planning, says it’s perfect that the Lamberts have ended up at Cascade: the Westwood Plateau development was designed with people like them in mind.

“ The vast majority of our buyers are in the 45-to 65-year-old age range, mostly couples that are 55-ish. They’re downsizing from an existing family home nearby, and have some apprehension about losing space. We want them to come away thinking ‘ That’s more than I thought I would get.’ ”

Nobbs-Thiessen drew from Liberty Homes’ past experience in developing single-family homes in the Tri-Cities. Similar dimensions were applied to the Cascade condos so that house-sized furniture could be used, and a spacious feeling retained. Eighty per cent of the condos have two parking spaces, an acknowledgment of the fact that people who are downsizing still often need to get to work, run errands and help with grandchildren. Liberty made the assumption empty nesters wouldn’t need a third bedroom, and so built only suites with two bedrooms or two bedrooms and a den.

Interior designer Martie Knockaert of Different Designs Group also kept the target market in mind when designing the colour schemes of light or dark maple, and rift oak. “ Some like a cleaner look with more texture, while others want rich and traditional,” she says. “ But overall, it’s high quality, timeless, and classic – so you don’t have to keep replacing it or updating it.”

Nobbs-Thiessen says there was no skimping on the luxury interiors; they knew consumers would want the best of the best. Counters are granite, cabinets are solid wood, appliances are stainless steel, and floors are engineered hardwood.

Cascade was originally slated to go ahead in 2005, but it was put on hold when market conditions changed. Now the concrete buildings are going up on one of the last open spaces in Westwood Plateau, and look quite different from the nearby Whistler chalet-style houses and multi-family buildings.

The development is designed to take advantage of the site; it slopes 35 metres from the top, just below Panorama Drive, to the bottom, across the street from a small shopping centre that includes a grocery store and other retail services.

Cascade is repeatedly terraced: underneath, on top, and between the two buildings. The towers have been pushed to the furthest possible points left and right to keep a sense of open space, and to maintain a gorgeous southward view of Mount Baker and the Fraser Valley, or north to Eagle Mountain. People living on corner units will also have some tree views, as two small strips of protected green space frame the site.

If that terracing is difficult to visualize, sales centre staff can help visitors to “ see” it; the centre has a computerized 3-D model on a prominently displayed flat-screen TV, which visitors can manipulate with a mouse.

Without the aid of that however, perhaps the best thing to do is to visualize a traditional terraced building, which normally is wide at the bottom with each layer getting progressively smaller as you go up. Flip that building over, tuck it into a hillside, and you might have some sense of what a Cascade tower looks like.

There is also terraced landscaping stretching between the two buildings, looking like a greener version of Machu Picchu, and terracing pulling the roof line back.

Nobbs-Thiessen says some Liberty Homes’ buyers have cycled through the company’s previous offerings; younger couples may have started out in townhouses, upgraded to detached homes as their families grew, and are now moving to condos as they become couples in semi-retirement.

“ Those who know Westwood Plateau love mountainside living, and they want to stay close,” he says. “ They love amenities like the golf course and the proximity to Coquitlam.”

About two-thirds of the units in the first tower have been sold, with the 67 units in the second tower being released for sale March 13.

Dale Lambert’s research hasn’t ended, even though he and his wife signed a purchase contract five months ago. They now swing by on weekends to see how things are going, and he’s even been on one of the dirt piles on site, using a GPS unit to figure out exactly what his view will be.

There may be some mixed feelings about entering this new stage of life, but there’s also planning to be done for new furniture and new adventures. The next cruise destination will likely be to.

© Copyright (c) The Vancouver Sun

‘We didn’t skimp,’ developer says of Chinatown-vicinity apartments

Christina Symons
Sun

In the Ginger kitchens are an AEG cooktop and convection wall oven; an LG 24-inch refrigerator with bottom freezer; a Fisher & Paykel dishwasher; a Panasonic microwave; and a Broan slide-out hood fan . Slabs of quartz top counters and glass backsplashes face the walls between counters and upper cabinets. Bamboo flooring is underfoot in the kitchen, living and dining spaces and the master bedroom.

Not the bathroom shown here, but some of the Ginger bathrooms will have a double shower accessible from two bathrooms. ( All of the tubs and showers will be under ‘ singing in the rain’ showheads.) Oversized ceramic tile is underfoot and part of the surround, with an insert of glass tile, floor to ceiling, providing punch. The vanities with their sculpted bowls were designed for the Ginger homes.

Ginger’s Main Street location, Georgia Street to the north and Union Street to the south, puts its households on the eastern boundary of the downtown peninsula and puts before those with western outlooks a skyline that has enjoyed international circulation during the Winter Games. Officially, 718 Main is an address in Vancouver’s Strathcona neighbourhood. The newest residency opportunity in Vancouver proper is, accordingly, also located in Vancouver’s inaugural neighbourhood. Chinatown is up the street and around the corner or across the street.

GINGER

Project location: Strathcona, Vancouver

Project: 9-storey concrete building, 78 residences

Residence size: studio, 1, 2 bed, 454 sq. ft. -1,100 sq. ft.

Prices: $269,900 -$789,900

Sales centre: on site, 718 Main

Telephone: 604-688-5005

Web: gingerliving.com

Developer: Porte Development Corp.

Architect: Gomberoff Bell Lyon

Interior design: BYU

Occupancy: Immediately

—

One of the benefits of a real estate market at simmer rather than at rolling boil is the opportunity to chill out a little and browse the available stock of built product, rather than a menu of yet-to-be-seen, pre-construction offers.

But either way, a purchase pre-or post-construction is a leap of faith when it comes to emerging developments in edgier locales.

Stuff happens. Volatile construction costs can wreak havoc with a project’s early budget, as can unexpected mishaps or design gaffes. Neighbourhoods and project specifications can change dramatically -or not -over just a few years.

Thankfully, at Ginger on Main at East Georgia — fully built and ready for occupancy– what was offered at pre-sale was delivered as promised, despite rollicking construction costs and a fluctuating market over the past 30 months.

And for those buyers shopping now, what they see is exactly what they’ll get. That is, a spicy collection of units over nine storeys with decidedly swank modern living spaces, higher-end appliances such as AEG and Fischer Paykel, unique details and all the trimmings.

“Construction costs went up and our costs went up with them,” says David Porte, president of Porte Development Corp. “But we didn’t skimp on the quality or finishing -we made a clear commitment to our buyers and to our contractors on what we were planning to do and we set out to deliver it.”

Even the special features, usually the first to go when costs rise, didn’t get nixed. These include frosted-glass sliding walls, sustainable finishes, graphic entry-door treatments and other architectural elements such as the iron balcony railings, which are accentuated with brightly coloured glass panels, and a sexy embossed dragon on the side of the building.

Not surprisingly, the developer anticipated Ginger’s buyers as typically young urban dwellers. There is also a wet bar in the party and Wii room on site.

“For our young or first-time buyer, it’s just a great opportunity to have value, quality and an up-and-coming location all combined,” says Porte. “It’s a terrific proposition.” The 78 smartly outfitted homes straddle Strathcona, edging Chinatown and overlooking downtown. The area is rife with history and neighbourhood shops poised for rediscovery, along with new hot spots to entice fresh residents like twenty-something Amie Halsall. She works nearby as an accessories designer at Vancouver’s ultra-cool John Fluevog Shoes.

“I was originally looking in my old neighbourhoods of Kits and South Granville, but I really wanted to be in an area that was culturally diverse, up and coming, but one that would hold onto its cultural identity,” she says. “I had only been to Chinatown once before I bought, but it’s my nature to just go for it, so I took the plunge.”

So far, Ginger has exceeded Halsall’s expectations, adding exactly the right kind of zest to her artistic lifestyle. A bonus: she can walk to work in Gastown, stroll downtown or to the seawall, or jump on the SkyTrain and major bus routes leading everywhere else.

Staying close to home is inspiring, too.

“Right now there is a pretty cool buzz around the area,” she says, noting several of her new nearby haunts, such as Campagnolo’s on Main and Bao Bei on Keefer. “By the weekend, I am exploring more and more, including the little shops that have been here forever.” Of these, the eclectic Italian import market, Tosi’s, is a fave.

Halsall’s new neighbour is also a first-time homebuyer in his twenties. Electrician Jared Power moved to Ginger from Peachland, and was smitten by Ginger’s Asian touches, which include a dragon motif in the lobby and and Asian-inspired artwork.

Power has also been pleasantly surprised by the vibrancy of the neighbourhood, which he overlooks from his generous 100-square-foot covered deck.

“There’s a real exciting mix of cultures and people here,” says Power. “You don’t have to go far to find whatever you need -coffee shops, markets, SkyTrain.”

Just over half of the building was sold when it launched in 2007. Now the rest of the suites, including the sub-and proper penthouses, are available for purchase and occupancy. Prices are still in keeping with the launch strategy, from $269,900 (studio) to $459,900 (two-bedrooms) and up.

“When we initially launched, we knew we were in a new area and we wanted to make sure that we were providing really good value for the homeowners, so we priced ourselves accordingly,” says Porte. “We’ve come back on the market with the same attitude.”

The neighbourhood is responding well and will continue to change as new retail moves into the mixed-use storefront spaces at Ginger and beyond, says Porte. The developer is also renovating the old London Hotel next door to include 72 units of much-needed non-market housing for the neighbourhood, along with more retail on the ground floor.

In addition to these projects, Porte is taking what he’s learned at Ginger and applying it to his next developments: a live-work project in South Surrey and new residences in the innovative SFU UniverCity neighbourhood, both to launch later this year. Adding value to neighbourhoods is paramount to Porte and his team.

“I am born and raised in Vancouver, so Chinatown for me has always been an area of lots of life and activity and that has sort of gone away in recent times,” says Porte. “But what’s now starting to emerge is new life and activity in Chinatown and Ginger is a part of that new energy and we’re very pleased by that.”

Halsall agrees, very pleased with her investment and new community. Having lived in many other areas of Vancouver, she had lots of comparisons.

“I love living here, right away it felt like home,” she says. “And I’ve lived in a lot of other places -with 22 different roommates and in over 12 different spaces!”

Will Ginger prove to be the right spice for the neighbourhood’s new urban melting pot?

So far, for those living there, the flavour is bang on.

In the Ginger kitchens are an AEG cooktop and convection wall oven; an LG 24-inch refrigerator with bottom freezer; a Fisher & Paykel dishwasher; a Panasonic microwave; and a Broan slide-out hood fan . Slabs of quartz top counters and glass backsplashes face the walls between counters and upper cabinets. Bamboo flooring is underfoot in the kitchen, living and dining spaces and the master bedroom. Not the bathroom shown here, but some of the Ginger bathrooms will have a double shower accessible from two bathrooms. (All of the tubs and showers will be under ‘singing in the rain’ showheads.) Oversized ceramic tile is underfoot and part of the surround, with an insert of glass tile, floor to ceiling, providing punch. The vanities with their sculpted bowls were designed for the Ginger homes.

© Copyright (c) The Vancouver Sun

Extra costs mount up, eating away at your profit

Garry Marr
Sun

I have a buddy who figures he made about $100,000 in the housing market in the past two to three years.

That’s not a bad take, but I question whether he really made that much money. no, I don’t believe he’s lying about what he paid for his house or what he sold it for. I just think he forgot to include a few factors — the transaction costs associated with his move.

Luckily, he’s smart enough not to live in Toronto, the only jurisdiction in Canada with two land transfer taxes — one going to the municipality and the other to the province. But even without those extra charges, once you factor in real estate commissions, legal fees and other closing costs, as much as $35,000 of his profit will have been eaten away. So that leaves $65,000, you say. not really.

He made a decision to downsize. He bought his home for about $400,000 and realized about a 25% return in a very short period of time. Impressive. But he also sold a previous home. If that first home was worth about $300,000 when he moved, based on a 25% increase in price, he still would be up $75,000 if he had just stayed put. The way I figure it, All this moving has cost him roughly $10,000. Of course, there are other reasons for a move, such as a changing family situation, that cannot be helped and you have to bite the bullet.

But continuously selling and buying homes can lead to destruction of wealth over your lifetime.

On average, Canadians move about 4.5 to 5.5 times in their lifetime, according to the Canadian association of accredited Mortgage Professionals.

All that moving could easily wipe out $150,000 in extra costs.

So why do it? “It really depends on what you are accomplishing by the move,” says Don Lawby, chief executive of Century 21 Canada, pointing out if your company moves you far enough you can write off any costs they don’t cover.

“Sometimes, you move because of circumstances of life. A child may come along that you didn’t plan on. Somebody might die. You could have a health problem. there could be a divorce.”

Yes, there are ways to make money by moving constantly, such as putting so-called “sweat” equity into a house, improving its value. I wish I were a fix-it guy. since there are no capital gains on a principal residence, this might be the only legal way to make money in this country without paying tax.

” You can make money [buying and selling houses] if you have lots of knowledge, but the average person doesn’t. You can’t pay the regular rate for a plumber, regular rate for an electrician and make money,” says Mr. Lawby.

Derek holt, an economist with the Bank of nova Scotia, says if real estate commissions come down it would make moving more palatable. he estimates if the Canadian real Estate association’s lock on home listings is broken, consumers would see a drop of about $15,000 in costs on each transaction.

the Competition Bureau has lodged a complaint with the Competition tribunal about CrEa’s practices. no date has been set for the hearing as of yet.

“[Former U.s. Federal reserve chairman] Alan Greenspan once made the comment that the costs of moving absorb 8% of your home equity and that’s not far off the Canadian experience. it might be higher,” says Mr. holt. “You don’t want to do that too many times or you could blow a quarter or a third of your equity.”

Despite the expense, Mr. holt said the no. 1 concern for most Canadians when they are moving is whether they can afford the carrying costs on their new home. in his own life, Mr. holt said he’s trying to limit how many moves he makes.

“We moved three years ago and my next move is going to be feet first out the door,” said Mr. holt. that’s one move somebody else will be paying for.

DUSTY WALLET: always try to negotiate the commission rate with your real estate agent. if a buyer and seller are close to agreeing on a price, there is nothing that says the agents can’t dip into their commission to bring the two par ties closer together and close a deal. DW is also curious to know if consumers have found it easier to negotiate a lower commission now that the Competition Bureau has the real estate industry in its sights.

© Copyright (c) The Vancouver Sun