Victoria developer heralds project as fractional- ownership and construction firsts for Canada

SUZANNE MORPHET
Sun

Parkside Victoria Resort & Spa

Size: 126 fully furnished, designer suites in two seven-and eight-storey towers, joined by a three-storey glass garden atrium

Prices: $149,900 — $249,000 per quarter interest

Telephone: 1.877.444.9386

E-mail: [email protected]

Web: parksidelifestyle.com

Developers: Andrew Pearson, Aviawest Resort Group

Architect: The Hulbert Group International Inc. — Richard Hulbert

Interiors: The Interior Design Group Inc. — Lana Mac Rae

The Victoria Film Festival was looking for a unique venue for this year’s opening gala, something that would upstage its previous galas. Festival director Kathy Kay says when they saw the atrium and lobby at the new Parkside Victoria Resort and Spa, they knew it would be perfect.

“I loved the furniture, the rock work and the ponds, it’s both serene and elegant,” she says. “We got the best feedback after the opening gala and it’s going to be hard to top it [next year].”

But it’s not just the atrium and lobby that are catching people’s attention.

Parkside Victoria is Canada’s first fractional ownership property in an urban setting and also the first resort hotel in Canada to be built to LEED (Leadership in Energy and Environment Design) platinum standards, the highest “green” building rating available. (The company is still waiting for certification.)

That’s not all. The family-owned property won two gold medals at this year’s American Resort Development Association Convention in Las Vegas. Parkside took both the “resort design” and “plan design and utilization” awards.

Jim Pearson, chief executive officer of Aviawest, the company that developed Parkside, was thrilled with the recognition in Las Vegas.

“It’s really quite surreal to reflect on where we have come from to where we are now. To be a small family business through the financial crisis and to win these awards when we’re up against the best in the world is really special.”

Aviawest got its start in 1991 when Pearson’s parents purchased a campground on a stretch of beach in Parksville and built six vacation homes on it.

That development — Pacific Shores –is now almost built out, with 108 units, some fractional ownership as well.

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Onni pre- sale in North Vancouver a get- in- early invitation to buying public

MARY FRANCES HILL
Sun

The Drive in North Vancouver

Location: Marine Drive, North Vancouver

Project size: 4-storey building, 64-residences

Residence size: Studios 430 sq. ft. — 475 sq. ft.; 1 bed, 550 sq. ft.– 690 sq. ft.; 2 bed, 790 sq. ft. — 870 sq. ft.; 2 bed +den, 865 sq. ft.– 890 sq. ft.

Prices: From $259,900

Developer: Onni Group

Architect: Taizo Yamamoto

Interior design: Onni in-house design

Sales centre: 1035 Seymour Street

Telephone: 604-687-4353

Hours: noon — 6 p.m., Sat — Thur

Web: liveatthedrive.com;onni.com

Occupancy: January 2012

—

Every community has a personality, moulded either by the people who live in it or by the vision of those who build it with bricks and mortar.

In the case of The Drive, the newest pre-sale project from the Onni Group, that personality was formed early — on the drafting table. Close to the wooded trails of Bowser Park, the North Vancouver development is informed as much by its geography, as by its place in Onni’s collection of urban homes, says Onni sales developer Nick Belmar.

By building in a West Coast contemporary architectural style, with brick, concrete, glass, and timber beams, and adding 15,000 square feet of retail space on street level, Onni aims to develop an “urban village” on Marine Drive.

“The Drive coincides with the personality of North Vancouver — active and outdoorsy, with an urban mentality,” says Belmar.

Bordered by Bridgeman Avenue to the east and 17th Street West to the north, The Drive will be one of the pioneering projects expected to kick-start a neighbourhood in transition.

“You’re going to see a lot of changes in this area of North Vancouver,” says Belmar, referring to the new allowance for high-density residential corridor in the area. The Drive’s site has been rezoned from less dense commercial — it housed a Speedy Auto Glass repair centre — to a mix of residential and retail use.

Onni didn’t have to go far to find a model neighbourhood that would reflect its vision of condominiums and shopping.

All it took was a trip to Kitsilano. Coffee shops, fashion retailers, fitness centres, yoga and sports-equipment shops make West Fourth and West Broadway a desirable area for house and condo-hunters. The streets are busy arteries connecting both sides of the city; yet the neighbourhood is able to maintain a sense of serenity despite the traffic.

Planners saw no reason why The Drive wouldn’t be able to achieve that same community feel.

Indoors, The Drive’s finishes and layouts are simple. Belmar says designers kept options to a minimum, with finishes in neutral shades to appeal to a diversity of buyers.

“Historically, we’ve done a lighter scheme and a darker scheme, and what we did is take that and make a middle ground,” says Belmar.

Small studio kitchens will be “L”-shaped, while those in the one-and two-bedroom units will be positioned to look on to a living room and entertainment area. Brushed chrome hardware, electric fireplaces, stainless-steel appliances, deep soaker tubs, stone countertops come standard in each suite.

The building’s second and fourth floors will be stepped back, creating spacious balconies and more privacy for homeowners. Residents will share 1,300 square feet of fitness centre and meeting-room space.

More than anything, however, it’s the character, inside and out, that brings it into the mix of the family of Onni developments, says Belmar.

Onni’s V6A project in the Strathcona-Chinatown district is attracting mostly single urban professionals. It’s where a diversity of cultural groups of many income levels come together, transforming the east side community with its own cultural and economic mosaic.

© Copyright (c) The Vancouver Sun

$9-million sales centre, $90 million in sales to ‘VIPs’ inaugurate 15-year campaign

Claudia Kwan
Sun

River Green

Project location: Hollybridge Way and River Road, Richmond

Project size: Six buildings with 458 units in Phase 1

Residence size: 1-bed 700 sq. ft.; 1 bed + den 800 sq. ft.; 2-bed + den 1,280 sq. ft.; 3-bed + den 1,950 sq. ft.; town houses 1,470 sq. ft.; 4-bed + den villas 3,640 sq. ft.

Prices: 1-bed from $542,000; 2-bed from $613,000; townhouses from $829,000; 4-bed + den villas from $3.2 million

Developer: ASPAC Developments

Architect: James KM Cheng Architects Inc.

Interior Design: Scott Trepp, Trepp Design

Sales centre: 5111 Hollybridge Way

Hours: 10 a.m. — 6 p.m., daily

Telephone: 604-233-2633

Web: rivergreen.com

Occupancy: Summer 2013

—

Imagine a place where you can stroll by expansive vistas of water, and perhaps be greeted every so often by a golden retriever sniffing around for intriguing scents.

You nod hello to seniors out for a walk, or joggers and cyclists doing a quick round of cardio, and or families out for some fresh air.

You ponder stopping off for breakfast at a local cafe, but instead amble home through perfectly landscaped gardens, eventually arriving at the front door of your luxury home.

Inside, you can make yourself a cup of java from your built-in espresso maker, or scramble some eggs on your top-of-the-line stove before beginning your day.

It’s not Coal Harbour in downtown Vancouver; it’s Richmond.

This is the vision being painted at the sales office for ASPAC Development’s River Green. In fact, it’s not even being called a sales office.

The $9-million structure, designed by River Green Phase 1 architect James Cheng, has been dubbed a “story centre.”

Prospective buyers will find the 19,000-square-foot building tucked away behind the Richmond Olympic Oval. When they enter, they will be greeted by an indoor fountain meant to evoke the water surrounding the “island” of River Green outside.

Just past the fountain, glossy white interactive models tell the tales of local landmarks. including the Gulf of Georgia cannery in Steveston, Finn Slough, and the heritage London Farm.

There are also massive video screens that can be used to display anything from triumphant moments during the 2010 Olympics, to cartoons designed to amuse fractious children of buyers.

On the third level, there are three show suites intended to demonstrate the sumptuous lifestyle into which River Green purchasers are buying. All the little details have been considered, from a cutlery tray in the dishwashers -perfect for cleaning up after entertaining -to the aforementioned built-in espresso-maker.

River Green marketer George Wong of Magnum Projects says there’s already been incredible interest, with more than 3,000 people registering online to receive advance information about the project.

He predicts about $90 million in agreements of sales and purchase will have been signed by end of day Friday, on about 120 homes.

That’s even before the marketing campaign makes any sorties overseas.

“The buyers are VIPs from Vancouver, Burnaby, Richmond, and the North Shore,” says Wong.

“They’re looking for an exclusive, high-end lifestyle.”

He adds they’re embracing the idea that this is the Richmond equivalent of Coal Harbour -and trying to get in on the ground level.

This is the first push for an ambitious 2,600-unit master-planned community on 11.2 acres of waterfront between the No. 2 Road and Dinsmore bridges in Richmond. Developer ASPAC is expecting completion of the entire project to take between 10 and 15 years. Construction will be rotated between the left and right ends of the huge land parcel, to minimize noise and disruption for residents.

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Wong says the goal of River Green, styled as a waterfront “village”, is to be an enclave of convenience and comfort. Residents will have easy access to extensive health and wellness facilities in the former Olympic speed skating oval, as well as trails and park land throughout the development. The project is aiming for LEED gold status, with initiatives for green roofs and rainwater conservation. Plug-ins for electric vehicles will come standard in the building.

Architect James Cheng says he and ASPAC learned some lessons from their previous experience building up Coal Harbour.

“At the beginning, it was a little isolated (in Coal Harbour),” Cheng admits. “The grocery stores were a few blocks away, there wasn’t much in the immediate area. We know people want to work and play in the same area. They want a complete community.”

Cheng says they wanted to allow residents easy access to luxury resort-style amenities. To that end, he says, they tried to incorporate at River Green all the services, security, and convenience one would find at a five-star establishment.

Residents will be able to connect with the area by having access to a community shuttle that can take them to destinations like Vancouver International Airport, or the Canada Line transit station, which is a 20-minute walk away. For those who want to minimize the use of cars, bike paths are being expanded, leading to local businesses. A pedestrian promenade links the community together, allowing for easy access from across the neighbourhood to the oval.

When it came to architectural interest, Cheng says there was no need or desire to compete with the iconic oval or the waterfront views, visible through the many windows in the River Green buildings.

Instead, he tried to focus on the “near view” -the 200 to 300 metres of landscaping visible from the buildings.

“There are many days when you can’t see the mountains or the river because of the weather,” says Cheng. “So I spent time designing in gardens and water elements -even introducing the sound of water -because the river’s very quiet. This way, you can feel the lightness of the wind and the dampness of the air, and it brings in more of a sense of privacy. It sets up a boundary between public and private space.”

Both Cheng and Wong believe River Green will fill a void in the market: a demand for high-end multi-family housing in Richmond.

“We have people working at YVR (Vancouver International Airport), the London Drugs warehouse, BCIT professors [who work at the Richmond aerospace campus],” says Wong. “They want to live closer to where they work, but they haven’t had this option up until now.”

Cheng says the goal was to make the community sustainable over the long term, capable of evolving to fit the changing needs of residents. That’s why they incorporated everything from one-bedroom units to villas of more than 3,500 square feet in place of single-family homes.

“This is the point of a complete community,” Cheng says with a smile. “This will be here for 100 years or more, for many many cycles and generations. So that’s why we wanted to get it right.”

© Copyright (c) The Vancouver Sun

Derrick Penner
Sun

Downtown Vancouver’s office leasing market has bounced back due to a stream of infrastructure projects while Metro Vancouver suburban markets continue to struggle with the contraction of their American branch-plant tenants, says one commercial realtor.

Downtown’s office vacancy rate, which swelled during the recession, shrank to 4.8 per cent in the first quarter of 2010, Cushman & Wakefield Ltd. reported in its Mid-Year Office & Industrial Outlook report.

“It would seem that the downtown market has certainly all but repaired itself,” Jeffrey Rank, Cushman & Wakefield’s managing director in Vancouver, said in an interview.

A year and a half ago, companies were making a lot of office space available for sublease to save money. Now, Rank said, “most of the sublease space that was out there has been accounted for and vacancy rates are now under five per cent.”

Nationally, Cushman & Wakefield found that Canada’s 12 major markets “stood up better than expected during the global recession,” although there have been rough spots.

Calgary, for instance, will have seen 7.5 million square feet of new office space built by 2012, but its natural-gas industry firms are struggling in a low-price environment, which has “put heavy brakes on office demand.”

Toronto, on the other hand, saw some 4.5 million square feet of new office space come on stream as the recession hit, but its vacancy statistics have “exceeded expectations” in the first quarter of 2010, says the report.

In Vancouver, at the recession’s height, Rank estimated up to one million of downtown’s 29 million square feet of office space was available for sublease. Today, less than 300,000 square feet remains on the market, with few large single spaces left.

Rank said the intervening period gave a lot of firms already located downtown room to consolidate operations or expand. Many of them were involved in infrastructure projects, such as the Port Mann Bridge replacement and construction of roads.

“We’re seeing [leasing from] the software and gaming side to some degree,” Rank added, “but the main driver in terms of major expansion has been engineering and consulting and architectural firms,” that serve the infrastructure sector.

Rents for downtown’s premium view spaces have climbed back to peak-of-the-market levels of about $38-$40 per square foot, Cushman & Wakefield said in its report.

Non-view rents downtown are averaging $25 per square foot in the first quarter of 2010, not quite peak levels but rising, which Cushman & Wakefield believes will put pressure on tenants to look for less expensive accommodations in the suburbs.

However, suburban markets have seen vacancies rise to 12.4 per cent in the first quarter of 2010 from 11.7 per cent in the same quarter a year ago as new office buildings added to inventory while the recession choked demand.

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