Brohm Ridge on Garibaldi site of new ski resort

Kenneth Chan
other

Ever since an environmental approval from the provincial government in 2016 was granted, there has been ample progress and movement on the planned Garibaldi at Squamish ski resort on the slopes of Brohm Ridge — an area about five minutes north of Squamish, located on the east side of the Sea-to-Sky Highway.

A detailed draft conceptual master plan of the $3.5-billion, all-season resort, addressing many of the 40 environmental approval conditions, recently entered a new round of public consultation.

The development is funded and spearheaded by NHL Vancouver Canucks-owners Aquilini Investment Group and Northland Properties Corporation, which owns the NHL Dallas Stars, Sutton Place Hotels, Denny’s Canada, Moxie’s Grill & Bar, and Shark Club.

In order to proceed, the project needs to undergo further consultation with the District of Squamish on extending its jurisdictional boundaries so that the district government reaps the tax benefits of the development. It also needs the provincial government’s Mountain Resorts Branch to approve a master development agreement for the use of the public land.

Conceptual artistic rendering of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Views of Squamish and Howe Sound from Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

More ski trails than all three North Shore mountains combined

If all goes as planned, the first phase of four phases of ski resort construction could begin in 2023 to allow for an opening in 2025. The remaining phases would be complete over a timeline ending at 2040.

One of the individuals leading the charge is Rod MacLeod, Garibaldi at Squamish’s vice-president for planning — an industry veteran with constructing resort infrastructure across North America, and the former manager of mountain planning and projects for Whistler. He was also with VANOC for six years as the project manager for the mountain venues at Whistler and Cypress.

He described the resort’s size as something that is between the North Shore ski hills and Whistler Blackcomb.

“The resort will in all cases be in between the North Shore areas and Whistler. It will be bigger in size than the North Shore but smaller than Whistler, more expensive than the local hills but much less than Whistler, and offer more terrain than the North Shore but less than Whistler,” MacLeod told Daily Hive.

The first phase alone would create a fully-functional, mid-sized mountain resort with 610 acres of skiable and eight lifts, with a capacity for about 4,000 visitors, supported by nearly 1,000 staff and 5,000 beds.

By 2040, the resort’s ultimate size with the final phase will reach 1,635 acres of skiable terrain on 131 trails, 21 lifts, 17,538 visitor capacity, 3,045 staff, and close to 22,000 beds (equivalent to 1,300 hotel rooms, 2,214 condominium units, 840 townhome units, and 1,184 single-family dwellings). The construction of further phases is dependent on the success of the first phase.

In contrast, all three North Shore mountains combined have 1,012 acres of skiable terrain, with Cypress Mountain containing 600 acres, Grouse Mountain with 212 acres, and Mount Seymour with 200 acres. Whistler Blackcomb’s two mountains boasts 8,171 acres, making it North America’s largest ski resort.

Conceptual ski trail map of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Conceptual aerial lift map of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Dedicated housing for resort staff and Main Village

The surreal size of the resort also means it will be a huge employer in the area. Providing affordable employee housing has also been identified as a priority, and to that end 12.5% of the resort’s beds will be for employees — above the provincial government’s required condition of at least 10%. This will be sufficient to accommodate about 70% of the planned workforce.

“These beds will be a mix of seasonal apartment rentals up to homes that long term staff can own. If Squamish is our local government we commit to being part of whatever solutions they decide to move forward with,” said MacLeod.

“Many of these staff are people that currently commute, or are about to move into one of the many new housing units in town and will be commuting. We will be able to offer them a job and a home.”

Conceptual artistic rendering of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Amidst concerns over growing traffic volumes on the Sea-to-Sky corridor, transportation is another component resort planners are working on, and travel within the resort itself will not require a car.

MacLeod says 84% of the beds will be walkable, skiable or bikeable to lifts and trails, and there will be bus service between Squamish and the resort for staff and guests. The resort is expected to see about 8,000 visitors per day; about 5,000 day-use visitors will arrive by car and the remainder will be on inter-resort shuttle, public transit, or charter bus.

“In order to be successful we have to be part of the solution of getting cars off of the highway and encouraging alternate transport,” he said.

Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

The full resort area covers 6,200 acres, including significant areas that were previously logged, but just 1,542 acres will be used for mountain recreation facilities, 1,300 acres will be used for base area hotel and housing development, and the remaining majority of over 3,300 acres will be undisturbed.

Some changes to the plan have moved a significant 62-acre Main Village — oriented around a pedestrian-only spine, complete with hotels and 250,000-sq-ft of retail, restaurants (5,300 seats), and amenities and services — up to an elevation of 1,100 metres, which is the same elevation as the top of the Grouse Mountain Skyride and mid-mountain on the Whistler Village side.

Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Other attractions to become a year-round destination

MacLeod also says the proposed golf courses have been removed, and the new resort area is about half as large as the previous concept and avoids any impact on nearby lakes. Amenities that are being planned include a bike park that offers both family and intermediate areas, operating year-round on the lower elevation slopes.

Other potential amenities and attractions that could entail snow tubing, ice skating, alpine roller coaster, indoor activity centre, climbing walls, mini golf, disc golf, and sleigh rides. Similar to Whistler, and unlike Big White, there will be ample activities and programming to keep the resort active and vibrant during the summer months.

Access to mountain recreation activities of skiing, biking, and hiking will be accessed from two main base portals, including the Main Village and a South Portal. A third smaller North Portal will be for guests at local accommodations within the northwest corner of the resort.

Draft plan of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Draft plan of the base area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

Altogether, the base area resort will have nine parcels that organize the resort based on the differing uses. The most concentrated parcels are located at the base of mountain ski lifts, while the less concentrated parcels are along primary roads that connect concentration zones.

MacLeod says a new round of public consultation began last summer, and his team has received an “overwhelming” number of responses being positive.

“There have been hundreds of young families move to Squamish over the last few years and they would love to have this recreational opportunity available for their kids as soon as possible,” he said.

“They would also like to quit commuting north or south to go to work, and then in many cases commute again on the weekend to go skiing/snowboarding with the family.”

The resort’s location-based name is currently a placeholder until a new name, created in collaboration with project partners Squamish First Nation, is announced later this year.

Phased plan of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)

(Disclaimer: This is not a Disney ski resort, that was Daily Hive’s 2017 April Fools’ joke.)

Daily Hive is a Canadian-born online news source

Neighbours happy to report empty homes

Dan Fumano
The Vancouver Sun

Vancouverites have been happy to drop the dime on absentee neighbours, phoning in 1,456 tips about supposedly vacant or underused homes since the introduction of North America’s first empty-homes tax.

Residents, it appears, are only growing more eager to report. City statistics provided to Postmedia show that between 2017, the first year of the tax, and 2018, the number of tips almost tripled year-over-year. So far this year, citizens’ zeal for tips hasn’t cooled off: a comparison of January 2019 and the same month in 2017 shows a 600 per cent increase in tips.

The work of Vancouver’s 12-person empty home tax audit team is reportedly paying off: While the vast majority of audits — about 95 per cent — conducted during the first year of the tax found properties to be in compliance, city numbers show that audits found 331 non-compliant properties for 2017, which generated a combined $6.2 million.

In other words, the amount of tax revenue generated through audits was enough to cover most of the $7.5 million one-time implementation costs for the program or more than double the $2.5 million operating costs for the tax’s first year.

That’s just part of the $38 million in empty homes tax the city expects to receive for 2017, of which the city had collected about $24 million as of last week (that’s up from the $21 million reported in late November when the city released its first report on the empty homes tax). It’s too early for a 2018-tax-year revenue estimate, the city said.

The tax, an levy of one per cent of the property’s assessed value for the year, targets homes that are vacant or only used part-time. In a city with a near-zero rental vacancy rate and a housing unavailability crisis, the policy is seen as a way to increase the number of units available for rent, raise revenue for affordable housing, or both. Some critics question the tax’s efficacy or argue against what they see as its fundamental unfairness, but so far, the city’s numbers suggest the tax is achieving both of those goals.

The City of Vancouver describes its empty homes tax as “the first of its kind in North America,” and other jurisdictions battling their own housing crises have taken notice. Over the weekend, The New York Times quoted Vancouver Mayor Kennedy Stewart and cited a report by the Real Estate Institute of B.C. in a story about New York considering a so-called “pied-à-terre tax” on homes worth $5 million or more which are not the owner’s primary residence.

Vancouver’s plan for collecting unpaid empty homes tax revenue will work “exactly the same as it works if your property taxes are unpaid,” said the city’s director of financial services, Melanie Kerr. The taxes are added to the property tax bill. If taxes remain unpaid for three years, the city can seek a court order to sell the property.

The city found 7,923 empty or under-utilized properties in 2017, about two thirds of which were exempt from the tax. Properties could be exempt for a number of reasons, including if the home is empty because of strata restrictions or major renovations. Property owners can be exempt if they maintain a second home while working in Vancouver, or if they’re undergoing medical care that keeps them away from their primary home.

Through a combination of random and “risk-based” audits, the city’s compliance team investigates properties to determine if they are legitimately someone’s principal residence or otherwise exempt from the empty homes tax. The city will notify an owner their property has been selected for audit, and request evidence, such as utility bills or mail, to support the property status declaration, Kerr said. In some circumstances, the city will conduct a property inspection after notifying the owner, Kerr said.

Owners who feel their property has been wrongly deemed vacant can complain to the city, Kerr said. Complaints are initially reviewed by an internal review officer, Kerr said, and then owners who are still unhappy can request a second look from an external review panel, made up of lawyers and other professionals. For 2017, the external panel conducted 47 reviews, and of those, eight succeeded in getting the tax rescinded.

About half the empty homes tax payments for 2017 were between $5,000 and $15,000, Kerr said, meaning about half the homes subject to the tax were value at between $500,000 and $1.5 million. Most of the vacant and exempt properties — about 60 per cent — were condos, while single-family homes made up about 34 per cent.

The city declined to release detailed information about the amounts paid by individual owners of the 2,538 empty or under-used properties subject to the tax for 2017, but Kerr said payments ranged from $1,500 to just over $250,000 — meaning that at least one $25 million home was deemed vacant and subject to the tax, which would place it among the province’s 40 highest value houses.

After covering the program’s operating costs, all revenue must be used for affordable housing. Last June, the last city council allocated the first chunk of $8 million, including $3.1 million in land and resources for non-profit and co-op housing, $1 million for grants to improve existing co-ops and build new ones, and $3.5 million for improving living conditions in single-room occupancy, or SRO, housing.

Vancouver’s new mayor and council will eventually decide, after receiving recommendations from staff, how to spend the remaining millions generated by the empty homes tax.

They will also look to refine the tax. Stewart campaigned last year on a pledge to consider increasing the empty homes tax. He introduced a motion, passed at the Jan. 29 council meeting, directing staff to report to council by the end of March on how to improve the “fairness and effectiveness of the empty homes tax in achieving the objective of returning empty and under-utilized properties to the market.”

That will include a review of the fairness and effectiveness of exemptions, taking into account the new provincial speculation and vacancy tax, and a proposed timeline to report on the potential benefits and drawbacks of increasing the empty homes tax rate. The rules could be changed, perhaps, to exempt a snowbird with a pied-à-terre, while increasing the tax for another who leaves a home empty year-round.

In the meantime, neighbours can keep phoning 311 with tips.

© 2019 Postmedia Network Inc.

Non-individual ownership in Kelowna outstrips that in Vancouver

Tyler Orton
Western Investor

Nearly one in 10 residential properties in B.C. are owned by “non-individual entities,” according to the Canada Mortgage and Housing Corporation (CMHC).

Tuesday’s (February 12) report from the Crown corporation finds that non-individual ownership of residential properties amounts to 9.8 per cent in B.C. and 5.6 per cent in Metro Vancouver.

Kelowna has the highest rate of non-individual ownership among the province’s metro areas at 7.6 per cent, while non-individual ownership amounts to 15.8 per cent outside urban regions.

The CMHC defines non-individuals as corporations, governments, sole proprietorships and partnerships.

The report, Residential Property in British Columbia, Ontario and Nova Scotia: Overview of Non-Individual Ownership, concluded most non-individual owners are governmental organizations, corporations in the construction sector, and corporations in the real estate and rental and leasing sector.

But it’s not necessarily homes that these entities are hanging onto.

Instead, the CMHC found that non-individual owners are more prevalent on vacant land, owning 64 per cent of these properties in B.C.

And in Metro Vancouver the average assessed value of vacant land owned by non-individuals tallies in at $1.9 million compared with $1.1 million for individuals.

Copyright © Western Investor

Housing market slowdown has slashed B.C. government?s projected income from purchase taxes, including foreign buyer tax revenues

Joannah Connolly
Western Investor

The real estate market slowdown may feel like good news for many who are struggling to afford a home in our pricey province – but certainly it’s not good news for the provincial coffers.

The B.C. NDP government has reported that it is expecting Property Transfer Tax (PTT) in the 2018/19 fiscal year to bring in $400 million less in revenue than projected in its original budget.

The figure was revised downwards from the original budget by $250 million in the Ministry of Finance’s first quarter report of 2018, and then another $150 million in the Q2 report. The projected figure was revised from its original $2.235 billion to $1.835 billion.

In an emailed statement February 8, the Ministry told Glacier Media: “This is in line with government’s efforts to moderate the housing market to make homes more affordable for people.”

Some $37 million of the shortfall is an anticipated reduction in projected foreign buyer tax revenues, which have been revised to $190 million for the $2018/19, down from $227 million.

Tom Davidoff, director of the UBC Centre for Urban Economics and Real Estate, said February 11, “These taxes serve purposes other than just raising revenues, but it’s possible the B.C. government is on the wrong side of the Laffer Curve, which to say that the foreign buyer tax might now be so great that people aren’t buying the homes, so you might be raising less revenue at the higher foreign buyer tax level than you would have [at a lower tax rate].”

He added, “You also have to look at additional annual property taxes such as the speculation tax, empty homes tax and school tax, and whether that makes up for the PTT loss or not.”

Davidoff doubted that the PTT shortfall would significantly affect the B.C. government’s plans to build affordable housing. “They earmark these revenues for specific programs, but ultimately money is fungible, and the economy is strong. Ultimately what matters for spending is the total budget, and they might cut other spending or raise taxes elsewhere.”

The tax revenue projections may be revised again in the 2019 B.C. Budget, which is scheduled to be presented next week, on Tuesday February 19.

© Copyright 2019 Western Investor

Vancouver housing starts were hold-steady

Steve Randall
Canadian Real Estate Wealth

The trend for Canadian housing starts was steady in January with 208,131 units improving on December’s 207,171 units.

CMHC’s latest 6-month moving average shows that things have snapped the recent trend towards fewer starts.

“After recent declines, the national trend in housing starts held steady in January and remained above historical average,” said Bob Dugan, CMHC’s chief economist. “While single-detached starts continued to trend lower in January, this was offset by an uptick in the trend for multi-unit dwellings in urban centres.

Vancouver – a tale of two cities The second half of 2018 had seen Vancouver’s housing starts in decline so January’s hold-steady is welcome although they were focused on apartments in the cities of Vancouver and Burnaby, accounting for more than half of new construction in the CMA last month.

Toronto – cost of borrowing to weaken demand The trend in Toronto was lower overall with single-family and apartment starts both reduced from December. But this impact was reduced by a significantly better showing for rowhouses which converted pre-sales into starts. 2019 is set for lower starts overall though as pre-sales were weakened by the higher cost of borrowing.

Ottawa – lowest starts for 2 decades For Ottawa, there was a decline in starts across all home types as builders focused on units already under construction. The trend measure of starts was the lowest in more than 2 decades.

Quebec – should see stronger starts in 2019

While starts remained low in Quebec, immigration and the aging population should see starts pick up from a slow start. This is expected to be focused on the multi-family rental sector.

January standalone data The standalone monthly SAAR of housing starts for all areas in Canada was 207,968 units in January, down from 213,630 units in December. The SAAR of urban starts decreased by 2.1% in January to 190,912 units. Multiple urban starts increased by 0.7% to 146,353 units in January while single-detached urban starts decreased by 10.4% to 44,559 units.

Rural starts were estimated at a seasonally adjusted annual rate of 17,056 units.

Copyright © 2019 Key Media Pty Ltd

The B-20 stress test an element of caution

Ephraim Vecina
REP

Amid multiple criticisms of the tighter mortgage qualification rules introduced last year, the OSFI’s assistant superintendent stood by the B-20 mandated stress testing as a necessary element of caution.

“The stress test is, quite simply, a safety buffer that ensures a borrower doesn’t stretch their borrowing capacity to its maximum, leaving no room to absorb unforeseen events,” Carolyn Rogers said last week, as quoted by The Globe and Mail.

“This is simply prudent. It’s prudent for the bank and it’s prudent for the borrower, too.”

Rogers noted that while the regulatory regime should adapt to any market changes as appropriate, there are multiple factors to take into account.

“The simple design of the stress test – adjusting the interest rate upward for the purposes of qualifying a borrower’s capacity – might make it look like it’s simply there to front run a potential interest rate increase,” Rogers explained.

“But borrowers face other risks that can impact their ability to pay their mortgage that I mentioned earlier: changes to income or changes to expenses other than their mortgage. It’s prudent to have a buffer for these changes, as well,” she added. “A margin of safety in these conditions is prudent.”

Robert Kavcic, senior economist with the Bank of Montreal, argued that the federal administration should revisit B-20, as the strict rules were meant for an era with record-low interest rates, a time when adding 2% to the BoC’s benchmark would place the rate into the central bank’s neutral territory.

“So, while the BoC is still plodding its way to neutral, the residential mortgage market is now, at least from a qualification perspective, well into restrictive territory,” Kavcic explained. “You can see this as well by looking at the five-year fixed mortgage rate – adjusting it for OSFI lifts the qualifying rate well above the long-run highs.”

“But, with the well-purposed spirit of the measure in mind, there might be a case to be made for the qualification rate to be scaled back in lock-step with underlying rate increases, especially now with those rates near neutral.”

Copyright © 2019 Key Media Pty Ltd

Vacancy rate improved by 15%

Ephraim Vecina
Canadian Real Estate Wealth

The ratio of unoccupied residential properties in Vancouver noticeably fell by 15% in just one year, and half of previously empty homes have been moved to the rental market, according to the initial returns of the city’s 2018 empty homes tax.

The Vancouver government stated that these figures point to the effectiveness of the levy, with a tangible impact on both vacancy rates and rental supply.

Overall, the number of the city’s vacant homes went down from 1,085 homes in 2017, to just 922 in 2018.

However, a markets observer warned that it might be too early to celebrate the empty homes tax as a victory, since Vancouver is not yet seeing an equitable distribution of relief.

Andy Yan, the director of the City Program at Simon Fraser University, cautioned late last year that price declines have taken place only in the top tier of the market, while the middle and lower price brackets remained all but unchanged.

 “The softening of the market and cooling of the market is something that is definitely happening,” Yan admitted, but quickly added that it’s “a little bit premature to know whether the policies are a success or failure.”

The government previously stated that the tax was meant to open up unused houses to would-be tenants squeezed by the lack of availability in the Vancouver rental market.

The highly desirable downtown area, which has an unoccupied rate of more than 1%, is playing host to a large proportion of these empty homes.

Copyright © 2019 Key Media Pty Ltd

Negotiation is truly an art form

Ross Wilson
REM

Over the years, I’ve witnessed countless offer presentation techniques. Many were unprofessional, boring, disorganized, frustrating, inefficient, dumb and alas, sometimes hostile. A distinct lack of formal training is clearly evident in what is arguably our most important direct income-generating activity. Every time you find yourself in front of a client, be they your own or a competitor’s, for durable success, you must make every presentation moment count. And no moments lead more directly to earning commission than during an offer negotiation.

Negotiation is truly an art form. In our industry, as in any other, such skills vary considerably from superb to abysmal. As clearly demonstrated by the industry’s mediocre average income, in my experience, many agents are not much more than couriers and order takers. I’ve met shoe salesman with presentation skills superior to those of many realty agents. It’s no small wonder that a minority monopolize the majority of the business.

When presenting an offer, be sensitive to the moods and needs of everyone around the table, including the other agent. See things not only from your own perspective, but also from theirs. Now and again, take the time to step into their shoes for a few moments. Being narcissistic, blatantly aggressive and unreasonably demanding usually fails to make the sale. Haggling happens and emotions flare, but you’ll fare better with a scalpel than with a machete; even better if the scalpel is wrapped in velvet. Maintain your calm, your centre and be grounded. Focus. Do not permit any negative energy from the other parties to affect your serenity. If you do, you’ll only be feeding theirs. Witness the events, but do not lose yourself in them. Be alert, aware and think before you speak. Make a respectful connection with the parties and your dance is more likely to conclude smoothly and successfully.

Nowadays, it’s becoming common practice for listing agents to refuse the buyer’s rep the opportunity to personally participate in the presentation. They insist that offers be faxed or emailed. In my opinion, that’s a mistake – a big one.

These listers may have duped themselves into believing they’re protecting their sellers from the mysterious pressure tactics of big bad buyer agents. Or they’re heavily relying on technology and totally discounting the human element. Or they’re attempting to save themselves time and effort by circumventing a proven process that’s been around since before they were born. Or they see the buyer rep as a mere courier and would relegate them to solitary confinement anyway while they privately consult with their seller. Whatever their faulty reasoning, unless someone can convince me otherwise, they’re doing their sellers a serious disservice.

Having both reps present increases the overall odds of a successful negotiation. The listing agent enjoys the good fortune of being able to ask questions about the buyer and their offer and to have the seller hear the answers – unfiltered – directly from the buyer’s agent. And it allows the buyer’s agent a fair opportunity to professionally plead their client’s case. Prior to signing back the offer, to test the waters, the seller’s rep can ask the buyer agent to call their client. In other words, it’s a great opportunity to negotiate terms and to avoid having to make unilateral decisions in a vacuum.

If you intend to help your seller make the smartest decision, information is imperative. How the buyer agent responds – verbally and nonverbally – can speak volumes. You could ask questions by phone. But asking strategic questions face to face presents the valuable opportunity to witness and interpret body language, voice intonations and nuance which, in turn, allows you to more competently advise your seller. You get the chance to dance, to develop a feeling about the buyer, and to discuss various strategic counter-offer options.

Imagine for a moment what would happen in a union/management grievance meeting without a representative from each side sitting at the table; not much chance of success. Without the buyer agent in attendance, your seller misses the chance to express themselves to someone who could perhaps directly influence the buyer. With only the listing agent present, there’s no repartee, no professional jousting between the two sides. With polar opposite positions, your seller could push – often unreasonably – with no resistance. In my opinion, that’s not negotiation – it’s demanding.

In my next column of this series on offer negotiation, I address the steps involved in what proved for me to be an effective personal offer presentation style.

© 2017 REM Real Estate Magazine

More young professionals are coming to the region than are leaving it, according to Census data

Joannah Connolly
Western Investor

It has been frequently reported that the high cost of housing is driving the region’s young professionals into a mass exodus to find more affordable homes in less expensive regions – but that’s a myth, according to one data analyst.

Jens von Bergmann, founder of Vancouver-based analytics firm MountainMath, crunched Census data between 2006 and 2016 and found more young professionals – defined as those with at least a bachelor’s degree – arriving in the Vancouver Census Metroplitan Area (CMA) than leaving it.

Von Bergmann broke down the numbers of people with bachelor’s degrees and those without in each of the 2006, 2011 and 2016 Census reports, within three age groups. He found that in the Vancouver CMA, all but one of those cohorts increased in number during that time – and population growth was highest among young people with bachelor’s degrees (see chart below). The only cohort to slightly decrease in population in the Vancouver CMA during that decade was those aged 50-59 without bachelor’s degrees.

“Young people with university degrees continued to arrive in greater numbers than they left well through their thirties and on into their forties,” wrote von Bergmann in his blog on the topic.

In an interview on CBC radio, von Bergmann said, “Of course people are leaving, but they are getting replaced, and then some. So there’s no shortage of professionals here. People move, for opportunities, for jobs, for whatever reason. But it seems here in Metro Vancouver, we don’t interpret these as stories of opportunity, we interpret them of stories of loss. We have a natural bias towards this. The people that we know, who have been here a long time, we see them leaving – we don’t see the people who are coming, who we don’t know.”

Von Bergmann pointed out that there are high levels of job vacancies in the region, but most of them are lower-skilled jobs such as those in the retail and restaurant industries, not higher-paid professional jobs. “It’s a huge problem,” he told CBC.

Von Bergmann concluded in his blog: “We do not have to worry about a ‘brain drain’ in growing cities like Vancouver. Moreover, we don’t have to worry about professionals leaving. Due to better pay, professionals are better equipped to deal with a tight housing market than most others… But it’s the poor and working class we should really be worried about losing. More housing can lead to a more equitable city with room for people who aren’t well-paid professionals or independently wealthy. And if we want to prevent displacement, we should focus more on those actually at risk. That suggests both building more and promoting a LOT more non-market and rental housing.”

Copyright © Western Investor

Amenities at Surrey’s Centra towers to include shared work spaces.

Michael Bernard
The Vancouver Sun

Centra, Surrey, B.C.

Project location:  13868 101 Avenue, Surrey

Project size: A total of 167 studio, one, two, and three-bedroom homes in a 24-storey highrise in Surrey Central District. Close to Skytrain, shopping, SFU Surrey campus, library and rec centre, and Green Timbers Urban Park. More than 16,000 square feet of amenities include work spaces for entrepreneurs and students.

Prices: From $299,900 with 50 of the 167 units priced under $399,900

Developer: Everest Group

Architect: Atelier Pacific Architecture Inc.

Interior Designer:  Cristina Oberti Interior Design

Sales Centre: TBA

Sales phone: 604.498.3887

Website: centrasurrey.com

Occupancy: Late 2021

Centra, a new 24-storey high rise in the Whalley neighbourhood, is developing shared work spaces as part of the 16,000-square-foot amenities space it is developing for its 167 units to be built close to the bustling Central Surrey district on the Skytrain line.

“We expect the demographic is first-time buyers, growing young families and investors,” says Venus Tong, project manager, developer services, for Rennie, which is marketing the homes.

“And we do have co-work space for both students and entrepreneurs in the tower.”

In its marketing materials, Centra says that the building provides “new options for student study sessions and the increasing number of entrepreneurs and telecommuters who work from home either full-time or part-time. (There are) work stations, meeting rooms and places to simply hang out with other like-minded business people.”

Centra also has the advantage of being in a transitional area between the emerging Surrey downtown core and the established neighbourhoods of suburban Surrey, said Tong. “You have the quietness that you don’t normally get in a tower as you are nine minutes away from a Skytrain station.

“That’s kind of a unique feature that we focus on in our ads, that you have the urban energy but still have a suburban feel. That really differentiates Centra from everything else (in the area),” she said. To add to that suburban feel, there is about 9,000-square-feet of landscaping on the parcel.

The homes themselves all have high (eight-foot-eight-inch) ceilings, a choice of light and dark colour schemes by Cristina Oberti Interior Design, and climate control provided through Centra’s integration with Surrey’s neighbourhood utility and air-conditioning by Centra.

Studio suites are 436 square feet while one-bedroom homes range between 469 to 552 square feet; two bedrooms are from 600 square feet to 935 square feet and three-bedroom homes range from 941 square feet  to 1,108. The townhomes range between 1,389 square feet and 2,157 square feet while the penthouses are 1,316 square feet and 1,339 square feet.

All homes come with wide-plank laminate wood flooring and the expansive windows are covered with stylish roller shades for clean, modern lighting control.

The contemporary-styled kitchen comes with Caesarstone countertops, backsplash and waterfall edges. An under-mount stainless steel sink is complemented by polished chrome Grohe fixtures and embellished sleek cabinetry. Studio and one-bedroom homes are equipped with a 24-inch appliance package while the larger homes come with a full-size 30-inch appliance package.

The integrated dishwasher and refrigerator are manufactured by Blomberg while the stainless steel four-burner gas cooktop by Fulgor is accompanied by a wall oven and a Faber stainless steel hood fan and a Panasonic stainless steel microwave with custom trim kit.

The bathrooms feature stainless steel Grohe faucets and showerheads with polished chrome accessory fixtures. Ensuite bathrooms feature floor-to-ceiling porcelain-tiled walls. All homes feature spacious medicine cabinets and shelving for convenient storage.

As well as boasting the shared co-work space, the amenity facility has a fitness room, a yoga room, a dog washing station, and a small do-it-yourself space for small home improvement projects. Also included are a private theatre for movie nights, a party room with a fully equipped kitchen and a parcel delivery room. Every home comes with one parking spot and a storage locker.

Secured underground parking comes with two electric vehicle charging outlets and 17 conveniently located visitor parking spaces. There are also secured access and elevator lock-off controls to each floor. Each unit comes standard with 2-5-10 National Home Warranty.

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