Buyer’s agent: Ian Watt, Sutton Group West Coast Realty
The action
The seller purchased the property in 2010 for $368,000. The buyer is from Edmonton and needed a place close to work. She chose the unit because of location, floor plan and price. Her offer was the only one on the property.
“She came from a super huge three-bedroom townhouse in Edmonton to a tiny one-bedroom for the same amount of money,” Mr. Watt said.
What they got
This one-bedroom, 500-square-foot condo is located downtown across from Emery Barnes Park, four blocks from the Yaletown SkyTrain station. The unit has city views, a den, updated appliances, new floors, a fireplace and balcony. Rentals and pets are permitted.
The agent’s take
Buying agent Ian Watt said the property would have sold for about $100,000 more last fall.
“There’s definitely a market for anything under $650,000 if it’s priced correctly.”
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The new 0.8-acre park will serve over 10,000 residents and 17,000 employees within a five-minute walk to the park site and include a:
Small café space and public washrooms
Community plaza with a decorative water feature and seating throughout
Pedestrian bridge and promontory extending into the Smithe Street right-of-way
Children’s playground
New trees, shrubs and perennials
Over-head sky-frames that will support lighting and ephemeral installations
What’s happening?
The Park Board remains committed to delivering this exciting new downtown park.
The new park design was approved by Park Board Commissioners in May 2016. Since then, staff have evolved the detailed design and in May 2018 received development and building permits.
The board received pricing from pre-qualified contractors in September 2018. However, the bids exceeded the project budget.
In early 2019, staff will select a construction manager from one of the pre-qualified contractors who will work with a design consultant to revise the design and deliver the project within the Park Board’s construction budget. This will delay construction. It is estimated that construction will begin in fall 2019.
In the meantime, Easy Park will continue leasing the site and operating it as a parking lot until construction begins.
Listing agent: Mauricio Vasquez, Prompton Real Estate Services
Buying agent: Ian Watt, Sutton Group, West Coast Realty
The action
Buyer’s agent Ian Watt says the purchaser had sold her previous home and was renting while waiting to buy something smaller. Had she held on to her old house, its value would have dropped by around $400,000 in the intervening time, he estimates. When you factor in what she paid in rent over that time, she still made a good profit.
“She timed it really well,” Mr. Watt says. The buyer plans to renovate this unit and live there. Because it is currently tenanted, the deal doesn’t complete until the end of November. Conditions attached to the original purchase offer were removed on Sept. 13.
The unit has ocean views, floor-to-ceiling windows and an open floor plan.
SUTTON GROUP, WEST COAST REALTY
What they got
This 919-square-foot two-bedroom unit is in the trendy Yaletown district. Built in 2007, the building has 24-hour concierge, spa, yoga room and terrace and is within walking distance of the sea wall and Granville Island.
The unit has ocean views, two bathrooms, geothermal heating and air conditioning, nine-foot ceilings, floor-to-ceiling windows and an open floor plan.
The agent’s take
The unit had been listed previously, for $1.2-million and was relisted at the lower price. The buyer had made her offer subject to appraisal to ensure her bank was okay with the price; however, she didn’t need an appraisal after all. Conditional offers are common in this market, Mr. Watt says. “It gives you time to not panic and to analyze what you are doing, instead of being emotional about the purchase.”
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It’s been years in the making, but the rezoning application for the redevelopment of the Broadway-Commercial Safeway site has finally been submitted to the City of Vancouver.
The application envisions a mixed-use development with residential units (condo, rental and social housing); retail and office space; a childcare facility; a grocery store; and a new public plaza.
The three proposed residential towers are envisioned at 24, 27 and 30 storeys above the retail level, while 520 condo and 160 rental units are included in the project. The public plaza would run parallel to the SkyTrain station.
“The submission is consistent with the Grandview Woodlands Plan — a mixed use development of retail, housing, office, public spaces and amenities,” Westbank spokesperson Jill Killeen told the Courier in an email. “The proposal has evolved since the pre-application open house with public consultation and city input. One of the key differences is that the development now accommodates a large plaza on site, at grade, for the benefit of the community. The Safeway store will remain on one level, and be positioned at grade, adjacent to the new plaza.”
Safeway holds a long-term lease on the site that totals more than 50 years.
The Safeway site at Broadway and Commercial Drive. Photo Dan Toulgoet
The Grandview-Woodland Community Plan, which was approved in 2016, allows for "a mixed-use development at a variety of scales, including mid-rise and high-rise components," as well as residential units, space for a one- or two-storey grocery store, small retail, offices and a public plaza. Under the policy, buildings that are six storeys above a one- or two-storey retail level are allowed on the perimeter, while heights of 12 to 24-storeys above retail are allowed at "key anchor points within the site." Council is able to "consider modest increases in height and density for the delivery of non-market housing to assist with project viability, subject to fit with neighbourhood context," according to the document.
At a 2016 city council meeting about the neighbourhood’s community plan Thom said: “We think there’s an opportunity here to create a different kind of, let’s say, mid-density and mid-rise kind of development on this particular block that could be quite interesting for families and encourage a different prototype in terms of buildings in areas that are surrounded by single-family homes.”
Killeen said his input, which the rezoning application characterizes as "nine big ideas" will be reflected in the redevelopment. The ideas talk about subjects including reuniting the Drive, creating a "vibrant local economy," green urbanism and family space.
“The big ideas from Bing Thom are still very much embedded in the project, and will remain so,” she said, while describing Perkins & Will as a firm “recognized for design excellence and large mixed-use projects on transit, in Vancouver.”
An open house about the rezoning application is expected to be held this fall. A public hearing will likely take place sometime next year.
A land assembly refers to the joining of adjacent lots to make a larger parcel. With a constant decrease in the availability of developable land in the lower mainland, many municipalities and developers are now looking to redevelop and increase density in what were traditionally low density single family home communities.
In Vancouver, land assemblies often occur along major transportation corridors. They are often initiated by adjacent property owners deciding to market their properties for sale all together, although at times a developer may approach a group of property owners and offer to buy all the properties. By selling a property as part of a land assembly, owners are able to demand a higher purchase price since their individual property is worth more to a developer when combined with adjacent properties.
With all land assemblies, consideration needs to be given to the following items:
Intention of all parties in the land assembly to sell;
Whether all properties in the land assembly will be treated equally, or if there are special characteristics of some properties that warrant special treatment, such as a corner lot;
Formula to determine purchase price of each lot;
Whether any of the sellers have specific needs, such as a tenanted property;
The Official Community Plan for the area; and
Whether the land assembly would be viable for redevelopment and therefore attractive to a potential buyer.
Land assemblies differ from traditional property sales, in that they are often contingent on having all the properties in the assembly enter into binding contracts. Additionally, the timelines for land assemblies are often extended, meaning from the time of signing a contract to removal of subject conditions to the completion date, can be several months and even years. Due to this extended timeline, there are generally a number of deposits given throughout the process. Consideration must be given to the amount of time a property is tied up by the contract before the subject conditions are removed, since there is no guarantee the transfer will complete until subjects are removed. Bell Alliance offers legal representation to both buyers and sellers of land assemblies. We are able to guide clients through the process to ensure the transaction unfolds as painlessly as possible.
A land assembly is simply the joining of adjacent lands to make a larger parcel. This is normally done so that the larger parcel can accommodate the building of more living units (be they houses, townhouses, low rise or high rise condominiums). Selling as part of a land assembly usually means that the vendor will get a much higher price than he or she would on a one off sale to an individual buyer.
A realtor knocks on your door and says that he or she is representing a buyer or developer who is interested in purchasing your property as part of a land assembly.
What should you do?
– Find out as much as you can from the realtor about the assembly including who is behind it (i.e. developer, city hall, school board or other government authority or other), how much land is being assembled, what is going to be built on the property (i.e. townhouses, low rise, high rise or other), what is permitted by the current Community Plan for your neighborhood, who else has signed a sale agreement in your area for this assembly, the time frame for the development, whether the realtor wants to represent you or the buyer (dual agency where the realtor represents both the buyer and the seller is now forbidden in BC except in unusual circumstances). Link.
– Ask the realtor to leave copies of all documentation with you for your review including marketing materials, listing agreement and proposed contract.
– Before you sign any listing agreement or contract of purchase, take it you your lawyer for review. Don’t ask the lawyer to “have a peak at the documents” because you don’t want to spend much money. These are complex documents and the lawyer has to take the time to read and understand them in order to properly advise you. I have had clients who have inadvertently signed two year listing agreements for land assemblies, assuming that they could cancel them if the realtor was not performing to their satisfaction. Unfortunately that is NOT the case. In a recent scenario, a school board presented an offer to a client of mine which had an open ended subject removal date (meaning that it would have tied my client’s property up indefinitely). The offer was drafted by a large Vancouver law firm, so one would have to assume that was not a drafting error. Unscrupulous developers, realtors or others often seek to hide unreasonable clauses in the fine print. Don’t assume that you can void a contract because you didn’t read it before signing (you will have an uphill battle in court on that front). Don’t rely on the buyer’s realtor or other third party to explain it to you, in place of your actually reading it or having your lawyer review it and explain it to you.
– THE DEVELOPER’S GOAL: is to tie up your property for as long as possible without paying you anything unless the proposed development goes ahead. The carrot which is dangled in front of you is the potential to get a lot more money for your home than its normal market value. The developer accomplishes this slight-of-hand by the use of “subject conditions,” which are terms which make the contract binding on him only when they are removed.
Typical subject conditions are: • A certain number of neighborhood owners signing on; • Satisfactory Phase I environmental site assessment; • Satisfactory Feasibility Study; • Other due diligence searches and investigations such as title review, soil sampling, site assessment etc.
– Often it can take a half a year or more to complete these matters. In the meantime, your property is effectively tied up. It can’t be sold to someone else and it’s unlikely that you would want to renovate or upgrade it with the possibility of a sale on the horizon. On occasion, the developer will want an Option registered on your property as well.
– THE SELLER’S GOAL: is to have your property under contract for as short a time as possible and to get some non-refundable compensation from the developer if the property is going to be tied up for more than three or four months. Options cost money and there is no reason to grant one to a developer and not get paid something if the sale never materializes. I have had clients who have had their property tied up for eighteen months only to have the development cancelled at the last minute. In such a case, keeping $20,000 or more for your trouble makes the situation somewhat more palatable. Beware the Listing Agreement also. These are very complex, one sided standard agreements drafted by the real estate board’s lawyers. Once they are signed, unless modified by you or your lawyer first, they can lock a seller into a long term relationship with the listing realtor –again effectively tying up your home without compensation.
Other considerations are:
– Payment of the deposit on the subject removal date. That deposit should be minimally 5-10% of the ultimate purchase price, non-refundable and preferably, released to the seller forthwith upon subject removal. If not, it’s held in the real estate brokerage’s or developer’s lawyer’s trust account. Stipulate that it be held in an interest bearing account and that the interest accrues to you if the completion date is more than three or four months down the road. If the deposit is to be held in trust, add a clause requiring the developer’s brokerage or lawyer to release the deposit to you or your lawyer forthwith, if the developer fails to close on the completion date (otherwise, you may have to go to court to get it, as the Real Estate Services Act requires either mutual consent or a court order to have a deposit released. Link.
– Rent back. Often, the development may not be built for a year or more after the completion date. In such case the house may be livable during that period and the seller should negotiate for free rent for a year or more, while he or she finds somewhere else to live. Make sure that there is a sub-lease clause so that if the seller finds another property to buy or rent that he can sublease the property to someone else and keep the rent as part of his remuneration.
– VIP or Friends & Relatives status on developer’s other projects. If the developer is a large one like BOSA, Polygon, Pinnacle, West Bank, Onni, etc., you may be able to obtain preferred status on their other developments, if you see something in their other offerings which is appealing.
– Capital gains and other tax implications. Even before your lawyer reviews the documents, a call to your accountant is in order to understand what the tax implications are of your possible sale. In the case of a single family dwelling on a normal sized lot which has been used for residential purposes, it is almost certainly a non-taxable transaction. However if the property was an acre or two and/or used for commercial activities there may be capital gains or GST consequences. In real estate, all surprises are bad as a rule, so it’s best to find out in advance.
– What is out there for you to acquire? Ask your own realtor to advise you about what you could buy for the suggested sale price in the area that you want to re-purchase in. Often people are shocked to find out just how little they can buy for a million dollars these days (particularly if they bought a long time ago for a hundred thousand dollars or less!)
– Never make a rushed decision. Developers and realtors are always pushing for a signature NOW. Take your time and assess the situation in consultation with your lawyer, accountant and your own realtor. In most instances, it’s the land assembler that is coming to you, not the other way around, so you are in the driver’s seat as long as you don’t give in to fear or greed.
Conclusion
Land assemblies are here to stay. With 40-50,000 people moving to the Lower Mainland yearly and every politician and his dog in favor of increasing density (although how that is either “green” or “sustainable” is a mystery to me), it’s wise to at least be aware of the basics if you find someone knocking on your door to buy your property for this purpose.
If you have any questions, or want to share your land assembly story we would love to hear from you! Feel free to contact Kenneth Pazder or Melissa Valana at 604-682-1509.
Disclaimer: The foregoing is not intended as legal advice. It is presented for information purposes only. Always consult legal counsel before signing a land assembly contract or listing agreement for same.
The meeting with Klein Group signed owners this morning went very well. It was quite upbeat with a close to full house, along with 17 owners that had emailed Klein Group their wishes for voting on the proposed instructions from all the signed owners to Klein Group. After presenting a summary of the history of the AP assembly from the first meeting with the AP strata councils to today, and an update of market for downtown commercial properties, Klein Group also presented some information on the new assembly they are working on across Hornby Street from AP3.
About 18 months ago, that 87 unit strata was faced with the need to have substantial special assessments to maintain their building. There is only a single council involved, who appointed a building committee to help evaluate the options after they received their Depreciation Report. They analyzed the options and brought the matter to their AGM where the vote was 85% in favor of going to market rather than put in an awful lot of money into their 40 year old building. Klein had been shortlisted and then chosen to try to do an assembly. The legal review of the Klein Group Listing Agreement was completed in 3 business days. Over the course of the next 2 months, all council and building committee members signed with Klein.
Once that was completed, Council and Building Committee members assisted Klein Group in reaching out to owners, without spending any strata funds. Klein Group then contacted the owners and had 80% assembled and listed in 6 weeks.
The Klein Group Listing agreement there is identical in form and fees (including the incentive fees) to the Listing Agreement he is using at AP. There was one provision that differed based on an internal allocation on sale proceeds in their strata documents. So, at least one other strata in our immediate vicinity acted without hesitation and is moving forward to market in the first quarter of 2018.
Turning to our situation at AP, there are 3 stratas whose councils have historically never worked well together and were not willing to recommend any brokerage. That changed with the new AP3 council, which has recommended the Klein Group assembly approach.
Looking at where our overall ownership group is at the moment, it is splintered. On the one hand, there is the Sotheby's offer which has not yet completed on any units. The prospective purchaser has no experience in large strata acquisitions or developments, and does not appear to have the financial wherewithal to complete an assembly. Owners with Sotheby's contracts have not received any funds, to our knowledge. It was my guess at the beginning that they were likely in to try to flip units rather than actually purchase the AP site. This looks more and more accurate.
On the other hand, there is the APSC push to have owners sign with Michelle Yu Group. The APSC has received some kind of advice from Ed Wilson. In one document he says that agreement was reviewed by the APSC lawyer (which seems to be him). At the public meeting, he said that it was not his agreement, that he would have put additional provisions in it, but that it was based on another agreement he had done. He recommended owners sign it while at the same time telling owners that the assembly would fail, holdouts would get higher prices and to come to him for a Bill 40 windup in a year. Taken together, those various statements are not particularly clarifying.
There is a new managing broker and ReMax supervising MYG. The previous managing broker resigned two days after receiving the letter detailing problems in the MYG Listing Agreement that referred to Klein Group without permission and in a disparaging way. The new managing broker has confirmed that the offending paragraph was inappropriate and should not have been in the agreement. All MYG agreements will have to be re-signed or at least amended in writing.
There is another issue with the MYG agreement, relating to insurance. Ed Wilson's memo dismissed the insurance issue but it seems the Klein Group is indeed correct – the conventional insurance realtors have does not cover this kind of transaction. Additional insurance is required. Further, the insuror for realtors in BC confirmed that a transaction where two brokers “cooperate” as Ed Wilson's memo stated to be appropriate and no problem, is simply not insurable – just as Klein Group had stated.
We will have to see where this goes as to ReMax and MYG, but it appears that the information presented by Klein Group is again correct. The advice distributed by the APSC is incorrect. It was not checked or approved by ReMax lawyers prior to being promoted to APOG owners.
This brings us to the final question presented by Klein Group. Neither the Sotheby's purchase agreement nor the MYG Listing Agreements includes a requirement that there be a minimum percentage of units, even on a best efforts basis, to go to market. Therefore, Klein Group owners are at risk that one or both of those brokerages might go to market with a blocking position of 20% on the units. This blocking position might be sold at a premium, but whether it sells at a premium or not, it will diminish the value of the units owned by Klein Group listed owners as well as owners that have not listed with any firm.
Klein's proposal was to see how his listed owners wanted to proceed as he views his fiduciary obligation to the owners as paramount. He was quite clear that the best price will be reached, and the most effective approach is, by assembling 80% to 100% and then going to market. He was clear that there was a risk in doing nothing as the other brokerages approaches would likely undermine the value of units owned by those listed with him as explained above. Finally, he was emphatic that there was no certainty that there was a market at all for a 27% interest in the AP complex.
The question posed to his owners was whether or not they wanted to instruct Klein Group to proceed in parallel with 1) the primary instruction being to continue to seek to assemble 80% to go to market as originally contemplated; and 2) to test the market with the 27% now listed with Klein Group (plus whatever additional units join for the assembly going forward) when he goes to market with the property across Hornby Street.
The vote in person and by email instruction was unanimous. 100% of the units participating voted to proceed in parallel.
This means that for those that have yet to sign with Klein Group, a decision point is here - whether or not to participate in an assembly. For those that have signed with Sotheby's, this is important: Sotheby's represents the buyer, not the sellers. This means that those owners have no representation. They could sign with Klein Group right now.
Why should they? Besides getting representation, I have confirmed with Klein Group that they would exclude their fee from any currently signed Sotheby's offer to purchase, so that if Sotheby's client does complete on the contract, there would be no fees payable to Klein Group. If Sotheby's doesn't complete, they would be included within the Klein Group listed ownership group when they go to market.
I received an email forwarded from a member of this group from the APOG steering committee, the APSC. The message is that they have located another broker, the Michelle Yu Group, willing to do a land assembly at a lower commission rate than the Klein Group. I do not have a copy of the listing agreement from the Yu Group, but I have requested one. Until I have seen the actual agreement, I cannot be certain of its contents. However, in the email from the APSC, it says that the listing agreement with the Yu Group follows the APSC proposal sent to Klein by Ed Wilson, the APSC attorney. The discussion below is based on the APSC proposal. If the substance of that proposal is not what is sent out by the Yu Group, then these comments will be updated as appropriate. In short, be wary. The email states that the basic provisions are a land assembly at a lower commission rate and a shorter term. The listing amount is higher but that is fundamentally irrelevant – it is simply an estimate of what o…
We now have confirmation that all of the existing MYG agreements will have to be amended. The amendments will, at least, remove all references to Klein Group and brokerage cooperation. This was a decision made by the Managing Broker of ReMax. What other changes he will require to the agreements are as yet unknown, but the agreement put together at the instruction of the APSC with MYG, and input from Ed Wilson, will be changed. It turns out that the MYG agreement was never reviewed by ReMax lawyers. MYG never took the trouble to have it reviewed. Clearly, the new managing broker identified several major flaws and is requiring that the agreement be amended. It turns out the Klein Group was also correct on the insurability of the “cooperating brokerages” scenario promoted by MYG and Ed Wilson – it is not insurable. Further, contrary to Ed Wilson's representations, the standard insurance realtors carry is not nearly sufficient for a transaction of this nature. Remax is going to have…
Image courtesy of Kai Han via roomvu - real estate marketing
While luxury homes are a commodity that only a few can afford, it’s hard to deny — they’re very fun to look at.
This month’s roundups of Vancouver’s most expensive listings by roomvu are nothing short of awe-inspiring. Think high ceilings and stunning open-air lighting, coupled with clean, modern colours and gorgeous earthy tones.
So, here’s to some of the city’s most beautiful homes (whether you can or can’t afford them).
These are the most expensive listings in Vancouver right now.
Vancouver Real Estate | Houses for Sale in Vancouver - RE ...
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CA$1,188,000.00 to CA$16,980,000.00
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Bottomed out? Metro Vancouver home sales leap 46.3 per cent
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Vancouver Real Estate - Vancouver BC Homes For Sale | Zillow
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21 hours ago - The Metro Vancouver real estate bounce appears to be holding, with realtors reporting September sales up 46 per cent from the same month ...
Vancouver, BC MLS® Listings & Real Estate for Sale | REW
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REW.ca provides the latest MLS® listings of houses, townhomes, and condos for sale in Vancouver, BC. View Vancouver homes for sale.
21 hours ago - The Real Estate Board of Greater Vancouver says 2,333 homes sold in September, up from 1,595 sales last year. The Real Estate Board of Greater Vancouver says home sales jumped 46.3 per cent in September compared with last year to hit near average levels after a decline in prices.
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CA$1,188,000.00 to CA$16,980,000.00
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Zillow has 303 homes for sale in Vancouver BC. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
Sep 25, 2019 - Has the Greater Vancouver housing market turned a corner? At least one expert believes buyers are ready to rekindle real estate in our region.
Open House on Saturday, October 5, 2019 1:00PM - 3:00PM
1pm to 3pm Saturday Open House :)
Very private and unique main level condo with large patio facing the bike lane and One Burrard Place Luxury Condo Tower. This ground level one bedroom corner unit stands apart from most Anchor Point suites: northwest exposure with a large patio which feels private and comfortable. Kitchen, bath, flooring are all redone. Huge common garden area & expansive rooftop patio. Parking is rented from the strata. Anchor Point is located in an area that is changing with many high end condos, coffee shops, and exclusive restaurants. Steps to the Aquabus to Granville Island & Seawall. Developers have been inquiring about acquiring the Anchor Point properties for redevelopment at a significant premium. This is a great, affordable opportunity in a fantastic location. 1pm to 3pm Saturday Open House :)
David Hutchinson PREC. Online, On TV, On Always. Seen on CTV, CBC, Global News, Vancouver Sun, Vancouver Province, Metro News.
-----------------David Hutchinson with Sutton Group West Coast joins CTV News Channel for more details on what that means for the market-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
....................................David Hutchinson from Sutton Group West Coast.on CTV.....................................
Home sales in Greater Vancouver for June lowest in nearly 20 years
$1,138,000
Residential Detached
531 FOURTEENTH Street
New Westminster
RT-1 DUPLEX DISTRICTS New Westminster great location investment property. Two self-contained units, and three kitchens. The main floor and top floor is a four-bedroom, and finished basement has three bedrooms. This a very functional 7-bedroom, 3-bathroom property with a single garage, good revenue, and development potential.
Sutton Group-West Coast Realty
$449,000
Residential Attached
105 1333 HORNBY Street
Vancouver West
Welcome to Anchor Point! Quiet studio unit with gate, and private access. Like a townhouse! Great investment & central location in Vancouver City Centre next to Burrard & Davie Street steps the Aquabus & Yaletown Seawall. Walk to shops, restaurants & beaches. Freehold strata, concrete building. Great outdoor space & pet friendly. Close to everything, this great city apartment is priced to sell. Parking is available to rent for $50 per month form your own strata. Hot water heat included in maintenance fee. This brick building is centrally located in downtown Vancouver among several new high end developments only minutes to shopping, dining & transit.
Sutton Grp-West Coast (Brdwy)
$349,000
Residential Attached
606 3771 BARTLETT COURT
Burnaby North
The "Birch" at Timberlea. Move in condition bright Southwest corner suite with fresh paint, laminate floors & mirrored doors. Entertainment sized living and dining area with sliding doors out to wrap around balcony looking into trees & greenery. Strata fees include heat, hot water, electricity & fabulous recreation facilities with indoor pool, exercise center & club house, workshop & more. Includes 1 parking & 1 storage locker. Walk to Skytrain, Lougheed Mall and miles of walking and cycling trails. Short drive to SFU, Highway 1, Lougheed Highway and all access points. Maintenance fee includes heat & hot water. 2 dogs allowed! Solid, concrete building in the most convenient location.
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$669,000
Residential Attached
505 1088 Richards Street
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Yaletown Living ... Richards Living . . . Welcome to the heart of Yaletown steps to fine dining, shopping, nightlife, seawall, parks and Skytrain.This West facing one bedroom plus den unit offers floor to ceiling windows, well designed kitchen featuring top of the line S/S appliances, granite counters, upgraded hardwood, laminate floors & outdoor balcony. Building amenities include: Podium level urban garden, fitness centre & amenity room. One parking & storage.
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$620,000
Residential Attached
3307 1495 RICHARDS Street
Vancouver West
Highest 1 bedroom condo at Azura II below the penthouse floors. Great views, and a perfect location at George Wainborne Park in Yaletown. Steps away from the seawall, shops, Urban Fare, Choices, English Bay, Sunset Beach and many upscale restaurants. Azura II features 24-hour concierge, indoor pool, sauna, steam room, squash courts, library, full gym, offices, theatre and a guest suite. Very functional layout with in suite storage and wonderful views.
Sutton Grp-West Coast (Brdwy)
$699,000
Residential Attached
435 VERNON Drive
Vancouver East
Welcome to this one level brand new townhouse located in historical Strathcona inside the cities new revitalization planned area in the Hastings Corridor. This gem was built by Adobe Construction (40 years experience) and designed by Corner Stone Architecture. Features: 2-5-10 Warranty, bright large open layout with French doors leading out to a large patio. High-end wood finishing's, quartzite countertops, wide plank oak flooring, powder room on main floor, stainless steel LG appliance package, gas fireplace, exquisite master bathroom with a large walk in glass shower, secured garage parking and storage. Open House Saturday December 23rd from 1-3 pm.
Sutton Centre Realty
$1,488,000
Residential Attached
2021 W 10TH Avenue
Vancouver West
Fabulous concrete, corner 2-bdrm + den (could be 3rd bedroom) 2.5 bathroom townhome steps to the ARBUTUS GREENWAY, and the future SkyTrain to UBC at Arbutus Station. Walk to French Immersion, parks, schools, beaches & pools. Enjoy the coffee shops, parks, restaurants, fitness, & the B-Line to UBC. Townhouse entry from the street into your private patio oasis with outdoor water line for gardening, gas line for BBQ's or outdoor fireplace. The main floor features thick quartz kitchen countertops, two-piece powder room, and immediate access to the fitness room and amenity area. BONUS 2 PARKING! This newer concrete building “West 10th & Maple at Arbutus” an amazing location for walking/cycling to Granville Island, & Kits Beach.
Sutton Group-West Coast Realty
$570,000
Residential Attached
302 2528 COLLINGWOOD Street
Vancouver West
302 2528 Collingwood Street, Vancouver V6R 0C1. Great layout, open concept one bedroom quiet south-facing at The Westerly in fabulous Kitsilano. A great furnished rental or perfect starter home with over-height ceilings. Conveniently located near transportation, beaches, parks, restaurants and shopping. Modern sleek interiors combined with solid construction. Fisher & Paykel stainless appliances, wide plank flooring throughout, quality bathroom fixtures and custom cabinetry. An affordable option in a modern building in a great place to live, and a wonderful lifestyle.
Sutton Grp-West Coast (Brdwy)
$129,000
Commercial
SL 215 433 ROBSON STREET
Vancouver West
This is a rare and exclusive opportunity to purchase a downtown strata unit storage locker located within the Westin Grande Hotel property. The strata unit is located on the P1 level and provides a clean and secure storage area in an extremely convenient location with elevator and vehicle access.
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$400,000
Commercial
114 1118 HOMER STREET
Vancouver West
Prestigious, well-organized, and reputable ART GALLERY that includes the strata lot, good will, and over $500,000 in documented art, maps and prints right in the heart of Yaletown with street level access to Homer St & Hamilton St. Over-height 15-foot ceilings in this heritage loft building with exposed brick and wooden beams. This turnkey business is very easy to operate and profitable; there is tremendous upside to increase sales in this already lucrative gallery. The stock includes a wide variety of decorative engravings, Japanese Woodblock Prints, botanicals, architecturals and natural history with historical views of towns and cities, and cover the world in their range of maps. Operating house are currently Wednesday - Saturday 11am. to 4pm. only, so there is tremendous upside to increase income by expanding hours of operation, and also through Internet/eBay/Social Media & PayPal sales and marketing. This truly is a perfect opportunity to own a first-class business in a world-class location.
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$500,000
Residential Attached
417 1500 PENDRELL Street
Vancouver West
Newly renovated, oversized one-bedroom steps to Lord Roberts Elementary, high school, beaches, and the Seawall. The building takes up the entire city block with development potential; lots of underground parking; a large shared common area patio with BBQ, and garden area. Situated in the heart of the West End on a quiet, tree lined street. This pet & family friendly building has hot water and heat included in the maintenance fee, parking and storage. Walk to vibrant Davie Street, nearby shopping and many restaurants from this very quiet unit with large balcony overlooking a leafy, tree-lined greenbelt. Building previously had offers as a land assembly. $534,000 in contingency fund.
Sutton Group-West Coast Realty
$450,000
Residential Attached
109 950 DRAKE Street
Vancouver West
Very private and unique main level condo with large patio facing the bike lane and One Burrard Place Luxury Condo Tower. This ground level one bedroom corner unit stands apart from most Anchor Point suites: northwest exposure with a large patio which feels private and comfortable. Kitchen, bath, flooring are all redone. Huge common garden area & expansive rooftop patio. Parking is rented from the strata. Anchor Point is located in an area that is changing with many high end condos, coffee shops, and exclusive restaurants. Steps to the Aquabus to Granville Island & Seawall. Developers have been inquiring about acquiring the Anchor Point properties for redevelopment at a significant premium. This is a great, affordable opportunity in a fantastic location. 1pm to 3pm Saturday Open House :)
Sutton Group-West Coast Realty
$20 $4043
Commercial
6941 HASTINGS STREET
Burnaby North
Located in a very central location in Burnaby North in the same location as high-profile Firestone and Driveline Automotive. Perfect office AND workshop/storage space -- backend of Firestone. This overheight unit with large loading bay and door is located at the rear with paved driveway and ample parking in a secure, fenced area. Above is 1213 sq ft of office space with washroom, and below is 1213 sq ft of warehouse space with high ceilings and loading bay door. Great space for your office above, and business/equipment area below. Large garage doors that open up completely for your booms and such. Have a growing painting business or other construction business? This is the place for you! PLUS another 1213 sq ft office space up to with bathroom and small wet bar. Fenced off ample parking also. Renting both spaces together as they are connected warehouse and office. An amazing opportunity in the right location. Back end of Firestone Building on East Hastings just before the Barnet Highway. Must see!
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$578,000
Residential Attached
1705 111 W GEORGIA Street
Vancouver West
City views from this one-bedroom with very functional den/solarium + flex space at Spectrum by Concord! WALK SCORE 98! SKYTRAIN ACCESS ACROSS! Welcome to Spectrum by Concord Pacific. A spacious and bright 1 bedroom 1 bath with FLEX in one of the most desirable locations Downtown Vancouver. This home features an open concept living with no wasted space, west facing balcony to enjoy coffee/tea, laminate flooring, in-suite laundry and an open kitchen. The building offers great amenities: 24-hour concierge, pool, hot tub, party room, gym, and bike room. Steps to Skytrain, Costco, BC Place, Rogers Arena, T&T Market, the public library, Gastown, Yaletown, Seawall, restaurants, cafes, and shopping! Open House: Sat & Sun, Mar 18th & 19th, 2-4 PM.
Sutton Grp-West Coast (Brdwy)
$419,900
Residential Attached
603 3740 ALBERT Street
Burnaby North
This fully renovated, view condo is on the quiet side of the building with an excellent layout, large house-sized rooms, & oversized balcony with three sliding glass doors with views to the city, water and mountains in a concrete Bosa building that has many upgrades including re-piping 2007, balconies 2008, balcony dividers 2009, and exterior painting 2009. Spectacular view to North Shore Mountains, Lions Gate Bridge and Burrard Inlet with an oversized 150 sq ft balcony. This home features brand new appliances, engineered laminate wood flooring, designer kitchen cabinets, quartz countertops, & new paint throughout. Unbeatable location close to all transportation, outdoor New Brighton Pool, Eileen Daily Pool & Recreation Centre, shopping & restaurants.
Sutton Group-West Coast Realty
$1,499,000
Residential Detached
3859 TRIUMPH Street
Burnaby North
A large 50 X 122 lot in a great location in North Burnaby. Located in coveted Vancouver Heights with a private yard that is beautifully landscaped for your outdoor BBQs. UNBEATABLE LOCATION in Vancouver Heights at the Vancouver/Burnaby border. Easy access to Hwy 1, a short drive to Gastown, downtown, Yaletown, Coal Harbour, downtown Vancouver, and Brentwood Mall. A short 5 minute stroll to shopping and coffee at "The Heights" which offers pubs, eateries, delis, numerous coffee shops and grocery stores. A few minutes to New Brighton outdoor pool, indoor Eileen Daily Pool & Recreation Centre, Confederation Park, and the local library. Nearby school options are Kitchener & St Helen's Elementary schools; Alpha & Notre Dame Secondary schools; and up the hill to SFU.
Sutton Group-West Coast Realty
$599,000
Residential Attached
711 950 DRAKE Street
Vancouver West
Welcome to Anchor Point! Great investment & central location in Vancouver City Centre next to Burrard & Davie Street steps the Aquabus & Yaletown Seawall. Walk to shops, restaurants & beaches. Freehold strata, concrete building. Close to everything, great city apartment. Parking is available to rent for $40 per month from your own strata. Hot water heat included in maintenance fee. This brick building is centrally located in downtown Vancouver among several new high end developments only minutes to shopping, dining & transit. Potential Anchor Point Land Development, priced below the proposed offering prices.
Sutton Grp-West Coast (Brdwy)
$1,199,000
Residential Attached
431 VERNON Drive
Vancouver East
Very rare brand new 3 bedroom, 3 bathroom two level coach house with a street entrance in sough after Strathcona. Location is inside the cities new revitalization plan of the Hastings Corridor. This gem was built by Adobe Construction (40 years experience) and designed by Corner Stone Architecture.. Features: 2-5-10 Warranty, bright large open layout with French doors leading out to a huge 300 sqft wrap-around patio. High-end wood finishing's, quartzite counter-tops, wide plank oak flooring, powder room on main floor, stainless steel LG appliance package, gas fireplace, exquisite master bathroom with a large walk in glass shower, secured garage parking and storage.
Sutton Centre Realty
$1,199,000
Residential Attached
433 VERNON Drive
Vancouver East
Welcome to this brand new 3 bedroom, 3 bathroom two level townhouse located in historical Strathcona inside the cities new revitalization planned area in the Hastings Corridor. This gem was built by Adobe Construction (40 years experience) and designed by Corner Stone Architecture. Features: 2-5-10 Warranty, bright large open layout with French doors leading out to a large patio. High-end wood finishing's, quartzite countertops, wide plank oak flooring, powder room on main floor, stainless steel LG appliance package, gas fireplace, exquisite master bathroom with a large walk in glass shower, secured garage parking and storage.
Sutton Centre Realty
$1,420,000
Residential Detached
2716 YALE Street
Vancouver East
Cozy 2-bedroom house with newer bathroom, and potential for third bedroom in the basement in the highly desirable pocket of the Point Grey Road of East Vancouver. Perched on the elevated the south side of Yale street with views of the North Shore mountains and the water. Walk to dog-friendly Burrard View Park; Trinity Street Christmas lights & cherry blossoms; Hastings Racecourse & Casino; New Brighton Park & Outdoor Swimming Pool; and all the shops and restaurants up and down Hastings Street. Great schools: Hastings Elementary/French immersion; Our Lady of Sorrows; West Coast Christian School; award-winning Templeton High School; and nearby Simon Fraser University. Minutes to downtown, Gastown, Yaletown, and skiing the local mountains.
Sutton Group-West Coast Realty
$1,499,000
Residential Detached
2475 E 2ND Avenue
Vancouver East
Large 49.5 x 122 foot lot. Cute, livable house in an excellent, central location. Nearby great schools, convenient transit, shopping, and Rupert Park Pitch & Putt Golf Course. Close to local ski mountains, the highway for access to all locations, and 10 minutes from downtown Vancouver. 2 bedrooms up, 2 bedrooms down, living, dining, kitchen, pantry, laundry area, and full, unfinished basement. Great backyard with lane access, and very quiet yet very central location.
Sutton Group-West Coast Realty
$1,900,000
Residential Detached
885 NANAIMO STREET
Vancouver East
Potential Land Assembly! The house is livable, but needs some TLC. Within the 'Grandview-Woodland Community Plan'. Potential for courtyard townhouses with commercial uses--retail or office--for ground floor spaces on main. New Community Plan shows Land Assembly for 3.5 Storey townhouses. Nanaimo Street defines the eastern edge of Grandview-Woodland. A wide street that came about when it marked the old city of Vancouver boundary. Potential option to build four-storey apartments on larger sites with city approval. Approved community plan. More info: Grandview-woodland-community-plan.
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$799,000
Residential Attached
1505 159 W 2ND AVENUE
Vancouver West
TOWER GREEN AT WEST in False Creek - centre of the Olympic Village. Vibrant, friendly & independent community. Views of the cityscape, steps away from a public transportation in any direction: Skytrain, Canada Line to YVR, UBC, Aquabus & miles of seawall recreation just steps away. This bright spacious large 1-bedroom and den features Euro style kitchen with backsplash. Gourmet chef's kitchen includes stainless steel appliances, imported quartz counter tops with breakfast bar. First class amenities include visitor parking, meeting room, exercise gym, outdoor patios with garden plots, party room, TV room & more!
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$2,499,000
Residential Detached
1733 E 1ST Avenue
Vancouver East
Wonderful house in a great, central location with development potential under the Grandview-Woodland Community Plan. Minutes to Downtown and literally steps to Commercial Drive with revenue potential. 4 Storey Apartment Developement Opportunity. Proposed 1.7 FSR. The Official Community Plan has designated this location for an increase in density. Great Location, Nearby parks, schools, near Commercial Drive. The Drive is at your doorstep. This RT-5 property is as is, where is & can be renovated to suit a multi-family conversion, or seniors' housing.
Sutton Group-West Coast Realty
CTV News Montreal David Hutchinson from Sutton Group West Coast.
CTV News Channel: Montreal is looking like Canada's next hot housing market. For more, we are joined by David Hutchinson from Sutton
CBC British Columbia
✔@cbcnewsbc
After soaring, home sales in Lower Mainland have dropped dramatically and prices have followed, falling 12 per cent in just a year. @CBCgreg spoke to some people who are now facing big losses.
“Condos seemed almost indestructible,” said Vancouver realtor David Hutchinson.
CBC NEWS INTERVIEW WITH DAVID HUTCHINSON REALTOR SUTTON GROUP WEST COAST REALTY
CBC NEWS IN YALETOWN WITH DAVID HUTCHINSON REALTOR SUTTON GROUP WEST COAST REALTY
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The Safeway site at Broadway and Commercial Drive. Photo Dan Toulgoet
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