Landmark on Robson – New Development

landmark on robson

Landmark on Robson – New Development by ASNA Robson Landmark Holdings Ltd.

1400 Robson St. Vancouver, BC

At the center point of Vancouver’s downtown core is the emergence of Landmark on Robson, a new development coming to Vancouver’s West End in 2023. With a sophisticated aesthetic and beautifully designed interiors, Landmark is eagerly anticipated by the local and international elite. Situated in one of Vancouver’s most desirable neighbourhoods, the high rise showcases a total of 32 floors and 237 units. With 1 to 3-bedroom apartments, there will be something available for everyone.

Location – Robson

Known as the heart of downtown Vancouver, Robson Street is one of the premier addresses in the city.

Landmark on Robson -new development
Landmark on Robson

Luxury Residences

Designed by international award-winning interior designer Ikebuchi, Landmark on Robson showcases the sweet spot of luxury and functionality fit for living in comfort and style.

Landmark on Robson -new development
Landmark on Robson

Interiors

Each Landmark suite displays elaborate custom wood surround, integrated cove lighting, custom closets with detailed fixtures, and extreme attention to detail. Bathrooms come in various custom tones including a light fluorescent grey, and a dark opulent grey. Landmark kitchens by Minotti Cucine feature an artistic design based on minimalism and essentialism. Kitchen appliances are by Gaggenau, the world’s leading brand of high-performance, professional-grade cooking technology. Featuring sleek surfaces, rich minerals, and cutting-edge systems, Landmark’s kitchens are simply spectacular.

Landmark on Robson -new development
Landmark on Robson 

Sky Terraces

Landmark on Robson showcases terraces that surround the entirety of the building. These terraces feature floor to ceiling glass, integrated operable windows with ambient lighting, and wood-like finishes that create an indoor to outdoor flow.

Landmark on Robson -new development
Landmark on Robson

Amenities

The Landmark development features 18,000 SF of private space, custom designed for its residence.  Amenities include 24-hour concierge and security service, a fitness and yoga facility, sauna, ozone pool with tanning space, couture salon, private dining room, indoor pool and lounge.

Landmark on Robson -new development - ozone pool
Landmark on Robson

Lifestyle Concierge Services

Landmark on Robson features exclusive lifestyle concierge services unique to the building that offer tailored services to each resident. From chauffeured cars, dog-walking services, personal trainers, or visit from a private make-up artist, the lifestyle concierge has you covered. It is truly a feature you cannot get anywhere else in the city.

Landmark on Robson -new development
Landmark on Robson

The typical home price range from approximately $2500 -$3000 per square foot for the first tower. Prices for the second tower- to be released next year will be higher.  Sales for available units range from $1,471,000 for a one bedroom to over $20,000,000 for the 3 bedroom penthouses.    For private purchase appointments please contact me at 604 612 6392

Landmark on Robson

Project Address: 1400 Robson St., Vancouver

Project Scope: At total of 237 suites in two concrete highrise towers with views of Coal Harbour, the North Shore Mountains, English Bay, Stanley Park and the city skyline.

Developer: ASNA Robson Landmark Holdings Ltd.

Architects: PDP London and MCM

Interior Design: Atelier Ikebuchi

Occupancy: spring 2023

 

 

 

Butterfly Development

Butterfly Entrance

 BUTTERFLY DEVELOPMENT BY WESTBANK

The Butterfly Development by West Bank is a collaboration with Bing Thom Architects. The Butterfly at Nelson and Burrard will offer 331 residential suites available for pre sale today.  This new development involves the heritage restoration and expansion of the First Baptist Church adjacent to the site.

Construction, which will occur in two phases, is scheduled to begin in May 2018, with full completion anticipated for 2023.

The Butterfly Tower
Butterfly


+ 57 storey tower
+ 1-3 bedroom homes, 6 sub penthouses, 2 penthouses
+ Homes from 612 sq/ft to 5,163 sq/ft

BUTTERFLY Unit Features and Amenities 

150 meter swimming pool amenity
Butterfly swimming pool
swimming pool
swimming pool
Butterfly top
Top down Butterfly Perspective

Butterfly Development Highlights

  • Home interiors are custom designed and curated by Bing Thom Architects
  • Each floor will feature an exterior courtyard (the “breezeway”) as opposed to a traditional corridor featuring custom tree planters every third floor
  • Large scale matte white flooring throughout all living areas
  • Exterior walls lined with honed white pre-cast concrete walls with terrazzo finish interior
  • Curved glass wall separation between living room and 2nd bedroom
  • Custom designed, Italian crafted kitchen
  • Soft-closing precision cabinet drawers and doors with wood-reveal interiors
  • Custom designed kitchen island organically shaped with eucalyptus wood base and white matte solid surface countertops
  • Countertops, sinks and backsplashes finished in white matte solid surface
  • Faucets finished as accent pieces in brushed brass (Gold) or brushed stainless steel
  • Miele and Sub-zero kitchen appliance package
Butterfly - Fitness Centre
Butterfly – Fitness Centre
Butterfly - Living Room Interior
Butterfly – Living Room Interior
Butterfly - Bathroom Interior
Butterfly – Bathroom Interior
Butterfly - Concierge Desk
Butterfly – Concierge Desk

Butterfly Development Pricing

The typical home price will range from approximately $1700 to $3000 per square foot and up.

For private purchase appointments please contact me at 604 612 6392

THIS IS NOT AN OFFERING FOR SALE. 

ANY SUCH OFFERING CAN ONLY BE MADE BY WAY OF DISCLOSURE STATEMENT. E. & O. E.

Terrace House Development

Terrace House - model

Terrace House Development by Portliving

Award-winning real estate developer, PortLiving, and world-renowned Japanese architect, Shigeru Ban, are collaborating to develop one of the last available properties in Vancouver’s Coal Harbour neighbourhood. Terrace House will be Ban’s first development project in Canada and is slated to become the world’s tallest hybrid timber building.

Designed by Pritzker Prize winning architect Shigeru Ban, Terrace House represents the best in design, exclusivity and luxury urban living. Offering cutting edge design and material use, Terrace House will set a new precedent for architecture and innovation not only in Vancouver, but around the world.

The project consists of 20 private homes carefully assembled within an architectural masterpiece – a magnificent icon set in Vancouver’s Coal Harbour, adjacent to the landmark-listed Evergreen Building, designed by the late Arther Erickson.

The design of the ‘Terrace House’ pays tribute to its neighbour, adopting many of the architectural cues of the Evergreen.  Visually, the terraces on the ‘evergreen building’ continue almost seamlessly across ‘terrace house’ on every level, while triangular shapes, natural materials, and greenery have been used throughout both schemes. ‘Shigeru ban has tremendous respect for Arthur Erickson’s work,’ said Dean Maltz, managing partner at Shigeru Ban Architects Americas. ‘it was the opportunity to design a building next to one of Erickson’s masterpieces that initially drew him to this innovative project.’

Terrace House Development adjacent to the Evergreen Building
Adjacent to the Evergreen Building

According to the design description, “meticulously engineered timber” will be used to create the building’s latticework frame, which will be interspersed with an abundance of greenery rising up from the ground floor. The proposed design will create not only the world’s largest timber hybrid structure, but will be a luminous icon for Vancouver’s growing cityscape

The project boasts an  impressive lineup of professionals working on this project – Shigeru Ban, mastercraftsman Hermann Blumer, landscape architect Cornelia Oberlande

According to the developers, the primary goal of the project is to make a statement of intent concerning vancouver’s commitment to sustainable design and advanced timber engineering and construction.

 ‘we have brought together the best of the best — a team of true experts in creative collaboration, working together for the first time ever on a single project. the result is truly a once-in-a-lifetime project setting new standards in design and construction’

“We are honoured to be working with Shigeru Ban and his team to bring a visionary design and new landmark to the City of Vancouver,” said Macario (Tobi) Reyes, founder and CEO of PortLiving. “We are extremely excited by Shigeru Ban’s decision to bring his craft to the Pacific Northwest, where we expect he will be embraced for his environmentally-sustainable approach, creative integration of outdoor living, and his leadership in innovation.”

Terrace House Development

Terrace House Development
Terrace House Development

Wood structural engineer Hermann Blumer, a long time collaborator of Ban, is also involved in the project. ‘every detail has been considered right down to the specific foliage on the terraces,’ says Macario Reyes, Founder and CEO of Portliving. ‘it only made sense to bring on Cornelia Oberlander to continue her vision and create continuity between the evergreen building by Arthur Erickson and terrace house by Shigeru Ban.’

The first 12 floors of Terrace House will be constructed of concrete and steel, expressed as an architectural finish to Erickson’s iconic work. Cornelia Hahn Oberlander, the original landscape architect for the Evergreen Building, will help ensure harmony between the two buildings. The upper portion of Terrace House will be a distinct, triangular, glass-clad mass timber structure utilizing local timber.

Terrace House Development by PortLiving
Terrace House Development

The project consists of a number of 2 bedroom units and three bedroom suites on the lower floors, as you ascend the tower there are only 2 suites per floor and higher up – single floor units crowned with the top 4 level penthouse.  The project is fifty per cent sold with the majority of the two bedrooms taken. There are still a number of full floor opportunities s along with three bedroom units.

The ground floor will have a public space with likely an Art gallery or  Japanese restaurant. The main residents’ entrance will be on the north side and include  full-service amenities: concierge, gym , yoga room, spa and event centre.

Development Highlights

  • Designed by 2014 Pritzker Prize laureate, Shigeru Ban, Terrace House will be the tallest mixed-use hybrid timber/concrete structure in the world.  Terrace House is Shigeru Ban’s tallest residential structure to date and his first project in Canada.
  • A collection of urban homes that are uncompromisingly spacious offering Miele appliances, select Shigeru Ban-designed hardware, custom millwork, the highest average ceiling heights in Vancouver, sustainability features throughout, and the latest in technology ensuring the utmost in comfort, livability and security.
  • Owners will enjoy a seamless indoor/outdoor experience through living spaces that flow onto expansive terraces, complementing a range of beautiful views across the city, harbour, and beyond.
  • Nestled within the secluded enclave of Coal Harbour, owners within Terrace House will enjoy convenient access to the best the city has to offer from the outdoors to shopping, to arts and global gastronomy.
  • A leading concierge service with boutique amenities will ensure an unparalleled lifestyle.

 

Developer: PortLiving
Design architect: Shigeru Ban Architects
Local architect: Francl Architects
Structural engineer: Read Jones Christofferson
Timber design engineer: Création Holz
Timber consultant: Equilibrium Consulting
Landscape architect: Cornelia Oberlander
Landscape architect: Enns Gauthier
Facade consultant: Front
Fire engineers and certified professional: GHL Consultants

Terrace House Development Pricing

The typical home price will range from approximately $2000 -$2500 per square foot. Sales for available units range from $3,300,000 to over $10,000,000.      For private purchase appointments please contact me at 604 612 6392

ALBERNI by Kengo Kuma

ALBERNI by Kengo Kuma.

A uniquely shaped residential tower at 1550 Alberni designed by Kengo Kuma, a renowned Japanese architect, will be a new landmark in Vancouver when completed in 2021. Unlike any other classic Japanese shaped residential tower, this masterpiece is a world-class modern building with a visionary conception and intricate design details. The design was inspired by nature and shaped by the environment while respecting the Japanese spatial traditions. In particular the emphasis was set on the atmosphere rather than the object in order to create a serene visceral experience. The urban strategy aims to improve the city and its relation to nature. Developed by Westbank & Peterson Group this tower in Downtown’s Coal Harbour will visibly excite people from around the world.

1550 Alberni

Inspired by the environment, the organic shape of this challenging 43-storey tower was designed with special curved concrete in combination with diagonally symmetrical deductions to counterbalance the hanging volume above. The façade will be finished with a curtain wall clad in anodised aluminium. Architecturally, it creates a reflection effect of the sky, natural light and other buildings, a facade that disappears and reappears like clouds.

Two remarkable scoops carve the tower to form deep balconies furnished in wood. The recessed form of the building respects and optimizes neighbouring views. A concept of ‘carved deductions’ not only optimizes the views but also strengthens the relationship to the street, to its urban and geographic context. All 188 residents will have the feeling of being close to the ground and nature. While the story that lies behind these deductions is that it creates a symbolic entryway to the building and to downtown Vancouver with views along the street.

Coal Harbour Sub Penthouse

Kuma’s inspiration by nature is clearly reflected by the ground floor of the building, a Japanese moss garden under arching structures surrounding an amphitheatre shaped form. This ground level green space defines the entrance of the building and is a public amenity that connects nature with street-life. It can be used for various activities such as concerts, small parties or to enjoy a pause in the middle of the city.

Pool

Above this amphitheatre awaits a swimming pool: a strikingly layered wood standalone wall resembling the childhood game of pick-up sticks inside the concave space’s pool area will be landscaped with a Japanese moss garden.

Curved base

Kengo Kuma is an architect who values traditional Japanese wooden constructions and craftsmanship with a modern twist. His ample use of wood creates intimacy and warmth responds to the abundance of nature in Vancouver being close to Stanley Park. In fact wood disappeared from the city in the 20th century so Kuma wanted to revive the feeling of living with wood and the warmth of wood. However the tower rises at 135 meters (436 ft.), the ground level wooden timber constructions should give people a sense of craftsmanship. As such, it is a major emblematic element in Kengo Kuma’s architectural design and it is also frequently used in his previous works.
The mixed-use development features a wine tasting room, art gallery, music room, double-storey fitness centre, retail space and a unique Waketokuyama Japanese Restaurant. For the first time this restaurant will be based outside Japan. The Tokyo restaurant has two Michelin stars and is considered to be one of the best Kaiseiki restaurants in Japan. Furthermore this elegant project features six levels of underground parking resulting in 271 vehicles spots, 49 electric vehicle charging stations and 248 bicycle stalls .

Kengo Kuma Architects and Associates also took care of the interior design for the luxurious residential units in this building. All the units are finished using natural materials, craftsmanship and thoughtful detail such as the organic shape in the units, floor-to-ceiling glazing and open patios. The penthouse unit will have a terrace and swimming pool with magnificent views of English Bay. Some units will feature a Japanese soaking tub on the balcony, also known as a Furo used in a Japanese tea ceremony. By bringing together the Eastern and Western culture this unique project is a sort of cultural exchange. The city itself is multicultural so the details and materials coming from Japan and Asia are chosen carefully to match this cultural exchange. Using materials from other cultures can stimulate the city. 1150 Alberni is an overall experience defined by interwoven layers of textures and themes. The project clearly is prime contemporary real estate with a tribute to the Japanese culture.

Pricing

The typical home price will be approximately $2000 per square foot. Sales for available units range in price from $1,158,900 to over $19,989,900. The development has a total of 188 units. Private purchase appointments will be scheduled beginning early March at the “Teahouse by Kengo Kuma” sales centre. For further interest please contact me at 604 612 6392

How to Compete in Vancouver’s Multiple Offer Market

How do you compete in Vancouver’s Multiple Offer Market when buying a property.  Over the past six months we have seen a number of multiple offers, particularly for highly desirable properties in good locations.  Inventory is still very low and good properties at fair market value will typically bring multiple offers. You could be competing against 4-5 other buyers, and the situation can be stressful.

In general, the highest bid is likely to win, but not always. The reality is that when there are multiple offers, it is common that a few of them are very similar on offer price.

The best method of standing out in a multiple offer situation is by presenting yourself as the buyer the seller would like to do business with. Your real estate agent will present you and your offer in the best fashion possible to make you the buyer of choice.

Here are some ways that multiple offer situations are won.

How to Compete in Vancouver's Multiple Offer Market

Confidence in buyers’ ability to close

A really high offer is no good if the seller is worried about the buyer’s ability to actually close the deal. Apart from your offer price, a seller and their agent will look at factors like the size of your down payment, size of your deposit, closing date and motivations for moving. A buyer with a large down payment and a quick close that is clearly not dependent on the sale of another property will usually win, even if there is a bit more money on another offer.

Is your Realtor easy to work with?

Everyone wants a real estate agent who is working diligently for their buyer, working relentlessly for your best interests. In a bidding war, the line between persistence and bullying is a thin one, and you want an agent who is a “professional” and is easy to work with. The winning agent is typically a strong communicator who is persistent and attentive to detail. Listen to the seller’s needs and craft an offer that meets those needs.

Have Inspections done ahead of offer

Get your inspections done ahead of time. If a home sale is going to fail, it is probably because of the inspection results. An offer that has pre-inspected the home and waived the inspection contingency has a better chance of success because it’s removed a huge uncertainty. This is a costly strategy, as you need to spend at least $400-$500 on an inspection for a home you may not get, but it can pay off if the house is right.

Write a letter of Introduction

Sellers often have huge emotional ties to a home, especially if they have been there for a long time and raised a family there. Put a face behind your offer with photos and a personal letter telling why you love the house. You never know what little personal detail can make them feel better about you as a buyer.

Multiple offer situations

Being the Buyer of Choice

Skip the escalation clause and just make your highest and best offer; buyers sometimes use escalation clauses, it allows you to raise your bid in increments to beat the next best offer, without having to potentially overpay. However, stacked against a straight-up offer for a similar price, the offer with an escalation clause almost always loses. If you have one offer for $500 k against another offer that starts at $490 k and escalates to $500 k, the net result to the seller is the same. Sellers almost always pick the offer without the escalation because that buyer shows they “want it more.”

Other Tips on How to Compete in Vancouver’s Multiple Offer Market

1) Submit your offer with a current pre-approval letter, including the mortgage brokers contact information.

2) Place a deposit with the agent’s brokerage before to submitting the offer; proof of the deposit should be presented with the offer.

3) “As-is” with right to inspect offers will usually get more attention from the seller.

4) Submit proof of funds to close with your offer. Cash and financed offers require funds for closing – remove all doubt about your offer.

Don’t get wrapped up in the competition and set your own limits on what you are willing to pay for a home. There will always be other homes to buy. At the same time, focus on the big picture. If the home is right for you and your needs, step up and take the extra steps to try to get it. An experienced agent who has been in these competitive situations is an invaluable resource to coach you through the process and maximize your chance of success.

http://www.petercoppard.com/marketing

 

How Days On Market Affect Home Sales

Why Days On Market Matters

How Days On Market (DOM) Affect Home Sales

Days On Market can affect the home sale and indicate an incorrect List Price at the outset. While we are seeing many properties sell in days at, or above asking, there are as many properties that do not sell.  Home owners are advised to think carefully when evaluating their Listing Price.

 

Set The Right List Price 

Although it can be tempting to “test the market” by setting a high asking price, it is not the most effective strategy, especially in a hot market like Vancouver. Potential buyers are far more likely to shop for homes that are priced reasonably in relation to the “comps,” homes of similar size, age and amenities in the same or a similar neighbourhood.

Don’t forget that most sales begin online; potential buyers can, with a simple click, navigate away from a specific listing in favour of another that has a more realistic price, more appealing photographs or a more complete description. You want to generate showings in order to prompt offers.

Statistics reflect an increase in sales prices over the last several months, but you have to also consider “Sold” numbers for the past year in relation to “Days on Market” to determine your initial listing price. Additional information to have in your arsenal is the relationship between listing price and selling price, and complete details on current listings.

Setting a listing price is not an exact science, but by arming yourself with the facts, you can make an informed decision and increase your odds for a timely sale.

How Days On Market Affect the Home Sale.

Some Results of Over – Pricing 

Here are just six of the disappointments you’ll find with an overpriced house:

  • A buyers’ response to your listing will probably be slow, since they most likely recognize overpricing. Remember, people buy by comparing like homes, and if they are working with a buyer’s agent, the agent is giving them recent statistics.
  • Buyers who are interested may be the wrong ones because they’re looking for a home priced the same as yours – but with MORE features.   You’ll be missing the buyers who could and/or would buy your house.
  • Your overpriced home will help buyers make a decision on other homes that are priced fairly. You’ll be the homeowner that sells your neighbour’s home.
  • Very few buyers will even make an offer on an overpriced home. Even in a seller’s market like we see today [low inventory with healthy demand] buyer’s are sensitive to over paying.
  • After your house has been on the market for several months, buyers will notice the number of days on market and may assume there is something wrong with your house.  After a house becomes “stale” in the psychology of buyers’ thinking, the seller will most likely end up lowering the price to a point less than they could have gotten if they’d priced the home correctly when first listed.  This is called chasing the market down.
  • If you do find a buyer at your price, the appraisal still has to work; the house has to appraise for the contracted price, or the mortgage lender will not lend the money to the buyer. The contract will have to be re-negotiated to make the deal work.
  • What can you do to solve the pricing issue?  Work with an experienced real estate agent who knows the market in your neighbourhood.  Your agent will provide you with a valuable CMA based on what similar homes have sold for in the recent 3 to 6 months, depending on the dynamics in your market. Take advantage of the research and advice your real estate agent can offer, and you’ll be sure to avoid the pitfalls of an overpriced home.

Days On Market (DOM)

Days on Market is a common statistic found on the Multiple Listing Systems (MLS) and basically tracks how long a home has actually been on the market for sale. Many MLS also keep track of Cumulative Days On Market (CDOM) which is the total days on market a home has been up for sale, that time includes the time on the market with a different agent also in the case where the home was temporarily withdrawn and then put back on the market for whatever reason. Depending on local MLS rules the CDOM number can reset back to zero if the home has been off of the market for 30 days or some other passage of time set by the local MLS Board.

Why Days On Market Matter

The number of Days On Market can affect the sale of your home. DOM provide sellers, buyers and real estate agents an idea of how well a home is being received while it is available for sale. Many issues can affect how long a home sits on the market and therefore the DOM number provides a good measure of how the home is being received.

Ideally the time for a home to get an offer is within the first 30-60 days of being on the market. If the home is on the market for longer than 60 days with no offers the seller and the real estate agent should be revisiting a number of things in order to determine why no offer has come in. The longer a home sits on the market without an offer causes buyers to question if there is something wrong with the home that is causing it not to sell and as a result some buyers may not even consider a home with a longer than normal time on market. This negative perception from buyers can force the sellers to reduce price much faster and steeper than if the marketing and pricing were done properly during the first 30-60 days of the home listing.

Why Days On Market Matters
real estate pricing pyramid

Cumulative Days On Market Affect Home Sales.

The CDOM term is mentioned above because sometimes real estate agents may try and game the system by cancelling a listing and then creating a brand new listing a few days later in order to reset the DOM count. While the DOM count is reset upon re-listing an MLS which keeps track of CDOM will not fool anyone since the CDOM number will be reported right alongside the DOM number. If an agent suggests to you that cancelling and re-listing will make it look like your home is new on the market you should begin to question further the agents strategies for getting your home sold.

Now if the home has been pulled off of the market due to some legitimate reason like having to address some emergency repair that pops up while the home is on sale the CDOM is also not reset. There may be perception problems as well with that situation but any experienced agent will know how to get ahead of this problem by properly communicating the fact that the home needed some repair and now is back on the market and even may be better than before with the repairs.

Other Reasons Homes Have Long Days On Market

Another reason why a home may be on the market longer than 60 days is poor marketing. Listing your home on a couple of real estate websites is not enough. You should look at the quality of the photographs for your home, how is your home staged, have you de-cluttered and depersonalized. Marketing is more than just getting the word out there that you have a home for sale.

The amount of time a home spends on the market is looked at by buyers and real estate agents and may even be used as a reason not to consider a home. By pricing your home right and marketing it properly you should expect to have plenty of buyers and an offer in hand within the first 30-60 days of being on the market. If your home has not sold and is starting to spend too much time on the market it may be time to step back and reevaluate your home price and marketing plan.

Why Days On Market Matters How Days On Market Affect the Home Sale.
Why Days On Market Matters

http://www.petercoppard.com/marketing

 

 

Heritage Lofts in Gastown, Crosstown & Yaletown

Heritage Loft Conversion in Yaletown

Gastown is a well-loved centre of activity in the downtown core with over a century of history that goes back to the early days of settlement in Vancouver. The city’s oldest neighbourhood shows remarkably preserved evidence of the essence and inception of Vancouver’s prolific urban revolution.

Bordering the train tracks that established this area and beyond, the magnificent Burrard Inlet and mountain-scape, Gastown is a unique residential and retail area spanning a handful of blocks East to Main and West to magnificent Canada Place into the new eye-catching architecture that pulls you into the modern world. Find a hub of unique eateries and dining experiences from pubs to elite lounges as well as street side food trucks and seaside restaurants with expansive mountain and ocean views.

Water Street in Gastown
Water Street in Gastown

Close to everything and within walking distance of most of downtown, feel the pulse of the city right outside your door. Partake in the bustling evening energy as Gastown fills up for fun, lively entertainment and stylish dance clubs.

Gastown at dusk
Gastown at dusk

Inhale the fresh sea air and hear the melodic sounds of seagulls from your windows, while all your needs are met in a fashionable way just by walking down the street. Cozy but elegant floor plans allow for breathtaking views reverberating the heightened energy of the city.

Here, heritage loft conversions feature some of the most unique architectural elements of downtown living.  Clustered primarily along Water Street, Powell Street and Alexander Street in Gastown, Beatty Street in Crosstown, and Mainland and Hamilton Streets in Yaletown.

Lofts often include refurbished detailed brick facades, wood casement windows, carved sandstone capitols, original maple hardwood floors, exposed brick and concrete, high 8’9″ and 11′ ceiling heights, honed granite and stone counters,  all these items make up one of my personal favourite real estate products.  But you don’t have to occupy to benefit from these fabulous living spaces & neighbourhoods.

Beatty Street in Crosstown
Beatty Street in Crosstown

Lofts provide a sound investment for discerning investors with the potential to readily achieve positive cash flow with superior rental income and asset appreciation.  Buyers have to be very sharp to capture the most attractive listings as many of the desirable units sell in a matter of days and more often than not – over the asking price.

Yaletown
Yaletown Heritage lofts

Typical rental rates are < $3 per square foot with a slight premium for furnished suites, parking, communal amenities or some utilities. Buying costs can run anywhere in the region of $625 per sf to around $800 per sf.  After factoring in your purchase price, strata fees, insurance, property taxes & a few minor maintenance repairs – there are still opportunities to generate positive cash flow – especially with a larger down payment to reduce mortgage costs. Many of the heritage conversions were completed in the last 10-12 years and are managed well by progressive strata companies.

Recent Sales:

1) Loft on Powell Street sold in October for $26,000 over asking after just 8 days on the market.

Powell Street loft just sold
Powell Street loft just sold

2) Beatty Street loft sold in September after one day on the market $7,100 over asking.

Beatty Street loft just sold
Beatty Street loft just sold

Recent Leases;

1) Beatty Loft leased in October at approximately $3.25 per square foot includes furniture with no parking and no utilities.

Beaaty Loft just Leased
Beatty Loft just Leased

2) Gastown loft leased this week at just below $3.00 per square foot – no parking or utilities.

Water street loft leased this week
Water street loft leased this week

 

 

 

 

 

 

 

 

 

 

 

If you are interested in learning more about current loft listings in Gastown, Crosstown or Yaletown – either for living or investment – give me call at 604 612 6392