False Creek: live a sustainable lifestyle in a new home located in an emerging Vancouver neighbourhood. Cressey’s latest development, James, offers all of the above to new homebuyers. ›› p.4
July 1, 2010
Banks drop fixed mortgage rates Late last week, two of Canada’s big banks dropped some of their posted mortgage rates. Other banks across the country quickly followed suit to match the average onetenth of a percentage point (0.10) cut announced by Royal Bank of Canada and TD Canada Trust last Thursday. The drop affects only fixed-mortgage rates and went into effect last Friday at RBC and TD. The next day, CIBC and National Bank announced separately that their five-year closed mortgage rate would fall to 5.89 per cent, the same level as RBC and TD. Changes took effect Saturday at CIBC and on Monday for National. The changes cut 0.10 percentage points from existing rates across multiple terms. RBC, TD and CIBC Cameron Muir also lowered the rate on six-month convertible mortgages by one-tenth of a percentage point; the rate offered by RBC and CIBC falls to 4.85 per cent and TD’s falls to 4.75 per cent. British Columbia Real Estate Association chief economist Cameron Muir notes that Canadian banks raise or lower fixed-term mortgage rates in response to changes in their borrowing costs in the bond markets. “Mortgage rates key off of the bond market,” Muir says, and notes European debt issues are likely having an effect on the bond market. “Bond yields have gone down and as a result, we have seen some downward pressure on rates.” Prime rates last changed on June 1, rising by one-quarter of a point after the Bank of Canada increased its key rate from a historical, all-time low. CONTINUED ON P.2
Randy and Georgina Kruzeniski enjoy the master bedroom suite in their South Surrey home. The master suite was one of the reasons they chose to purchase the new Raicon home. Rob Newell photo
Heavenly havens at home Master bedroom suites are becoming spa-like sanctuaries MAGGIE CALLOWAY You have spent years bringing up a family and the master bedroom has slowly turned into a depository of odds and ends. The weekly ironing, done at night while watching a talk show, turned the ironing board into a
permanent bedroom fixture. But not anymore. The kids have moved on, or at the very least are at an age where parents need not be available 24/7, and it’s time to think about the master bedroom, and how to create a space just for yourself or for you and your partner. A bedroom is the most personal space in the house, seldom seen by guests, so homeowners should express themselves here
without consideration to anything other than sensual comfort. The master suite is not the place to express a wild colour side: this is a place where, at the end of the day, homeowners go to wind down, to relax and to sleep, so decorating for pleasure and luxury – no matter what size the master bedroom – is key. Metro Vancouver developers know how CONTINUED ON P.2
2 • New Local Home | July 1, 2010
Randy and Georgina Kruzeniski enjoy several aspects of their master suite, including the vaulted ceiling and two-way fireplace (at left) and the dual vanities (below). Rob Newell photos
“A very special place to
my wife and me” Off the front: “If
A ‘positive impact on affordability’ CONTINUED FROM P.1
“Certainly, downward pressure on rates bodes well for the housing market this summer ... it’s a positive impact on affordability,” Muir says. While the decrease is small, it is still good news, says Greater Vancouver Home Builders’ Association president and CEO Peter Simpson. “Anything that enhances affordability is welcomed by the homebuilding industry,” he says. “It’s not a big drop, but it’s a step in the right direction. InterPeter Simpson est rate drops help everybody. They keep the housing market active, and an active housing market creates jobs.” Although any drop is good news, Muir calls the decrease in rates a likely “short-term reprieve.” Rates are expected to edge higher over the next 18 months, Muir says.
Correction In the New Local Home June 24 edition, an error was printed in a headline on page 6. WestStone Properties’ Ultra does not feature a rooftop garden. The headline should have read Affordable homes in the heart of Surrey. New Local Home staff apologize for the mistake with deepest regrets.
we want to have a romantic getaway, we have it right here at home.” – Georgina Kruzeniski CONTINUED FROM P.1
important a master bedroom is to potential clients. ParkLane Homes marketing manager Yosh Kasahara notes that some of ParkLane’s Bedford Landing homes in Fort Langley offer opulent master bedroom design features, including open-concept bedrooms and ensuites separated by a two-sided fireplace, vaulted ceilings, dual vanities and double French doors that open onto a generous balcony, which, Kasahara adds, “is very romantic for the couple.” “We find our buyers appreciate these details, which have a huge impact on their daily routines,” Kasahara says. A terrific local couple, Randy and Georgina Kruzeniski, specifically bought their new home in South Surrey’s Morgan Heights to provided them with a master suite they can close off from the rest of the house. Two sons have left home and one daughter is still around, but no longer needs ’round the clock attention. “I tell Randy if we want to have a romantic getaway, we have it right here at home,” Georgina says. “No need to push through rush hour traffic to have a quick break ... we have it right here.” Randy, who happens to be blind, offers a different perspective, and talks about how having tactile fabrics and carpets, is important. “Floor coverings are important. For
A High Point home, left, features vaulted ceilings. Top right, a Sonoma Homes master suite has a private balcony, while (bottom right) an Enclave suite has built-in closet millwork.
instance, in our master suite, I know from the different coverings, carpet, rugs and tile, where I am,” Randy says. “Bed linens are important as well – a sighted person may be stimulated by the look, but I am stimulated by the feel.” Georgina notes the European sheets she just bought are a high thread count and super soft and luxurious. When looking for their new home, Georgina says the two-way fireplace in the master suite was what captured their interest. “We were reminded of a stay we had at a
Sweet SUITES
luxurious resort and realized we could have this everyday,” she says. With a window seat, oversized windows and a view of B.C.’s beautiful coastal mountains, the Kruzeniskis’ master bedroom also features crown mouldings, deep baseboards and deep, plush carpeting. The walk-in closet has built-in shelves, the fireplace has a seating area, and the spa bathroom has dual vanities, granite countertops, a large soaker tub and a large shower with a rain head shower nozzle. “All together, the master suite is a very speCONTINUED ON P.3
Publisher: Fiona Harris • 604-575-5822 • publisher@newlocalhome.com Editor: Tricia Leslie • 604-575-5346 • editor@newlocalhome.com Reporter: Maggie Calloway • maggiec@blackpress.ca Advertising Sales: Black Press National Sales • Adrian Saunders • 604-575-5812 • adrians@blackpress.ca Online Advertising: 604-575-5822 Designer: Brad Smith • bsmith@blackpress.ca New Local Home is published once a week by Black Press Group Ltd. (Suite 309 - 5460 152 Street, Surrey, B.C. V3S 5J9) 350,000 copies are distributed free across Metro Vancouver. Reproduction in whole or part is prohibited.
New Local Home | July 1, 2010 • 3
‘Closets are not just closets anymore’ CONTINUED FROM P.2
cial place to my wife and me,� Randy says. Local interior designer Sarah Gallop is another believer in taking great care when designing this special part of the home. “Bedroom suites tend to be getting a bit larger and more thought-through. They are being looked at as retreats, not just bedrooms,� Gallop says, speaking of larger homes. Condos, apartment homes and townhomes still feature master suites as comfortable refuges, and even if they aren’t as large as some single-family home suites, some design features help maximize the space they do have, such as built-in millwork in the closets. “Closets are not just closets anymore,� Gallop says. “They are more evolved – with custom millwork – and are specifically designed for the needs of the clients, with built-in areas for shoes and scarves, hats, etc. rather than shelfand-rail systems.� Where space allows, ensuites can be massive, with huge walkin showers with multiple body sprays, rain shower heads and customized niches. Free-standing tubs are big in today’s master ensuite bathrooms, as well as custom linen closets. Double vanities or even oversized vanities are in demand, Gallop says. “Another thing that is becoming very common is water closets. It is a great idea to have the toilet separate from the main bathroom,�
Sweet SUITES
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she notes. She has noticed that local couples are actively investing in their master suites. Some couples remember a hotel or spa where they once stayed, and ask Gallop to re-create that feel in their master bedroom and ensuite. “I think they feel they have done so much for the kids over the years and now, they need a spot for themselves. They need a place to
relax and wind down and enjoy their private time together,� she says. Some key ‘musts’ to a successful master suite are keeping it simple and uncluttered, and keeping it work-free. There is nothing relaxing about every square inch filled with stuff, or doing work from the office, or paying the bills late at night. Just close the door(s) and escape ... to the master bedroom.
A Bedford Landing master suite, left, features an open feel, while suites at Carrington (top) and Cardinal Pointe (above) come with built-in closet millwork.
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4 • New Local Home | July 1, 2010
‘Green and gorgeous’
James offers unique False Creek lifestyle Grabbing a steaming coffee from a nearby café, it is natural to head outside to enjoy the beautiful summer morning, cup in hand. A breeze is blowing, the sun is shining on False Creek, bedazzling the waters with brilliant glints, and fluffy white clouds dot the blue sky alongside the occasional soaring seagull. The hardest decision to make is whether to stroll the hectares of landscaped walking paths, or whether to enjoy the parks, the tree-lined streets or the world-famous Vancouver seawall; all are accessible from a neighbourhood that is emerging as one of Canada’s leading sustainable communities. At Cressey’s latest development, James, homebuyers can live an ecofriendly lifestyle at affordable prices. Comprised of concrete, glass and steel, James will feature 155 new residences in a 13-storey tower and a separate building that will feature penthouse flats; homebuyers have 25 different floorplans to choose from. Located in the heart of southeast False Creek, Cressey notes that James – which is adjacent to the Olympic Athletes Village – is priced at “an
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CONTINUED ON P.5
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Cressey’s James, in Vancouver’s southeast False Creek, offers its residents UP Lounge, an outdoor rooftop living space for all homeowners to enjoy.
Amenities at the doorstep
Live in a sustainable community CONTINUED FROM P.4
average of 40 per cent less than the nearby ‘legacy’ development Millennium Water.” “The neighbourhood is amazing ... it is one of the most leading and pre-eminent neighbourhoods in all of North America,” says Cressey Development Group development manager David Evans. “The proximity is great. You’re close to almost anyone and anything,” he adds, and notes that James is just steps to Cambie Village and the seawall, and is also close to the Canada Line SkyTrain station. Yaletown, Granville Island and downtown Vancouver are just a short SeaBus ride away. Residents of the southeast False Creek neighbourhood will enjoy a new community centre designed by iconic Vancouver architect Arthur Erickson; future commercial retailers include Urban Fare and London Drugs. The entire southeast False Creek community is Vancouver’s first comprehensive sustainable neighbourhood, and as such, the entire James development is built to LEED silver standards. As well, there will be co-op cars, charging stations for electric vehicles and scooters. All building materials are low-impact, sourced from regional suppliers and recycled materials, and inside, James residences feature lowVOC paints, sealants and adhesives and Energy Star appliances. “James is green and it’s gorgeous,” says Cressey vice-president of development and acquisitions Hani Lammam. CONTINUED ON P.6
New Local Home | July 1, 2010 • 5
‘The proximity is great. You’re close to almost anyone and anything,” says Cressey Development Group development manager David Evans, when speaking of James. Located in southeast False Creek in Vancouver, Cressey’s James offers a wide range of floorplans to potential homebuyers, as well as a fantastic location and a sustainable community. All of James’ residents will have access to a large, rooftop outdoor living space, which includes community garden plots and UP Lounge. There will also be co-op cars, charging stations for electric vehicles, and scooters.
6 • New Local Home | July 1, 2010
Join a world-class community
Balconies in every home CONTINUED FROM P.5
On top of the tower component, there will be the UP Lounge and a rooftop outdoor living space for all James residents. The 5,000-square-foot space will include a secure children’s play area, a fully equipped outdoor kitchen, communal garden plots, and a glass-covered observatory equipped with an indoor kitchen, a games area, a private bar and a big-screen TV. Other amenities include a fitness facility, steam room, sauna, a yoga studio and full concierge service. Full air conditioning is provided throughout James, Evans says, and every James homeowner has the opportunity to enjoy the outdoors year-round. “There are balconies in every home ... many come with very large outdoor spaces,” says Evans. James homes are designed to maximize natural light, and come with beautifully designed interiors; homebuyers can choose a ‘Saturday Night’ or ‘Sunday Morning’ colour scheme. Construction on James is expected to start within weeks; homes will be move-in ready by the summer of 2012. “I think it offers people the chance to be a part of this new, emerging, world-class community,” Evans says. Homes start from $379,900. Visit www.jamesliving.com for more details.
All James homes have balconies, so homeowners can enjoy the beautiful B.C. outdoors year-round.
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New Local Home | July 1, 2010 • 7
< Skye-Soleil-Aqua Presentation Centre, Unit 3, 1233 Main St., Squamish. 604-616-1215 = Furry Creek-Ocean Crest 415- Furry Creek Dr. 604-787-1456
North Vancouver
Port Coquitlam
< Wedgewood 768 Orwell St. 604-980-2508
< Pearl 2343 Atkins Ave. 604-308-0227
Vancouver
Richmond
< Sage 5898 Gray Ave., (UBC/Wesbrook) 604-822-0809 = Pacific Spirit UBC Westbrook Village. 604-221-8878 604-264-6477 ! District: South Main 299 East 7th Ave., Vancouver. 604-879-2010
< Alexandra Gate Cambie-Garden City. 604-279-8866 = Centro 7180 No.3 Road-Bennett. 604-270-8305 > Remy 106- 9780 Cambie Rd. 604-274-7326 ? Hamilton Station 22788 Westminster Hwy. 604-279-8866 @ Wishing Tree Alexander Gardens. 604-871-4296 A Cambridge Park 9191 Odlin Rd. 778-297-7511 C Saffron 180-8360 Granville Ave. 604-270-2482
< Falcon Hill 23719 Kanaka Way. 604-466-5723 = Stoneleigh at Silver Ridge 13851 232 Street. 604-466-9278 > Solo 11749 223rd Street. 604-467-0800
New Westminster < Victoria Hill McBride Ave. 604-523-0733 = Q at Westminster Quay Renaissance Square off Quayside Drive. 604-515-9112 > Port Royal Holy Ave. and Salter St. 604-520-9890
Delta < Trend 7445 Scott Road. 604-590-5483
South Surrey-White Rock
Langley
< Levo 1170 Pinetree Way & Northern Ave. 604-464-5856 = The Foothills Burke Mountain, 3381 David Ave. 604-944-3188 > Tatton 1240 Holtby, Coquitlam. 604-552-2220
< Highland Park 160th & 24th Ave. 604-542-8995 = Glenmore at Morgan Heights 161A St. & 24th Ave. 604-542-8863 > Wills Creek 160th & 32nd Ave. 604-542-6200
< Bedford Landing 23015 Billy Brown Road. 604-888-2176 = Seasons & Prelude at Milner Heights 208th St & 72nd Ave. 604-539-9484 > Time at Walnut Grove 9525-204 Street. 604-694-1819
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< Augusta Walk / Woods at Provinceton 18199 70th Ave, 778-571-1088 = Springfield Village 8676 158 Street. 604-591-1121 > Hazelwood Estates 7881 164A Street. 604-657-5220 ? The Estates at Vistas West 16327 60th Ave. 778-574-1380 @ Vista’s West 6058 - 163 Street, Surrey. 778-571-1389 A Knoll 7348 192A Street, Surrey. 604-574-0001
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? Whitetail Lane 1357 Purcell Drive. 604-552-3003 @ Belmont 1456 Avondale Street. 604-461-7113 A Burke Mountain Heights 3398 Don Moore Drive, Coquitlam. 778-285-6299 B Sterling 3412 Wilkie Avenue, Coquitlam. C Larkin House 1131 Pipeline Road Coquitlam. 604-552-1113
8 • New Local Home | July 1, 2010
By the time they ask “Are we there yet?” … you will be. A mere 90-minute drive from downtown Vancouver brings you to The Cottages.
It feels like a world apart. Steps from peaceful and pristine Cultus Lake, surrounded by breathtaking mountains and lush green forests, with the great outdoors right at your doorstep. But this isn’t your grandfather’s rustic idea of a cottage – these luxurious family cottages are styled your way, with all the features and finishes you could hope for and large private porches and decks providing plenty of space for family and friends to gather and enjoy BC living at its best. And as if that wasn’t enough, the 10,000 sq. ft. clubhouse with pools offering all the amenities of a first-class resort. Single Family Cottages from
$399,900 Phase 1 and 2 SOLD OUT! Priority register now for Phase 3.
1.877.888.4950 CultusLakeCottages.com Discovery Centre & Display Cottages Open daily from 12 noon to 5pm except Wednesday 1777 Columbia Valley Rd. Lindell Beach, BC
Copyright 2010 © | Higherground Project Marketing Inc. Brokerage and Sales by Multiple Reality Ltd. Prices are subject to change without prior notice.