Vancouver New Home + Condo Guide – October 14, 2023

The first and only complete guide to pre-construction homes and condos

INSIDE :

UNDERSTANDING HOUSING MARKET SHIFTS

GENERATE EXTRA INCOME THROUGH HOMEOWNERSHIP

Metro Vancouver

NOW SELLING

Life i n Balance

Introducing The North, a limited release of 67 exclusive residences defined by bold architecture, spacious interiors and the convenienc e of central Port Haney living. Life at The North means mountain views, river walks, retail amenities and transit access, all steps from home.

Price d for first-time buyers, the North combines thoughtful, pragmatic design w ith residence s on the cusp of nature.

The North. Delivering Life in Balance to Maple Ridge.

MEDIA CONSULTANTS

Dave Bird 604.319.7102 dave.bird@nexthome.ca

Ricardo Hernandez 604.319.7103 ricardo.hernandez@nexthome.ca

EDITORIAL DIRECTOR

Amanda Pereira

EDITOR

Marlene Eisner

CONTRIBUTING WRITERS

Susan M Boyce, Michelle Hopkins

EXECUTIVE MEDIA CONSULTANT

Jacky Hill

SALES & MARKETING COORDINATOR

Gary Chilvers

DISTRIBUTION distributionteam@nexthome.ca

ACCOUNTING INQUIRIES accountingteam@nexthome.ca

DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony

GRAPHIC DESIGNERS

Yvonne Poon, Mike Terentiev

Published by nexthome.ca

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WHEN IS THE RIGHT TIME

TO BUY A HOME?

They say timing is everything, and that rings especially true when you are thinking of buying a home. There are so many factors that need to come together before making such a big decision. From the neighbourhood you wish to live in and its proximity to public transit and major roadways, to the housing type and the all-important financing, each piece should fit neatly together to complete your home-hunting picture.

However, even if you’ve earmarked a neighbourhood and found a project that suits your budget and lifestyle, how do you know when is the right time to buy? With the housing market seemingly shifting from one week to the next, it can be confusing to understand it all. If you’re looking for some clarification, turn to page 28, where Brittany Reimer explains why it is important to understand and look at market cycles to make a well-informed decision.

And, for those of you who already own your home and are looking for ways to lower your costs with added income, our mortgage expert, Alisa Aragon-Lloyd, lists nine ways you can use your home to make extra money. Turn to page 14 and see if any of them will work for you

MARLENE EISNER

EDITOR

EMAIL: marlene.eisner@nexthome.ca

TWITTER: @MarleneEisner

As always, this issue has other interesting and informative articles to help you on your home-finding journey, from new releases and upcoming projects to inspiring ideas on how to decorate your new space, including your bedroom for a comfortable night’s sleep.

Let us know what you think. We’d love to hear from you.

49 WEST COAST GARDEN STYLE TOWNHOMES

MODERN BOTANICAL LIVING

In West Coquitlam lies The Grove, a collection of 49 townhomes where city and nature intertwine. Custom designed, each home merges West Coast modern architectural ideologies with spacious interiors that draw inspiration from single-family living. Here, underground parking creates space for lush outdoor courtyards, which harmonize with soft, natural interior textures to bring a renewed sense of clarity to everyday rituals.

604.757.7288

VANCOUVER – DOWNTOWN VANCOUVER

1. CLARIDGE HOUSE 498 West 41st Avenue 604-941-8305 polyhomes.com

2. GRYPHON HOUSE 6191 West Boulevard 604.620.8295 gryphonhousevancouver.com

3. WEST WIND 2620 Acadia Road 604-260-8446

5. AMBER 604-871-8600 aragon.ca/amber

6. THESIS W 49 Ave & Cambie St liveatthesis.com

7. SHIFT 35th Ave & Quebec St. aragon.ca/shift

8. THE CONSERVATORY

11. FORM 1558 West 6th Ave formbyanthem.com

12 PARK 1698 West Georgia Street anthemproperties.com

13. GRYPHON NOVA Oak & 67th 604-620-8295 gryphonnova.com

14. ITALIA

It’s a western reflection of eastern influences, an enchanted place that’s poised to redefine the intersection between work, lifestyle and art. It’s the best of all worlds.

Introducing Marco Polo by Gryphon, an 11-storey, mixed-use community on Cambie Street at 49th Avenue. When completed in late 2027, Marco Polo will provide a forward-looking workplace model that seamlessly combines the best of traditional offices, ground-floor retail, a private club with co-working spaces and wellness amenities with three levels of opulent residences, all within a single development.

One key differentiator that’s causing a whirlwind of excitement within the medical community is Marco Polo’s three levels of premium offices that will be medical-use ready, including independent water/sewer lines. That’s good news for tenants of many of the aging medical buildings in the Oakridge District.

BRINGING LIFESTYLE TO WORK

Driven by Gryphon’s deep commitment to respond to the evolving needs of sophisticated business professionals, Marco Polo’s

MARCO POLO

WORK, LIFE IN BALANCE

10,000-sq.-ft. The Curator Club is something fresh and dynamic in Vancouver. Designed specifically to foster collaboration and ingenuity, The Curator Club will provide a wide range of amenities and services. From traditional offerings such as a lounge, casual workspaces and a fitness centre with yoga and Pilates rooms, to cutting-edge features that include content creator rooms, a communal kitchen and a double-height atrium space, every detail is curated to answer not the question “Why?” but rather “Why not?”

“People are now prioritizing wellness, especially with all the changes brought about by the pandemic,” says Jason Hsu, Gryphon’s CEO. “Employees are increasingly seeking a work-life balance that emphasizes health and flexibility. Offices with amenities are now experiencing 12 per cent higher demand than those without. At Marco Polo, a trip to the office becomes an extension of your everyday lifestyle.”

ENVIABLE LOCATION

Poised to become the new downtown, Oakridge is a neighbourhood that can lay claim to being at the centre

of everything. Education at all levels, including Langara College and the highly sought-after International Baccalaureate Programme at Sir Winston Churchill Secondary School, are close at hand.

SkyTrain connection to Vancouver’s business district and the Vancouver International Airport are right across the street, and the future R4 RapidBus connecting to UBC and Metrotown will be right outside the front door. There’s also an abundance of parking

stalls—more than a 1:1 ratio. It’s a new level of convenience no matter where you want to go or how you want to get there.

Parks and greenspaces, too, are within easy strolling distance. Tisdall Park is around the corner, the lush greenery of the Langara Golf Course just down the street, and Queen Elizabeth Park with its spectacular views and fragrant rose garden is a short drive to the north along the Cambie Corridor.

LIVE CONNECTED

“Marco Polo seamlessly blends elements from East and West to create a unique and luxurious space,” says Sarah Ou Yang, principal and creative director of CLVR Studio.

“The Curator Club’s social areas are designed like a hotel, where people can make connections and unwind, while features like meeting rooms and content creation rooms are spaces for collaboration that make big ideas come to life.”

Marco Polo offers 198 AAA strata offices, 13 retails spaces, and 45 residential units. Commercial and retail units are now pre-selling. The Marco Polo presentation centre is open by appointment only at 2762 Granville Street. Information about residential suites will be announced next year. Call 604.620.8295 or visit marcopolobygryphon.com to register, so you’re among the first to discover more about Marco Polo.

SOUTH CAMBIE A NEIGHBOURHOOD WITH PANACHE

by MICHELLE HOPKINS

South Cambie’s borders include Elizabeth Park to the east and the tonier Shaughnessy on the west. It is located between the busy northsouth corridors of Oak and Cambie streets and stretches from West 16th Avenue in the north to West 41st in the south.

THE VIBE

South Cambie might be one of the smallest of Vancouver’s neighbourhoods but it’s got panache! Since the Canada Line went in, this former sleepy enclave burst onto the scene as a cultural melting pot

waiting to be discovered. It’s saturated with a variety of upscale, bohemian and chic boutiques, bakeries, bars and restaurants.

THE LIFESTYLE

Favourite hangouts run the gamut. Whether it’s enjoying nature’s best, a fashionista’s dream or anything in between, South Cambie is emerging proud and strong after years of growing pains (think Canada Line nightmares)! In the southern-most part you have a beautiful boulevard with oversized trees known as Cambie Heritage Boulevard, and there’s Queen

Elizabeth Park up on Little Mountain. There’s also an antidote for serious shopaholics — Oakridge Shopping Centre or funky boutique shops along the Canada Line.

MEET THE NEIGHBOURS

With the high cost of housing and dwindling supply, a growing and aging population and an exodus of youth who can’t afford to live in the city, South Cambie residents are now affluent upwardly mobile young professionals and families, as well as empty nesters with deep pockets. Here’s the breakdown: Roughly

33 per cent are of Asian descent, 31 per cent are immigrants hailing from a hodgepodge of nations and 21 per cent are baby boomers 60-plus.

IN THE AREA

Besides its crown jewels, Queen Elizabeth Park and Nat Bailey, South Cambie is renowned for its topnotch hospitals, great educational institutions, the posh Oakridge Shopping Centre, and let’s not forget great ethnic eateries, funky watering holes and distinctive boutique shops.

PLANES, TRAINS AND AUTOMOBILES

The much-anticipated completion of the $2-billion Canada Line dramatically transformed the neighbourhood and has gotten residents out of their cars, while making it easy to get to YVR. Cyclists rule in Vancouver and the city has made it a priority to create many dedicated bike lanes.

DOLLARS & SENSE

Increased density and transit access contributed to a shift in house prices, with homes tripling in price. Getting into this neighbourhood is not cheap but the city has approved a number of condo projects, making living here slightly more affordable!

HOT SPOTS

WALRUS DESIGN

This funky, contemporary lifestyle boutique is where you’ll find anything from a cannabis candle to laser-cut birch plywood coasters and everything in between.

BIERCRAFT BISTRO

For beer afficiados, this is Mecca. Biercraft has a huge selection of specialty and craft beer from around the globe.

LEMONADE GLUTENFREE BAKERY

This sweet spot is a hit with both locals and merchants. For those with a serious sweet tooth, don’t be frightened off by glutenfree … everything is sinfully delicious!

GENERATE EXTRA INCOME

BY LEVERAGING

YOUR HOME

ALISA ARAGON-LLOYD

Real estate is a big investment, but remember, it is an investment. If you purchase a property strategically, it can help you generate income, tax savings and capital appreciation.

For example, if you have a lot of extra space in that spare bedroom, garage, or basement that you are already heating, paying taxes on and making mortgage payments for, why not earn some extra money at the same time? There is a positive side to becoming self-sufficient using

the assets you already have. With increased day-to-day costs, there is a huge financial advantage to keeping your overhead costs low by having a home-based source of income.

It’s always a good idea to check first with your local bylaws to ensure that you familiarize yourself about licenses, fees and other requirements that govern your municipality. Also, don’t forget to report your earnings on your income tax return.

THE FOLLOWING ARE SOME WAYS TO MAKE MONEY:

• Use your home for a business Not only does this save you the cost of renting a separate location for your business, it creates tax deductions for the portion of your home that

you use for work. Even if you don’t have your own business, you may be able to telecommute with your current employer.

• Rent out a portion of your home When buying, look for properties with basement suites or mother-inlaw suites. If you are willing to share living space and extra bathrooms, you could use the spare bedroom for a home stay or get a roommate. This can create substantial monthly revenue, which can reduce or cover your mortgage payments.

• Rent out storage or parking If your garage or basement is usually empty, rent them out for storage space. Similarly, if your condo comes with a parking space you never use, rent it out. Be sure to

check condo regulations first and have a contract so you are not liable for damage.

• Rent to vacationers If you travel for months at a time, offer your home as a vacation rental. This also works if you have a second, often-unoccupied property in a desirable location. Make sure you have a contract that covers any potential risks.

• Throw party sales Some homes are just natural gathering places. You can host a party sale, such as Tupperware, Mary Kay, or anything that interests you (e.g., lingerie, essential oils, bath and body products, health and weight management products). If you are not interested in being a salesperson, independent distributors may be willing to part with a share of their profits or pay to use your home instead of theirs.

• Boarding place for dogs and cats

Are you an animal lover? Many pet owners would rather board their pets in a private home than at a commercial kennel. Make sure you follow all bylaws and necessary requirements.

• Ready for Hollywood? Your home might have star potential. There

are residential property scouts that search for locations for films, TV shows and commercials. You can also register your property in a film location. Scouts will prepare a digital casting call from properties and match the director’s needs. Make sure that you are fully aware of what changes or modifications they will do to your property and that all repairs are completed due to the set designer’s damage.

• Reduce taxes When you purchase a revenue property, you generate substantial tax deductions for mortgage interest, closing costs, property taxes and ongoing maintenance.

• Leverage your equity If you have substantial equity in your home, you have access to an affordable source of funding for other revenue-generating opportunities, such as investments, starting your own business, or upgrading your education.

SPEAK WITH A PROFESSIONAL

Before heading out on your journey to generate extra income through homeownership, speak with a professional mortgage expert on how to create wealth through real estate.

Alisa Aragon-Lloyd has been a mortgage expert for more than 11 years. She has her own company, Bridgestone Financing Pros, powered by DLC Origin Mortgages and is on the board of directors for the Homebuilder Association of Vancouver (HAVAN) and an award-winning member.

BURNABY

1. OASIS AT CONCORD BRENTWOOD 4863 Dawson Street concordoasis.com

2. JUNEAU 604-299-9191 juneaubyamacon.com

3. CEDAR CREEK 7166 14th Street 604-529-8868 liveatcedarcreek.com

4. ALASKA 4455 Alaska St 604-299-9191 alaskabyamacon.com

5. BORDEAUX 4488 Juneau Street bordeauxliving.ca

6. ECLIPSE BRENTWOOD 2463 Beta Avenue thind.ca/eclipse

7. MOONLIGHT SONATA 3550 Wayburne Drive 778-788-1480 moonlight-sonata.ca contact@moonlight-sonata.ca

8. O2 METROTOWN 5137 Kingsway 778-886-8280 o2metrotown.com

9. AZURE AT SOUTHGATE CITY 7662 18th Street 604-544-8800 azureatsouthgate.com

10. THE STANDARD Metrotown thestandardbyanthem.com

11. SLATE 5180 Lougheed Hwy slatebybeedie.com

12. CONCORD SKY-HOUSE 4750 Kingsway concordmetrotown.com

13. POLARIS METROTOWN 6699 Dunblane Ave 604-565-7733 polarismetrotown.com

14. NUVO 6075 Wilson Avenue nuvobyanthem.com

15. THE AMAZING BRENTWOOD 4567 Lougheed Hwy 604-298-7314 theamazingbrentwood.com

16. SOLO 4 2131 Willingdon Avenue 604-298-8800 soldistrict.com

17. CONCORD METROTOWN Nelson Ave & Kingsway concordmetrotown.com

18. HIGHLINE METROTOWN 6511 Sussex Avenue highlinemerotown.com

19. METRO 21 6540 Marlborough Avenue metro21.ca

NEW WESTMINSTER

20. MOODY ON THE HILL 228 6th Street 778-895-5533 moodyonthehill.com

21. THE KEARY 230 Keary Street thekearybywesgroup.ca

22. TIMBER HOUSE 310 Salter Street timberhousebyaragon.ca

23. CONCORD GREENHOUSE 5895 Barker Ave 604-435-1383 concordgreenhouse.com

RIVIERA AN ODE TO GLAMOUR

The Palm Springs ‘Golden Age of Glamour’ has arrived in the heart of Metrotown. Introducing Riviera, a 38-storey tower integrating worldclass craftsmanship and sophisticated mid-century style that’s poised to elevate urban living in this sought-after Burnaby neighbourhood.

At the grand entry, an illuminated water feature and distinctive gold lattice metalwork greets residents and their guests—sophisticated, iconic and unlike any other. Inside the soaring, two-storey lobby, a pair of magnificent chandeliers further enhance Riviera’s mid-century aesthetic and create a dramatic nighttime visual, while a concierge is ready to provide uncompromising assistance.

HOMES TO SATISFY

Finishes and fixtures in each home have been meticulously curated to create a serene, elegant tranquility. Spacious, well-planned layouts are

equally suited to family living as they are for effortlessly hosting special occasions. Expansive windows and ceilings of up to nine-ft. invite natural light inside.

Kitchens include an entertainmentfriendly island with a rich stone waterfall edge and lots of space for prep or platters. Full-height cabinetry is paired with quartz composite counters and a seamless Carrara-inspired backsplash for a sleek, contemporary look. Full-sized appliances include a five-burner Bosch gas cooktop and an integrated Fisher & Paykel French-door refrigerator ready to handle demands of every chef.

All this plus generous balconies or garden patios with outdoor lighting.

DAZZLING AMENITIES

Amenities, too, are a step above. Just an elevator ride away, an entire floor of hospitality-inspired amenities awaits—8,000 sq. ft. in all. Here, you’ll

LOCATION

Metrotown

BUILDER

Ledingham McAllister

HOME TYPE

Highrise

SALES CENTRE

4700 Imperial Street, Burnaby

CONTACT admin@rivierabyledmac.com or 778.658.0288

discover a state-of-the-art fitness centre, social club with fireside lounge and impressive chef’s kitchen and private dining, as well as a comfortable guest suite. Outside, Riviera’s lushly landscaped terrace includes fire tables, barbecues, an outdoor dining space and smartly designed lounge seating. The Riviera Presentation Centre is now open noon to 5 p.m. daily for previews, except Fridays at 4700 Imperial Street in Metrotown. Be among the very first to learn about Riviera as you explore our brandnew Presentation Centre and two beautifully designed display homes. Sales begin soon with prices starting at $764,900.

For more information and to learn about our early buyer incentives, contact the Sales Team at admin@rivierabyledmac.com or 778.658.0288. Register now to stay up to date at rivierabyledmac.com

ICON AT SOUTHGATE CITY

Now under construction in the heart of Burnaby’s Southgate City, Icon is poised to become a tranquil enclave in this spectacular 60-acre masterplanned community. Here, residents will experience an easy connection to the surrounding natural environment, as well as exceptional access to every urban amenity.

Soaring 46 storeys to the sky, Icon is Southgate City’s third tower and boasts an eye-catching, elliptical architecture unlike anything else in the neighbourhood. It all adds up to the best of urban living and social engagement.

SAVVY INTERIORS

Comprised of 352 homes ranging from one-bedroom to spacious 1,323-sq.-ft. three-bedroom plans, every fixture and finishing detail has been meticulously curated to craft homes of serene sophistication and elegance. Nine-ft. ceilings plus generous windows create homes that feel open and airy from every angle. And there’s LG integrated heating and air conditioning for comfort

throughout all four seasons. Even the balconies are unique, each one gracefully curved to become a private outdoor oasis.

Chef-inspired kitchens include spacious islands with waterfall edge, premium appliances including five-burner gas cooktop with an undermount stainless-steel single wall oven, and marble-inspired quartzcomposite counters with a matching seamless backsplash. After all, good parties and social gatherings always end up in the kitchen.

Bathrooms, too, present a luxurious outlook, with spa-inspired features including floating-like vanity with custom mirrored medicine cabinet, frameless glass shower or deep soaker tub, and a relaxing ambience.

AMENITIES FOR YOUR LIFESTYLE

Icon’s indoor and outdoor amenities—over 9,000 sq. ft. of them—are sure to impress.

At the grand entrance, an illuminated water feature dances beneath an impressive art sculpture. There’s a hotel-inspired auto court for

effortless drop-offs and pick-ups, plus a dramatic, double-height lobby with concierge desk.

And here’s just a hint of what you’ll find inside: A social club area with fireside lounge, games room, chef’s kitchen and dining area. Step out onto the sprawling outdoor Terrace Lounge that includes outdoor kitchen and dining, plus firepit and lounge seating all surrounded by lush landscaping and sparkling waterscapes. Get fit in the stateof-the-art fitness centre featuring a dedicated yoga and meditation room. When you need a change from the home office, there’s a convenient coworking and study room. And when guests come calling, which you know they will, there’s a comfy guest suite. So, who says you can’t have it all?

The Icon presentation centre is open noon to 5 p.m. daily for previews, except Fridays at 7662 – 18th Street in Burnaby. Sales begin soon with prices starting at $729,900.

Visit iconatsouthgate.com or call 604.544.8800 for more information.

Sleep on it

by BREN PETRUNICK photos MIKE CHAJECKI

Snuggle up in style in a bedroom designed for comfort and warmth

pro-tip:

Before you go shopping, measure your mattress depth. Standard sheet sets might not fit mattresses that are higher than 14 inches. Include your mattress pad or topper in your measurement, as the additional thickness needs to be considered. There are three common height ranges for fitted sheets: Standard, deep pocket, and extra-deep pocket.

While you might consider key furnishings such as a bed or dressing table to be the focal point in the bedroom, it’s really the fabrics that take centre stage. Materials are a unifying feature in any room, but they garner a special significance in the bedroom, as they are both a design element and a functional necessity. Heading into the cooler months is when we feel the impact of bedroom fabrics the most. As temperatures begin to plummet and hibernation mode sets in, we are tempted to spend more time nestled in our bed. Here are three tips if you’re shopping for sheets, plush pillowcases and cold-weather covers.

Seasonal switch-up

The transition between seasons is an excellent signal to swap out your bedding. A refreshed bed scape will create a comfortable, cosy nest for sleeping, no matter what Mother Nature has in store for us. This is a great time to pack away your lightweight cottons and linens, and dress your bed in heavier, heat-retaining fabrics.

COTTON FLANNEL

If you tend to reach for flannel shirts and pajamas when the temperatures

drop, flannel sheets might be right up your alley. This soft, mid-weight cotton has a fuzzy finish that comes from brushing or a loose weave. Flannel packs an extra punch of fluff to keep you toasty through the cooler nights ahead.

EGYPTIAN COTTON

If you want to surround yourself in warmth and luxury, Egyptian cotton is for you. Widely hailed as the most luxurious bedding fabric around, Egyptian cotton is the common name for the extra long staple (ELS) cotton produced in Egypt’s unique climate, where cotton fibres grow longer than other cotton varieties. With an unsurpassed reputation for exceptional quality, Egyptian cotton yields sheets with superior softness, durability and breathability. One touch of this exquisite fabric and you won’t give the higher price tag a second thought.

Size matters

Selecting bedsheets that are the correct size for your mattress is critical to comfort. Loose sheets can become a tangled nightmare while you sleep, while sheets that are too tight put you in the middle of a wrestling match every time you wash your linens and make your bed. Also, mattresses come

in a range of depths and dimensions and selecting the right size sheets can feel like a guessing game.

Layer up

Dressing your bed for cooler seasons doesn’t stop at sheets, pillowcases and a comforter. Layering is an effective way to give visual and physical warmth to a room. Add a mattress topper, extra pillows and throws in a variety of textures and textiles such as velvet, wool and chunky knits for more heat. Don’t forget about plush area rugs underfoot and treatments for the windows. Heavier, coordinated drapery on your windows helps trap in heat and block out light, so you can hibernate in total comfort, while creating a cohesive esthetic.

It’s all in the details

When designing a bedroom interior, it’s easy to fixate on the bed as the focal point of the room. While this starts you off on the right track, you’re just scratching the surface of what’s possible with bedroom design. The sum total of all the little details can make or break a room. And, in the case of a bedroom, luxurious, layered fabrics that are perfectly fitted to the space and the season can all but guarantee a good night’s sleep.

Bren Petrunick is the creative founder of award-winning Simply White Interiors. For two decades, the Niagara-based design firm provided stylish and uniquely personal interiors. Servicing Niagara, the GTA, and Ontario. swi.design IG: @simplywhiteinterior

FIND YOUR NEXT HOME

PREVIEWS & REGISTRATIONS

Home type: Condominiums, townhomes, loft homes

Developer: Aragon

On the map: New Westminster

Web: timberhousebyaragon.ca

GREENHOUSE

Home type: Condominiums

Developer: Concord Pacific

On the map: Burnaby

Web: concordgreenhouse.com

Info: Greenhouse, inspired by a bygone era, is conceptualized as a modern-day facsimile of the French orangeries of old, a one-ofa-kind project created in harmony with nature. Modern amenities include the serene Crystalline Pool, the Fountain Pavilion and an elegant dining hall. Expansive suites transition to a convertible solarium that feature retractable glass panels and a balcony heater for all-season enjoyment. Register today.

MARCO POLO

Home type: Condominiums

Developer: Gryphon Development

On the map: Vancouver

Web: marcopolobygryphon.com

Info: Marco Polo, an 11-storey, mixed-use community on Cambie Street at 49th Ave., offers 45 residential units with a forwardlooking workplace model that seamlessly

combines the best of traditional offices, ground-floor retail, a private club with coworking spaces and wellness amenities and opulent residences. The Curator Club is 10,000 sq. ft. offering amenities and services such as a lounge, casual workspaces, a fitness centre with yoga and Pilates rooms, content creator rooms, a communal kitchen and a doubleheight atrium space. Register today.

METRO21

Home type: Condominiums

On the map: Shokai

Developer: Burnaby Web: metro21.ca

Info: Deeply rooted in exclusivity, sophistication and comfort, this boutique residence serves as an enduring sanctuary that elevates the quality of your life. Here, a carefully chosen collection of amenities meet your professional needs and personal aspirations, for an unmatched lifestyle that masterfully strikes a balance between enduring elegance and modern living. Register today.

Info: Timber House is a collection of 87 oneto four-bedroom condominiums, townhomes, and loft homes. The exterior’s modular design introduces a combination of glass accents plus matte black, textured white, and wood siding, for a sophisticated yet welcoming look. A lush, central courtyard with meandering paths and a kids’ play area connects Timber House directly to both the riverside boardwalk and the rest of the Port Royal community. Plus, the building incorporates cross laminate timber (CLT) construction, an environmentally friendly material that is durable, versatile, and inherently beautiful. Register today.

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, KINDLY EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

TIMBER HOUSE

This page features a few of the latest properties to keep your eye on in the Metro Vancouver area.

TIMBER HOUSE

COQUITLAM – PORT COQUITLAM – PITT MEADOWS – MAPLE RIDGE

1. WEST 505 Nelson Street westbybeedie.com

2. SYDNEY 545 Sydney Ave. 778-948-0333 sydneybyledmac.com

3. VUE Foster Ave & Whiting Way vueliving.ca

4. SOPHORA AT THE PARK #101 - 1135 Pipeline Road 604-942-8416 polyhomes.com

5. PRECIDIA 520 Cottonwood Ave 604-422-0080 precidiabyledmac.com

6. ALINA 604-259-8626 ownalina.com

7. SOL Como Lake Ave & Robinson 604-937-9688 solexperience.ca

8. DWELL Smith Ave & Clark Rd dwellbyanthem.com

9. QUEENSTON 3431 Queenston Avenue 604-259-7178 queenstonliving.ca

10. GARDENA 635 Gardena Drive gardenaliving.com

11. FRASER MILLS

2 King Edward Street frasermills.com

12. DEBUT | FRASER MILLS

2 King Edward Street debut.frasermills.com

13. LODANA 601 Rochester Avenue liveatlodana.com

MAPLE RIDGE

14. PROVENANCE 11295 Pazarena Place 604-467-2285 polyhomes.com

15. CREST KANAKA SPRINGS 25024 112 Ave 604-405-1903 kanakasprings.com

1. MINORU SQUARE 5740 Minoru Blvd thind.ca/minorusquare

2. LUXE LANSDOWNE Lansdowne Road & Number 3 Road luxelansdowne.com

3. PARK RESIDENCES II AT MINORU PARK 6333 Mah Bing Street 604-563-8899 parkresidences.ca

4. RC RICHMOND 6331 No. 3 Road 604-788-6608

5. GALLERIA 8555 Capstan Way 604-233-7748 concordgalleria.com

UNDERSTANDING THE EFFECTS OF A

HOUSING MARKET SHIFT

BRITTANY REIMER

Investors, owners, potential buyers and real estate agents alike have been keeping both eyes on the shift in the Metro Vancouver market. While the

real impact of these shifts can be a divisive and difficult thing to ascertain, anyone seeking to better understand the effects of market changes should turn their attention toward market cycles in general and what they are and how they work.

While no two market cycles are alike, understanding a typical cycle can help you maximize

returns by making informed and well-reasoned decisions.

WHAT IS A MARKET CYCLE?

In real estate, a textbook market cycle is made up of four main phases: Recovery, expansion, hyper supply, and recession.

Recovery: During this phase, market growth is stagnant, with

limited housing starts. This presents opportunities for investors to keep an eye out for any signs of advanced recovery and to jump on belowmarket value properties.

Expansion: The next phase in the cycle consists of strong economic growth and an increase in demand for housing as the economy improves. Buyers also start to gain confidence,

which leads developers to create properties that can be sold at a higher market value.

Hyper supply: A market may experience this when the housing supply exceeds buyer demand. This is typically a result of developers and investors trying too fervently to increase the supply when demand is high.

Recession: The final phase means that supply has exceeded demand by a wide margin and there are high vacancy rates.

It’s important to note that not every market follows a classic market cycle and is dependent on several external factors including government policies, socio-economic factors, demographics and technology. For example, we know that the Lower Mainland has suffered from a decades-long period of undersupply in housing. This means that this market may be less prone to the hyper-supply phase of market cycles.

WHAT HAS CHANGED IN RECENT CYCLES?

The speed in which information is reaching consumers has had a large impact on established market patterns. Today’s homebuyer is increasingly well-informed, with access to a large and diverse amount of information. Because of the quick distribution of information via social media and the internet, market sentiments and activity can change at a faster rate based on headlines and chatter.

The result of this is reflected in the numbers when you look at the acceleration in velocity and amplitude of the ups and downs. In many ways, the information explosion is a blessing and a curse to the real estate industry. Homeowners and buyers can stay informed and make the best decisions for themselves. However, the sharing of information can lead to reactivity and result in over-pronounced enthusiasm or pessimism. When the landscape is shifting so rapidly, there is more pressure to react quickly out of fear. However, the reality is that without time for deep consideration

and understanding, unintended consequences can sneak in.

WHAT DOES A MARKET CYCLE LOOK LIKE TODAY?

In the past, industry insiders often mentioned the ‘seven-year cycle’ in real estate, while other research concluded that the average real estate cycle span is more like 18 years. But with the continued increases in the speed of the market cycle, it’s no longer accurate to talk about the industry in these ways.

We are now much closer to threeyear cycles as a result of the volume of information available and the rate of how it is distributed. Geopolitics have become not only relevant to the conversation but extremely important. Overnight news now has an immediate impact. In the past, troubling economic news would occur overseas, and there would be time to contemplate its potential consequences and how to react. Now, reactions can be immediate. With the speed of market changes moving at an increasingly brisk pace, it’s becoming easier to be caught up in ‘hype’ or to make snap decisions as you try to avoid market ‘FOMO’. To not get caught up in this fearbased decision-making, it’s crucial to take in a fuller, more holistic view of the market.

Understanding the pace of the market cycles can be a helpful tool when deciding to purchase a home or invest in real estate. However, it has proven over the years that the right product for the right homebuyer will always sell, regardless of the pace of market cycles.

Brittany Reimer is managing director of MLA Canada’s Fraser Valley branch. Brittany uses her experience, relationships and passion for the real estate marketing industry to help push MLA into a new frontier.

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