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Squamish is known for its spectacular outdoor lifestyle opportunities. Maples at Fintrey Park offers brand-new,

detached homes in this growing community ›› p.4

September 16, 2010

Conditions in the Metro Vancouver housing market continued to favour buyers throughout August, reports the Real Estate Board of Greater Vancouver.

Since April, home prices have edged down slightly as the number of sales and the number of properties coming onto the market have been declining.

Residential property sales in the region in August decreased compared to the same month last year, but the REBGV notes August 2009 was the second-highest selling August ever recorded.

Last month’s 2,202 residential sales rep-resented a 40.4 increase over the 1,568 residential sales in August 2008, but numbers declined com-pared to August 2007 and August 2006.

New listings for detached, attached and apartment residences also declined compared to August 2009, but total ac-

tive listings in Greater Vancouver currently sit at 15,421 – a 29 per cent increase from the same month last year.

However, even with recent declines in sales and starts, REBGV president Jake Moldowan notes that people thinking about buying home may find the right time is now.

“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variable that favour those looking to pur-chase a home,” he says.

“The past few months have also shown some stability when it comes to price fluc-tuation in the region, which is a welcome trend after reaching record highs in April.”

Since spring, housing prices in the region have decreased by 2.8 per cent com-pared to the all-time high reached in April, when the residential benchmark price was

Buyer’s market conditions continue

TRICIA LESLIE

Giving up a car may be hard for some.But for Metro Vancouver homeowners who

live near busy transit corridors, it may be easier than expected, especially thanks to the advent of car-share networks, such as The Car Co-op (The Co-operative Auto Network) and Zipcar.

Local builders are actively participating in help-ing homeowners reduce their carbon footprint, as building new homes and communities with green, sustainable practices is now fairly com-monplace in the region.

Several new-home projects in Metro Vancou-ver offer one or more car-share parking spaces, including Cressey’s James in southeast False Creek and Adera’s Green in Burnaby; others, like Concord Pacific’s Smart project in Gastown, offered lower prices to homebuyers if they didn’t include a parking stall in their purchase.

At ParkLane Homes’ The Block in Vancouver, homebuyers were offered a free Zipcar member-ship – and access to two nearby Zipcar vehicles – when they purchased a home there.

A Vancouver bylaw, updated in 2009, helps promote this process by allowing developers a reduction of five parking spaces for every car-sharing vehicle and associated parking stall; while this isn’t a bylaw in every Metro Vancou-ver community yet, similar opportunities exist

Go green: give up a car Metro Vancouver builders help provide a sustainable lifestyle

Brent Toderian, director of planning for the City of Vancouver, prepares to drive a car-share vehicle. Car sharing programs can help local homeowners live a greener, more affordable lifestyle. Martin Knowles photo

CONTINUED ON P.2 CONTINUED ON P.2

Jake Moldowan

2 New Local Home September 16, 2010

Publisher: Fiona Harris • 604-575-5822 • [email protected]: Tricia Leslie • 604-575-5346 • [email protected]: Maggie Calloway • [email protected] Advertising Sales: Black Press National Sales • Adrian Saunders • 604-575-5812 • [email protected] Advertising: 604-575-5822Designer: Brad Smith • [email protected]

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.

in many local municipalities, as planners allow the same provisions without the enacted bylaw.

“We see this as a very important, sustainable part of (Vancouver’s) Greenest City Initiative,” says Vancouver director of planning Brent Tode-rian, who is also a Zipcar member.

“A car that is parked but not used still adds to the carbon footprint,” he notes, and adds that the cost of parking, especially underground parkades, usually transfers to the cost of the unit.

Being a member of a car-share program means flexibility, and allows drivers to use a variety of different vehicles when they’re needed, Toderian says. Regular maintenance and such are paid for through membership fees, but overall, being a car-share network member is much less costly than owning a vehicle, especially when factoring in pay parking fees.

“I stopped using a personal vehicle over a year ago, and car sharing has been a big part of that,” Toderian says. “I don’t need one all the times, but what about the times I do need one? The car share fills that gap.”

Plus, there’s a choice of vehicles, Toderian notes.

“You can get a truck to go to Ikea or get a Prius ... the flexibility is great.”

Car sharing can have strong sustainable and affordability advantages for any homeowner, Toderian says, which can make the new-home projects that offer such incentives more popular with Metro Vancouver homebuyers.

He notes the City of Vancouver sanctions two car-share programs: The Car Co-op and Zipcar.

It is up to each developer to build a partner-ship with either, in order to offer car sharing

stalls and vehicles. Tanya Paz, client relations and development director at Vancouver branch of The Car Co-op (also known as The Co-operative Auto Network), says that car share program first started in Metro Vancouver in 1997; Vancouver was the first English-speaking member of TCC behind Germany, Switzerland and Montreal, she notes.

A member herself since its inception, Paz notes the network now has 245 vehicles in the

region – in eight Metro Vancouver mu-nicipalities, with the highest concentra-tion of vehicles centred in Vancouver – and thousands of members and clients (people can try out the net-work as clients, but members buy into

the co-operative as shareholders and get better rates).

“We’re on the verge of 7,000 drivers,” says Paz. “It’s great for people who need a car roughly four days a week or less.”

Paz recalls receiving two calls from two differ-ent couples, anxious to thank The Car Co-op for enabling them to live in Vancouver.

“They called and said, ‘We were able to buy a home in Vancouver because of you,’” she says.

“It’s basically, less than owning a vehicle and less than always taking a cab ... it’s about creating a sustainable transit system for yourself.”

TCC member and Vancouver resident Martin Knowles, who is also a serious cyclist, says he’d recommend joining a car-share program to anyone, especially now that more and more car sharing options are becoming available.

“I’m able to do a lot of my day-to-day errands by walking or by bicycle,” Knowles says, estimat-ing he uses TCC about once a week or less. “The co-op is an ideal solution. When I do need a vehicle, I just look up the ones that are available nearby. I think it’s an awesome way to go.”

At Adera’s Green – a Burnaby townhome community that has won several awards for its sustainable, innovative approach – the several car-share vehicles that are offered are a hit with homeowners, especially the younger generation, says Adera vice-president of marketing and sales Eric Andreasen.

“The more youthful buyers are really con-cerned about the state of the planet and go to really great lengths to make sure they’re partici-pating in sustainable practices,” he says.

Local transit systems are another option for homeowners who want to go green and give up one – or both – vehicles.

At Burnaby Mountain’s UniverCity, for ex-ample, developers offer homebuyers in the new Simon Fraser residential community a heavily discounted monthly transit pass, an idea Surrey Coun. Marvin Hunt thinks is superb.

Earlier this summer, Hunt put forward a pro-posal to council suggesting developers provide homeowners with free transit passes, should they purchase a new home in a heavily populated area of Surrey, along a transit corridor.

Parking stalls can be costly, Hunt notes, and says the idea would be for each developer to talk to TransLink and work out a partnership.

“I think we’ve got to get more creative (to be sustainable),” says Hunt.

“There are challenges for us in Surrey, where we’re so car-dependent, but it’s certainly my hope (the proposal will pass unanimously). Council has supported the concept.”

Hunt expects his proposal will likely find its way back to council in October.

Adding more incentives for developers to in-crease car share space or to help their homeown-ers take transit can only help the environment, Toderian and Hunt agree.

“It is in our interests to spread it around as much as possible,” says Toderian.

$593,419. Over the past 12 months, the MLS benchmark price for all residen-tial properties in Metro Vancouver increased by 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009, says the REBGV.

“Canada remains an attractive des-tination for foreign buyers, a fact that

continues to affect activity in the Greater Vancou-ver housing mar-ket,” Moldowan says.

Canada Mort-gage and Housing Corporation re-ports that housing starts were down by three per cent across the country in August, but in B.C., August’s sea-sonally adjusted rate of urban housing starts moved higher to

25,400 units from 20,100 units in July.“Many centres across the Vancouver

CMA (Census Metropolitan Area) have seen a rise in single detached housing starts in response to strong consumer demand for ground-oriented housing. Not only are developers building in areas of raw land supply, but also there has been an increase in infill develop-ments in areas such as Vancouver City, Burnaby and Richmond,” says CMHC senior market analyst Robyn Adamache.

“Multiple-family units still dominate new home construction activity, making up more than two-thirds of all housing starts in the CMA.”

CONTINUED FROM P.1

Single, detached starts see rise

Co-op car stalls at Vancouver City Hall (above, Martin Knowles) and at Adera’s Green.

“Many centres across the Vancouver CMA have seen a rise in single detached housing starts in response to strong consumer demand.”

Off the front: “A car that is parked but not used still adds to the carbon footprint.” – Brent ToderianCONTINUED FROM P.1

“The car sharefills that gap”

Cressey’s James offers car-share vehicles.

CarSharing

Martin Knowles photo

New Local Home September 16, 2010 3


The Maples is launching a new series of homes, located next to Brennan Park off Finch Drive. Close to all amenities.

Ranchers and two-story single family homes ranging from $499,000 to $579,000. Financing packages are available.

For more information call 1.888.262.2808 or go online to www.fintreypark.com

or visit our Presentation Center on the corner of Finch and Bryson in Squamish. ( See hours and location

under “Find Us” on the website).

Close to Vancouver. Close to Whistler. Closer to nature.

$20,000 in purchase credits available for the first 10 buyersNow selling new homes in Squamish . . . just 45 minutes to Whistler or Vancouver on the new Sea to Sky Highway

Squamish: the outdoors is yours

It’s known as the outdoor recreation capital of Canada – and for good reason.

With world-renowned ski resort Whistler just 45 minutes away on one side, Vancouver 45 minutes away on the other, and surrounded by the spec-tacular beauty of the Pacific Ocean and B.C.’s beautiful West Coast mountains, Squamish is starting to become known as one of Metro Vancouver’s most desirable communities.

And a great place to purchase a new home.

“People don’t recognize the potential Squamish has as a bedroom commu-nity to Vancouver,” says Maples at Fin-trey Park sales director Don Coggins.

“It’s only 45 minutes to Vancouver and 45 minutes to Whistler, and much easier (to live and commute) than the valley.”

Maples at Fintrey Park is a new, 175-home community set on 54 acres just off the Sea to Sky Highway in the heart of Squamish, close to downtown shopping and amenities.

Developed by Loggers Lane GP, built by Rommel Homes and managed by Glacier Creek Contracting Ltd., the new community features all single-family detached homes, all three

New Fintrey Park homes offer more

A kayaker navigates the Ashlu River in Squamish, where the opportunities for outdoor recreation are countless. tourismsquamish.comCONTINUED ON P.6


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SALE!FINAL BLOW OUT ONLY 9 SUITES LEFT

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SALES CENTRE4400 Buchanan StreetBurnaby BC V5C 6R4

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artist [email protected] jeff@� reboycreative.com

proof issued Sept 12, 2010

size Full Page | 10.3125” x 14” colour CMYKrun date TBD

version MO_NLH_MASSIVE_100913

SUITE DESCRIPTION TYPE SQ.FT. OLD PRICE SALE PRICE YOU SAVE

4 2 Bedroom & Den, 2.5 Bath TH 1,851 $725,200 $699,000 $26,200

701 2 Bedroom & Den, 2 Bath A 1,212 $576,700 $553,900 $22,800



1206 2 Bedroom, 2 Bath F 977 $504,100 $473,000 $31,100

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COTTAGE SIZE TYPE PRICERosemary 1168 sq ft 2 Bedroom Rancher $ 424,900 including HST

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Prices include HST for a limited time onlyPurchase now with only a 10% depositEnjoy now or move in next SpringA short 90-minute commute from Vancouver A $5 million, 10,000 sq ft clubhouse and pools fully complete3 display cottages open for viewing

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Copyright 2010 © | Higherground Project Marketing Inc. Brokerage and Sales by Multiple Reality Ltd. Prices are subject to change without prior notice.

Discovery Centre & Display CottagesOpen daily from 12 noon to 5pm except Wednesday

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Perfect place. Perfect timing.HST EVENT ON NOW!

SINGLE FAMILY COTTAGES

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Maples at Fintrey Park: live in Squamish

bedrooms or more. And the lifestyle?The outdoors is ‘in’ in Squamish.With plenty of worldwide exposure

during the 2010 Olympic and Paralym-pic Winter Games, Squamish’s breathtak-ing natural beauty transcended even the Games, leaving many visitors and specta-tors from elsewhere in awe of Beautiful British Columbia.

Its majestic mountains invite all kinds of activities: skiing, snowboarding, hik-ing, rock climbing, mountain biking, zip lining and more, while local golf courses and community amenities abound.

The ocean and local lakes, rivers and other meandering waterways and waterfalls welcome long walks, canoe-ing, kayaking, sailing and rafting, while camping is always popular.

For those who prefer to stay inside, there’s still plenty to do, from shop-ping to live entertainment to the area’s restaurants, lounges and cafes. Maples at Fintrey Park is also located right behind Brennan Park’s pool, ice rink, playing fields and fitness centre, while a two-kilometre interconnected walking and biking trail system will lead residents to Squamish in minutes.

Many of the homes at Maples at Fin-trey Park boast amazing mountain views; homes are designed in a wide variety of sizes and plans, from single-level homes to two-storey residences.

A rendering shows just two of the many available floorplans and designs at Maples at Fintrey Park, located just off the Sea to Sky in Squamish.

Maples prices attractiveCONTINUED FROM P.4

CONTINUED ON P.7


This image is an artists’ representation only. This is not an offering for sale. Any such offering can only be made with a disclosure statement. E.& O.E.

R E G I S T E R N O W 6 0 4 . 5 3 1 . 9 0 3 0 W W W. AV R A L I V I N G . C O M

Can small town values and big city amenities coexist?

Start with quality highrise residences located in the heart of the thriving

town centre. Add ocean views, amenity-rich shopping promenade of

Johnston Road, and top ranked local schools. Of course it can.

AV R A . I N T I M AT E & L I VA B L E . W H I T E R O C K .

Discover Squamish living

Coggins notes homebuyers can get a single-family detached home with garage starting from $499,000 at the Maples.

“There’s some pretty attractive pric-ing,” he says.

“If anybody is an outdoor person at all, this is the place to live.”

Designed to carefully maximize the natural benefits of its forests and streams, Maples at Fintrey Park was developed in consultation with the federal Department of Fisheries and Oceans, Squamish Stream Keepers and First Nations.

It offers 27 acres of preserved green space, the trail system, a neighbour-hood park and open play area, and natural view corridors that ensure more than 50 per cent of the home sites back onto green space.

Inside, every Fintrey Park home comes with a complete set of Frigid-aire or Kenwood appliances and floor-ing includes carpet, ceramic tile and laminate; homeowners can choose to upgrade with features like radiant-heat flooring as well.

A presentation centre for the project recently opened at Bryson Way and Finch Drive, just off the Sea to Sky in Squamish.

Visit www.fintreypark.com to find out more about Maples at Fintrey Park. Hiking the local mountains is always popular in Squamish, where the Maples at Fintrey Park offers new, detached homes to buyers. tourismsquamish.com

CONTINUED FROM P.6

‘This is the place to live’


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