Andreas Nystrom

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Most Vancouverites don't realize that Gastown in the oldest neighbourhood in the city. But this timeless beauty has been and is still undergoing massive change. The most recent change was going to be the cancelled origami glass tower right next to Waterfront Station. Some folks as well as the panel overseeing the zoning thought the building was too modern for the vibe of the neighbourhood.

 

At this point there are numerous new development proposals in the works for Water Street. As well as even more redevelopment applications in the works.

 

“We have about eight inquiries or early inquiries (for Gastown developments),” said Brian Jackson, Vancouver’s general manager of planning and development. “That’s on Water Street, on Cordova, Carrall, Powell and Hastings.”

 

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This month's Real Estate Board video takes a peek at how 2015 has started out. We have learned that last month's home sales were above historical norms, raised 8.7% compared to January 2014. At the same time homes for sale (active listings) have dropped below historical norms, 14.2% compared to January 2014.

Benchmark home prices for detached homes have increased by 8.4% due to high demand on a low supply. Learn more by watching the video below or please  contact me if you have any questions!



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A design panel for the City of Vancouver has rejected what has come to be known and the Origami tower situated right beside Waterfront station in the image above.  The 26-storey would have been placed in the existing parking lot between Waterfront Station and The Landing building.

 

The development was proposed by Cadillac Fairview which is renowned for it's architectural designs.

 

Vancouverites and the panel voiced out about the tower not because of the design but mostly because of what the design would do to the area. Placing a tower like that in Gastown would be an "amorphous geometric blob."

 

The main concern was placing an ultra modern design concept next to two 100 year old heritage buildings, one of them being Waterfront Station, a Vancouver icon.

 

The panel rejected the concept and forced the developer to redesign the building proposal.

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Bosa Equity is starting a program that will portion out a small percentage of a tenants monthly rent and stash it away to use as a down payment to buy one of their properties.

 

A lot of first time home owners find it extremely frustrating and difficult to sock away money while still living life, paying rent, having a family, etc. These new Rent-to-Own programs are starting to gain quite a bit of traction, especially in the more expensive desirable areas of the city.

Rent an apartment at a Bosa or BlueSky Properties rental building, and each month up to 15% of your rent is placed in a BosaEQUITY™ Credit Account. This credit can be put towards a downpayment in a future Bosa or BlueSky Properties new home purchase, to a maximum of 3% of the value of the home.

The amount saved will revolve around the tenants lease policy. When their tenancy is expected to renew they will be informed about how much they have saved and be given multiple options at that point.

 

Currently Bosa has two developments that will participate in this new program. You can live at Lido on False Creek or Viceroy in New Westminster. You can rent at Lido starting at $1295 for a studio, $1595 for a one-bedroom and $2045 for a two-bedroom.

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