| What Happened to Green Real Estate? |
Whatever happened to Green Real Estate?
When the North American economy was in full force, and the Vancouver real estate market was fully blooming Green building technologies were hot. Developers were promoting the latest Green additions to their projects, Green marketing was “in”, and consumers found a way to justify higher prices for these qualities. Since then, whatever happened to Green buildings? Was it a fad or did people actually value these additions to new developments and were willing to pay the price?
This fall, my experience with Downtown Vancouver condo and loft buyers has been disappointing in regards to Green value-adds. With a target audience of people who appreciate architecture, new technology, and new design, the Green demand has simply been forgotten. I believe this past 2009 economy has made our consumers very price conscious. People pay closer attention to what they are paying for and the short term returns. Even in our past 5 months of true sales and price recoveries, people are shopping with more short term intentions. Since March 2009, we have seen similar activity to the most active months in 2007 in regards to sales figures and price increases. (Read last month’s market report) But people are not acting the same when it comes to buying property.
Recently while promoting the environmental advantages of one of Vancouver’s few Green buildings “Pomaria,” (See below) a LEED tower in Downtown Vancouver, in more than one case, my clients would not consider the Green advantages while comparing prices to similar properties in the area. I felt disappointed, and slightly concerned. I brought up this issue amongst a few people in the industry, and they experienced similar feedback from other clients. Does this mean, now that the bottom line is “more important than ever,” people are forgetting about Green technology, and the long-term effects on the environment?
While attending a UDI (Urban Development Institute) development course last week, I spoke to other professionals within the industry about the possibilities of new Green initiatives being implemented by developers for upcoming projects, they quickly responded with the answer “no”. As expected, they asked if I have had experienced any demand or requests for these types of features from consumers. You can imagine where this conversation led...
My point of this article is that I hope that the Green initiatives can once again be absorbed and demanded by consumers. At this time I believe the pressure will have to come from government and planning departments. If there were tax advantages with certain Green guidelines for new developments this could cause some very positive energy. The reality is very few people are willing to pay the price up-front. Developers are not willing to add Green features if consumers are not willing to pay extra.
Pomaria 1455 Howe St – LEEDE residential condo tower
Pomaria is a 30 storey residential tower located in False Creek North in Downtown Vancouver. It was developed in 2007 by Qualex-Landmark and designed by Rafii Architects and Robert Ledingham. Pomaria was amongst the first and only developments to pursue LEED. This building has been designed to enhance living while considering some Green technologies including: a unique ventilation system, geothermal/geoexchange heating and cooling system, storm water management system, specially selected materials, and low volume/consumption appliances and fixtures. All these systems are designed to lower its impact and increase its long term sustainability. http://www.pomaria.com/
Written by Paul Albrighton.- also posted at http://www.albrighton.ca/blog.html
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Posted: 18-11-2009 under Vancouver Lofts |
| Market Update for October 2009 |
Summary for local Downtown Vancouver Market Report for condos and lofts
The market continues to show positive signs. Inventory is still low, and our market still remains as a sellers market (defined by having less than three months supply). Sales activity has slowed down since the Summer months which is typical for this time of year, however; sales in October were up 4.1% from September which was already a very active month. Compared to October of 2008, sales were up 117% for Greater Vancouver.
“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market today. We’re coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,” - Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said.
This month I wanted to more of an analysis of Greater Vancouver, and Western Canada.
November Market Update
Since the market correction last winter, the market has bounced back nicely to test previous highs, both in the number of sales and in benchmark prices. The summer of 2009 surprised many analysts and market-watchers with both its resiliency and fervour, and clients have asked what will happen in the fall and winter.
No one really knows what the market will do, but traditionally, the winter season has resulted in a slow-down in the market as families buckle down for the school year, weather patterns make buyer tours less pleasant, and holiday planning begins. Because there are fewer buyers, some sellers will decide that they can wait until these buyers return, which results in less supply to offset the drop in demand.
However, statistics show that house prices tend to be lower in the winter than in the summer which is why home price stats are seasonally adjusted. People who sell in the winter are more likely to be ready to sell and realistic rather than curious and unmotivated. Also, because there are fewer buyers, true negotiations between buyers and sellers are more likely to occur in place of auction-type multiple offer situations.
So what does this mean if you're a buyer or seller? If you're a buyer that has the flexibility to purchase during the winter months, your selection may become more limited, but if you find what you like, you will likely have a better opportunity to negotiate for your home rather than bid for it. If you're a seller, a limited supply can work in your favour if you have a good realtor that can outline the unique features of your home.
Every situation is different, and each year presents a new set of challenges and opportunities that require professional analysis. Source, Macdonald Realty Ltd.
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Posted: 04-11-2009 under Vancouver Lofts |
| Albrighton Vancouver lofts and modern condo buildings |
Albrighton Vancouver Loft bulidings, and architectural residences:
These webpages feature information, listings, and property for sale within these buildings.
PAUL ALBRIGHTON
Vancouver Loft and Premiere Architecture Realtor
Macdonald Realty Downtown Vancouver
604 315 5574
http://www.albrighton.ca/234-e-5th-ave-granite-block.html - Granite Block Lofts in Mount Pleasant - 234 East 5th, Vancouver
http://www.albrighton.ca/233-abbott-st-abbott-place.html Abbott Place in Gastown Vancouver - 233 Abbott St, Vancouver
"33" in Crosstown Vancouver - 33 West Pender
The Workshop Lofts in Mount Pleasant - 1220 E. Pender St, Vancouver
Koret Lofts in Gastown - 55 E. Cordova, Vancouver
Del Prado Yaletown Loft Building - 1155 Mainland St, Vancouver
The Hamilton Yaletown Loft Buliding - 1178 Hamilton St. Vancouver
The Space Lofts - Downtown Loft Building - 1238 Seymour St, Vancouver
Bowman Lofts in Crosstown - 528 Beatty St, Vancouver
XL Lofts in Cambie/Mount Pleasant W - 428 W. 8th Ave, Vancouver
Metropolis Lofts in Yaletown Vancouver - 1238 Richards St, Vancouver
Alda Lofts in Yaletown Vancouver - 1275 Hamilton St, Vancouver
Crosstown heritage loft building - 518 Beatty S, Vancouver
The Spot Lofts in Downtown Vancouver - 933 Seymour St, Vancouver
Tribeca Lofts in Yaletown Vancouver - 988 Richards St, Vancouver
McMasters Buliding - Lofts in Yaletown - 1180 Homer St, Vancouver
Sophia - Mount Pleasant Modern condos - 298 E. 11th Ave, Vancouver
The Edge lofts in Gastown Vancouver - 289 Alexander St, Vancouver
Artech Warehouse Lofts in Mount Pleasant - 336 E. 1st Ave, Vancouver
Loft 495 in South Granville/Mount Pleasant - 495 W. 6th, Vancouver
Van Horne in Gastown - 22 E. Cordova, Vancouver
Carrall Station in Gastown - 1 E. Cordova St, Vancouver
Crane Building - 540 Beatty in Crosstown - 546 Beatty St, Vancouver
Murchies Building in Yaletown - 1216 Homer St, Vancouver
Waterfall Building in False Creek - 1540 W. 2nd, Vancouver
The Grace in Yaletown - 499 Drake St, Vancouver
The Grace in Yaletown - 1280 Richards St, Vancouver
http://www.albrighton.ca/1111-alberni-st-shangrila-condos.html - Shangri La in Downtown - 1111 Alberni St, Vancouver
http://www.albrighton.ca/1128-w-georgia-st-shangrila-estates.html - Shangri-La in Coal Harbour - 1128 W. Georgia St, Vancouver
http://www.albrighton.ca/1277-melville-st-flatiron.html - Flatiron in Coal Harbour - 1277 Melville St, Vancouver
http://www.albrighton.ca/harbour-green-two-1139-w-cordova-st.html - Harbour Green II in Coal Harbour - 1139 W. Cordova St, Vancouver
http://www.albrighton.ca/the-qube-1333-w-georgia-st.html - The Qube in Coal Harbour - 1333 W. Georgia St, Vancouver |
Posted: 24-09-2009 under Vancouver Lofts |
| Vancouver lofts and architectural property. |
Properties that offer loft spaces or architectural design
Mount Pleasant near Main St. Lofts
# 203 2635 PRINCE EDWARD ST – “Soma Lofts” This unit is near Main, however the street it is on is nice, quiet, and not so industrial. This in East Mount Pleasant. This area is improving and is being redeveloped quickly. There are a few warehouse styled lofts in the area. These suites stand out for offering beautiful finish from polished concrete floors, ultra high ceilings, quality kitchens & bathrooms, and sliding wall/doors. These are prime “loft style condos”.
# 708 328 E 11TH AV - “Uno” This is right by Soma Lofts, and another architectural building with good values. This suite is a two bedroom which a bright good layout.
# 314 336 E 1ST AV – “Artech Lofts” This is a Warehouse style Mount Pleasant live/work loft building with great open layouts. This unit features concrete floors and some nice updates. It also has a North facing mountain view. This building is home to many artist live/work studios and home offices.
Vancouver East Loft
# 410 2001 WALL ST – “Canerry Row” - These are beautiful true double level lofts with great space. This unit is well priced as the past three loft sales at this building were between $345,000 to $365,000. This building is located out of the core of the city, in the industrial area, near Powell and the Bottom of Victoria Dr. This loft has great industrial northern views.
Gastown Loft
#202 36 WATER ST- “Terminus”, This is a new Gastown retro-fit building using the facade of a heritage hotel. These properties must be viewed to be appreciated, these units do not feel narrow as the ceilings are very high. The build finish and quality are amongst the best lofts in the city. All these units include parking. It is right in the character tourist area of Gastown.
Yaletown Loft
# 313 1275 HAMILTON ST - This is one of Yaletown’s best conversion buildings. It was designed by Alda Pierra, and the detail to attention clearly shows. This suite features high ceilings, original exposed timber beams, and very nice kitchen and bathroom finishing’s. I highly recommend this place. The strata fees are only $273/mn.
Westside Lofts
# 203 4387 W 10TH AV – “Roar One” http://mlslink.mlxchange.com/Pub/EmailView.asp?r=468319604&s=BRC&t=BRC I’ve included the listing and the older listing of this place so you can see as many photos as possible. This is a beautiful building in a great location in Point Grey. The design and attention to detail is very apparent. This place is right out of Dwell Magazine. This building ranks amongst the best loft boutique buildings in the city.
# 510 1529 W 6TH AV – “South Granville Lofts” These are highly desired lofts as they are located near Broadway and Granville. These suites are home to many business including hair salons. People really like them for their well built concrete construction and people can walk right up to the suites without having to be buzzed in. These were re-done in 2006, the developer still owns a few suites and should be releasing some units.
# 408 338 W 8TH AV – “Loft 338” This smaller loft building that looks like a warehouse conversion with metal cladding on the outside. This is a nice simple open space with over 800 sq.ft. This is in a great area full of new development and a new skytrain station. It is one block away from the main commuting route – W 9th or Broadway.
# 201 980 W 22ND AV – “Simon” This is a more quaint location near Oak St. This unit offers great space, and an outdoor patio. This area is located right near Shaughnessy.
# 302 428 W 8TH AV – “XL LOFTS” This is a nice architectural concrete loft building near the new developments in the Cambie area on W 8th. These units have nice exposed concrete, great layouts, and a very central location. This area is now home to many great new stores including Whole Foods, Best Buy, and Canadian Tire. This is 1 block from a Skytrain station.
Disclaimer The data relating to real estate on this web site comes in part from the MLS Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS Reciprocity logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board.
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Posted: 23-06-2009 under Vancouver Lofts |
| Great Vancouver lofts for sale under $500,000 |
See this descriptive article with neighboood information and links about some great Loft condos for sale in Vancouver under $500,000. http://www.albrighton.ca/blogs/2009/3/21/592-vancouvers-best-lofts-under-500000.html
Vancouver lofts by Paul Albrighton.
Vancouver Lofts
Vancouver's #1 real estate marketing for lofts
We specialize in Vancouver lofts and heritage style buildings located in Downtown, Yaletown, Mount Pleasant, Fairview, South Granville, Cambie, Kitsilano, Vancouver East, Gastown, and Crosstown. We provide the most comprehensive source for searching for lofts, and marketing lofts, loft style condos, and architectural property in Vancouver, BC. Feel free to contact us at 604 315 5574 or paul@albrighton.ca for more information on selling or buying a loft style condominium or townhouses in Vancouver. See our daily updated Vancouver loft blog. This blog features hot buys on the market, highlight loft buildings, and updates about the Vancouver LOFT market.
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Posted: 22-03-2009 under Vancouver Lofts |
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