Vancouver too expensive? Move to New West!

As real estate prices in Vancouver’s neighbourhoods escalated out of reach, Vancouverites looking to own their home are heading east.
New Westminster Realtor James Garbutt says he’s seeing more and more buyers looking at the city as an affordable alternative to Vancouver, but without giving up the amenities of city life. While $1.2 million might get you a tear-down on a small lot in East Van, in New West it can put you in a beautifully-renovated Craftsman heritage home that’s centrally-located close to schools, parks, shopping and transit.
The city’s condo market offers similar value, says Garbutt. “Let’s take your typical 2 bedroom, 2 bathroom condo in a newer concrete high-rise. Currently in Yaletown or False Creek you’re looking at $1,100/sqft.  In Burnaby’s Brentwood Park area you’re looking at $800/sqft , and in Downtown New West this figure goes down to $625/sqft.”
That value isn’t going unnoticed in Vancouver. In fact, says Garbutt, over the past year about 30 percent of visitors to open houses he’s conducted in New West are from Vancouver.  For detached homes in particular the number is much higher.
Garbutt recently sold a beautiful Craftsman style home at 903 Henley St, New West. Roughly 75% of the open house visitors came from Vancouver.  It achieved multiple offers, and the buyer was a young professional couple from Downtown Vancouver.
 

Vancouverites are moving to New Westminster
This Craftsman heritage home in New Westminster was recently sold by Realtor James Garbutt to a couple from Vancouver.

 
For detached, single-family homes in New Westminster sold in 2016, 51 per cent of the buyers’ agents were from Vancouver, suggesting their clients likely are as well, says Garbutt. For condos, 36 percent of the buyers’ agents were from Vancouver.
“In New West, our main sources of buyers are coming from more expensive markets, primarily Vancouver,” says Garbutt.
 

Who’s buying houses in New Westminster

Who's buying houses in New Westminster
Where buyers are coming from to buy houses in New Westminster

Who’s buying condos in New Westminster

Who's buying condos and townhouses in New Westminster
Where condo and townhouse buyers in New Westminster are coming from

 
New Westminster is no longer a secret, says Garbutt. “It’s centrally located. There’s a great sense of community and local pride that many other suburbs lack.  And, quite frankly, it’s the most affordable community to buy into that’s within 30 minutes of Downtown Vancouver.”
The city is undergoing a renaissance. After languishing through the 1990s as a marketplace for cheap street drugs peddled by Honduran dealers loitering around its SkyTrain stations, Downtown New West has come alive with new restaurants, with more on the way. At Eighth and Columbia Streets, the gleaming Anvil Centre has replaced a squalid block of cigar shops and temporary employment agencies. The western end of historic Front Street has been opened to the sky with the partial demolition of the old parkade. The waterfront has been enlivened by Pier Park and the River Market.
The historic Queen’s Park neighbourhood abounds with lovingly-restored family heritage homes along quiet, leafy streets, and the Sapperton area surrounding Royal Columbian Hospital is alive with young families attracted to its affordable, smaller detached houses and new condo developments.
 
The leafy streets and lovingly-restored heritage homes of New Westminster’s Queen’s Park neighbourhood.

 
Progressive businesses like Steel & Oak Brewing Co.Brick + MortarEl Santo and 100 Braid St. Studios actively promote the city far and wide on social media using the hashtags #newwest or #theroyalcity, which have more than 130,000 posts on Instagram combined.
To preserve the city’s historic identity, City Hall is taking steps to implement historic design guidelines in neighbourhoods like Queen’s Park. The City works with developers to maintain historic building facades, like the Trapp & Holbrook and the Freemasons Hall, which is currently being transformed into a new residential development.
 
Vancouverites are attracted to New West
The City is working with developers like Robert Fung to preserve historic facades such as the Trapp + Holbrook condo tower on Columbia Street.

Vancouverites are buying in New West.
An architect’s rendering of a new residential development being built behind the preserved facade of the New Westminster Mason’s Hall on Agnes Street.

 
With the pressures of growth, New West is looking at finalizing a new Official Community Plan in June (check out the 25 year vision at: OUR CITY 2041), that will introduce higher density in certain neighbourhoods and laneway houses throughout the city.
The city is growing conservatively without losing its identity, says Garbutt. It’s being proactive about managing that growth. That’s attracting new businesses and new residents. Especially from Vancouver.
 

The Austin in Coquitlam – Coming Soon by Beedie Living

Rising a dramatic 19-storeys and surrounded by mature trees, estate homes and next to the private Vancouver Golf Club, these 133 homes will offer unparalleled 360 degree views from the 5th floor and above.
Ranging from Junior 1 bedrooms to the spacious, well-appointed penthouses of “The Heights Collection”, all homes will include efficient layouts, oversized windows, warm laminate flooring, quartz countertops, gourmet kitchens with stainless steel appliances, and most homes feature 2 outdoor living spaces.
Jr 1 Bedrooms from the $190’s
1 Bedrooms from the $260’s
2 Bedrooms from the $340’s
Townhomes from the $500’s
Important Information:
20% deposit with $5,000 due at time of offer, increased to 5% after 7 days.
1 parking stall included with every home. For “The Heights Collection” and the 3 bedroom townhomes, 2 stalls will be included.
1 storage locker included with every home.
Amenities include a fully integrated gym/yoga room, dynamic multi-purpose lounge with wet bar, guest suite and landscaped outdoor terrace with children’s playground, BBQ area and outdoor ‘living room’
Tentative completion is Spring 2014
Visit theaustin.ca to view floorplans.

#33 245 Francis Way, New Westminster

Virtual Tour – #33 245 Francis Way, New Westminster

GLENBROOK AT VICTORIA HILL by ONNI. This Outstanding  1724 sqft 3 bed, 2.5 bath END UNIT Townhome is very privately situated at the back of the complex.GORGEOUS River & Mountain VIEWS. This impressive home features high ceilings on the main,new carpet, hardwood & lam. floors, beautiful kitchen cabinets, granite counters,stainless steel appliances, 3 decks, backard, spacious master bedroom w/large walk-in closet & luxurious ensuite, 2 car tandem garage + Bonus Media Room. FULL RAINSCREEN, remainder of 5-10 yr. warranty. LOW Maint Fees include: Outstanding Amenities at the “Broiler Room” Excercise Centre, Theatre Room, Study Area, Basketball Court, Lounge w/pool table. Excellent location. near Queens Parks, shopping, Transportation.

MORE INFO:

http://mlsr.realtylink.org/mlsr_get/res_sale_result_detail.cfm?comID=&agentID=52438&searchtype=both&CID=1180398&TMPL=1&MLS=V921962

"The Brewery District" in New Westminster

The Brewery District - New Westminster Condos
Centrally located at the Sapperton SkyTrain Station, in one of New Westminster’s oldest urban communities and overlooking the Fraser River, The Brewery District will unite today’s most progressive, sustainable place-building ideas with yesterday’s sense of historical relevance and community.
Pick up fresh produce. Meet friends for coffee. Soak up the views. At The Brewery District, everything you need from great shopping to beautiful public areas to lively cafes – is right outside your door.
On completion, 600 – 750 well-priced, high quality condominiums, lofts, and live/work spaces will feature modern, urban design with tribute to its industrial roots that maximizes usable space while supporting healthy, sustainable living that takes the focus off the car.
The Brewery District will comprise of five key offerings:
• NewWork – Office space for lease
• NewMarket – Retail space for lease
• NewHealth Health space for lease
• NewHome – Residential units for sale
• Strata Office Health office space for sale
Moving forward, planned anchor amenities include a brand name grocery store, national pharmacy, national bank, and a historic brew pub that will reference the site’s long standing legacy of brewery operations. The nine-acre master-planned site will also provide access to a wide variety of professional services, specialty retailers and restaurants, as well as key amenities such as a daycare and health services campus.
At the same time, a bright and welcoming SkyTrain arrivals area, public plazas, greenways, view decks and a central community green will encourage people to congregate and linger, positioning The Brewery District to become a welcoming, vibrant community gathering place.
For more info visit www.thebrewerydistrict.ca