Other
Archive for September, 2007
A fine stop for English-y fare
Thursday, September 13th, 2007Fish and chip-o-philes eagerly fill up at this North Vancouver eatery
Mia Stainsby
Sun
Kim Willcocks (left) and her mom Violet McArthur enjoy fish and chips served by Ron Lee at C-Lovers Fish and Chips. It’s part of a franchise with some six restaurants scattered throughout the Lower Mainland. Photograph by : Stuart Davis, Vancouver Sun
I’m good at stomping on my brakes when faced with big helpings of deep-fried foods and that would include the fish part of fish and chips. The good-girl part of me peels away the batter to get at the lean fish. As for the chips part, all right! I admit I’m not entirely immune to gobbling up big platters of them. Who is?
I know there are fish and chip lovers out there who know that with fat, comes flavour; so for them, I did this — went and tried C-Lovers Fish and Chips in North Vancouver, which I’ve heard is a good family stop for the English-y fare.
It’s part of a franchise with some six restaurants scattered throughout the Lower Mainland. I’ve only been to this one in North Vancouver and found both the fish and the chips quite delicious. The chips are not the industrial, frozen variety. Staff peel and cut the potatoes every day and cook them into crisp, golden sticks. And yes, I gobbled them up. They use halibut and haddock for the fish and you can have one or two pieces; you can also have fish without fries, but what’s the fun in that?
There are prawn and oyster dishes as well but most people go for the fish and chips. The true believers can go for all-you-can-eat fish and chips, where for $9.95, you get started with six small pieces of fish and chips and proceed to as many more plates as you wish. Fish and chip-o-philes, apparently, are a restrained lot, as at this location anyway, guests normally don’t go beyond two plates. (The all-you-can-eat offer is good between lunch and 3:30 from Tuesday to Saturday and from lunch to 7 p.m. on Sunday, Monday, and Tuesday.
And no surpise, they get a lot of Brits. “Any of our regulars who are British love fish and chips and whenever they have family from Great Britain, they bring them here,” says assistant manager John Loucks.
Expect to pay $7 to $11 for a fish and chip dinner, depending on portions.
C-LOVERS FISH AND CHIPS
1660 Pemberton Ave., North Vancouver, 604-980-9993. Open for lunch and dinner, daily.
© The Vancouver Sun 2007
Restaurant puts new spin on Latin cuisine
Thursday, September 13th, 2007Billing itself as ‘nuevo Latino,’ new Gastown eatery uses traditional spices, ingredients, while giving them a unique twist
Linda Bates
Sun
Stuart Irving, executive chef and owner of Cobre, holds up handfuls of hot red peppers before adding them to some of his ‘nuevo Latino’ dishes. At his new Gastown restaurant, Irving has come up with his own interpretations of Latin American-influenced fare, while still using traditional ingredients. VANCOUVER SUN PHOTO
Cosmopolitan Vancouverites have been travelling to South American countries like Peru, Equador, Argentina and Brazil and returning home with a taste for the food and drink of these locales, only to find out few restaurants in the city offer such fare.
However, other North American cities are discovering this culinary bounty. In Portland, the Peruvian restaurant Andina has won multiple awards. In Seattle, Mixteca (co-owned by Vancouver Latin Quarter’s Oscar Acosta) is bringing the haute cuisine of Peru to that city, with rave reviews.
Now, finally, at the new Gastown restaurant Cobre, the pisco sours are flowing and the likes of ceviche, empanadas and dulce de leche are on the menu.
This is not to say that Cobre, which bills itself as “nuevo Latino,” is presenting the traditional cuisine of any country. Executive chef/owner Stuart Irving, has come up with his own interpretation of the dishes — just as he did in his wildly popular previous restaurant, Wild Rice — making use of traditional spices and ingredients while giving them his own creative spin.
Irving and his partners Tyson Reimer (general manager) and Jason Kelly (beverage director) have created an elegant, sophisticated space in this Gastown heritage building, with exposed brick walls, slate floors and copper accents on the walls and ceilings.
I was initially wary — would this be one of those super-chic new lounge/tapas bars where someone over 40 years old and 110 pounds feels out of place? Or where you pay $60 for a diminutive portion?
I needn’t have worried. Diners included many families and even extended families, and the atmosphere was relaxed and friendly. We ended up having a pleasant visit with the young couple at the next table, whose three-month-old daughter seemed entranced by all around her. Dishes, served tapas-style, are large enough that three or four (in the range of $12 each) are plenty for two.
We started with a surprise appetizer not on the menu. My dining companion had brought some zucchini from her garden for me, and as a lark, she gave one to the chef — who sent it back to our table, transformed into tiny zucchini tacos.
With that charming start we were set to like all our dishes, and we did. The scallops in the ceviche were sliced, not diced, and came with a jicama salad that set off the tartness of the fish.
Our chicken mole empanada was, once again, not like any empanada we’d seen, with the mole sauce inside the shell. The pineapple salsa was the perfect complement. An Ecuadorean quinoa salad with oranges, Brazil nuts and organic greens gave us our greens and contrasted nicely to our last dish, a flash-seared skirt steak with a peppercorn rub, combined with mashed potatoes with chorizo.
We wished we’d saved more room for dessert: it’s rare to find dulce de leche, a sort of caramelized sweet milk with fruit, on any menu, and my rich, creamy chocolate mousse with churros was the best I’ve ever had, the chocolate set off with a hint of hot pepper.
Don’t be intimidated by all the Spanish terms. Irving, who says he didn’t want to “English up” the menu too much, provides a glossary. It might sound like homework, but once you’ve tasted the flavours, you’ll want to know more about them.
The menu includes several types of South American cocktails and liqueurs, as well as more well-known ones like martinis, and a respectable wine list, all at reasonable prices.
Servers were friendly and attentive.
– – –
COBRE
Overall: 4
Food: 4
Ambience: 4
Service: 3 1/2
Price: $$
52 Powell St., 604-669-2396, Open daily 5 p.m. to “late,” www.cobrerestaurant.com
Restaurant visits are conducted anonymously and interviews are done by phone. Restaurants are rated out of five stars.
© The Vancouver Sun 2007
East-side story: Condo prices up
Thursday, September 13th, 2007Sun
Owners of condos on Vancouver‘s east side saw the biggest percentage increase in bench-mark price (the price of a condo typical of that area) in the Real Estate Board of Greater Vancouver’s region when comparing August of this year to the same month in 2006.
© The Vancouver Sun 2007
No break seen in rise of condo prices
Thursday, September 13th, 2007Boomers leaving empty nests and first-time homebuyers fuel increases
Sun
Growing demand from boomers over age 55 leaving their “empty nests” for smaller homes, combined with first-time buyers looking for affordable housing alternatives, will keep the price of condos in the Vancouver and Victoria regions going up over the next several years, a new report shows.
“The growing number of residents who are 55 and over will provide a solid demographic underpinning to the health of condo markets in British Columbia‘s two largest cities,” Genworth Financial Canada said Wednesday in a release accompanying its report, Summer 2007 Metropolitan Condominium Outlook.
The outlook forecasts condominium prices in Vancouver and Victoria regions will post average annual increases of about 3.8 per cent and 3.5 per cent, respectively, from 2008 to 2011.
Metro Vancouver‘s average resale condo price is forecast to rise from $314,471 in 2007 to $365,491 by 2011. In the Victoria area, resale condo prices are expected to climb from $264,471 in 2007 to $302,603 in 2011.
At 30 per cent, Victoria has the highest proportion of boomers per capita of the eight cities covered in the report, while boomers make up nearly one quarter of Vancouver‘s population.
“These cities historically have attracted individuals over age 55. With their favourable climates and natural beauty, both are desirable places to retire,” Peter Vukanovich, president of Genworth Financial Canada, said in the release.
“In the past decade alone, Victoria‘s over-55 population has risen nearly 22 per cent, while Vancouver had a dramatic 37-per-cent increase. This target demographic for condominium apartments will help maintain demand in the region and ensure steady price growth.”
“Condos have traditionally been the entry point for first-time homebuyers and we continue to see that in major urban centres,” said Bob Finnigan, president of the Building Industry and Land Development Association.
“But we’re also seeing a clear trend among downsizing baby boomers who are looking for convenience, security and the ability to enjoy their retirement living in a condo where they can walk to restaurants and shopping, transit, and enjoy a new lifestyle.”
But boomers and first-time buyers may not be competing directly for exactly the same condos, according to Cameron Muir, chief economist for the B.C. Real Estate Association.
“I think when we look at the market for the adult lifestyler, it will likely be more on the luxury side,” Muir said in an interview Wednesday. “We have yet to see any significant evidence of retirees or boomers that are going to retire having an impact on the low end of the condominium market.
“That’s not to say it won’t happen, but we haven’t seen any evidence of that yet.”
And as Genworth’s Vukanovich points out, first-time buyers could even take some comfort in a condo market bolstered by the boomers.
“The record number of baby boomers will help maintain demand for condos in markets across the country, keeping price growth steady. That will benefit first-time homebuyers, who otherwise might worry about their investment in a future condo downturn,” Vukanovich said.
© The Vancouver Sun 2007
It takes 71% of household income to buy a bungalow
Thursday, September 13th, 2007Mortgage rates, price gains erode Vancouver affordability
Michael Kane
Sun
A zero down payment was what got Sean and Anna Carter, their baby Jake and Zoe, into their condo in Port Moody. Photograph by : Steve Bosch, Vancouver Sun
British Columbia‘s already prohibitive housing affordability levels deteriorated even further during the second quarter of 2007, the Royal Bank said Wednesday.
It is part of a countrywide slide — the largest and most broad-based since the mid-1990s — driven by a combination of higher house prices, mortgage rates, utilities and property taxes.
Yet despite requiring more household income to buy a home, record sales were recorded across the province over the summer, said Cameron Muir, chief economist with the BC Real Estate Association.
That has a lot to do with boomers who are taking equity from their principal residences to buy investment property, or recreational properties that are potential retirement residences, Muir said in an interview.
There are also buyers like teacher Sean Carter, 41, who thought the market had passed him by until a 40-year mortgage through Vancouver mortgage brokers Invis allowed him to stop renting and get into a Port Moody townhouse with zero down.
The plan is to accelerate payments after five years when wife, Anna, 38, can return to work, and children, Zoe, 3, and Jake, 1, will be in school, Carter said in an interview. The couple spent many years working with youth in outdoor education, which is not high-paying, and have also each invested in earning a master’s degree, which eroded their savings.
The RBC affordability index measures the proportion of pre-tax household income needed to service the costs of owning a home. The higher the reading, the more costly it is to afford a home.
Across B.C., a standard two-storey home stands at 68 per cent, followed by a detached bungalow at 65 per cent, a standard townhouse at 48 per cent, and a standard condo at 34 per cent.
In Vancouver, rising mortgage rates and price gains eroded affordability in all segments, although the annual pace of house price gains has slowed from the 18-20 per cent range to 10 to 12 per cent, said RBC economist Derek Holt.
On the affordability index for cities, a detached bungalow costs 71 per cent of household income in Vancouver, compared to 45 per cent in both Toronto and Calgary, 36 per cent in Montreal, and 31 per cent in Ottawa.
In other Vancouver categories, a standard-two storey home stands at 73 per cent, a standard townhouse at 51 per cent, and a standard condo at 35.5 per cent, up from 33 during the previous quarter.
“Even though trends for Vancouver are shifting to a slower pace and moving toward moderation, the near-term result is another hit to already stretched affordability conditions,” Holt said.
For example, an average mortgage payment on a two-storey home in Vancouver is $3,230 a month. Extending that mortgage from a 25-year term to a 40-year term reduces the monthly payment by roughly $400.
According to RBC, affordability eroded in the second quarter in every single housing class, in every province and in every major city across Canada.
While Vancouver remains the country’s most expensive real estate market, the largest affordability slides over the last couple of years have been suffered by Saskatoon, Edmonton and Calgary.
Alberta is still, however, avoiding British Columbia‘s stressed affordability conditions, Holt said.
Muir noted first-time buyers in B.C. typically purchase condos, which “are still very much affordable” for those with average incomes.
“The single detached home with the large lawn is increasingly becoming out of reach for first-time buyers and, if aspired to, will take a couple of home movements over time to achieve.”
© The Vancouver Sun 2007
Vancouver least affordable
Thursday, September 13th, 2007Simple bungalow now gobbles up 71 per cent of income
Anne Howland
Province
Despite the city’s efforts at so-called ecodensity, such as this development in Strathcona, Vancouver housing is the least affordable in Canada. NIC PROCAYLO FILE PHOTO – THE PROVINCE
OTTAWA — The cost of owning a home in Canada is getting a lot more expensive in every housing type, every province and every major city — and that’s putting a bigger squeeze on household budgets.
A report released yesterday by RBC Economics shows that home-ownership costs continued to climb steadily in the second quarter of 2007, eroding affordability for condos, townhouses, detached bungalows and two-storey homes.
“In the second quarter, Canada‘s housing affordability experienced one of the largest and most broadly based quarterly deteriorations since the mid-1990s,” said Derek Holt, assistant chief economist with RBC. “Higher house prices, mortgage rates, utilities and property taxes all combined to drive the countrywide deterioration.”
The affordability report measures the proportion of pretax household income needed to pay the costs of owning a home.
The standard condo remained the most affordable during the quarter, at about 29 per cent of income. A standard townhouse followed at 33 per cent, a detached bungalow at 41 per cent and a standard two-storey home was the least affordable at 46 per cent, the report said.
The affordability measure for a detached bungalow in Vancouver was 71 per cent; Toronto, 45 per cent; Calgary, 45 per cent; Montreal, 36 per cent; and Ottawa, 31 per cent.
“Allocating more than 35 per cent of the paycheque to housing is akin to squeezing the blood supply,” said Adrian Mastracci, portfolio manager with KCM Wealth Management Inc. “First-timers are painfully aware of the costs of affording even a starter condominium.”
Laurie Campbell, executive director of Credit Canada, said devoting about 30 per cent of pretax income to housing costs is comfortable for most people.
“Many people are house-poor because they want the Canadian dream of homeownership,” she said.
Cal Lindberg, president-elect with the Canadian Real Estate Association, said many Canadians have taken on bigger mortgages because of the strength of the housing market.
“I’m sure that there are a lot of people that are stretched just trying to get in or to move up to that bigger house or the house with a view,” he said, adding it is incumbent on both buyers and lenders to remain cautious.
© The Vancouver Province 2007
Yaletown park to become party zone
Thursday, September 13th, 2007Damian Inwood
Province
Yaletown’s David Lam Park will be transformed into a 2010 party plaza as part of Vancouver‘s $23-million Olympic “live-site” program.
And about 1.6 million people are expected to attend two downtown Vancouver Winter Games plazas, says a report going to city council Tuesday.
David Lam Park and the old bus depot site at Georgia and Beatty streets will be alcohol-free zones with big-screen TVs, entertainment stages, food outlets and sponsor villages, says the report.
But officials admit the neighbourhood could face noise and disruption. “There will be a lot of . . . impacts on daycare facilities, schools, businesses and the movement of goods that will occur, as well as noise and so forth,” said Dave Rudberg, the city’s Olympic co-ordinator yesterday. “These are all issues to be worked out with the residents and the business owners as we go forward.”
The two plazas will be linked by a “historic trail” along Hamilton and Mainland streets and will be open from 11 a.m. to 11 p.m. during the 17-day Games, says the report.
The Beatty Street site will have a capacity of 10,000, with up to 13,000 at David Lam Park.
City taxpayers will pay $5 million toward the project, with a further $10 million coming from the federal government.
Another $5.9 million will come from merchandising, food and beverage licensing and rentals.
Both venues will have a fenced security perimeter and gates will have airport-style bag-screening devices.
The live sites will have 24-hour remote video-surveillance cameras, closed-circuit monitoring, and surrounding streets will also have video surveillance, says the report.
“We have to plan for a high level of security and, hopefully, we won’t need as much as we plan for,” said Rudberg.
Council will be asked to approve $200,000 to draw up a detailed plan due early next year.
Salvatore Gallo, who co-owns Yaletown Gelato and Espresso Bar, said he won’t be bothered by the upheaval.
“I like the buzz you get from a lot of people,” said Gallo, who has lived at Homer and Davie for 10 years and who walks his dog at David Lam Park. “We have the jazz festival there every year.”
But he said street closures could get annoying and parking will be “hell.”
Annette O’Shea, executive director of the Yaletown Business Improvement Association, was delighted by the news.
“We are very excited,” she said. “Yaletown has been looking at ways of getting involved with the Olympics and this puts us right in the middle of it.”
She said the neighbourhood stages the one-day Yaletown Street Party every year, which attracts between 40,000 and 60,000 people.
“We’re seeing the Olympics as an opportunity to have 17 street parties in a row in February 2010,” she said. “When you bring in 40,000 to 60,000 people to play, everyone wins — restaurants, bars, residents and school kids.”
© The Vancouver Province 2007
Coping with GVRD housing crunch is getting to be a major headache
Monday, September 10th, 2007Derek Moscato
Province
Cranes in Vancouver typify the feverish pace of Lower Mainland construction and the economic boom that has fuelled it. Many residents, though, face stiff increases in housing costs. – BLOOMBERG NEWS
The word is out: Property in Vancouver is overpriced. Way overpriced.
And not just by Canadian standards, it seems. We actually outdo New York, London and Tokyo, to name a few pricey metropolises.
This may come as a surprise to local housing cheerleaders, who insist that paying a half-million bucks for a shoebox condo in the sky is a good deal — in light of our terrific scenery, hopping restaurant scene and sizzling economy.
But according to a recent report published by Forbes Magazine, this is the sixth most overpriced real-estate market in the world, putting us in the same league as Monaco, Rome, Paris and L.A.
That’s good news for those selling into the current Lower Mainland housing mania. But it’s a big downer for almost everybody else.
Aspiring buyers who flinch at soaring prices can only dream about home ownership in these parts.
Some are forced to put their lives in limbo — delaying marriage, having kids or simply moving out of their parents’ homes — while they wait for their shot at a modest townhome or condo in Lotus Land.
And they can forget about the house with the back yard and white picket fence. The benchmark price for a detached home in the Greater Vancouver Regional District is over $725,000.
It’s not uncommon to see an abandoned crackhouse in a good location sell for even more. The nosebleed prices are driving would-be owners to the rental market, which is facing a big squeeze of its own.
According to the Tenant Resource & Advisory Centre, Greater Vancouver renters are dealing with fast-rising prices and a vacancy rate of less than one per cent.
And those forced out of their apartments due to condo conversions, building renovations, growing families or even evictions, are finding they have nowhere to go.
Pickings are slim, and bidding wars are now common, in which future tenants beg or bribe their way into that perfect flat in Kitsilano, Yaletown or even the suburbs. The situation is even more grim for folks with kids or pets — the unofficial outcasts of the rental market — trying to find a place of their own.
Not surprisingly, some homeowners, high on paper profits, feel reason to be smug. They shouldn’t.
With a sizzling economy and the 2010 Winter Olympics building frenzy upon us, our government is rolling out the welcome mat for out-of-towners who can fill the surge of local job openings.
But how are we going to recruit working folks to staff our construction sites, hospitals, hotels, shops and offices, if we can’t give them a decent place to call home?
No surprise, then, that some of these mobile workers are starting to choose Ontario, Alberta and even the U.S. over the idyllic West Coast.
So while we woo outsiders with this province’s “Best Place On Earth” moniker, we should also make sure they’re reading the fine print: Finding affordable accommodation in Metro Vancouver can be a headache — of major-league proportions.
© The Vancouver Province 2007
