Archive for May, 2009

Mount Pleasant an eclectic mix of new and old, quirky and solid

Saturday, May 9th, 2009

Oldest home outside downtown, unique shops among attractions

Michael Sasges
Sun

Veronika Baspaly in the Lark store: ‘Some people think the evolution of the area is too slow; some don’t like to see change at all.’ Photograph by: Bill Keay, Vancouver Sun

At city hall, Vancouver‘s Mount Pleasant neighbourhood is ”one of the most diverse communities in the city” and an ”eclectic mix of new and old homes, industry, educational facilities and artist live/work studios.”

The oldest single-family-detached residence in the city outside of the downtown is located there. It was built in 1889.

For Krista Shirreff, organizer of the Block sales and marketing campaign and a Mount Pleasant resident, the neighbourhood is singular. ”It is a totally emerging, hip, authentic neighbourhood that has a very distinct character. It’s not a cookie-cutter neighbourhood.”

The neighbourhood’s western boundary is Cambie Street; it’s eastern boundary, Clark Drive. To the north, Great Northern Way and Second Avenue are the boundaries; to the south, Kingsway and 16th Avenue

In the just released Wallpaper* City Guide: Vancouver, Mount Pleasant is “South Main,” or SoMa, and “quirky,” but “moving upmarket as condos and fashion stores spring up.”

The oldest commercial building in the city outside the downtown is located there. It was built in 1892.

For Veronika Baspaly, Mount Pleasant is both the neighbourhood in which she makes her home and operates her business.

With her husband, Baspaly is the owner of the Lark clothing and accessories store, for men and women, a ”singular experience of chic” in the opinion of the Wallpaper* guide.

Baspaly has operated the store for more than four years, the last two from its current Main Street location. What follows are some of her thoughts on her ‘hood.

– – –

Q Why is Lark located in Mount Pleasant rather than another Vancouver neighbourhood?

A The diversity of the area was really interesting to us. Many of our friends live in Mount Pleasant and some of them have businesses as well and to be a part of that community seemed like a charmed life. Five years ago when we were drafting our business plan we thought about other neighbourhoods in Vancouver and we didn’t see ourselves fitting into those communities very well. At that time rent in this area wasn’t too high and there seemed to be a lot of growth happening fairly quickly. So we thought we’d put our roots down in an area that was evolving in many different ways.

Q What is keeping Lark in the neighbourhood?

A That’s a complicated question to answer briefly. Being this close to the Olympic Village is exciting: it means that the world will be watching and also visiting in February. We have really great landlords which is very rare in Vancouver. They own the AION art gallery which is now located on East 15th. It’s great to have people who care about their property as landlords. This neighbourhood is our home so leaving it would be uprooting our lives, not just our business.

Q Are Lark’s customers mainly your neighbours?

A Many of our best customers live in other areas. Lark is a destination for them. Vancouver is small and what we do here is so niche that not everyone understands our inspirations. Those who do understand are willing to travel to get to us.

Q What do visitors to the store who are your neighbours say to you about their neighbourhood?

A I find that as diverse as the people who live here are, their opinions are also as diverse. I hear people speak very positively about the area and the new businesses opening. Some people think the evolution of the area is too slow; some don’t like to see change at all.

Q Is there a moment or an experience inside or outside the store that exemplifies, for you, the Mount Pleasant “sensibility” or spirit?

A When my husband and I got Hunter, our English bulldog, we took her to Antisocial, the skate shop half a block up from Lark, and Michelle, the owner, pulled out a skateboard for her to ride. Michelle took pictures and posted them on her store website. The sense of togetherness among many of the business owners is amazing. We look after one another, no matter how different we are or how little we appear to have in common.

Q Why are there so many retailers of singular, or unique, clothing and accessories on Main Street?

A Main Street is one of the few areas that has smaller commercial spaces unsuitable for chains and box stores, but perfect for specialty shops that are very niche. Unlike many of the other areas in Vancouver that have this benefit, Mount Pleasant also has a history of community. It was strongest 20 years ago when the “Shame the John’s” campaign was started by local residents and businesses to counter the emergence of prostitution and drugs in the area. The Mount Pleasant business association was formed to create a link to city hall and also to make sure that the social problems that were turning the neighbourhood dangerous would not return. The evolution of this neighbourhood has brought it back to its roots which were that of a family friendly and small-business friendly community.

Q Why are there so many coffee shops along Main Street? And do you have a favourite?

A The real answer lies in antiquated liquor laws. Most cities have streets lined with pubs, lounges, bars, clubs, cafes, restaurants all serving alcohol in a responsible and adult way. In Vancouver the licensing is so strict that opening anything except a café is nearly impossible. Before the concept for Lark came about we tried to open a cocktail bar in Mount Pleasant. I am now well schooled in the inner workings of city hall. It’s such a shame because it really does stunt the city from flourishing in many ways.

I like the coffee at Gene Café. The espresso is strong and has a nice rich cream. In my opinion it’s the best coffee in the city. I like the patio and coffee at JJBean, and the service is super fast.

Q Lastly, what do you want Vancouver Sun readers to know about Mount Pleasant?

A I want them to know that this area has so much Vancouver history. It’s the first suburb, it’s been through many eras of prosperity and neglect. It’s on the rise of prosperity again and with the attentiveness of its caretakers, residents and business owners, it will only get better. Because it has always lived under the radar of the mainstream and big business it has been allowed to develop its very own character that is actually influenced by everyone that lives and works in it. It’s nice to be in a place where everyone does actually matter.

Readers who want to know more about Mount Pleasant‘s history will enjoy a city hall publication, Mount Pleasant Historic Context Statement, available at vancouver.ca on the Internet.

© Copyright (c) The Vancouver Sun

 

Developer defends Shaughnessy townhouse plan

Friday, May 8th, 2009

Arthur Bell Holdings Ltd. says resident concern ‘overblown’

Lisa Smedman
Van. Courier

Architect James Bussey says the Shaughnessy townhouses will be flat-roofed Georgian-style buildings. Dan Toulgoet

A developer who’s putting up 15 townhouses on a Shaughnessy property at the corner of Granville Street and McRae Avenue says he wishes the “smear campaign” against the project would stop.

“People have a genuine concern for Shaughnessy, and I appreciate that,” Brian Bell of Arthur Bell Holdings Ltd. said “I’m a resident of the neighbourhood as well.”

But the anti-townhouse campaign, he added, is both “overblown” and “out of proportion.”

“To say that this is going to be the ruination of Shaughnessy is a gross misrepresentation of what we’re trying to do here,” Bell said.

The development involves 2.3 acres at the southeast corner of Granville Street and West 16th Avenue, across from Hycroft Towers. It would see 11 townhouses erected in a curve stretching around the northwest corner of the property, at McRae and Granville streets, and another five townhouses closer to the Nichol House, which dates to 1913. In return, the A-listed heritage home would be protected by a heritage revitalization agreement that would prohibit alternations to the exterior of the home.

Architect James Bussey of Formwerks said the townhouses will be flat-roofed Georgian-style buildings, with plenty of landscaping and eco-friendly features like geothermal heating, and “green” appliances and plumbing. The buildings will be finished in “enduring” materials such as stone and brick. The 41 parking spaces will be underground, with access from McRae Avenue.

“We provided roughly double what the parking requirements would be to ensure there would be no impact on the neighbourhood,” said Bussey said.

A portion of the property has already been rezoned, subject to the final details of a development permit.

The project has received intense criticism from members of the Shaughnessy Heights Property Owners’ Association, who say it will destroy the single-family character of the neighbourhood, increase traffic, and cause the loss of mature trees. SHPOA has erected dozens of signs on Granville Street and in Shaughnessy opposing the project.

Bell said he understands change can be “upsetting,” particularly when it involves a property that’s sat vacant for 100 years and on which trees have grown. He added it’s “unreasonable” to expect the site would never be developed, but asks whether it makes more sense to erect a single “mega-home” on the lot.

“Is that a better use of the property in today’s day and age?” Bell asked. “I don’t think so… We have to try and make better use of dwindling land which is available to us.”

Bell, who’s lived in Shaughnessy for 27 years, said he faced a similar outcry to an infill housing development of his a decade ago near Macdonald Street and West 45th Avenue.

Angela Woo, president of SHPOA and prominent in the campaign against the townhouse project, is his neighbour. “I’m trying to do my best to do a quality development… because I’m going to drive by that site every day for the rest of my life, likely, too,” he said.

Bell hopes to start work on the townhouses this fall. Construction could take 18 months.

© Vancouver Courier 2009

Western Union buys Victoria’s Custom House

Friday, May 8th, 2009

Payment company sold for $370 million

Carla Wilson
Sun

Peter Gustavson outside the Custom House Currency Exchange in Victoria’s Bastion Square. Photograph by: John Mckay, Canwest News Service

Global payments company Custom House Ltd. of Victoria is being sold for $370 million US to Colorado-based Western Union.

Set to close this summer, the huge deal surpasses even the sale of Victoria-based Thrifty Food chain, Vancouver Island‘s largest private-sector employer, to Sobeys of Nova Scotia for $260 million two years ago.

Plans call for Custom House, which employs 150 in Victoria and another 630 employees in various countries, to continue running under its existing management in Canada, Western Union said.

Christina Gold, Western Union president and CEO, called Custom House a “dynamic business” with a significant customer base in the cross-border payments market.

The firm has a network of trading offices and operates around the clock daily. Payments can be made in more than 120 countries. Revenue is generated mainly from senders in Canada, the U.S., the U.K., Italy, Singapore and New Zealand.

Founder and chairman Peter Gustavson, who will no longer be involved with the company once the sale is complete, said he expects staff levels to grow under Western Union.

“I’m both excited and a little bit sad that I won’t be able to participate in the next phase of Custom House’s growth,” Gustavson said Thursday. “I’m sure that after a little bit of rest I’ll be back in, looking at something in financial services. … It will be a lot more fun starting a business with money this time.”

Gustavson began the company 17 years ago as a currency exchange in a retail space in the Custom House building at Government and Wharf Streets in Victoria, taking the building’s name to bring an official tone to the venture.

It moved to providing service over the phone, and then over the Internet.

“Then we became a global payment facilitator. Really, we just keep evolving and trying to stay one step ahead of the competition,” said Gustavson, who co-owns Custom House with Great Hill Partners of Boston, which holds 28.5 per cent.

The company now has close to 40,000 customers internationally, and its buyer said it is on track to generate $100 million US in annual revenue.

Gustavson said the company never grew less than 20 per cent in a year. “We kept challenging the status quo. Even though we had a successful business, we kept looking for the next big thing.”

Custom House has two main platforms, one for individuals and small business, the other for larger companies, he said. About 45 computer programmers are continually adding new functions.

“You want to stay ahead of the curve. You want to add new bells and whistles to make your product more attractive than your competitors’. If you don’t do that in business, eventually somebody is going to lap you, and you are going to end up being beaten in the marketplace.”

Recent global financial problems have led to skyrocketing sales since October, he said. “Our major competitors in the world are the banks. And the banks, for the most part, are on their back heels . . . giving us a big opportunity to grow our business.”

As the business grew, some people urged Gustavson to move to a centre such as Toronto or New York, but he resisted the idea. “In reality, Victoria has been the perfect place to build a financial-services business. It has a very skilled workforce, and it really didn’t matter where on the planet we were located.”

© Copyright (c) The Vancouver Sun

Custom House sale deal

Friday, May 8th, 2009

Western Union pays $370m for B.C. company

Carla Wilson
Province

Custom House Ltd., a leading global payments company based in Victoria, is being sold to Western Union for $370 million US.

The deal is expected to close in the third quarter of this year.

Founded 17 years ago by Peter Gustavson, it has almost 40,000 customers internationally and 630 employees worldwide. It facilitates payments between small- and medium-sized firms.

In 2006, Great Hill Partners of Boston made a “substantial equity investment” in Custom House and is a co-owner.

“We are extraordinarily proud of what the Custom House team has accomplished as an independent company and are excited about the increased potential that will come from leveraging our collective resources,” Gustavson said yesterday.

Custom House has a global network of trading offices and runs around the clock seven days a week. Customers can make payments in person or online.

It has trading offices in North American, Europe and Asia. Payments can be made through the company in more than 120 countries.

Said Christina Gold, president and CEO of the Greenwood Village, Colo.-based Western Union: “Custom House is a dynamic business and has a significant customer based in the cross-border payments market, which generates strong margins and cash flow.

Plans call for Custom House to continue running under existing management in Canada, Western Union said.

© Copyright (c) The Province

A gem of a sushi joint focuses on quality

Thursday, May 7th, 2009

Takumi hopes to succeed at a location that has not been kind to its predecessors

Mia Stainsby
Sun

At Takumi restaurant in West Vancouver, Takumi Akaike holds lobster tail tempura (with spicy creamy fusion sauce) while his father Tadashi (in the background) has prepared deluxe assorted sushi. Photograph by: Stuart Davis, Vancouver Sun

TAKUMI JAPANESE RESTAURANT

Overall: 4

Food: 4

Ambience: 3 1/2

Service: 3 1/2

Price: $$

5775 Marine Dr., West Vancouver, 604-921-9701.

Restaurant visits are conducted anonymously and interviews are done by phone.

– – –

It’s hard to tell the good from the bad when sushi joints grow like weeds in these parts. Takumi Japanese restaurant has been open for a year and a half and as far as I could tell, it was another dandelion.

Well, turns out it’s a gem. The only drawback — location, location, location. The real estate mantra holds in the dining world, too. Except for Eagle Harbour, Horseshoe Bay and Caulfeild neighbourhoods in West Vancouver, Takumi is a destination location. Other restaurants didn’t survive in this pretty Whistler-style building across from Thunderbird Marina — the last to go down to defeat was La Regalade Cote Mer, an offshoot of the very popular La Regalade bistro and it had everything going for it.

This one is run by the Akaike family — Tadashi, Cathy, son Takumi and daughter Yuri; they ran another Takumi in Burnaby for 16 years until the building was demolished. Tadashi Akaiki directs the food, but son Takumi is firmly on board. He was sent to Japan to “learn the traditional and spiritual” part of cooking traditional Japanese food as mom Cathy says. He learned about seafood by shopping at the mother of all fish markets — Tsukiji Market in Tokyo. Dad Akaiki, who you’ll see at the sushi bar, insists on buying much of the seafood from Tsukiji where the fanatic Japanese standards for quality, freshness, handling and cutting prevail.

One telltale sign of quality in a sushi for me is uni, which I adore even though it’s an orange blob of goo. I never liked it until I had some at Tsukiji market in Tokyo. We bought a box and had it with champagne and potato chips (oops, did I lose your respect?) back at a friends’ home in Tokyo. At Takumi, the uni is just as good, and it’s from Tsukiji. When asked about principles of buying local, Cathy says her husband is stubborn about quality and staying true to Japanese ingredients even if it costs more.

The nori and rice are high grade and raises up the quality of sushi. One flaw, however, was the Japanese tai nigiri which was fresh but chewy. Along with sushi dishes, there are appetizers and hot mains like grilled dishes, rice bowls, noodles and deep-fried dishes like kaki fry (breaded fried oysters). I tried steamed clams in Japanese rice wine and enjoyed them.

“Everything is perfect,” Cathy says. “We just need more customers.”

The neighbourhood and former fans of their Burnaby restaurant are keeping them busy enough for now.

© Copyright (c) The Vancouver Sun

 

More homes get multiple offers; downturn may be nearing end

Wednesday, May 6th, 2009

Julie Schmit
USA Today

Linda, left, and Mark Fussell speak to Corcoran Group Real Estate salesperson Elisa Bond during an open house in Brooklyn as more buyers and bigger crowds are showing up at home showings.

More homes for sale are attracting multiple offers as buyers pursue lower-price homes and banks low-ball asking prices to attract competing bids on foreclosures.

Multiple bids have picked up in recent months in California and other states hit hard by foreclosures and steep price drops, real estate executives say.

“If a house is in a good neighborhood, is maintained and is a good value, it’ll get multiple offers,” says Julie Holt, owner of Anclote Title Services in Tarpon Springs, Fla. One in 10 homes now draw multiple offers, up from one in 30 last fall, she says.

Multiple bids usually signify a market in which prices are rising and buyers outnumber sellers. That’s not true now, given rampant foreclosures, still-falling prices in many regions and low demand for higher-price homes. Multiple offers on distressed properties are also not new, but their recent frequency offers hope for the real estate market, says Beth Peerce, treasurer of the California Association of Realtors (CAR).

“When you begin to see people willing to fight for a property, that’s a good sign,” she says. “We are beginning to see the beginning of the end of a disaster time.”

The competition is driven by prices — California’s are down 39% from a year ago, CAR says — low mortgage rates and a new federal tax credit of up to $8,000 for some first-time buyers.

Other hard-hit regions are also seeing more multiple offers, mainly on:

Lower-end homes. In Phoenix, where prices have dropped 50% from their 2006 peak, competition has heated up for homes under $150,000, says Realtor Michael Orr, who publishes the Cromford Report on the Phoenix-area market. He recently considered bidding on one house for $70,000. It had received 14 offers, and Orr was told to bid $110,000 to be considered.

Good values. Holt just handled a closing on a Tarpon Springs home close to schools that was listed at $185,000. It won three bids and sold at $192,000. Three years ago, the home would have sold for $280,000, Holt says. Higher-price homes are also getting more multiple bids. “People who always wanted to live on the water are realizing it is time to buy before prices go up,” Holt says.

Some bidders may think foreclosure bargains are waning, says Mike Lyon, CEO of Lyon Real Estate in Sacramento. That market has 1,600 bank-owned properties for sale, vs. 2,800 a year ago, he says.

He says banks have lured multiple bids by setting below-market prices. Lyon cautions that government steps to curb foreclosures have delayed some.

“People are perceiving that they are running out. But there will be more,” he says.

BC’s 100+ Okanagan Valley wineries offers romance & drama for wine tasters & travelers

Tuesday, May 5th, 2009

Kasey Wilson
Sun

Winemaking is also done on Saltspring Island. Garry Oaks Winery, above, produces pinot gris, pinot noir, Prism and Zeta.

Old world wine regions may have tradition on their side, but British Columbia offers sheer romance and drama — and balanced whites and reds — for both wine tasters and wine travellers.

Here’s a sample: the Okanagan Valley and Saltspring Island offer two diverse yet equally indulgent wine destinations for you to uncork your inner sommelier.

With more than 100 wineries and the pristine 130-kilometre-long blue-green Okanagan Lake, B.C.’s sunny Okanagan Valley ranks among the most scenic wine regions in the world. Less than an hour by air, or a four-hour drive, east of Vancouver, the Okanagan Valley‘s wineries produce a bounty of award-winning sips. Their pinot blanc, pinot gris, pinot noir, syrah, chardonnay, merlot, malbec, gewürztraminer, rieslings and icewines all consistently garner gold medal standings on the international stage.

Start your tour in Kelowna at the B.C. Wine Museum, situated in the Laurel Packinghouse (kelownamuseums.ca), where the boutique stocks B.C. labels, including some rare vintages. Be sure to check the British Columbia Wine Institute website (winebc.com) for wine country maps; visit the architecturally-stunning Mission Hill Family Estate (missionhillwinery.com) for their educational tours; CedarCreek Estate Winery (cedarcreek.bc.ca) for champion pinot noir; Quails’ Gate (quailsgate.com) where the tasting room boasts state-of-the-art spittoons; and Gray Monk Estate Winery (graymonk.com) for its pinot gris and spotting site for Ogopogo, Lake Okanagan’s legendary “lake demon.”

In the South Okanagan, don’t miss the Naramata estate of La Frenz (lafrenzwinery.com) where you’ll sip award-winning wines in a tasting room that looks like an Aussie farm building. And at Red Rooster (redroosterwinery.com), once you’ve toured the tasting room, take time to visit the mezzanine gallery featuring local artists. Both Lake Breeze (lakebreeze.ca) and Hillside Estate Winery & Bistro (hillsideestate.com) show off their wines at their popular eateries and at Elephant Island Orchard Wines (elephantislandwine.com), you’ll sample B.C.’s finest fruit wines.

Continue your travels south with a visit to Burrowing Owl Estate Winery (burrowingowlwine.ca) — their reds, pinot gris and chardonnays are iconic wines in Canada. At the eastern edge of Osoyoos, in desert country near the U.S. border, the Osoyoos Indian Band owns and operates NK’MIP (pronounced In-ka-meep) Cellars — the first aboriginal winery in North America (nkmip.com). Wines worthy of a sip line the shelves, while the tasting room — filled with First Nations art — also provides a visual feast.

Speaking of sustenance, wherever good wine is made, you’ll find innovative chefs pairing menus with vintages, resulting in some of the finest dining in the region. A perfect interlude to a day of wine tasting is to stop at the open-air Terrace at Mission Hill, named one of the world’s top winery restaurants by Travel + Leisure magazine. Start with Chef Michael Allemeier’s heirloom tomato gazpacho, paired with sauvignon blanc and a charcuterie sharing plate matched with a reserve shiraz. (Pick up a jar of Allemeier’s decadent preserved Oculus cherries at the gift shop to savour at home.) On the Naramata Bench, sample the selections at The Bistro at Hillside Estate Winery, a destination boasting stunning views from the restaurant or patio. For dinner, order the rack of lamb and a glass of their medal-garnering Mosaic Bordeaux blend.

After a day’s exploration, settle in for vineyard accommodation in the South Okanagan. Two of the most spectacular spots to stay in the Valley are at Burrowing Owl Estate Winery and Hester Creek (hestercreek.com). The intimate 11-room guesthouse at Burrowing Owl Estate Winery has spacious air-conditioned rooms with private balconies, and on the grounds you’ll find a 25-metre swimming pool and a hot tub, and even an award-winning restaurant.

The posh Villa at Hester Creek is reminiscent of Tuscany, with private patios surrounded by incomparable panoramic views of vineyards and orchards. Manager Lee Ann Openshaw is a talented cook, so expect the breakfast to be exemplary.

At the eastern edge of Osoyoos, on a spectacular bench overlooking the shores of Osoyoos Lake, you’ll find the Spirit Ridge Vineyard Resort & Spa (spiritridge.ca), created in partnership with the Osoyoos Indian Band as part of the greater resort destination of NK’MIP. Here, you’ll find 226 desert-themed villas and suites and a wine-country inspired restaurant — Passa Tempo — a spa and outdoor pools.

Not to be left out of the wine scene is Saltspring Island.

Winemaking is relatively new on Saltspring with two wineries, Garry Oaks Winery (garryoakswinery.com) and Salt Spring Vineyards (saltspringvineyards.com) producing their first vintages in 2001 and 2002. At Garry Oaks, you’ll want to taste their pinot gris, pinot noir, Prism and Zeta.

The charming Salt Spring Vineyards produces 10 wines: picks by Wine Access, Canada‘s national wine magazine, included their Karma sparkling wine, blanc de noir and pinot gris in 2008. You can also stay in the romantic

on-site B&B combining luxury with the seductive setting of a working vineyard; breakfast features produce and fruit from their garden, locally roasted coffee and organic eggs from a neighbour’s farm. And let’s face it — it’s the perfect place to raise a glass.

Order your free Touring Guide to British Columbia‘s Wineries, with information on winery touring in the Okanagan Valley, Gulf Islands, Vancouver Island and the Fraser Valley, at www.HelloBC.com/foodwine.

For more information on other British Columbia destinations and travel information, call 1-800 HELLO BC or visit www.HelloBC.com/foodandwine.

© Copyright (c) The Vancouver Sun

BC’s 100+ Okanagan Valley wineries offers romance & drama for wine tasters & travelers

Tuesday, May 5th, 2009

Kasey Wilson
Sun

Winemaking is also done on Saltspring Island. Garry Oaks Winery, above, produces pinot gris, pinot noir, Prism and Zeta.

Old world wine regions may have tradition on their side, but British Columbia offers sheer romance and drama — and balanced whites and reds — for both wine tasters and wine travellers.

Here’s a sample: the Okanagan Valley and Saltspring Island offer two diverse yet equally indulgent wine destinations for you to uncork your inner sommelier.

With more than 100 wineries and the pristine 130-kilometre-long blue-green Okanagan Lake, B.C.’s sunny Okanagan Valley ranks among the most scenic wine regions in the world. Less than an hour by air, or a four-hour drive, east of Vancouver, the Okanagan Valley‘s wineries produce a bounty of award-winning sips. Their pinot blanc, pinot gris, pinot noir, syrah, chardonnay, merlot, malbec, gewürztraminer, rieslings and icewines all consistently garner gold medal standings on the international stage.

Start your tour in Kelowna at the B.C. Wine Museum, situated in the Laurel Packinghouse (kelownamuseums.ca), where the boutique stocks B.C. labels, including some rare vintages. Be sure to check the British Columbia Wine Institute website (winebc.com) for wine country maps; visit the architecturally-stunning Mission Hill Family Estate (missionhillwinery.com) for their educational tours; CedarCreek Estate Winery (cedarcreek.bc.ca) for champion pinot noir; Quails’ Gate (quailsgate.com) where the tasting room boasts state-of-the-art spittoons; and Gray Monk Estate Winery (graymonk.com) for its pinot gris and spotting site for Ogopogo, Lake Okanagan’s legendary “lake demon.”

In the South Okanagan, don’t miss the Naramata estate of La Frenz (lafrenzwinery.com) where you’ll sip award-winning wines in a tasting room that looks like an Aussie farm building. And at Red Rooster (redroosterwinery.com), once you’ve toured the tasting room, take time to visit the mezzanine gallery featuring local artists. Both Lake Breeze (lakebreeze.ca) and Hillside Estate Winery & Bistro (hillsideestate.com) show off their wines at their popular eateries and at Elephant Island Orchard Wines (elephantislandwine.com), you’ll sample B.C.’s finest fruit wines.

Continue your travels south with a visit to Burrowing Owl Estate Winery (burrowingowlwine.ca) — their reds, pinot gris and chardonnays are iconic wines in Canada. At the eastern edge of Osoyoos, in desert country near the U.S. border, the Osoyoos Indian Band owns and operates NK’MIP (pronounced In-ka-meep) Cellars — the first aboriginal winery in North America (nkmip.com). Wines worthy of a sip line the shelves, while the tasting room — filled with First Nations art — also provides a visual feast.

Speaking of sustenance, wherever good wine is made, you’ll find innovative chefs pairing menus with vintages, resulting in some of the finest dining in the region. A perfect interlude to a day of wine tasting is to stop at the open-air Terrace at Mission Hill, named one of the world’s top winery restaurants by Travel + Leisure magazine. Start with Chef Michael Allemeier’s heirloom tomato gazpacho, paired with sauvignon blanc and a charcuterie sharing plate matched with a reserve shiraz. (Pick up a jar of Allemeier’s decadent preserved Oculus cherries at the gift shop to savour at home.) On the Naramata Bench, sample the selections at The Bistro at Hillside Estate Winery, a destination boasting stunning views from the restaurant or patio. For dinner, order the rack of lamb and a glass of their medal-garnering Mosaic Bordeaux blend.

After a day’s exploration, settle in for vineyard accommodation in the South Okanagan. Two of the most spectacular spots to stay in the Valley are at Burrowing Owl Estate Winery and Hester Creek (hestercreek.com). The intimate 11-room guesthouse at Burrowing Owl Estate Winery has spacious air-conditioned rooms with private balconies, and on the grounds you’ll find a 25-metre swimming pool and a hot tub, and even an award-winning restaurant.

The posh Villa at Hester Creek is reminiscent of Tuscany, with private patios surrounded by incomparable panoramic views of vineyards and orchards. Manager Lee Ann Openshaw is a talented cook, so expect the breakfast to be exemplary.

At the eastern edge of Osoyoos, on a spectacular bench overlooking the shores of Osoyoos Lake, you’ll find the Spirit Ridge Vineyard Resort & Spa (spiritridge.ca), created in partnership with the Osoyoos Indian Band as part of the greater resort destination of NK’MIP. Here, you’ll find 226 desert-themed villas and suites and a wine-country inspired restaurant — Passa Tempo — a spa and outdoor pools.

Not to be left out of the wine scene is Saltspring Island.

Winemaking is relatively new on Saltspring with two wineries, Garry Oaks Winery (garryoakswinery.com) and Salt Spring Vineyards (saltspringvineyards.com) producing their first vintages in 2001 and 2002. At Garry Oaks, you’ll want to taste their pinot gris, pinot noir, Prism and Zeta.

The charming Salt Spring Vineyards produces 10 wines: picks by Wine Access, Canada‘s national wine magazine, included their Karma sparkling wine, blanc de noir and pinot gris in 2008. You can also stay in the romantic

on-site B&B combining luxury with the seductive setting of a working vineyard; breakfast features produce and fruit from their garden, locally roasted coffee and organic eggs from a neighbour’s farm. And let’s face it — it’s the perfect place to raise a glass.

Order your free Touring Guide to British Columbia‘s Wineries, with information on winery touring in the Okanagan Valley, Gulf Islands, Vancouver Island and the Fraser Valley, at www.HelloBC.com/foodwine.

For more information on other British Columbia destinations and travel information, call 1-800 HELLO BC or visit www.HelloBC.com/foodandwine.

© Copyright (c) The Vancouver Sun

Vancouver residents cite affordability as top reason for buying condos

Tuesday, May 5th, 2009

Brian Morton
Sun

More people are seeing condominiums as an attractive investment opportunity than was the case a year ago, according to a survey released Monday.

TD Canada Trust said 44 per cent of respondents in a survey of urban Canadians said conditions had improved over the last year with regard to the prospects of buying a condo for investment purposes. That was up from 21 per cent in a similar survey done last year.

When it comes to the top reasons for buying a condo, Vancouverites’ responses differed from those of residents elsewhere in Canada.

The top reason most Canadians would consider buying a condo is that condos require less maintenance than houses (39 per cent), followed by the fact that condos are more affordable than houses (21 per cent.)

But in Vancouver, where housing costs have traditionally been high, 35 per cent of respondents cited affordability as the top reason for a condo purchase.

Less maintenance (27 per cent) and approaching retirement (19 per cent) rounded out the top three reasons Vancouver residents gave for purchasing a condo.

“In Vancouver, it’s mostly around affordability and that’s the primary reason they buy a condo,” Joan Dal Bianco, the bank’s vice-president of real estate secured lending, said in an interview. “Vancouverites are also the most optimistic about the market.”

On the investment issue, the bank said lower prices and mortgage rates are the main reason people are being drawn to condos as a way to make money over the longer term.

“This is a good time to explore a condo purchase given that mortgage rates are very attractive right now and many condos have dropped significantly in price,” Dal Bianco said in a statement

The TD Canada Trust Condo Poll also revealed that 43 per cent of Canadians (44 per cent in Vancouver) are willing to consider a joint purchase with a friend or relative to make the condo purchase possible.

Dal Bianco noted that buying a condo with a friend or relative is increasingly an option, although there are potential pitfalls.

“It’s a way to get into the market [and] we found that in Vancouver, more than the average, two people are willing to buy together.

Dal Bianco recommended dual purchasers draw up an agreement in advance. “It’s the lender who defines whether two people can buy together. And if you go in together, the lender will look at both credit ratings.”

The survey also found that Vancouver residents are more willing to raise a family in a condo, while residents of Montreal and Halifax are least likely to raise a family in a condo.

The top reasons why Vancouverites would not consider buying a condominium: Lack of parking (76 per cent), insufficient security (71 per cent), lack of energy-efficient features (53 per cent) and restrictions on pets (53 per cent).

When it comes to costs, most of those living in Vancouver (56 per cent) would spend from $200,000 up to $400,000 for a two-bedroom condo, while 20 per cent of those polled in Vancouver would consider paying $400,000 up to $600,000 for a two-bedroom condo. As well, 51 per cent of Vancouverites polled would pay from $200 up to $400 in monthly condominium fees.

Vancouverites are also the most optimistic that the current market conditions are better than a year ago for buying a condo for investment purposes (54 per cent versus 44 per cent nationally).

The survey, done by Angus Reid Strategies, involved 200 respondents in each of the cities or surrounding areas of Vancouver, Calgary, Toronto, Montreal and Halifax between March 30 and April 7.

© Copyright (c) The Vancouver Sun

Greater Vancouver home sales climb

Tuesday, May 5th, 2009

Metro house prices rise slightly, but are still well below the peaks seen in 2008

Brian Morton, with a file from Fiona Anderson
Sun

The Greater Vancouver housing market “has entered a more moderate and balanced state,” with sales and benchmark prices both up in April compared to March, says the Real Estate Board of Greater Vancouver.

The figures released Monday showed residential property sales in the region covered by the board totalled 2,963 in April, a 31-per-cent increase over March.

As well, the average benchmark price in the same area was $499,021 in April — up 2.7 per cent from the benchmark price of $485,845 in March.

The board says that’s the first significant month-over-month increase in the benchmark price so far this year. And the April increase in sales is notable because historically, March sales are greater than April’s.

The Real Estate Board of Greater Vancouver covers Vancouver, West and North Vancouver, Richmond, Burnaby, Coquitlam, South Delta, Maple Ridge, New Westminster, Pitt Meadows, Port Coquitlam, Port Moody, Squamish and the Sunshine Coast. Among the areas not included are Surrey and the Fraser Valley.

The Fraser Valley Real Estate Board’s figures were not released Monday.

The latest figures show people are “taking advantage of low interest rates and the lower pricing of product,” said REBGV president Scott Russell.

“It’s encouraging. In the overall picture, we’re seeing more stability coming into the market. The number of new listings has been decreasing over the past six months and the number of sales has been increasing since January.”

The result, he said, is a “relatively stable market in which homes are being realistically priced.”

He said the trends over the last couple of months “offer a much more comfortable, historically normal set of conditions.”

According to the release, for the sixth consecutive month, new listings for detached, attached and apartment properties declined in Greater Vancouver, down 33.7 per cent to 4,649 in April 2009 compared to April 2008, when 7,010 new units were listed.

And while sales were up this April over the preceding month, they’re still down by eight per cent from the 3,218 sales recorded in April 2008.

Meanwhile, Tsur Somerville, director of the centre for urban economics and real estate at the Sauder School of Business at the University of B.C., said lower interest rates have brought people back into the market .

“But you still have the fundamentals of the economy that haven’t magically got 100-per-cent better,” Somerville said.

So people shouldn’t be counting on a return to the boom days any time soon, he said.

“I think there’s a difference between we’re not dropping anymore versus we’re on a comeback,” he said. “And I think it’s pretty hard to see how you get a comeback without an improvement in the economy.”

With respect to the benchmark price, Somerville said other statistics show prices are continuing to fall in some areas of Greater Vancouver.

“Their [REBGV] numbers are not the same as what we’re seeing from some other places, so I think it is hard to make sense of what’s going on there,” Somerville said.

According to the report, sales of detached properties declined eight per cent in April to 1,190 from the 1,293 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 12.2 per cent from April 2008 to $675,268.

Sales of apartment properties in April 2009 declined 10.5 per cent to 1,179, compared to 1,317 sales in April 2008, with the benchmark price of an apartment property declining 12.6 per cent from April 2008 to $340,203.

Attached property sales in April 2009 are down 2.3 per cent to 594, compared with the 608 sales in April 2008. The benchmark price decreased 9.7 per cent between April 2008 and April 2009 to $431,759.

The report also noted that bright sales spots in April were Vancouver West (detached), Port Coquitlam, Richmond and Vancouver West (attached), and North Vancouver (apartments).

© Copyright (c) The Vancouver Sun