Archive for September, 2017

Second+Main at 1847 Main Street 233 homes in a 12-storey tower by Create Properties

Sunday, September 17th, 2017

Residents of Second + Main will be at home in a walkable, amenity ?rich neighbourhood

Shawn Conner
The Province

With its eye-catching architecture and central location, Second + Main is in a unique position to be a new gateway to Mount Pleasant.

Situated on the west side of Main Street between 2nd and 3rd avenues, the site intersects some of the city’s most exuberant areas. (Vancouverites will recognize the project’s site as the former stronghold of the old Maynard’s Liquidation Centre.) The shops and restaurants of Mount Pleasant, the tech hub west of Main, the arts district along Great Northern Way, the waterfront at Olympic Village — all are within easy, walkable reach of Second + Main.

When completed, the project will be home to 233 residential units, including studio, one-, two- and three-bedroom homes. In spaces-trapped Vancouver, the homes have been designed to create a sense of spaciousness, as well as comfort and efficiency. Floor plans are carefully structured around today’s active lifestyles to maximize all useable living space. Many homes feature an innovative movable wall system that transitions a one-bedroom layout into the functionality of a twobedroom.

Another innovative component is a transitional kitchen island that allows for working and dining.

And every home has a functional closet system that allows homeowners to customize the configuration of their home.

Similarly, smart touches have been carefully selected for inclusion throughout the homes. In the kitchen, you’ll find custom European cabinets with softclose cabinet doors. A highperformance appliance package includes Liebherr integrated over/ under refrigerator/freezer, stainless steel Porter and Charles built-in convection oven, Porter & Charles induction stovetop, integrated Porter & Charles dishwasher, an integrated, glide-out exhaust hood, and a built-in stainless steel microwave. Mirrored backsplashes and polished quartz countertops add more notable details to the already sophisticated package.

European bathroom cabinets, modern Kohler plumbing fixtures, large-format porcelain bathroom floor and shower wall tiles make the bathroom sparkle. Additional bathroom features include dual-flush, low-consumption wall-hung European-styled toilets, convenient in-shower storage niches, above-sink mirrored medicine cabinet, quartz countertops and a sleek soaker tub.

Homes include air conditioning with individual suite metering, light and dark colour schemes, and premium wide-plank laminate flooring. Expansive windows maximize natural light and views. Contemporary roller shades allow for privacy and sun control. In addition, some homes have large terraces or patios with privacy screening.

The building’s exterior design mirrors the modern interior. Second + Main steps down from 12 storeys at the corner of Main and East 2nd to six storeys at Main and East 3rd. This terraced layout creates opportunities for panoramic views, as well as outdoor gardens that fit the needs of today’s urban growers and DIY, food-culture lovers. A children’s play area, a lounge with a fireplace, and two community kitchens with barbecues add to the rooftop’s neighbourly vibe.

Other amenities include a fitness room on the second floor and on the ground, a public plaza. Situated in a central courtyard amid the six retail units, the plaza is a place where Second + Main residents can meet their neighbours over a cup of coffee and mingle with the public. You can pre-register online at secondandmain.ca.

© 2017 Postmedia Network Inc.

Burnaby’s Fortinet bulking up to combat brewing cyber threats

Sunday, September 17th, 2017

Burnaby?s Fortinet bulking up in face of cyber threats

Derrick Penner
The Province

International cybersecurity firm Fortinet is on the hunt to hire as many as 1,000 tech experts to fill its newly expanded data hub in Burnaby and help it keep on top of a rapidly expanding “threat landscape,” as security strategist Derek Manky puts it.

From ordinary “phishing” to sophisticated malware and ransomware attacks such as WannaCry, Manky estimates Fortinet deals with “north of one million” new cyber threats every day.

And the number of Internet-connected devices in need of protection — from intelligent appliances and cars to smartphones — is always growing.

“(Ransomware) is a threat that has been on our radar for some time, but it’s getting nastier as time moves on,” Manky said. “They’re becoming more persistent and more damaging.”

To keep up with combating them, Fortinet announced this week the completion of a major expansion at its Burnaby campus, the now California-headquartered firm’s key research and development facility, taking over a second building in its suburban office park off Still Creek Drive.

That increases its footprint to about 282,000 square feet from the 87,000 square feet that Fortinet’s existing workforce of about 700 operates from now.

Manky said the company will now be looking to recruit up to 1,000 people “sooner rather than later” to fill the space, although he acknowledged that the effort might take up to five years considering the firm hires about 50 to 60 new grads per year to fill its growing needs.

“We would like to get more, as you can see with the expansion,” Manky said. “One thousand is a big number.”

Fortinet isn’t the only local tech firm on a hiring binge. Its announcement follows news that online retail giant and data-services firm Amazon is advertising for more than 350 tech positions in Vancouver, with other companies looking to recruit new talent as well.

Besides threat-intelligence experts and threat analysts, Manky said the company needs web developers, user-interface designers and a plethora of other positions to make its system work.

For some positions, such as the developers and programmers, it is very difficult to recruit locally because these are the same jobs everyone is looking to fill, Manky said.

There is less competition locally for the specific security experts, but Manky said for more experienced personnel, the competition is getting tighter at the global level considering the growing need.

Fortinet, which has about 5,000 employees around the world, is working to help close its skills gaps by setting up Fortinet Acadamies in 65 countries to collaborate with universities and cultivate the talent they need.

Manky said in Canada, the company is working with four universities, and cultivating relationships with 19 more, and he himself sits on a program advisory committee at the B.C. Institute of Technology, his alma mater.

“There is a huge gap in cybersecurity skills right now,” Manky said. “If you look at (the industry) it’s expected to grow (by) two million positions worldwide by 2019 that are unfilled. There is simply a lot of demand.”

© 2017 Postmedia Network Inc.

One Water Street at 1187 Sunset Drive Kelowna a 36 storey tower with 221 homes by North American Development Group

Saturday, September 16th, 2017

Owners will be able to enjoy resort lifestyle without leaving building

Michael Bernard
The Vancouver Sun

ProjectOne Water Street, Kelowna

Project Location: 1187 Sunset Dr., Kelowna

Project Size/Scope: First of two towers, featuring a 36-storey concrete highrise with 221 homes, on a 2.- acre site overlooking Lake Okanagan. Both towers sit on a three-storey podium that connects the first tower with the second 29-storey building to be constructed later. Podium amenities include a 1.3-acre landscaped park that includes two swimming pools, an outdoor hot tub, fitness centre and outdoor barbecues and fire pits in a lounge area.

Price: Starting from $299,900 for 442 sq. ft. studio, and ranging through a $2.09-million starting price for sub-penthouses between 1,592 and 2,632 sq. ft.

Developer: North American Development Group/Kerkhoff Construction Ltd.

Architect: KASIAN Architecture, Vancouver

Interior design: Inside Design Studio, Vancouver

Sales centre: 1001 Manhattan Dr., Kelowna

Sales phone: 778-940-8385

Occupancy: Late 2020

A new two -tower complex that will see the tallest building ever to be built in Kelowna will alter the city’s skyline over the next few years, while offering homeowners unsurpassed views of Okanagan Lake and the surround mountains, says one of the project’s two developers.

The 36-storey, 221-unit concrete highrise at One Water Street — the first of two towers to be constructed — will also cement the future of the city’s downtown lakeside district as a lively, bustling neighbourhood where buyers have the amenities of a private resort right outside their doorstep, says Leonard Kerkhoff, vice- resident of development for Kerkhoff Construction.

City council gave the new project the green light last month by approving a change that permitted Kerkhoff and its Florida-based partner, North American Development Group, to surpass previous height restrictions with two towers at 29 and 36 storeys, and creating a total of 403 homes on a 2.9-acre site. The parcel has sat undeveloped for more than a decade.

The vision for the new development actually began with an earlier project that Kerkhoff’s company had rescued in his company’s first venture in Kelowna.

“Two years ago, Kelowna wasn’t even on our radar,” he said, adding that his company saw an opportunity in reviving a half-completed 117-unit project called 1151 Sunset Drive. That building, with just 10 suites left to sell, will be finished next year.

“We walked through the downtown core. It’s vibrant: there are a lot of people there. It’s got a lot of activity and no housing opportunities. There was nothing to buy, so obviously there was a hole in the market.

“Of course, with the success of 1151, it made sense to roll over into the next two towers, which have exactly the same things going for them.”

The council-approved zoning change increased density on the parcel, and at the same time permitted the developers to make a number of improvements and avoid the unappealing massing that would be necessary under the old restrictions, Kerkhoff said.

“We went higher, giving us more bench space on the podium (on which the two towers will sit) and more green space between the buildings. It improved the view corridor between the buildings and it just makes it more esthetically pleasing.”

The first three floors of the new tower will be dedicated to parking and commercial space — restaurants, coffee shops and grocery stores, among others — with the fourth floor showcasing the resort-style amenities, including two swimming pools, a hot tub, landscaped patio, barbecue area, fire pits, a pickle ball court and a 3,000-square-foot fitness centre.

Kerkhoff said sales of 1151 Sunset Drive show about 65 per cent of buyers are local, between 20 and 25 per cent are from Vancouver, the Fraser Valley and Vancouver Island, with the balance from other Canadian points. He expects a similar pattern in sales of the two new towers.

“Buyers are looking for the resort living without being at a resort. And what is a resort without a swimming pool or a hot tub? And pets are an integral part of their lives and people want to bring them, so we have built a dog walk (on the podium) so they don’t have to walk for blocks and blocks for their dogs to take a pee.”

“The layout for all the units in One Water Street first tower is optimal. It’s optimized for views, for unit layouts, for efficiency. To fit the lifestyle needs, the units are large with lots of storage, good laundry facilities and extra bedrooms for guests.”

The first tower has a range of suite sizes including studio suites from 442 to 456 square feet; one-bedroom and one-bedroom-and-den homes from 536 to 634 square feet; two-bedroom and two-bedroom-and-den homes ranging from 840 to 1,348 square feet.; and three-bedroom homes at 1,408. There are also seven “city homes”, two-storey units that open on to the podium that range between 1,775 and 1,904 square feet and sub-penthouses between 1,592 and 2,632.

One-bedroom homes range from $324,900 to $499,900; two-bedroom homes from $449,900 to $1.19 million; three-bedroom homes from $904,900 to $1.2 million and townhomes from $899,900. The sub-penthouses start at $2.09 million.

Inside the homes are floor-to-ceiling windows that take full advantage of lake and mountain views. The homes feature oversized exterior decks that include a natural gas outlet for a barbecue or portable fireplace. Nine-foot-high ceilings have pot lights in selected locations throughout. The main living areas including the kitchen and all bedrooms have plank hardwood flooring while bathrooms have tile floors.

Kitchens are equipped with flat-panel cabinetry complete with full-height upper cabinets and built-in wine storage. Large-scale quartz countertops are finished with waterfall island gables featuring organic patterning and matching solid slab backsplash.

A KitchenAid Gourmet model stainless steel appliance package includes a 30-inch slide-in range with a Broan slimline integrated hood fan, a 20-cubic foot Energy Star-rated french door fridge with interior water dispenser, and a high temperature ultra-quiet dishwasher and in larger homes, and a built-in convection microwave. All homes come with stacking front-load Energy Star-rated washers and dryers.

In the bathroom, cabinetry and vanity match the quality of kitchen cabinets, while there are tiled tub and shower surrounds and showers in the ensuites.

In the parkade, there are electric vehicle charging stations, a gated car wash station, and secure bike storage.

There are two new suites in the presentation centre with a monitor showing views from various floors. Sales commence Sept. 29.

© 2017 Postmedia Network Inc.

The Grande 300 Morrissey Road Port Moody 220 homes in a 26 storey tower by Onni

Saturday, September 16th, 2017

Retail offerings, rapid transit and stellar views key to the appeal of Port Moody?s The Grande

Kathleen Freimond
The Vancouver Sun

Project: The Grande

Project address: 300 Morrissey Road

Project City: Port Moody

Developer: Onni Group

Architect: Ciccozzi Architecture

Interior design: Onni Group

Project size: 26-storeys; 220 homes

Bedrooms: 1, 2 and 3 bedrooms

Unit size: 600 — 2,100 square feet

Price: High $400,000s to $2.7 million

Construction: Concrete

Sales centre: 601 – 220 Brew Street, Suter Brook Village

Sales centre hours: noon — 6 p.m., Sat — Thurs 

Phone: 604-552-0552

Website: http://www.onni.com/thegrande

As the Onni Group begins development on the final parcel of land in Suter Brook Village, its 22-acre master-planned community in Port Moody, a combination of amenities, views and proximity to the SkyTrain and West Coast Express are driving interest in the 26-storey residential tower, The Grande.

The Grande will comprise 220 units, including one-, two- and three-bedroom condos, four sub-penthouses and four penthouses. Architect Robert Ciccozzi, principal of Ciccozzi Architecture, says the tower is sited to maximize views of the Burrard Inlet while not obstructing the outlook from existing buildings.

“This is the last parcel of land in Suter Brook Village, so Onni wanted to do something unique with it, something iconic and visible from the SkyTrain line,” Ciccozzi says.

To achieve this Ciccozzi, oriented as many units as possible to take advantage of the water view to the northwest. This resulted in a large floor plate and Ciccozzi added strong vertical architectural elements to make it appear more slender.

Large metal panels create white frames on the northwest and northeast corners to address the water views, while the alternating placement of balconies on the south elevation adds visual interest to the building, he says.

“At the very top of building, we express that verticality by cranking up those corners with that sloped roof and pulling back the penthouse units,” Ciccozzi says. Rather than a flat roof, these elements also distinguish the building and exaggerate the vertical movement, he adds.

Two white frames define the entrance to The Grande.

“It’ something to appreciate on a human scale. You [will] enter under the canopy and then inside, the two-storey volume opens up and the quality of light coming through the patterns in the concrete creates something quite whimsical,” Ciccozzi says.

Inside the contemporary tower, buyers can choose from two colour schemes: Westcoast and the slightly darker Evergreen option.

There are two display kitchens at the sales centre. In the kitchen showing the Westcoast option, the large island with a marble countertop features an overhang that easily has room for four chairs, making it a great place for a breakfast bar and work area. The island also accommodates an undermount dual-bowl sink and polished chrome faucet with extractable spray and a push button control for the garburator.

Onni Group senior interior designer Julia Devlin says the integrated appliances contribute to the high-end European esthetic in the kitchens. Major appliances include a 30-inch Blomberg refrigerator with bottom-mount freezer, a Fulgor Milano five-burner cooktop and convection wall oven, Blomberg dishwasher and slim-profile Faber hood fan.

The durable wood-grain melamine cabinets have soft-close mechanisms and integrated finger pulls enable a flush finish. Under-cabinet LED puck lights and overhead pot lights illuminate the space that also features built-in pantry cupboards (sizes vary according to plan selection) with adjustable shelves.

Two bathrooms at the sales centre show potential buyers both colour and material palettes. Devlin says the use of natural materials like marble, the under-cabinet lighting below the vanities, the addition of medicine cabinets and adjustable shower arms in the showers all reflect a high level of detail to appeal to the design savvy marketplace that values those features.

The large bathroom in the Westcoast option, representing the master ensuite or primary bathroom, has a spa-like ambience with its 12-by-24-inch ‘Silver Shadow’ polished marble tiles on the floor, the wall behind the tub, on the tub apron and extending into the frameless glass shower. The vanity’s ‘Coffee Brown’ marble countertop and eight-inch high backsplash adds an elegant touch to the space that also features a heated floor.

While wide-plank laminate floors seamlessly connect the kitchen and the living areas, premium wool-blend carpets will be soft underfoot in the bedrooms and walk-in closets.

Construction of the master-planned community at Suter Brook Village started in 2005 and when The Grande is completed, there will be about 1,500 homes in the development. The busy retail component, a favourite shopping area for Suter Brook Village and nearby Newport Village residents, features everything from coffee shops to banks, a liquor store and Thrifty Foods.

“The transit is key with proximity to Inlet Station on the Evergreen SkyTrain line and the last stop for the West Coast Express [Moody Centre Station]. You can get on the West Coast Express and be in downtown Vancouver in 20 minutes,” says Nic Jensen, vice-president of sales for the Onni Group.

“Onni will be retaining ownership of the commercial and retail space in the development. This is important: it’s a long-term investment for Onni – we plan to keep our ties in the community,” he says.

The Grande is attracting interest from a range of buyers, including young families and downsizers.

“There are people in the community itself that are interested in The Grande and then there are the people who have lived in Port Moody for many years and love the neighbourhood. They’re happy to downsize to a condo and stay close to the services they are familiar with,” Jensen adds.

The Grande has more than 18,000 square feet of indoor and outdoor amenity space, including a well-equipped gym with steam room and sauna. Other amenities include a pool and hot tub, children’s play room and outdoor playground, a games room with lounge seating and TV, a party room with a chef’s kitchen, and an outdoor barbecue and seating area. Green thumbs can indulge their hobby in the community garden plots that will be available. Residents will also be able to book the guest suite for out-of-town visitors.

© 2017 Postmedia Network Inc.

Home sales correction forecast for B.C., Ontario this year; 5.3% decline nationally

Saturday, September 16th, 2017

National figure projected to be lowest in three years amid policy changes, interest rate hikes

ROSS MAROWITS
The Vancouver Sun

Canadian home sales are expected to drop to their lowest level in three years in 2018, driven largely by a decline in Ontario, the Canadian Real Estate Association said Friday.

The association expects that 495,100 homes will be sold next year after downgrading its sales forecast for 2017 on a 9.9 per cent drop in August compared with a year ago.

It expects sales will fall 2.3 per cent in 2018 following a 5.3 per cent decline this year to 506,000, or 20,000 fewer than previously forecast in June.

Seasonally adjusted sales in August rose 1.3 per cent from the prior month, due to a 14.3 per cent boost in the Greater Toronto Area. Still, sales in this area were down 35 per cent from a year ago.

Benjamin Reitzes of BMO Capital Markets said the August data suggests the worst may have passed for the GTA following Ontario policy changes to restrict foreign buyers, but the future is unclear.

“The Bank of Canada’s rate hikes should help contain any renewed exuberance, but if things do heat up again, expect policymakers to step in before too long,” he wrote in a report.

CREA projects sales in British Columbia and Ontario will fall by about 10 per cent in 2017, compared to record highs set in 2016.

The association said sales in August were down in nearly two-thirds of all local markets, led by the Greater Toronto Area and nearby housing markets.

In Vancouver, August sales were up 7.3 per cent from July and 21.3 per cent higher than a year ago.

“Experience shows that homebuyers watch mortgage rates carefully and that recent interest rate increases will prompt some to make an offer before rates move higher, while moving others to the sidelines,” stated CREA President Andrew Peck.

The average price for a home sold last month was $472,247, up 3.6 per cent compared to a year ago. Greater Toronto was up 3.1 per cent and Greater Vancouver 17.9 per cent.

Excluding these regions, the national average price was $373,859.

The national average price is forecast to rise by 3.4 per cent to $507,700 in 2017, lower than its prior forecast because of fewer luxury home sales in the Greater Golden Horseshoe region of Ontario.

However, it is expected to dip by 0.6 per to $503,500 next year largely reflecting that a record number of high-end home sales around Toronto earlier this year likely won’t be repeated in 2018.

Newfoundland and Labrador sales this year are forecast to decrease by 8.1 per cent, and Saskatchewan down four per cent.

Alberta is projected to have the country’s largest increase at 7.4 per cent, but that’s still below the provincial 10-year average.

Sales are forecast to grow 5.4 per cent in Quebec and 5.7 per cent in New Brunswick.

Manitoba and Quebec are the only two provinces expected to set new annual sales records in 2017, while sales in New Brunswick and Prince Edward Island are on track to come up just short of all-time record levels.

© 2017 Postmedia Network Inc.

Convenience or conformity?

Saturday, September 16th, 2017

Franklin Foer
The Vancouver Sun

When it comes to the most central tenet of individualism — free will — the tech companies have a different way. They hope to automate the choices, both large and small, we make as we float through the day. It’s their algorithms that suggest the news we read, the goods we buy, the paths we travel, the friends we invite into our circles.

It’s hard not to marvel at these companies and their inventions, which often make life infinitely easier. But we’ve spent too long marvelling. The time has arrived to consider the consequences of these monopolies, to reassert our role in determining the human path. Once we cross certain thresholds — once we remake institutions such as media and publishing, once we abandon privacy — there’s no turning back, no restoring our lost individuality.

Over the generations, we’ve been through revolutions like this before. Many years ago, we delighted in the wonders of TV dinners and the other newfangled foods that suddenly filled our kitchens: slices of cheese encased in plastic, oozing pizzas that emerged from a crust of ice, bags of crunchy tater tots. In the history of man, these seemed like breakthrough innovations. Timeconsuming tasks — shopping for ingredients, tediously preparing a recipe and tackling a trail of pots and pans — were suddenly and miraculously consigned to history.

The revolution in cuisine wasn’t just enthralling. It was transformational. New products embedded themselves deeply in everyday life, so much so that it took decades for us to understand the price we paid for their convenience, efficiency and abundance. Processed foods were feats of engineering, all right — but they were engineered to make us fat. Their delectable taste required massive quantities of sodium and sizable stockpiles of sugar, which happened to reset our palates and made it harder to sate hunger. It took vast quantities of meat and corn to fabricate these dishes, and a spike in demand remade American agriculture at a terrible environmental cost. A whole new system of industrial farming emerged, with penny-conscious conglomerates cramming chickens into feces-covered pens and stuffing them full of antibiotics. By the time we came to understand the consequences of our revised patterns of consumption, the damage had been done to our waistlines, longevity, souls and planet.

Something like the midcentury food revolution is now reordering the production and consumption of knowledge. Our intellectual habits are being scrambled by the dominant firms. Giant tech companies have become the most powerful gatekeepers the world has ever known. Google helps us sort the internet, by providing a sense of hierarchy to information; Facebook uses its algorithms and its intricate understanding of our social circles to filter the news we encounter; Amazon bestrides book publishing with its overwhelming hold on that market.

Such dominance endows these companies with the ability to remake the markets they control. As with the food giants, the big tech companies have given rise to a new science that aims to construct products that pander to their consumers. Unlike the market research and television ratings of the past, the tech companies have a bottomless collection of data, acquired as they track our travels across the Web, storing every shard about our habits in the hope that they may prove useful. They have compiled an intimate portrait of the psyche of each user — a portrait that they hope to exploit to seduce us into a compulsive spree of binge clicking and watching. And it works: On average, each Facebook user spends one-sixteenth of their day on the site.

In the realm of knowledge, monopoly and conformism are inseparable perils. The danger is that these firms will inadvertently use their dominance to squash diversity of opinion and taste. Concentration is followed by homogenization. As news media outlets have come to depend heavily on Facebook and Google for traffic — and therefore revenue — they have rushed to produce editorials that will flourish on those platforms. This leads to a duplication of the news like never before, with scores of sites across the internet piling onto the same daily outrage. It’s why a picture of a mysteriously coloured dress generated endless articles, why seemingly every site recaps “Game of Thrones.” Each contribution to the genre adds little, except clicks. Old media had a pack mentality, too, but the internet promised something much different. And the prevalence of so much data makes the temptation to pander even greater.

This is true of politics. Our era is defined by polarization, warring ideological gangs that yield no ground. Division, however, isn’t the root cause of our unworkable system. There are many causes, but a primary problem is conformism. Facebook has nurtured two hive minds, each residing in an informational ecosystem that yields head-nodding agreement and penalizes dissenting views. This is the phenomenon that the entrepreneur and author Eli Pariser famously termed the “Filter Bubble” — how Facebook mines our data to keep giving us the news and information we crave, creating a feedback loop that pushes us deeper and deeper into our own amen corners.

As the 2016 presidential election so graphically illustrated, a hive mind is an intellectually incapacitated one, with diminishing ability to tell fact from fiction, with an unshakable bias toward party line. The Russians understood this, which is why they invested so successfully in spreading dubious agitprop via Facebook. And it’s why a raft of companies sprouted — Occupy Democrats, the Angry Patriot, Being Liberal — to get rich off the Filter Bubble and to exploit our susceptibility to the lowest-quality news, if you can call it that.

Facebook represents a dangerous deviation in media history. Once upon a time, elites proudly viewed themselves as gatekeepers. They could be sycophantic to power and snobbish, but they also felt duty-bound to elevate the standards of society and readers. Executives of Silicon Valley regard gatekeeping as the stodgy enemy of innovation — they see themselves as more neutral, scientific and responsive to the market than the elites they replaced — a perspective that obscures their own power and responsibilities. So instead of shaping public opinion, they exploit the public’s worst tendencies, its tribalism and paranoia.

During this century, we largely have treated Silicon Valley as a force beyond our control. A broad consensus held that lead-footed government could never keep pace with the dynamism of technology. By the time government acted against a tech monopoly, a kid in a garage would have already concocted some innovation to upend the market. Or, as Google’s Eric Schmidt, put it, “Competition is one click away.” A nostrum that suggested that the very structure of the internet defied our historic concern for monopoly.

As individuals, we have similarly accepted the omnipresence of the big tech companies as a fait accompli. We’ve enjoyed their free products and next-day delivery with only a nagging sense that we may be surrendering something important. Such blitheness can no longer be sustained. Privacy won’t survive the present trajectory of technology — and with the sense of being perpetually watched, humans will behave more cautiously, less subversively. Our ideas about the competitive marketplace are at risk. With a decreasing prospect of toppling the giants, entrepreneurs won’t bother to risk starting new firms, a primary source of jobs and innovation. And the proliferation of falsehoods and conspiracies through social media, the dissipation of our common basis for fact, is creating conditions ripe for authoritarianism. Over time, the long merger of man and machine has worked out pretty well for man. But we’re drifting into a new era, when that merger threatens the individual. We’re drifting toward monopoly, conformism, their machines. Perhaps it’s time we steer our course.

© 2018 Postmedia Network Inc.

Claire Brownwell reveals some tips and notes of caution if you want to join the digital currencies? wild ride

Saturday, September 16th, 2017

CRYPTO CURIOSITY

Claire Brownwell
The Vancouver Sun

Investors who bought cryptocurrencies early on faced plenty of doubters, but today they’re laughing all the way to the bank.

The price of bitcoin has had plenty of ups and downs during its turbulent history, but if you bought and held $1,000 worth of the currency five years ago and sold it on Monday, you would have about $374,000 today.

In July, Bloomberg reported that an unknown trader turned a US$55-million investment in ether, the digital currency powering the Ethereum blockchain, into US$283 million over the course of a month.

Over the past three months, the collective market capitalization of the 800-odd cryptocurrencies in existence has increased to US$146.5 billion on Sept. 11, from about US$25 billion on April 1.

Despite the huge increase in value, mainstream consumers have yet to take to these digital assets in significant numbers. To the average person, cryptocurrencies remain confusing and unfamiliar.

If you think that’s going to change and you see room for cryptocurrency valuations to climb even higher, here’s a guide to buying and trading bitcoin, ether and the hundreds of others in existence. Before you get too carried away, we have some notes of caution as well.

BUYING BITCOIN

Bitcoin made it theoretically possible for two parties to exchange digital value without requiring a bank, government or third party. In practice, it’s not quite that simple.

For one thing, we all get paid in currencies issued by central banks, not bitcoin, which means investors need a way to convert their money into a cryptocurrency, which usually means buying it through an exchange.

Canadian investors have an additional challenge: It can be hard to find a cryptocurrency exchange that accepts loonies. Canada’s Quadriga lets investors buy bitcoin using Interac online, an electronic funds transfer or a bank wire, but

requires account and identity verification in some cases.

If, in the spirit of things, you’d rather keep your bank account out of the transaction, a bitcoin ATM might be the way to go. Available in cities across the country, bitcoin ATMs allow you to deposit cash in exchange for cryptocurrency, albeit for higher fees than an exchange would charge.

Once you’ve made the transaction, congratulations, you now own bitcoin, which you can prove is yours thanks to a shared digital ledger called the blockchain. The exchange or bitcoin ATM will have issued you a bitcoin address, which is like an email address people can use to send you money.

If you want to send money to other people, you need one more thing: a private key, similar to the password you would need to open up your email account.

Private keys are issued by pieces of software called bitcoin wallets and provide mathematical proof that transactions came from a wallet’s owner. Simply choose a bitcoin wallet provider and download its app on your smartphone.

The most common way to explain bitcoin wallets is to describe them as similar to bank accounts, but that’s misleading, said Anthony Di Iorio, chief executive and co-founder of Jaxx, a multicryptocurrency wallet.

Unlike a bank account — or a physical wallet — bitcoin wallets don’t “hold” your money. Your bitcoins are stored on the blockchain, with the bitcoin wallet simply facilitating transactions.

Some wallets manage your private key on their servers, while others give you the option of storing it yourself in a file, hardware wallet or paper wallet to keep your bitcoins safe if the wallet gets hacked.

“We’re a world wallet that doesn’t hold onto people’s money,” Di Iorio said. “You are personally responsible for securing your key.”

WHAT ABOUT OTHER CRYPTOCURRENCIES?

Bitcoin is the best-known cryptocurrency, but there are 800-plus

others out there.

Some were invented to solve problems with bitcoin, some provide a specific function such as giving a user access to cloud storage, and some act to certify equity ownership in a startup.

At US$27.9 billion, Ethereum has the second-largest market capitalization next to Bitcoin. It’s growing so quickly, however, that many cryptocurrency watchers are predicting Ethereum will one day dethrone Bitcoin in a reversal they refer to as the “flippening.”

Invented by a University of Waterloo dropout, Ethereum has a flexible programming model that allows developers to use its blockchain to make decentralized applications and self-executing “smart contracts.”

An alliance of major corporations and financial institutions is working together to study potential uses for Ethereum.

The third-largest cryptocurrency by market capitalization is Bitcoin Cash and it’s just a monthand-a-half old.

Bitcoin Cash is the result of a bitter, years-long dispute over how to handle the growing number of transactions as bitcoin becomes more popular.

Some people didn’t like the technical

fix implemented by bitcoin’s core developers, so they copied the cryptocurrency’s code, gave every owner of bitcoin an equal number of Bitcoin Cash tokens and launched a competing version using their preferred solution to the scaling problem.

Other popular cryptocurrencies include: Ripple, which provides the technological infrastructure for financial settlements; Litecoin, an alternative to Bitcoin launched with the intention of creating a “silver to Bitcoin’s gold;” and Dash, a cryptocurrency that focuses on providing quick and anonymous transactions.

BUYING OTHER CRYPTOCURRENCIES

Let’s say you think Ripple’s financial settlement infrastructure technology is about to take off, or you want to send and accept digital tips in Dogecoin. The Jaxx wallet lets you trade 15 different cryptocurrencies within the app, while wallets associated with cryptocurrency exchanges can hold and exchange a variety of tokens.

Di Iorio said the massive increase in cryptocurrency value in recent months has inspired a lot of new users to sign up for Jaxx, putting the company on track to pull in $1 billion in sales in this year. Jaxx now has about 500,000 users.

“It’s booming,” Di Iorio said. “It’s been crazy.”

If you want to invest in a brand new cryptocurrency, it’s possible to do so through an initial coin offering, or ICO.

For example, Waterloo, Ont.based messaging app Kik just launched an ICO with its cryptocurrency called Kin in the hopes it will increase in value as users earn it and trade it.

Sid Kalla, a researcher with Smith + Crown, a cryptofinance analyst, said it’s important to do your research before investing in any cryptocurrency, but ICOs require even more scrutiny.

Because valuations are so high right now, it’s become possible for untested entrepreneurs with halfbaked ideas to raise a lot of money

they don’t necessarily deserve.

“It’s hard to pick good winners, because the good projects have valuations that go up very high, which limits how much upside potential you could have,” Kalla said. “Like any bubble, you don’t know where the top is.”

BUYER BEWARE

Simply put, cryptocurrencies are not for you if you want a dependable, low-risk investment that allows you to sleep well at night.

For instance, over the course of a weekend from Sept. 7 to Sept. 11, Bitcoin lost eight per cent of its value following news that the Chinese government plans to shut down the country’s cryptocurrency exchanges.

The volatility of cryptocurrencies is “like penny stocks squared,” Kalla said.

“You have to ask yourself, what is the reason for investing? If the reason is, ‘I think Ethereum is going to go up in price 20 per cent by the end of this month,’ then I would say don’t buy it,” he said. “Even if you think this is going to be the next big thing, that doesn’t mean it’s going to be the next big thing next year.”

If you do manage to quadruple your money in a month, remember you owe the taxman his cut. The Canada Revenue Agency has made it clear it considers such profits to be capital gains, 50 per cent of which are taxable.

Jamie Golombek, managing director of tax and estate planning at Canadian Imperial Bank of Commerce, said the anonymous nature of cryptocurrency trading won’t help if the CRA starts asking questions about where you got the money for that fancy new car.

“If someone tries to convert a substantial amount of bitcoin into real currency — like Canadian dollars — presumably there will be a record of that and the CRA may ask where that money came from,” Golombek said. “Not reporting it is tax evasion and it’s illegal.”

© 2017 Postmedia Network Inc

Demand for new residential offerings expected to continue to be robust in the months ahead

Saturday, September 16th, 2017

Heading for home at Green on Queensbury, Sussex and Terraces at the Peak

Michael Bernard
The Vancouver Sun

Compared to last fall, when dozens of residential towers were launched in Metro Vancouver’s new-home market, real estate observers expect this fall to be a period of lower inventory, with smaller developments playing a prominent role in the marketplace.

These observers say demand still remains incredibly strong, explaining why prices have continued to rise for condominiums and townhouses this year. They do not anticipate that interest rate increases — there have been two this year — will have a significant impact on that demand in the short term.

MLA Canada, an amalgam of Mac Marketing Systems and BVLD Marketing Group, predicts that the five most active pre-sale markets will be Coquitlam, North Vancouver, Richmond, Vancouver and Burnaby.

“Any townhome product is going to be extremely valuable,” says MLA principal Cameron McNeill. “The single-family home market is beyond the reach of most now. Townhome product is in short supply. We will see townhomes from Squamish to Chilliwack being in incredible demand and in short supply.

“In the multi-family market, we are going to see more units congregating around transit,” he said.

Scott Brown, president of Fifth Avenue Real Estate Marketing, one of the region’s largest multi-family marketing firms, says he foresees a more sustainable market going forward.

“I think the market is as good and maybe even more stable this year,” he said. While last year’s foreign buyers’ tax temporarily slowed down sales, this past summer has been very strong.

Brown noted that one project in North Vancouver’s developing Seylynn district, the 50-unit Crown and Mountain homes near the Phibbs bus exchange, sold out in a couple of days, even before his firm had a chance to open the presentation centre to the public this fall.

He expects this season will be characterized by this kind of smaller project. That is a departure from last year’s big development releases, such as 23-tower City of Lougheed in Burnaby, Concord Pacific’s 10 towers a few minutes west at Brentwood, and Station Square’s fourth tower at Metrotown.

Elsewhere in North Vancouver, for instance, 164-unit Green on Queensbury has just been launched by Qualex Landmark Northern Limited Partnership as North Vancouver opens up its Moodyville neighbourhood, formerly a collection of post-war single- family homes, to denser development.

Such development will also feature new innovations such as passive heating and the “lock-off suite,” which the city of North Vancouver began promoting a couple of years ago by offering developers density bonuses, says Greg Lowe, of rareEarth Project Marketing. His firm’s client, Evolv, is building a 36-unit townhouse development on Moody Avenue that will feature lock-off suites for three- and four-bedroom homes. The 300- or 500-square-foot self-contained suites, complete with kitchenettes, can be legally rented out monthly or used by family members, depending on the buyer’s needs, he said. The sales centre on lower Lonsdale, now open by appointment, is scheduled to open to the public later this month.

Meanwhile, in neighbouring Burnaby, large developments such as Ledingham McAllister’s multi-tower Southgate City are not expected to be launched until 2018, but other developers have already jumped into the fall market. Townline’s Sussex is a 321-unit, 41-storey tower to be located a short walk to Metrotown’s SkyTrain station and the Metropolis mall. It launched in August and sales have been brisk, with limited inventory of one-, two- and three-bedroom homes still available.

Elsewhere in Burnaby, development continues on Burnaby Mountain at SFU with Intergulf’s Terraces at The Peak, a 117-unit complex that offers both residential and investment opportunities in the campus neighbourhood.

Michael Ferreira, a partner in Urban Analytics, says lower inventory is a dominant theme in this year’s housing market. “The number of sales in the first half of this year were lower than they were last year, but that wasn’t necessarily a reflection of any drop in demand; moreso, it was just a lack of supply.” About 87 per cent of all 6,050 units released in the first half of the year have sold, a high ratio of sales to releases. That release is 44 per cent less than new units released in the first six months of 2016, a drop he attributed to delays in municipal approval times.

Ferreira notes that Burnaby is a market where demand is extremely high, which leads to “pent-up demand” continuing to build as new buyers come into the marketplace. With such conditions, per-square-foot sales prices have risen from $970 a square foot for projects launched in 2016 to new highs of $1,100 a square foot this fall, he said.

In Richmond, Landa Global Developments is poised to launch sales of Cascade City, 273 units in two mixed-use towers sharing a podium and located near the many amenities of Richmond Oval and walking and biking paths on the banks of the Fraser River.

Within Vancouver proper, where suitable land for development is becoming an even more scarce commodity, Create Properties is set to begin sales of its 233 homes at its Second + Main development, while Grosvenor Americas has begun marketing The Pacific, a 39-storey tower with 214 units at Pacific and Hornby. Meanwhile, Chard Developments will begin selling 58 units in a seven-storey development south of the Olympic Village called Elenore on Fifth.

McNeill notes that some of the best values — in places where land values are still within reason — may be found in the less obvious places, such as Squamish.

Neither McNeill nor Brown see the recent interest rate increases having an appreciable impact on this fall’s sales. However, both do see the stress testing imposed on lenders by federal authorities — whereby borrowers must be able to show they can shoulder higher payments should rates increase — could have an effect in the new year.

Meantime, Jason Turcotte of Cressey Developments has a word of warning for buyers this season: make sure the developer you purchase from has a track record for seeing their projects completed.

“It’s no different from buying a car. You wouldn’t buy a car from a car company you’ve never heard of. Know you are buying from someone who has the means to see these projects through.”

© 2017 Postmedia Network Inc.

LIBERATING HUMANITY, OR ABANDONING IT?

Saturday, September 16th, 2017

The giants of technology keep inventing ways to control our lives. Franklin Foer fears we?ll hit a point where we won?t be able to recover the individuality that?s been taken away.

The Vancouver Sun

Until recently, it was easy to define our most widely known corporations. Any third-grader could describe their essence. Exxon sells oil; McDonald’s makes hamburgers; Walmart is a place to buy stuff. This is no longer so.

Today’s ascendant monopolies aspire to encompass all of existence. Google derives from googol, a number (1 followed by 100 zeros) that mathematicians use as shorthand for unimaginably large quantities. Larry Page and Sergey Brin founded Google with the mission of organizing all knowledge, but that proved too narrow. They now aim to build driverless cars, manufacture phones and conquer death. Amazon, which once called itself “the everything store,” now produces television shows, owns Whole Foods and powers the cloud. The architect of this firm, Jeff Bezos, even owns the Washington Post.

Along with Facebook, Microsoft and Apple, these companies are in a race to become our “personal assistant.” They want to wake us in the morning, have their artificial intelligence software guide us through our days and never quite leave our sides. They aspire to become the repository for precious and private items, our calendars and contacts, our photos and documents. They intend for us to turn unthinkingly to them for information and entertainment while they catalogue our intentions and aversions. Google Glass and the Apple Watch prefigure the day when these companies implant their artificial intelligence in our bodies. Brin has mused, “Perhaps in the future, we can attach a little version of Google that you just plug into your brain.”

More than any previous coterie of corporations, the tech monopolies aspire to mould humanity into their desired image of it. They think they have the opportunity to complete the long merger between man and machine — to redirect the trajectory of human evolution. How do I know this? In annual addresses and town hall meetings, the Founding Fathers of these companies often make big, bold pronouncements about human nature — a view that they intend for the rest of us to adhere to. Page thinks the human body amounts to a basic piece of code. “Your program algorithms aren’t that complicated,” he says. And if humans function like computers, why not hasten the day we become fully cyborg? To take another grand theory, Facebook chief Mark Zuckerberg has exclaimed his desire to liberate humanity from phoniness, to end the dishonesty of secrets.

“The days of you having a different image for your work friends or co-workers and for the other people you know are probably coming to an end pretty quickly,” he has said. “Having two identities for yourself is an example of a lack of integrity.”

Of course, that’s both an expression of idealism and an elaborate justification for Facebook’s business model.

There’s an oft-used shorthand for the technologist’s view of the world. It is assumed that libertarianism dominates Silicon Valley, and that isn’t wholly wrong. High-profile devotees of Ayn Rand can be found there. But if you listen hard to the titans of tech, it’s clear that their world view is something much closer to the opposite of a libertarian’s veneration of the heroic, solitary individual. The big tech companies think we’re fundamentally social beings, born to collective existence. They invest their faith in the network, the wisdom of crowds, collaboration. They harbour a deep desire for the atomistic world to be made whole. (“Facebook stands for bringing us closer together and building a global community,” Zuckerberg wrote in one of his many manifestos.) By stitching the world together, they can cure its ills.

Rhetorically, the tech companies gesture toward individuality — to the empowerment of the “user” — but their world view rolls over it. Even the ubiquitous invocation of users is telling, a passive, bureaucratic description of us.

The big tech companies (the Europeans have lumped them together as GAFA: Google, Apple, Facebook, Amazon) are shredding the principles that protect individuality. Their devices and sites have collapsed privacy; they disrespect the value of authorship, with their hostility toward intellectual property.

In the realm of economics, they justify monopoly by suggesting that competition merely distracts from the important problems like erasing language barriers and building artificial brains. Companies should “transcend the daily brute struggle for survival,” as Facebook investor Peter Theil has put it.

When it comes to the most central tenet of individualism — free will — the tech companies have a different way. They hope to automate the choices, both large and small, we make as we float through the day. It’s their algorithms that suggest the news we read, the goods we buy, the paths we travel, the friends we invite into our circles.

It’s hard not to marvel at these companies and their inventions, which often make life infinitely easier. But we’ve spent too long marvelling. The time has arrived to consider the consequences of these monopolies, to reassert our role in determining the human path. Once we cross certain thresholds — once we remake institutions such as media and publishing, once we abandon privacy — there’s no turning back, no restoring our lost individuality.

Over the generations, we’ve been through revolutions like this before. Many years ago, we delighted in the wonders of TV dinners and the other newfangled foods that suddenly filled our kitchens: slices of cheese encased in plastic, oozing pizzas that emerged from a crust of ice, bags of crunchy tater tots. In the history of man, these seemed like breakthrough innovations. Timeconsuming tasks — shopping for ingredients, tediously preparing a recipe and tackling a trail of pots and pans — were suddenly and miraculously consigned to history.

The revolution in cuisine wasn’t just enthralling. It was transformational. New products embedded themselves deeply in everyday life, so much so that it took decades for us to understand the price we paid for their convenience, efficiency and abundance. Processed foods were feats of engineering, all right — but they were engineered to make us fat. Their delectable taste required massive quantities of sodium and sizable stockpiles of sugar, which happened to reset our palates and made it harder to sate hunger. It took vast quantities of meat and corn to fabricate these dishes, and a spike in demand remade American agriculture at a terrible environmental cost. A whole new system of industrial farming emerged, with penny-conscious conglomerates cramming chickens into feces-covered pens and stuffing them full of antibiotics. By the time we came to understand the consequences of our revised patterns of consumption, the damage had been done to our waistlines, longevity, souls and planet.

Something like the midcentury food revolution is now reordering the production and consumption of knowledge. Our intellectual habits are being scrambled by the dominant firms. Giant tech companies have become the most powerful gatekeepers the world has ever known. Google helps us sort the internet, by providing a sense of hierarchy to information; Facebook uses its algorithms and its intricate understanding of our social circles to filter the news we encounter; Amazon bestrides book publishing with its overwhelming hold on that market.

Such dominance endows these companies with the ability to remake the markets they control. As with the food giants, the big tech companies have given rise to a new science that aims to construct products that pander to their consumers. Unlike the market research and television ratings of the past, the tech companies have a bottomless collection of data, acquired as they track our travels across the Web, storing every shard about our habits in the hope that they may prove useful. They have compiled an intimate portrait of the psyche of each user — a portrait that they hope to exploit to seduce us into a compulsive spree of binge clicking and watching. And it works: On average, each Facebook user spends one-sixteenth of their day on the site.

In the realm of knowledge, monopoly and conformism are inseparable perils. The danger is that these firms will inadvertently use their dominance to squash diversity of opinion and taste. Concentration is followed by homogenization. As news media outlets have come to depend heavily on Facebook and Google for traffic — and therefore revenue — they have rushed to produce editorials that will flourish on those platforms. This leads to a duplication of the news like never before, with scores of sites across the internet piling onto the same daily outrage. It’s why a picture of a mysteriously coloured dress generated endless articles, why seemingly every site recaps “Game of Thrones.” Each contribution to the genre adds little, except clicks. Old media had a pack mentality, too, but the internet promised something much different. And the prevalence of so much data makes the temptation to pander even greater.

This is true of politics. Our era is defined by polarization, warring ideological gangs that yield no ground. Division, however, isn’t the root cause of our unworkable system. There are many causes, but a primary problem is conformism. Facebook has nurtured two hive minds, each residing in an informational ecosystem that yields head-nodding agreement and penalizes dissenting views. This is the phenomenon that the entrepreneur and author Eli Pariser famously termed the “Filter Bubble” — how Facebook mines our data to keep giving us the news and information we crave, creating a feedback loop that pushes us deeper and deeper into our own amen corners.

As the 2016 presidential election so graphically illustrated, a hive mind is an intellectually incapacitated one, with diminishing ability to tell fact from fiction, with an unshakable bias toward party line. The Russians understood this, which is why they invested so successfully in spreading dubious agitprop via Facebook. And it’s why a raft of companies sprouted — Occupy Democrats, the Angry Patriot, Being Liberal — to get rich off the Filter Bubble and to exploit our susceptibility to the lowest-quality news, if you can call it that.

Facebook represents a dangerous deviation in media history. Once upon a time, elites proudly viewed themselves as gatekeepers. They could be sycophantic to power and snobbish, but they also felt duty-bound to elevate the standards of society and readers. Executives of Silicon Valley regard gatekeeping as the stodgy enemy of innovation — they see themselves as more neutral, scientific and responsive to the market than the elites they replaced — a perspective that obscures their own power and responsibilities. So instead of shaping public opinion, they exploit the public’s worst tendencies, its tribalism and paranoia.

During this century, we largely have treated Silicon Valley as a force beyond our control. A broad consensus held that lead-footed government could never keep pace with the dynamism of technology. By the time government acted against a tech monopoly, a kid in a garage would have already concocted some innovation to upend the market. Or, as Google’s Eric Schmidt, put it, “Competition is one click away.” A nostrum that suggested that the very structure of the internet defied our historic concern for monopoly.

As individuals, we have similarly accepted the omnipresence of the big tech companies as a fait accompli. We’ve enjoyed their free products and next-day delivery with only a nagging sense that we may be surrendering something important. Such blitheness can no longer be sustained. Privacy won’t survive the present trajectory of technology — and with the sense of being perpetually watched, humans will behave more cautiously, less subversively. Our ideas about the competitive marketplace are at risk. With a decreasing prospect of toppling the giants, entrepreneurs won’t bother to risk starting new firms, a primary source of jobs and innovation. And the proliferation of falsehoods and conspiracies through social media, the dissipation of our common basis for fact, is creating conditions ripe for authoritarianism. Over time, the long merger of man and machine has worked out pretty well for man. But we’re drifting into a new era, when that merger threatens the individual. We’re drifting toward monopoly, conformism, their machines. Perhaps it’s time we steer our course.

© 2017 Postmedia Network Inc.

BC market sees sluggish end of summer stats

Friday, September 15th, 2017

Canadian Real Estate Wealth

Prices may be recovering, but buyers in British Columbia just aren’t as enthusiastic as they once were.

“BC home sales in August remained unchanged from July, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Strong economic conditions are underpinning demand.

However, rising home prices combined with upward pressure on mortgage interest rates is expected to temper demand over the balance of the year.”

Unit sales are down year-to-date in 67% of British Columbia’s markets, according to the British Columbia Real Estate Association, with Vancouver seeing the most precipitous decline at -20.3% YTD.

Overall, the province has seen a total of 73,267 sales this year, down 15% YTD. 

The average price of a home in the province — $706,839 — is also down this year by 1.1% YTD.

Dollar volume is also down.

“Year-to-date, BC residential sales dollar volume was down 15.9% to $51.8 billion, when compared with the same period in 2016,” BCREA said in a release. “Residential unit sales declined 15.0 % to 73,267units, while the average MLS residential price was down 1.1%to $706,839.”

The silver lining, however, is that the average price is up in 11 of 12 of BC markets, with Vancouver experiencing the only drop in average price.

It should be noted that these declines could be the result of Vancouver’s foreign buyer tax, which was implemented in August of last year. That, and the market has obviously been impacted by last year’s federal mortgage rule changes as well.

Copyright © 2017 Key Media Pty Ltd