Tower TWO residences at The City of Lougheed are now previewing in vibrant Burnaby, BC

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Set to become Canada’s largest new master planned community, homes at The City of Lougheed are now previewing in Burnaby, British Columbia. The 37-acre community by SHAPE will boast unique neighbourhoods, over 20 high-rises with up to 10,000 new homes, plus shops, restaurants, parks and a new transit exchange — all within an area the size of 16 city blocks. It will be split into different neighbourhoods for diverse experiences, with some areas that feel like downtown, and others that are designed for a quieter lifestyle. Inspired by world class cities and located at the centre of Metro Vancouver, The City of Lougheed is central and connected.

Today, The City of Lougheed is a regional shopping centre with a unique location along rapid transit. Over the short and long term future, it will evolve into a complete and authentic city. To begin, updates are in progress within the shopping centre with construction on its first residential neighbourhood underway.  

This summer, over 450 residences in Tower TWO are coming to the market as part of The First Neighbourhood, which will include a total of 1,500 homes across four signature towers. The First Neighbourhood combines the master planning expertise of SHAPE and James K Cheng Architects, along with the building design of GBL Architects. Residents of Tower TWO will be able to access an urban grocer and street-facing shops and cafes with spill-out patios from their doorstep. These new modern conveniences will form one side of the Main Boulevard, which will be the future tree-lined main street through The City of Lougheed. As the site’s brightest thoroughfare, it will also include cycling tracks and wide sidewalks to connect all corners of the neighbourhood.

The City of Lougheed will be brought to life year-round with an abundance of entertainment and exciting events. From fashion shows to live music, residents can find it all within their own neighbourhood. Tastefully curated public markets will be on display and seasonal celebrations will invoke the holiday spirit.

Tower TWO, The First Neighbourhood’s second 47-storey high-rise, features globally-inspired architecture that showcases SHAPE’s signature standard for superior interior design. One-, two- and three-bedroom homes will boast an open-plan design that allows ample natural light to brighten the entire living space. Thoughtfully-designed, the homes will include side-by-side washer and dryers, smart outlets, recessed lighting and elegant design elements. All homes will feature large terraces that wrap around the exterior of the building to provide residents with an indoor/outdoor living experience. These terraces offer stunning views of Simon Fraser University, downtown Vancouver, Burnaby Lake and the North Shore Mountains.

The expertly planned kitchens are timeless and modern with three luxurious colour schemes. Designed in an L-shape, the kitchens are flexible and spacious with room for multiple chefs, and a kitchen island creates more space for food prep. Thoughtful details include a storage pantry, recessed lighting and a marble herringbone backsplash. The kitchens are equipped with integrated Bosch appliances and full-height cabinetry for thirty per cent more storage space than many new homes.

The First Neighbourhood boasts 18,000 square feet of amenity space spanning three levels for residents to enjoy year-round. Inside, residents can organize game nights and table tennis tournaments in the billiards area and lounge, enjoy yoga and pilates in the state-of-the-art fitness rooms and can host events in the private lounges, equipped with full kitchens. Outdoors, residents can watch the sunsets and breathe fresh air on the facility’s rooftop, complete with a lounge and dining area, barbecues and community garden plots.

Tower TWO is scheduled for completion in 2022. Interested buyers are encouraged to register here for the latest details or visit the sales centre located at 9850 Austin Road, in Burnaby. The centre is open daily from noon to 6pm, except Fridays.

© 2018 BuzzBuzzHome Corp.

July home sales lowest in 18 years

Beth Leighton
Canadian Real Estate Wealth

Home sales in July across Metro Vancouver tumbled to their lowest level in 18 years in statistics compiled by the real estate board, but prices remained steady since last month.

The Greater Vancouver Real Estate Board says 2,070 properties changed hands in July, a 30 per cent plunge when compared with July of last year and about 29 per cent below the 10-year sales average for the month.

The number of condos, townhomes and detached houses listed for sale were up 32 per cent year-over-year, and 1.6 per cent since June.

The real estate board says the benchmark price for all residential properties was just under $1.1 million, a 6.7 per cent hike over July 2017 but a slip of 0.6 per cent since June.

Board president Phil Moore says the number of sales to active listings across Metro Vancouver last month was pegged at almost 10 per cent for detached homes, 20 per cent for townhomes and about 27 per cent for condos.

Analysts expect downward pressure on prices when the ratio dips below 12 per cent, while property prices tend to climb when it is over 20 per cent.

Moore said there’s less upward pressure on home prices across the region.

“This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years,” Moore said in a news release on Wednesday.

Real estate board data shows July sales of single detached homes plunged nearly 33 per cent compared with July of last year, while the almost $1.6 million benchmark price slipped 1.5 per cent over the same period and is down 0.6 per cent since June.

Sales of condos decreased 26.5 per cent year-over-year while sales of townhomes fell by almost 35 per cent, but both property types have seen price hikes above 12 per cent since last July.

The benchmark price is $700,500, for a condo and $856,000 for a townhome, but the board says prices for condos and townhomes have slipped about 0.5 per cent since June.

“With increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being,” Moore said. 

The Canadian Press

Copyright © 2018 Key Media Pty Ltd

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