R E A L E S T A T E W E E K L Y

BURNABY NEW WESTMINSTER FRIDAY, AUGUST 14, 2015info@rew.ca • 604-435-7977

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NEWS AND ADVICE

Vancouver Real EstateSales Soar by 30% in July;

Prices Up 11.2%: Board

Harper Announces Permanent Home

Renovation Tax Credit

Hottest July on Recordfor Fraser Valley Home

Sales: FVREB

It’s where fi ve of Vancouver’s favourite neighbourhoods rub shoulders – the convergence of Yaletown, Gastown,

Chinatown, False Creek and downtown. Yet despite its unique waterfront setting, Crosstown has as yet never developed a clear sense of identity. True, sporting and cultural events like the Stanley Cup, Cirque du Soleil or rock concerts attract big crowds to BC Place and Roger’s Arena… but few of those fans remain after the fi nal curtain call or shoot-out.

However, over the past few years, change is defi nitely in the air. And Kevin Hoff man, senior vice-president of the Aquilini Group, is one of the many industry insiders who are excited that, after well over three decades, Crosstown is fi nally fi nding its stride as the city’s sports and entertainment district.

Mixed-Use and Resort DevelopmentThe company has already completed

Aquilini Centre West, a 26-storey tower that connects directly to the Rogers Arena con-course and is the fi rst of three purpose-built rental buildings with lower-level retail and commercial components. The south tower has broken ground, and the east tower, which will rise above the location of the cur-rent Canucks Store and give enhanced access to the stadium, is expected to be underway soon. Hoff man also notes there is a strong possibility of a fourth tower, although there

are no details yet available. Poised to become a neighbourhood high-

light is Parq Vancouver, a $600 million joint venture laying claim to becoming the province’s largest private development. This 62,000-square-foot “urban resort” will be located adjacent to BC Place and will fea-ture event and conference space including Vancouver’s largest ballroom. In addition to being the new home of the Edgewater Casino, it will house two luxury hotels – BC’s fi rst JW Marriott hotel and a Marriott International Autograph Collection hotel named The Douglas.

A VIADUCT-FREE VISIONCausing a fl urry of excitement is

Vancouver’s anticipated decision to remove the Dunsmuir and Georgia Street viaducts. Brian Jackson, general manager of planning and development services with the City of

Vancouver, says that after an intensive two-year study, the process could receive fi nal approval to move forward in September. “We are meeting weekly with Concord Pacifi c to work out details for the new road system and other infrastructure.”

The City’s post-viaduct vision is an ambi-tious one. “Once the viaduct is removed, we will be able to take Georgia Street down to grade at Pacifi c,” Jackson explains. “It will open up the entire area and will allow us to create a ceremonial street giving water-to-water access from False Creek to Lost Lagoon.” He also anticipates a Fisherman’s Wharf-style dock and boardwalk fi lled with a diverse array of restaurants and boutique retail.

RISING FROM THE GROUNDAlthough Concord Pacifi c declined to

reveal details about what will happen to its

lands under the viaducts, there’s no question this developer will remain an integral part of the fabric of this new district. One Pacifi c’s eye-catching, ocean-wave facade is now easily viewable as the 435-unit, 21-storey luxury condo building continues to rise out the ground between Cambie Bridge and BC Place – an iconic harbinger of the estimated $1.3 billion of development the company is expected to invest by the time it has built out the massive masterplanned community here.

The next phase of that will be the 620-unit Arc Vancouver, the developer’s pair of 28- and 30-storey multicoloured towers to be built opposite One Pacifi c at the north-west end of the Cambie Bridge. Three three-storey “skybridges” connecting the two towers will also contain apartment units. A plaza will run underneath the Cambie Bridge and off er a pedestrian link between Arc Vancouver and One Pacifi c, joining the developments.

“I see the same kind of untapped poten-tial in Crosstown that existed in Yaletown when it was just a few towers and the Roundhouse,” Hoff man says. “Vancouver is known for its ability to successfully cre-ate neighbourhoods with a mix of housing types, and that’s what’s happening now in Crosstown. In 10 to 12 years, I believe this will be one of Vancouver’s most diverse, lively and sought-after communities.”

What’s Happening in Vancouver’s“Entertainment District” Crosstown?

•2 REW.ca » BURNABY / NEW WESTMINSTER » FRIDAY AUGUST 14, 2015

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I n P r i n t > O n l i n e > I t ’ s A l l H e r e

Taking up the top two fl oors of the oth-erwise sold-out Maddox tower in down-town Vancouver is a spectacular, recently fi nished residence that has just come on the market for $7.8 million.

This two-storey, 3,493-square-foot “true” penthouse is the crowning jewel in Cressey’s development at 1351 Continental Street, just off Drake at the point where downtown meets Yaletown.

REW.ca was invited for a tour of the penthouse, just ahead of Cressey’s exclu-sive party at the suite for top-tier real estate agents.

REW was guided by Jason Turcotte, Cressey’s vice-president of develop-ment, who explains that only those with a security fob can access the private penthouse-level elevator corridor. For extra security, the owners can use the biometric fi ngerprint security system to close a sliding glass door between the corridor and the suite.

Inside the suite proper is a double-height lobby with fl oating steel stairs and a trio of modern steel globe chandeliers. Underfoot are 24-by-24-inch white marble tiles that stretch through to the open-plan living and dining room. This great room enjoys the best of the 360-degrees of views, facing south and west and enjoy-ing vistas over English Bay all the way to Vancouver Island.

Walking clockwise round the unit, the fl ooring changes from white marble to grey-brown hardwood as you enter the kitchen area, the highlights of which are the 18-foot quartz entertainment bar and the custom-built, 150-bottle, variable-temperature wine storage. The state-of-the art kitchen units and Sub-Zero appliances are in a recessed sec-tion that can be separated off with slid-ing frosted-glass doors – a feature sure to appeal to those who wish to keep cooking smells in their place.

Further round to the north-west corner of the unit is the family room, which leads out directly to the lower-level deck, the larger of two decks that total a staggering 2,400 square feet of outdoor living space boasting 360-degree city views. On this deck is one of two full-sized outdoor kitch-ens with huge gas range BBQ, a dining terrace and various lounging spots that are sheltered from the wind in strategic places by high glass walls.

Also on the lower level of the unit are three bedrooms (two with ensuites), a media room/den, a glass-walled corner offi ce that would be the envy of any CEO, a family bathroom, another powder room and a small laundry. The master suite itself has a huge bedroom, a dressing room with an integrated safe, and a black-marble-clad ensuite with a tub in the win-dow for spectacular city views and a walk-in shower with a giant rainshower head.

Upstairs is the larger of two laundry rooms, another powder room and access to the upper, split-level deck where the smaller of the two outdoor kitchens can be found. Up some steps, at the very top of the building, is the piece-de-resistance: a lap pool with jetted resistance for swim-ming, and a large separate hot tub. “We

know of very few penthouses that have private rooftop pools in Vancouver,” says Turcotte.

The entire penthouse is kitted out with the latest technology, including an integrated system than enables a mobile device to control the entertainment, light-ing, window coverings and Nest thermo-stat, among other elements. And down in the parkade is a private fi ve-car garage for the penthouse owners’ exclusive use, as well as extra storage space.

With its stunning fi nishings and myr-iad fi ne details, the Maddox penthouse manages pull off being opulent without being ostentatious, luxurious but also highly livable. At $7.8 million (plus near-ly $16,000 annual property taxes and $1,415 monthly strata fees), there’s no doubt that it’s an expensive piece of real estate. But it is also relatively sharply priced, considering what else is on the market at that price point.

Listing agent Malcolm Hasman told REW.ca, “I’ve seen a lot of high-end properties in my time, but this is really luxurious.”

the Luxurious New Maddox Penthouse

Photo Tour of