Lure of Squamish piques interest
April 25, 2008
Lure of Squamish piques interest
By SUSAN M. BOYCE, 24 HOURS vancouver.24hrs.ca
2010. The buzzword of the province. And as speculation about all things real estate runs rampant, there are few municipalities where the impact of this almost magical number is being felt more than in Squamish.
The self-proclaimed Outdoor Recreation Capital of Canada, Squamish is seeing prices skyrocket.
According to the Real Estate Board of Greater Vancouver, in 2007, housing prices in this suburban community climbed faster than any others in the Lower Mainland.
New construction finishing details are going beyond upscale to become unabashedly luxurious, and an exploding number of urbanites giving in to their fascination with the active lifestyle.
Multi-family developers are responding with innovative, targeted amenities including on-site bike and kayak storage, built-in wine fridges, and even a rock climbing wall (found at Red Point – a 185-unit condo development located just south of the Mamquam Tidal Channel).
Coastal Village, a multi-phased, six-acre, master-planned community on the banks of the estuary, is incorporating the community’s first public swimming pool into its design as well as what builder Thomas Ivanore, president of Bel Tar Holdings, says is the most technologically advanced dike system in the province.
Just down the road, Streams, part of Solterra’s Eaglewind development, boasts tennis courts, sports lawns, and the Yaletown-styled finishing that are now de facto standards.
Single-family developments are equally lavish.
Thunderbird Creek by Townline Homes, and University Heights by University Heights Developments come with an attention to detail, square footage and quality that rival tony neighbourhoods like West Vancouver or Shaughnessy.
And while increased demand is clearly driving prices up, Squamish still represents a value many consider better than equivalent suburbs to the east of Vancouver.
Neat, tidy homes with some age can be found for under $450,000, and for $600,000 you’ll get most of the bells and whistles plus a minimum of 2,500 square feet of living space – typically much more.
A mansion of 5,550 square feet is currently listed for $1.5 million – a fraction of the cost if the same home was to be located in the British Properties.
Apartments offer the broadest range of product both in new and resale.
Older, solid and often renovated units are still available for under $250,000.
But with new condos now starting in the $350,000 range, many are choosing the security of a home warranty and contemporary design.
Penthouses at Aqua are currently at the top of the scale, with a price tag of up to $820,000 for more than 2,100 square feet.
Townhouses, the most limited market choice, are available for less than $350,000 if you look.
But as with condominiums, the allure of new construction for as little as $100,000 more is tough to ignore.