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TELUS GARDEN at a Glance

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TELUS GARDEN at a Glance

TELUS Garden Quick Facts

The anticipation is growing as the opportunity to cultivate a new way of living in one of 428 new homes at TELUS Garden (at Richards and Robson) grows near. Jointly developed by TELUS and developer Westbank (Woodward’s re-development, Fairmont Pacific Rim, and Living Shangri-La), the one-million square foot development will be an amenity-rich building with environmentally sensitive design.

With architecture by Vancouver-based firm Henriquez Partners Architects, TELUS Garden will transform and revitalize the Robson block with this development, which includes a new 24 floor, 500,000 square foot signature office tower and a new 53 floor, 450,000-square foot residential tower, with a three-level retail podium with shops, services, and amenities, plus a public plaza.

TELUS Garden will offer a spectrum of homes from affordable one-bedrooms to luxurious Signature Suites and Penthouses featuring contemporary design and open concept interiors by The Design Agency, Miele-equipped kitchens and Terrazzo-tiled baths. Residents will enjoy TELUS’ advanced communications technology, including TELUS Optik TV, Optik High Speed internet and home phone services as well as tranquil gardens. An expansive wellness centre will also be on site with a gym, swimming pool and yoga facilities.

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Nearly %50 of B.C.’s most expensive homes secretly owned

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Nearly %50 of B.C.’s most expensive homes secretly owned

Critics say the B.C. government must work to close loopholes that allow homeowners in the province to hide their identities behind false fronts such as shell companies.

NDP housing critic David Eby and Green MLA Andrew Weaver called for changes after reading about a Transparency International report that slams Canada for failing to close loopholes that allow homes to be owned through shell companies, trusts and nominees. The report shows almost half of Vancouver’s 100 most expensive houses were bought using shell companies or other methods that obscure the identity of the owners.

Report author Adam Ross found that use of tactics to obscure ownership has increased in the past five years in B.C.  He also concluded the prevalence of opaque ownership in B.C. luxury real estate makes it impossible to measure how much offshore cash is invested in B.C. homes, even though B.C. is attempting to collect data on foreign ownership.

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First-time buyer zero-interest loan program potentially make the B.C.’s real estate market hot again

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First-time buyer zero-interest loan program potentially make the B.C.’s real estate market hot again

British Columbia’s new assistance program for first-time home buyers has the potential to bolster a segment of the property market that has stayed strong in the midst of sliding sales, according to one market observer.

“The net impact (of the program), it does draw more people into the market, into the condo and town home market,” said Bryan Yu, senior economist with Central 1 Credit Union.

However, while sales have dropped off in the market for pricier single-family homes, Yu said the more affordable condominium and town home segments of the market have remained more active.

And that additional demand could push “upside pressure on pricing,” Yu said, because the multi-family housing sector is still struggling with a lack of supply to meet demand.

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