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

MAPLE RIDGE PITT MEADOWS FRIDAY, JULY 24, 2015info@rew.ca • 604-435-7977

Buyers looking for the benefi ts a detached home off ers without the hassle of maintenance – or

the exorbitant prices – are turning in increasing numbers to new townhouse developments.

Sales of townhomes currently account for 60 to 70 per cent of new home trans-actions in the Fraser Valley. Townhouse sales in that region jumped nearly 21 per cent in May 2015 compared with the previous May. Those numbers would likely be mirrored in Metro Vancouver except for the limited supply of new townhomes in many of that region’s municipalities. Even so, there were 733 townhouse sales across Metro Vancouver in May 2015 – an increase of 34 per cent compared with May 2014.

What’s Driving Sales?“Townhomes appeal to a broad seg-

ment of the market... people who want to own a home but not an apartment,” says Scott Brown, president of Fifth Avenue Real Estate Marketing, a resi-dential real estate sales and project marketing organization. “They want to build equity and have children, but they don’t want such a big fi nancial burden that they can’t aff ord a vacation.”

Michael Ferreira, managing princi-pal at Urban Analytics, a real estate

and urban planning consultant fi rm, says aff ordability is the primary driver. “Townhomes are fairly aff ordable, espe-cially in the Fraser Valley,” he says. “It’s the next best thing to a single-family home: you have your own front door, outdoor space, a garage, multi-levels. It’s a no brainer.”

Real estate consultant and urban planner Michael Geller notes townhous-es are popular with buyers across vari-ous demographics.

“Many empty nesters aren’t ready for an apartment. And for those mov-ing up from an apartment, single-family houses are simply not aff ordable. They see townhouses as an attractive alterna-tive.”

Product InnovationTownhouses have traditionally been

skinny, three-storey buildings with tan-dem garages. But designs are changing and bringing more people to the market.

“Developers are constantly making notes on unfulfi lled needs expressed by prospective buyers at their presentation centres,” says Brown. “Masters on the main fl oor have come about because of aging consumers telling developers they want that and that they don’t like three storeys with all the stairs.”

Rooftop amenities that accommodate

outdoor living are also popular. One Langley site, Exchange, has enjoyed such strong sales the developer has accelerated construction to keep up with demand.

“Exchange’s rooftop decks replace the traditional patch of grass a townhouse off ers,” says Ferreira. “You’re locked in with three neighbours but you still have outdoor space.”

It’s not just the Fraser Valley that’s seeing this trend. Marcon, a Vancouver developer, currently has two townhome projects in the design stages – one along Granville Street with 18 homes and one just off Cambie with 24 homes. To date, they’ve built hundreds of townhomes across the Lower Mainland, including the Century Signature and Westchester developments, both in Vancouver.

“In the past two years there has been a major shortage of townhomes in Vancouver, which has resulted in fast absorption rates and higher prices,” says Nic Paolella, Marcon’s develop-ment manager.

Strata Vs. Non-StrataMost townhouses are strata-titled,

with purchasers becoming members of a condominium association. But not all buyers want the associated strata main-tenance fees and restrictions. While

they are still the exception rather than the rule, there is an emerging demand for non-strata townhouse developments.

Parkside (pictured) and Bedford Landing in Langley are fee-simple proj-ects. And Aragon Homes built a non-strata row house development in New Westminster’s Port Royal community. These projects proved to be highly mar-ketable and more are sure to follow.

The Townhouse MindsetThe demand for townhouses is not

going to decrease any time soon. Fifth Avenue Real Estate Marketing cites a recent survey of more than 40 indus-try leaders. More than 96 per cent of them believe the townhouse sector will continue to advance to meet growing consumer demand.

“It’s going to be the standard mindset for the next 10 to 15 years,” says Brown. “We need to be greener and we need to squeeze more homes onto available land without compromising lifestyle. Townhouses are the alternative that best meets the needs of multiple part-ners.”

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•2 REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 24, 2015

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•4 REW.ca » MAPLE RIDGE / PITT MEADOWS » FRIDAY JULY 24, 2015MAPLE RIDGE • PITT MEADOWS (INCLUDES MISSION LISTINGS)

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

Looking for a newhome? Start here.

F R I D A Y , J U L Y 2 4 , 2 0 1 5

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

Building Vancouver’s Eco-Friendly Houses

Nick Kerchum’s journey to success as an award-winning home builder in Vancouver meant setting a new standard for eco-friendly developments.

He founded Natural Balance Premium Home Builders in 2009 with a fresh emphasis on both contemporary design and environmental preservation

without sacrifi cing quality. Five years ago, Natural

Balance, with architect Frits de Vries, built the fi rst LEED Platinum house in British Columbia on West 21st Avenue in Vancouver (see below).

More recently, his company’s project on West 15th Avenue in Vancouver connected the split-level home with surround-ing topography, including pic-turesque downtown views and optimum solar exposure. Strategically placed overhangs enabled light from the sun to fl ow into the home, and pas-sive design principles were employed to naturally heat and cool.

“It was a really fascinat-ing design because the lot is sloped,” Kerchum said. “The split-level home is celebrated by huge pieces of glass, bringing a lot of light into the centre of the house. The exterior has been molded to provide privacy from the neighbourhood while maxi-mizing downtown views. A study

was done to understand how the sun would aff ect the home.”

And it was all done with sus-tainability in mind. As certifi ed green builders, Natural Balance consults with an independent third party advisor to ensure all the homes it builds meet or exceed city code.

During preliminary consulta-tions with clients, Kerchum and his staff create energy models and sustainability reports that result in a series of tailor-made recommendations for clients. Customers can select design fea-tures such as insulation types, window styles, and mechani-cal systems that impact perfor-mance and cost of their home.

“The goal is to cost eff ectively increase the energy effi ciency of the house,” Kerchum said. “You can show the client what their return on investment is.”

Building a LEED Platinum House

Natural Balance, with archi-

tect Frits de Vries, built Western Canada’s fi rst LEED (Leadership in Energy and Environmental Design) Platinum home. Here is how they did it:

Passive Solar Design: The house is designed to maximize passive solar gain allowing for natural heating and cooling, reducing the need for mechani-cal systems. Entire main fl oor uses natural basalt stone which holds a signifi cant amount of thermal mass.

Infl oor radiant heat with an air-to-water heat pump: A new technology from Europe is a cost eff ective way to be deliver home heating.

Evacuated roof top solar tubes: These are used to spe-cifi cally heat the domestic hot water.

Triple-glazed Fresinger win-dows: German made and consid-ered among the most effi cient on the planet. The house has a huge amount of glass yet still remains effi cient with low heat loss.

Icenine spray foam insulation:

Used in all wall cavities.Natural ventilation and

a heat-recovery ventilator: Design allows for natural cross-ventilation in summer months, all mechanical air-handling systems tested and monitored to meet LEED for Homes certifi cation.

Green roofs: Four green roofs, including on the garage, for water retention, energy savings and a sanctuary for bees and birds.

Lighting: LED bulbs with automatic switch-off .

Green landscaping: Drought-tolerant, non-invasive planting and a garden with vegetables, fruit and herbs.

Water saving: Dual-fl ush toi-lets and low-fl ow plumbing fi x-tures.

Health: FSC (Forest Stewardship Council) certifi ed (urea formaldehyde free) mill-work and cabinets. No VOCs (volatile organic compounds) in paints and millwork coatings throughout the house.

By Michael Vanden Bosch