59 - Friday, December 19, 1986 — North Shore News 77 CONDOMINIUMS FROM ALL OF US& TO ALL OF YOU WE WISH YOU THE BEST OF CHRISTMAS 706 EAST 7th STREET 984-0421 * try ‘21 UPPER DELBROOK-VIEW. ; 400 MONTERAY AVENUE iJust listed at a very sharp price -— this ful ly finished family home boasts toads of ac- commodation on a low maintenance city VIEW lot. Vacant — bring offers please! 3 SOREN FREDERIKSEN 984-0421 fireplaces. PRESIDENT of Psiygon Development Ltd. mi BN \‘ In all, 140 units are : - BG Michael Audain says interest has been over- ; scheduled to be built on the i CHRISTMAS lainy in ini whetining ia the 77 condominium apartments that ¢.oher Farm property. his company is now building on the historic All the apartments will Stoker Farm at Lonsdale and 29th Avenue in feature a 24-hour intruder North Vancouver. protection system and two And to all a good holiday season, emergency call buttons for along with our sincere gratitude. medical emergencies. Recreation facilities in- clude a swimming lap pool, many ed information and floor plans can be studied on an “We knew that North Shore couples and in- dividuals approaching retirement had been looking fot an opportunity to downsize from their single homes to condominiums designed for mature adults, but we are frankly surprised how quickly the waiting list has built up,’’ Audain said. ‘*We now have over 726 in- dividuals and couples who have told us that they are definitely interested in buy- ing at Somerset Green, the new name for the develop- ment.” To handle the demand, Audain said Polygon has opened a pre-sale centre at 2908 Lonsdale where detaii- appointment basis. The 77-unit first phase of Polygon’s Somerset Green is scheduled to be completed June 1987. The apartments, which range in size from 792 to 1,465 square feet, have been designed especially for peo- ple interested in moving from a single family home. Accommodation is restricted to retired people 55 and over. Design of Somerset Green emphasizes spaciousness and security and will feature European style kitchen cabi- nets, spacious ensuite bathrooms and marble faced whirlpool spa, exercise area, and a lounge. In a later phase, two guest rooms and a hobby workshop area will be built. Somerset Green will also have a concierge as well as an activities coordinator. Work began on the $15.5 million Stoker Farm development in early September. The main Stoker Farm house was built around 1906 and was torn down in December 1982. For Somerset Green in- formation call the preview centre at 986-5953. "NO CREDIT? O.K. But you do have a good job now. Here’s your chance to buy this 1 yr. old 3 bdrm townhouse. Let's discuss the details. Call me now. Vendor is anxious. JOHN ROBERTS 980-2500 22 GROUSEWOODS SPECIAL! Under $200,000 will get you this very 4 special contemporary home, on a private ¥ cul-de-sac. Still time to pick finishes! __ SOREN FREDERIKSEN 984-0421 21 CANYON HTS.-TRY $150’s! Be in this new 3 bdrm plus den home by Christmas! Popular location at a very G popular price! Carpets in, must sell! SOREN FREDERIKSEN 984-0421 ? A Gas ts wee wither as AR 4 P 35WATERFRONT WAS GOLD REMEMBER IN 1980? You couldn't pay enough. Welt thanks to fate, anc’ many tears you can afford to live on the water. For the same price as Grousewoods etc., at only $284,900. I've got it. Call for details. ACCORDING TO ROYAL LEPAGE... Fea! estate outlook remains optimistic WHILE PRESENT economic conditions are simiiar to conditions that ex- isted ir: 1980-81, immediately prior to the recession, fears that history will repeat itself are unfounded, stresses J. Chris Davis, president of Royal LePage commercial real estate services. Speaking at a _ recent meeting attended by local business people, Davis ac- “knowledged that similarities between economic condi- tions in 1986 and 1980-81 are “striking.’? As in 1980-81, momentum is high, prices are rising and yields are fall- ing in 1986. **In 1980-81, however, buying tended to be of a frenzied nature — if one did not invest immediately there simply would be no tomor- row. Interest rates were high, but then so was infla- tion. Today, I believe, in- vestors have that lingering recent memory of what can happen and are considering the basic locational, absorp- tion aud income aspects more carefully. Given that, ane continued economic stability, the present positive teg of the real estate cycle will continue through 1987 and into 1988,’’ forecasts Davis. REGIONAL DISPARITIES That does not mean, how- ever, that the Canadian real estate market will be free from uncertainty during the next 12 months. Noting the severe disparities which exist between regions of Canada, Davis cautions that it is “impossible to generalize, with any degree of accuracy, on Canadian commercial real estate markets.’ “While retail and in- dustrial markets appear to be consistently healthy across the country, the in- consistencies far outweigh them. The .same conditions that have fueled booming economies in populous manufacturing and service centres have caused increas- ing trauma in areas depen- dent on oil and gas,’’ ex- plains Davis. “In metropolitan Toron- to, for example, boom con- ditions are being experi- enced. Demand for in- dustrial product has spurred speculative development and a land trading market not seen for ten years. Consumer confidence and employment opportunities has caused _seemingly insatiable demand for housing and retail development. Toronto's of- fice market continues to be one of the healthiest in North America and invest- ment in apartments is much in demand in spite of rent controls.”” In Montreal, a business fenaissance is attracting renewed investor confidence. A massive redevelopment of retail space in Montreal's core reflects pent-up demand and major manufacturing and engineering concerns serving export markets are supporting a growing in- Gustrial market. In the aftermath of Expo 86, Vancouver remains at- tractive to investors. While office vacancies are high as a result of an unprecedented three-year building boom, Davis says a more balanced supply/demand situation is projected beginning in 1987. As well, the infrastructure development promised by the current high demand for industrial space and build- to-suit facilities, is reassur- ing, he adds. In contrast, the Canadian disparity becomes ‘‘apparent and disconcerting’’ when one examines conditions in Alberta. ‘Properties are being ac- quired at bargain prices, both in terms of leasehold and investment. These bargains will pay off hand- somely when energy prices inevitably recover,’’ stresses Davis. In addition to grappling with the “east-west differen- tial’’, says Davis, the Cana- dian real estate market un- doubtedly will be impacted by ,events in the United Statds. In particular, the re- cent U.S. Tax Reform Act will have a significant impact on investing in real estate. ‘Severe overbuilding, particularly in energy cities, resulted from the previous tax treatment enacted in 1981."" JOHN ROBERTS 980-2500 TAKE OVER 426 EAST 6TH ST. , Nearly gone. This oldie is great. As a mat- ter of fact | need to list 2 more fike it in the "Grand Bivd. area”. If you're selling please cail. Your inquiry will be he!d in confidence. JOHN ROBERTS 980-2500 LOWER DELBROOK Bright spacious (970 sq.ft.) family oriented garden apt. with 6% acres of gorgeous landscaped grounds plus pool, sauna etc. Close to transportation. schools, shopping & JOHN NOEL 987-9884 NEW — TRY $120’s! fe, Last one at this price! Builder wants this " accommodating 3 bdrm, bsmt home sold by Dec. 31. Let's help him with that first very sharp offer! SOREN FREDERIKSEN 984-0421 27 TEMPE HTS. TUDOR Have this very special family home finish- ed to your specifications! Sunny corner location & excellent value from one of our be: 27 Near new, this split level design boasts ex- st builders. Offers! SOREN FREDERIKSEN 984-0421 TEMPE HTS. CHILD SIZE LOT 685 WILDING PLACE . cellent accommodation with 5 bdrm & bright bsmt area. Set on a big pool! size Jot too! immediate poss.! SOREN FREDERIKSEN 984-0421 35 Peake as a DEEP COVE VIEW! And it's a good one too! Overlook the sailboat races from this 4 bdrm, 5 level contemporary home. Nearly new & very g well priced. Please view with SOREN FREDERIKSEN 984-0421