1 969- 4994 THE VOICE OF NORTH AND WEST VANCOUVER
7 m per ra rr

GREAT ESCAPE THE BELLEVUE
Development along Howe Columnist Trevor Lautens
Sound draws interest looks into controversial
from N. Shore residents. condo coriversion.

Office, Editorial 985-2131 Display Advertising 980-0511

(oo ais : ; — = ; — ie : =. : : ; — - " ~ _ . Apt. broker
| defends sale
of WV suites

cL Home & Garden....15 ° 2: . aon ai A BROKER working ‘on-site

ae 8 ireres sts isa Shree a at West Vancouver’s contro-
. versial Bellevue condomini-
‘ums claims negative press
“about financing for units in
the complex is unwarranted.

ry insights. soobesecsescntaeees 6

. By Kate Zimmerman
' News Reporter

“It's financed just like you
finunce accondominium,” said”
Derek Wasson, a broker under con-
tract with Hartford,:Conn.-based
Aetna Trust. “There's no problem
with the ttle.”

Until Oct. 7, the building at

2150 Bellevue Ave. was a relative-
ly affordable rental complex. On
that day,.residents received letters
- informing them that their units
were going up for sale immediately
- to individual owners by. means of
“an unusual arrangement known as’,
‘fractional interests.’ ;
“. Wasson said the alarm beils
‘ringing at West Vancouver District

; Council's Monday meeting over
fractional interests are. simply
‘ because they are a new form of title
“on the Lower Maintand, just’as
coops were 20 years ago. :

Atthe meeting, Mayor Mark:

‘Sager and other: members: of coun:
cil expressed: concern that the frac-
_ tional interests} set-up allows The |
‘Bellevue to circumvent municipal
approval and adherence to zoning |
regulations that apartment-to-
onde conversions usually require. *

Legal advisor Paul:Wilson. told

“> council. that. The Bellevue called
‘for.a complex: financing plan. with
“owners required to secure both a
first mortgage ‘with each other and

a second morgage for their financ-

On contradicted Wilson's
ation and said there was
- nothing particularly complicated
about the financing. He promised
to fax information about the finane-
‘ ing’ to the. News: Wednesday: night
"but the. material was not available
by press-time ‘Thursday.
“Pdo a lot of these (apartment to
condo) conversions,” he said,
; : ; admitting that this was the first
: : oe o : : : PME OR, tet : 4 time he had handled fractional
Weekly Real ens oe gd : ; _ We Ga wt interest sales. “It's certainly alot o>
section: ain Ba : : oS ; eh Pel 0 TS nee ana moresecure than acoopl eso”

West Vancouver Coum, Alan o).:

‘ : vo NEWS hota Paul McGrath ayy + . . nie
Me Williams said the fractionalinter-,

ests concept is “a tsehemes—-

Hie H hy i a n de rs Ss Hy ike Roy a is Jf orthere’s no question about that

: Wiliams ‘said the sudden cons:

vay ‘ . . , ‘the Eb ON .
rday:.cloudy; windy. HANDS WORTH ROYAL Richard West (#14) got, the better of West Vancouver’ s Rob Apinaienis “Tw Bellevue Sue
with showers, . Croston (#3) and Erik. Vu (#1) on this point last Wednesday night, bui at the end of the: pect because it happened suddenty
match it was the Highlanders who prevailed, winning three straight game against the 2-4: “with “infurmation presented (to

Royals. The win improved the leaque-ieading Highlanders record to 6-Q. Their: next testis tepaints-and prospective buyers) in”

nt i a 098 7238 on Monday night at 7 p.m. when they host Burnaby South’ 8 senjor boys Squad. a a very comples maniief and there-
juts f : : : foie likely to Confuse.” ws