Friday, September 18, 1998 — North Shore News — 54

easceeeeeve

investment

reaps

vast rewards

WE have all heard the
investment mantra: loca-
tion, location, location.

But an even more powerful
mantra could be timing, timing,

_ timing. Many a real estate fortune
chas been created by astute
investors who, understancing the
ramifications of
olanied change,

acted upon these
changes and have
reaped vast rewards.

Vancouver's real
estate market of the
carly 1980s was a
relatively flat market
eriod'in terms of
price increases.
ith the massive
hike in mortgage .
yates in 1981 followed by the dra-
matic drop in property prices—in
some areas up to 40%— most. peo-
ple thought it absurd to even think
about making real estate invest-
ments. .
-=] clearly recall speaking in a
large ballroom filled with peopte in
1985 and saying that it was now
the time to invest in real estate.
Those people looked at me like I
was stark raving mad. Yet, a few
peuple clearly understood what I

“was talking about.

“Expo was coming to Vancouver.
hings turned out few people

_ could have forecast the massive
market activity that was a direct
tesulr of the world discovering

- Vancouver through Expr
> “eT Rose¢ investors who eae
that ‘impact and acted upur: that

hunch by acquiring prime property

at pre-Expo prices have seen that
action increase their net worth
ten-fold.

+ Was that luck or wes it an

astute and calculated investment?
Well, hindsight is always 20/20
and we would have all liked to
have foreseen the post Expo real
estate boom. Some investors did
understand the impact of what 15
million visitors would have on the
Greater Vancouver real estate mar-
ker

Michael
‘Dowty

They realized that
Vancouver would
no jonger be
viewed as a.quaint
west coast fishti
village and wou
take its place as
one of the cop
cities in the world.
That change in
perception was
sure to impact
Vancouver's real
estate marker. We all know the rest
of the story.

Let us look at another example:
the early 1970s. In Coquitlam

lans were underway to build the
argest shopping centre in western
Canada.

The site of what is now
Coquitlam Centre, and the sur-
rounding area at that time as lit-
tle more than marshland.

Also ca the planning board at
that time was a developraeni so
vast that few of us could really
grasp it, Jct alone believe it could
actually happen.

The proposed development is
now known as Eagie Ridge,
Westwood Platcau, and the new
Coquitlam Town Centre.

How does this relate to “tim-
ing” you ask? Simply this. All the
information about those massive
Projects was on display in
Coquitlam’s City Hall. .

lines

See Population page 78

HAMERSLEY House, built in 1504, will be neighbours witt: Vista at Hamersiey
opment. The architect's design ensures a pertect blend with the old house's heritage

Heritage stylings drive Vis

Julie Crawtord

Contributing Writer

LOWER Lonadale’s historic Hamersley
House is about to get a new neighbour.

The Vista at Hamersley Park is situated on First
Street, right across the street from the heritage site.

A. Se. George Hamersicy buitt the house in 1904.
Hamersley was a partner in the North Vancouver Ferry
and Power Co. Lt.1., which heiped build transportation
links for early N hore settlers. ;

Builders Ledingham McAllister: have been around
aimost as long as Hamersley House itself, since 1905.

Vice-president of development for the company, John
CG’ Donnell, says the Crafisman-Tudor style was carefully
chosen to coruplement Hamersley House and other her-
itage homes in dic area.

“Graham Crockart Architects spent quite a bit of time
studying Hamersley House getting things right,” said
O’Donnell. “Heritage details like decorative brackets,
double columns and the building’s stone facing.”

#5-5130

AT A GLANCE

Se ecovecsoecroreseveccere

ADDRESS: #5-5130 Ashfeild

COO mee A RROD EHES ESOT TECEE DES EHESENEOEHSS

AGE: 2 years

DOO POM OH ee Here EET eS HEED RECO OS ODEEEEES

INTERIOR SIZE: 2, 543 SQ. FT.

HORT OO PERO E ERED EEE HOEDENO SORE EE ETOORAES

NUMBER OF BEDROOMS: 3

BPO Oe eee reece ereeeesancesesererersesoateD

NUMBER OF FLOORS:

ASKING PRICE: $829,000

OPEN HOUSE: Sunday!-4pm

LISTING AGENT: MacDonald Reattors, __
926-8718

SPECIAL FEATURES: View, Cul-de-sac,

privacy, master on the main.

Onc bedroom, one bedroom plus den, two bedroon!
and two bedroom plus den apartment residences are slat-
ed for completion next summer. We

Pre-completion prices start at $139,900 ‘includin

South-facing suites have panoramic views of the har-
bor and north-facing units. overlook the park. and ‘the
mountains. All have garden terraces or roomy balconics.

Traditional craftsmanship. is coupled with modern
innovation to better withstand the elements, . su
Wick Askew, marketing manager of Pacesetter Marketing
Ltd. Sloped roofs and generaus overhangs shicid~ th
home from the elements, while the latest in “rain screen”
technology helps ventilation and keeps moisture from
penetrating the buiiding’s exterior. us :

The Vista’s grand opening is this Saturday, Sept. 19.

A viewing platform and presentation centre will be open:
to the public. . .

The opening coincides with Heritage Weekend on th
North Shore — fitting for a building that takes its cues’
from one of the city’s best-known heritage estates.

A

a

Spectacular
ith cut a doubt the finest townhome in the

Lower Mainland. Offering sensational. views
from Lions Gate Bridge west to Point Grey.
best in quality including radiant heat granite,
marble, harciwood and
more. Tyvo master
suites with luxury
ensuites. Large decks,
incredible architecture,
: soaring ceilings, level
entry, den, gourmet
kitchen. Absolutely
stunning. Visit Sunday
1-4 p.m.

Mitcheli, MacDon:
Realt