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

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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

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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.

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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