|This sponsored feature takes an intimate look at real estate projects in Greater Vancouver, bringing you stories about the developers, the neighbourhoods and the homes themselves.|
“Anytime you’re trying to provide a high level of affordability while also providing quality design and integration of heritage elements, it’s a complicated process,” Salient Group President Robert Fung recently revealed in a Royal City Record interview. “In order to make the building truly livable – and tie it in with the area in a sympathetic way – there are challenges technically and economically. We faced these challenges, all the while maintaining the affordability of the homes.”
Robert admits that affordability was a key factor in his company’s decision to start a project in the Royal City after a decade of playing a significant role in transforming Gastown. “I was initially attracted to the history and the significance of downtown New Westminster, and the opportunity to help facilitate an economic revitalization in the area. Being able to offer great homes at affordable pricing, along with the most accessible transit connections in the Lower Mainland, is an exciting opportunity for us. ”
Recent studies have shown that many Canadians identify affordability as the primary reason for delaying purchasing their first home. But because of its price and location, Trapp+Holbrook is attracting the attention of a key market: first-time local homebuyers.
According to real estate expert Robyn Lau, New West is a good choice for first-time homebuyers because the city has comparable amenities to Vancouver and Burnaby — but without the high price tag. She says, “First time homeowners couldn’t ask for a better combination right now. New West offers the opportunity for their investment to do well over the coming years.”
The city’s great transit system means residents could save a lot of money by ditching their car, according to Lau. “Having the option of not owning a vehicle unless you truly want to is a huge benefit with today’s high gas prices and costs of maintaining a car.”
Bob Rennie of Rennie Marketing Systems adds that Columbia Street’s thriving community means good news for first-time homebuyers who would like to see their investment grow. “The street has the potential to become a true walking community. The question is not if, but when.”
New West residents will see the value, breadth, and strength of the community as Columbia Street grows. Investments from projects like Trapp+Holbrook bring new homes and people, which bring pride of ownership to communities. New homes attract commercial demand, and a positive snowball effect follows. The project’s 200 feet of street-level storefront will attract more pedestrian shoppers, contributing to Columbia Street’s revitalization.
For first-time homebuyers thinking of making Trapp+Holbrook their home, Lau recommends looking into provincial government incentives and income tax credit offered by the Canadian Mortgage and Housing Corporation to help reduce purchasing costs. She also recommends checking with a mortgage broker and speaking with a knowledgeable realtor to ensure the process runs smoothly.
“History proves that real estate is always a tried and true investment,” Lau suggests.
To learn more, visit the Trapp+Holbrook presentation centre at 668 Columbia Street, just one to two blocks away from two Skytrain stations, from 12PM to 7PM, Monday to Thursday, and 12PM to 5PM Saturday to Sunday. The Salient Group is also on Facebook, Twitter, LinkedIn, and Pinterest.