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Receive more information about Building - Triomphe Residences
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Receive more information about Triomphe Residences
Yes
No
Thank you for visiting
bccondos.net. You have requested to Contact one of our very skilled local realtors but have informed us you are currently working with a Realtor. Unfortunately since you have an agency relationship with that realtor, we
cannot interfere. If you choose to work with our area specialist instead, please click “NO” and continue with the request form. Change answer to "No" I am not working with a realtor
Leave my answer as "Yes" I am working with a realtor
MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
Triomphe Residence - 1888 Gilmore Avenue Burnaby BC. 46 Storey, 340 one, one + den, two, two + den, three and four bedroom homes, 374 underground parking spaces, Estimated Completion in Spring 2019, Crossing roads: Gilmore Avenue and Halifax Street, Burnaby.
Triomphe by Millennium Development Group is the newest archetype for urban sophistication located at 1846, 1876, and 1904 Gilmore Avenue in the Brentwood Park neighborhood of Burnaby North.
Designed by award-winning Chris Dikeakos Architecture, the tower is expected to soar 46 storeys and will include 340 residential homes and 374 underground parking spaces. Inside, these air conditioning homes feature open-plan interiors and the latest in high-quality finishes, including gourmet kitchens with quartz counters and Bosch stainless steel appliances. Many homes will feature expansive outdoor areas and and boast exceptional views in all directions and in particular to west towards the lights of downtown Vancouver, the ocean harbour, and the North Shore Mountains.
Triomphe is located at the corner of Halifax and Gilmore Street, just steps from Brentwood Shopping Mall and Brentwood Town Center Skytrain Station. Triomphe is easy access to the highway as well as downtown Vancouver, the North Shore Mountains and Simon Fraser University.
Vancouver council open to increasing slots, table games at existing casinos
Vancouver city council voted this week to allow for applications to increase the number of slot machines and tables at the city’s two casinos, on the condition they be accompanied by an assessment of their social and economic impacts.
The request to amend the city’s 2011 gambling moratorium was made by the B.C. Lottery Corp., which told council the city’s population has increased 22 per cent in the past decade and that the amendment is a first step to allow BCLC to look at ways of expanding its two existing facilities — the Parq casino in Yaletown and Hastings Racecourse in East Vancouver — rather than building more casinos.
The city has contributed more than $172 million to non-market housing in the form of land
The City of Burnaby has a total of 1,040 non-market housing units, including rentals and co-ops, just built or in development on its land, according to a new city report, and there’s more on the way.
The city lands program for non-market housing, which was adopted in 2015, leases city-owned lands at a nominal rate to non-profit housing providers through a public request for proposals (RFP) process.
The city has contributed about $172.44 million as part of the program, including land, grants and on-and-off-site works, according to the report which accounts for 11 projects that recently completed or were in progress as of March 2024.
The assessed value of the land makes up more than $120 million of that $172-million total contribution for the 11 projects.
Household Financial Health and Housing Market Trends
According to the March 2024 Edge Report, current trends in debt service ratios and net worth may indicate areas of concern. The prevalence of static payment variable rate mortgages, household debt-to-GDP ratios, and Canada’s heavy reliance on real estate assets, may raise concerns about resilience.
In Q4 of 2023, debt servicing costs stayed stable, with the household debt service ratio holding steady at 15%. This ratio, which reflects the portion of disposable income allocated to debt repayment, remains significantly high, at levels not seen since 1990. A minor adjustment downwards from the previously reported peak of 15.2% in Q3 should be noted, however.
The federal government’s new Housing Plan, announced on April 12, 2024 and supported by Budget 2024, introduced a provision aimed at helping renters build credit by integrating rent payments into credit histories. It proposes amendments to the Mortgage Charter, encouraging collaboration among fintech companies, credit bureaus, and lenders to include rental payment data in credit scores.
The government calls on these agencies to create an ecosystem where renters can choose to include their rental payment history in their credit scores. It also expects lenders to prioritize comprehensive credit information, including rental payment history, in credit evaluations whenever feasible.
Federal Budget 2024: What are the proposed capital gains tax changes and how might they affect me?
The capital gains tax inclusion rate – today and tomorrow
Today, only 50% of the capital gain is taxable (this is known as the capital gains tax inclusion rate). This means that $50,000 of the $100,000 earned from the sale of the cottage in our example is added as income for that tax year.
Here’s an example:
Your regular income, earned from your full-time job, is $75,000
You make a $100,000 profit from the sale of your cottage (after you pay real estate fees, closing costs, etc.)
50% of the profit is taxable, which means you add $50,000 to your income during the tax year in which you realized this capital gain
$75,000 + $50,000 = a total income for that tax year of $125,000
The amount of tax you ultimately pay in that year will depend on your tax bracket and its marginal tax rate.
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