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Altis Living MLS® Listings
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Building Info
Altis Living - 4751 Garden City, Richmond, BC V6X 3M7, 16 levels, 94 units, estimated completion 2014. Strategically positioned in the heart of downtown Richmond at the corner of Garden City and Alderbridge Way and across from Lansdowne SkyTrain Station, Altis Living by Royal Group City Ventures Ltd. is the epitome of an oasis surrounded by a world of urban conveniences. Its 16 contemporary floors features GYM, common room, secure underground parking, and 94 smart homes with Samrt home technology that let you control the blinds, home stereo and many other devices at the touch of your fingertip.
Inside, these air-conditioning one and two bedroom homes range from 571 to 1,400 sq. ft. and feature floor to ceiling windows, quality hardwood flooring, flat-panel cabinetry, stone countertops, ceramic glass tiled backsplashes, high-end stainless steel appliances, in-suite washer/dryer, deep soaker tubs, and rain shower heads. Expansive balconies invite outdoor entertaining, and many suites offer panoramic views of ocean and sparkling city skyline.
Nestled between the Fraser River's idyllic middle arm and Richmond's most prominent shopping districts, Altis Living is adjacent to Garden City Lands, steps to Lansdowne Center and Yaohan Center, blocks away from Richmond Center, Richmond Hospital, Minoru Park, Richmond Nature Park, and Richmond Public Library, and within a short drive to YVR, downtown Vancouver, and golf courses. If you have children attend to schools, Altis Residences are also close to Richmond Secondary School, Brighouse Elementary School, Kawantlen Polytechnic University and Future Trinity Western 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.
The modern kitchen with stainless steel appliances by the most trusted brands in the industry and simulated stone counter tops;
Engineered Hardwood flooring,
Air conditioning in every room
Expansive floor to ceiling operable windows
Baseboards/door casings
Quaality hardwood flooring
Modern flat-panel cabinetry
High-end stainless steel appliances
Sink with single lever faucet
Wine storage
Breakfast bars/kitchen islands
Double bowled sinks
In-suite washer/dryer
Composite stone counter tops
Low maintenance
Ceramic glass tiled backsplashes
Spacious private balconies
Premium soft carpeting
The bathrooms with premium vanities (double in some cases), framed mirrors, double flush toilets and deep soaker tubs with rain shower heads, and flat paneled cabinets.
Features/Amenities from other sources
Elevator
Exercise Centre
In Suite Laundry
Restrictions
Restrictions updated:
January 2011
Construction Information
Year Built
2014
Levels
16
Construction
Concrete
Rain Screen
Full
Roof
Other
Foundation
Concrete Block
Exterior Finish
Mixed
Strata Information
Strata Plan #
Title to Land
Freehold Strata
Units in Development: 94
Units in Strata: 94
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