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The Terraces Two MLS® Listings
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Building Info
The Terraces Two - 19790 55A Avenue, Langley, BC V3A 0K6, Canada. Crossroads are 55A Avenue and 198 Street. A stunning collection of 17, 3-storey townhomes. Completed in 2018. The open-concept homes will feature contemporary designs and fixtures including European oak hardwood floors, plush, carpeted bedrooms, 9 ceilings on the main floor, and large Energy Star windows that bathe the space in natural light. Developed by Watershock Properties. Architecture by Atelier Pacific Architecture. Maintenance fees includes garbage pickup, gardening, management, snow removal and water.
The Terraces Two feature James HardiePlank and HardiePanel siding with cedarwood and cultured stone accents. Step outside, and enjoy lush landscaping, flowering shrubs, plants and grasses, along with lighting and garages. Customize the cabinets to suit your refined style and choose between classic white, Shaker-style cabinets or contemporary slab door cabinets with chrome hardware and soft-close doors & drawers.
The closest park is Brydon Park. Schools nearby are Relevant High School, Diamond Elementary School, Douglas Park Community School, Nicomekl Elementary, Blacklock Fine Arts Elementary, H.D. Stafford Middle School, and Media Centre. Grocery stores and supermarkets nearby are Michael's No Frills, Save-On-Foods, Safeway, H-Mart, Real Canadian Superstore, and Glenn's No Frills. Short drive to Willowbrook Shopping Centre, Langley Regional Airport, and City of Langley Library.
Other buildings in complex: The Terraces Three - 19760 55 Ave, , The Terraces - 19789 55 Ave, The Terraces Two - 19790 55A Ave
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.
Large ENERGY STAR® windows throughout for maximum light
2" faux wood blinds throughout
Engineered European Oak hard wood floors
Contemporary, flat-stock wood baseboards and door casings
Plush carpeted floors
High performance heat pump heating & cooling system.
Modern, streamlined solid core Madison doors by Jeld-Wen® to all bedrooms and bath
Kitchen
Stainless steel appliances by Whirlpool, including a 5-burner gas range and convection oven, a refrigerator with bottom-mount, freezer drawer, and a dishwasher with AccuSense® Sensor Cycle
Contemporary, slide out range hood in stainless steel by Broan®
Choice of white, Shaker-style cabinets or slab door cabinets with chrome hardware and soft-close doors & drawers
Polished Quartz countertops with tile backsplash
Deep, double-bowl under mount sink
Single-lever, gooseneck pull down faucet with integrated spray function by Symmons®
Bathroom
Choice of white, Shaker-style cabinets or slab door cabinets with chrome hardware and soft-close doors & drawers
Tile floors and bath/shower surround
Single-lever, polished-chrome faucet, shower head and trim by Symmonds
Under mount, drop-in or vessel sinks
Ultra contemporary polished chrome tub/shower set by Symmons®
Matching accessories by Symmons® Duro® Series
Timeless modern toilet by Davit®
Powder room on main or ground floor
Ensuite
Double vanity with under mount sinks
Polished Quartz countertop and backsplash
Ceramic tile floor and shower surround
Ultra contemporary polished chrome shower system by Symmons®
Standard walk-in double shower with 6 mm frame-less glass enclosure
Exteriors
West-coast contemporary style architecture
James HardiePlank® and HardiePanel® siding with cedar wood and cultured stone accents
Northwest Door® garage door with Liftmaster® chain garage door opener and two remotes
Front and rear hose-bibs
Spacious private landscaped terraces with lighting
Lush landscaping, flowering shrubs, plants and grasses
Amenities
Dedicated visitor parking on site
Easy access to the nearby Brydon Creek trail system
Near Nicomekl Elementary School, HD Stafford Middle School, Langley Secondary School and Langley Fundamental Middle & Secondary
Walking distance to shopping, restaurants, and parks
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