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Building & Condo information

Governor's Tower

388 Drake Street


Vancouver West, V6B 6A8 VVWDT - Downtown VW

Developers Website: www.concordpacific.com
  • Levels: 32
  • Suites: 237
  • Status: Completed
  • Built: 1995
  • Title To Land: Freehold Strata
  • Building Type: Strata
  • Strata Plan: LMS1725
  • Management company:  Self Managed
  • Management Co. Contact:  Angelag Phone:  604-684-6291
  • On Site Manager Contact: 604-684-6291
  • Concierge Contact: Dave – Main Concierge
  • ,
  • governorstv@yahoo.com
  • ,
  • #Office: 604-899-6056
  •   |
  • Bldg#: 4334

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Governor's Tower MLS® Listings

603 1388 HOMER STR.. 2 Bed, 2 Bath,1045 Sqft.  $1,180,000 Prompton Real Estate Services Inc.
205 388 DRAKE STREET 2 Bed, 2 Bath,1096 Sqft.  $999,000 RE/MAX Progroup Realty
3203 388 DRAKE STR.. 3 Bed, 4 Bath,2103 Sqft.  $2,798,000 Hooli Homes (Vancouver) Real Estate Services Ltd.
2205 388 DRAKE STR.. 2 Bed, 2 Bath,1202 Sqft.  $1,856,000 RE/MAX Masters Realty
601 388 DRAKE STREET 2 Bed, 2 Bath,1167 Sqft.  $1,198,000 TRG The Residential Group Downtown Realty
505 388 DRAKE STREET 2 Bed, 2 Bath,1056 Sqft.  $1,195,000 Sutton Group-West Coast Realty
708 1328 HOMER STR.. 2 Bed, 2 Bath,1010 Sqft.  $975,000 Prompton Real Estate Services Inc.
707 1328 HOMER STR.. 3 Bed, 2 Bath,1267 Sqft.  $1,299,999 Interlink Realty
507 1328 HOMER STR.. 2 Bed, 2 Bath,1135 Sqft.  $1,100,000 Livingstone Realty Inc.

MLS® Listings Summary (9) New Projects under Construction  Area MLS® Listings  Team Listings 
(Open houses highlighted in yellow)

MLS® Address Style BD BA Area Mnt Price F/Plan
1 R2625148 603 1388 Homer Street Inside Unit 2 2 1,045 $707 $1,180,000
2 R2607226 205 388 Drake Street Corner Unit 2 2 1,096 $713 $999,000
3 R2625349 3203 388 Drake Street Penthouse 3 4 2,103 $1250 $2,798,000
4 R2619698 2205 388 Drake Street Corner Unit, 2 2 1,202 $811 $1,856,000
5 R2616318 601 388 Drake Street Corner Unit, 2 2 1,167 $779 $1,198,000
6 R2587567 505 388 Drake Street 1 Storey 2 2 1,056 $676 $1,195,000
7 R2598978 708 1328 Homer Street Inside Unit 2 2 1,010 $654 $975,000 N/A
8 R2605504 707 1328 Homer Street 1 Storey 3 2 1,267 $857 $1,299,999 N/A
9 R2598739 507 1328 Homer Street 1 Storey,end 2 2 1,135 $746 $1,100,000
Listings Listed By:  1. Prompton Real Estate Services Inc.    2. RE/MAX Progroup Realty    3. Hooli Homes (Vancouver) Real Estate Services Ltd.    4. RE/MAX Masters Realty    5. TRG The Residential Group Downtown Realty    6. Sutton Group-West Coast Realty    7. Prompton Real Estate Services Inc.    8. Interlink Realty    9. Livingstone Realty Inc.   
Legend: BD - Bedroom, BA - Bathroom, Mnt - Maintenance Fee, $/sqft - Dollars per square foot.
MLS® Listings Summary Print view

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

Governor's Tower - 388 Drake Street, Vancouver, BC V6B 6K3, LMS1725 - located in Downtown area of Vancouver West, near the crossroads Drake Street and Pacific Boulevard, on the Southern end of Yaletown, across the street from David Lam Park. Within 4 blocks are George Wainborn Park, Roundhouse Community Center, Urban fare and Elsie Roy Elementary School. Governo's Tower is walking distance to Choices Market, Emery Barnes Park, Vancouver International Film Centre, Helmcken Park, Starbucks Coffee, Blenz Coffee, Pacific Cinematheque, Wall Centre, Language Studies International, Royal Bank, Scotia Bank, Spa and UBC Robson Square, Seawall, Quayside Marina at Concord Pacific Place, Scotiabank Dance Center, CSIL Canadian As A Second Language Institute, Spa Beauty+Welness Centre, Exhale Yoga Pilates & Dance Studios, Pacific Chiropractic, Massage Therapy, Bambu The Salon, Dairy Queen, Blenz Coffee, Yaletown YYoga, 24-7 Fitness in Yaletown, Kostuik Gallery, Shoppers Drug Mart, BC Place and Contemporary Art Gallery. Restaurants in the neighbourhood are La Terazza, Games Big Fish, Earls, Yaletown Keg Steakhouse and Bar, Urban Thai Bistro, Hapa Izakaya, Cactus Club Cafe, George Lounge, Fresh Japanese Take out, Drew Cooks and much more. The bus stops near the complex and Yaletown-Roundhouse Skytrain Station is less than 5-minute walk from the complex. Governor's Tower was built in 1995 by Concord Pacific and has 135 suites on 32 floors. The Governor's Tower has a concrete construction and mixed exterior finishing. This building was rain-screened in 2010. Governor's Tpwer is a part of Governo's Villas that consists of 237 units with 135 units at 388 Drake Street and 102 units at 1318 - 1398 Homer Street. These buildings share great facilities that include secure underground parking, heated 70' indoor swimming pool, a hot tub, an exercise centre, a playground, a sauna, a craft room, a garden, a bike storage, secure entry, a surveillance system and a 24-hour concierge. Most homes offer in-suite laundry, storage lockers, great layouts and large living/dining areas. The kitchens originally had white appliances but many have been updated to granite counters and stainless steel appliances. Some homes have David Lam Park and False Creek views.

Governor's Tower & Villas was fully rainscreened in 2010 & has 10 year warranty by Willis Canada.

Strata Sub Categories: Strata

Interactive Map Images Note: Please click an address to view building.

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Governor's Tower Technical Info

Building Name Governor's Tower
Address 388 Drake Street
City Vancouver West
Neighborhood Downtown VW
Listing Price Range N/A
Floors 32
Units in Development: 237
Units in Strata:237
Property Types Freehold Strata
Sub Categories:Strata
Year Built 1995
Developer Concord Pacific
Architect Name Dys Architecture
Architect Phone 604-669-7710
Architect Email info@dysarchitecture.com
ManagementSelf Managed
Mgt. Co. Contact:
  Angelag
  604-684-6291
Concierge Name Dave – Main Concierge
Concierge Email governorstv@yahoo.c..
Concierge Phone 604-899-6056
Restrictions Details
Strata Plan LMS1725
Strata Plan Log-in LMS1725
Title to Land Freehold Strata
Emporis Governor's Tower
  

Governor's Tower, 388 Drake Street - Suite Summary View All 

# Suite Address Postal S/L PID Plan No S/F BA BD
1 101 388 Drake N/A N/A N/A N/A 1450 sq.ft. N/A 3 Bedroom + Patio
2 102 388 Drake N/A N/A N/A N/A 1213 sq.ft. N/A 2 Bedroom + Patio
3 103 388 Drake N/A N/A N/A N/A 1245 sq.ft. N/A 2 Bedroom + Patio
4 105 388 Drake N/A N/A N/A N/A 974 sq.ft. N/A 2 Bedroom + Patio
5 106 388 Drake N/A N/A N/A N/A 1066 sq.ft. N/A 2 Bedroom + Patio
6 202 388 Drake N/A N/A N/A N/A 1212 sq.ft. N/A 2Bedroom
7 203 388 Drake N/A N/A N/A N/A 1232 sq.ft. N/A 2 Bedroom
8 205 388 Drake N/A N/A N/A N/A 1052 sq.ft. N/A 2 Bedroom + Balcony
9 206 388 Drake N/A N/A N/A N/A 1037 sq.ft. N/A 2 Bedroom + Balcony
10 302 388 Drake N/A N/A N/A N/A 1210 sq.ft. N/A 2 Bedroom + Balcony
Floor Plan Creator 

Typical Floor Plan (Click image to go to BCFP)

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Typical Floor Plan (Click image to go to BCFP)

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Complex Site Map 3(Click image to enlarge)

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Complex Site Map 4(Click image to enlarge)

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Governor's Tower Maps (Google, Google Street View, Bing Aerial View, Area Condos, Walk Score)

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Other Buildings in Complex/Area

  1. A Governor's Villa II - 1318 HOMER STREET - LMS1725
  2. B Governor's Villa 1 - 1328 HOMER STREET - LMS1725
  3. C Parkview Tower - 289 DRAKE STREET - LMS990
  4. D Alda - 1275 HAMILTON STREET - BCS106
  5. E Governor's Villa I - 1338 HOMER STREET - LMS1725
  6. F Governor's Villas I - 1388 HOMER STREET - LMS1725
  7. G Governor's Villa - 1398 HOMER STREET - LMS1725
  8. H Pacific Pt. - 1323 Homer AVE - VAS2540
  9. I 1230 Hamilton - 1230 HAMILTON STREET - LMS895
  10. J Pacific Point 2 - 1331 HOMER STREET - VAS2540
  11. K The Grafton - 1238 HOMER STREET - LMS3182
  12. L ILIAD - 1245 HOMER STREET - LMS3940
  13. M Greenwich Place - 1226 HAMILTON STREET - LMS3198
  14. N Ellison - 1228 HOMER STREET - BCS2588
  15. O Grace - 1288 RICHARDS STREET - BCS747
  16. P Grace - 499 DRAKE STREET - BCS747
  17. Q 1241 Homer - 1241 HOMER STREET - BCS3228
  18. R Grace Tower - 1280 RICHARDS STREET - BCS747
  19. S Pacific Point - 431 PACIFIC STREET - VAS2540
  20. T Murchies Building - 1216 HOMER STREET - LMS2686
  21. U The Charleson - 499 Pacific STREET - EPS4774
  22. V Parkview Gardens - 212 DAVIE STREET - LMS1104
  23. W Metropolis - 1238 RICHARDS STREET - LMS3380
  24. X Oscar - 1295 RICHARDS STREET - BCS147
  25. Y Concordia I - 199 DRAKE STREET - LMS2179
  26. Z West One - 1408 Strathmore MEWS - BCS183
View All Buildings in Vancouver West

September 2021 Market Insights

August 2021 Market Insights

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021.

July 2021 Market Insights

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,326 in July 2021, a 6.3 per cent increase from the 3,128 sales recorded in July 2020, and an 11.6 per cent decrease from the 3,762 homes sold in June 2021.

June 2021 Market Insights

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54 per cent increase from the 2,443 sales recorded in June 2020, and an 11.9 per cent decrease from the 4,268 homes sold in May 2021.

May 2021 Market Insights

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold

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"In addition to being illegal, the conduct undermines consumer protection, consumer confidence and the reputation of the real estate profession as a whole," said the notice.

Across the country, the National Realtor Code of Ethics, as well as provincial real estate laws, dictate that agents must act with honesty and promote the interests of the individual they represent. Some provincial laws, including in Alberta and Ontario, address the issue of steering specifically.


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2 Canadians hoping to enter the housing market to homeownership for qualified first-time buyers

 It remains to be seen whether proposed tweaks can revive the much-maligned federal program

On paper, it seemed a welcome break for Canadians hoping to enter the housing market: a federal incentive program aimed at reducing the monthly mortgage burden and easing the passage to home ownership for qualified first-time buyers.

Over two years after its introduction, though, the jury is still out on whether the First-Time Home Buyer Incentive, unveiled by the federal government in September 2019, has had any significant impact in addressing the mounting challenges faced by would-be homeowners across the country.

Figures released to Parliament in April painted a damning picture of the program, revealing that it had seen an uptake of just over 9,000 successful applicants since its introduction – with the $170 million released in incentives representing a small fraction of the program’s $1.25 billion overall value.

One of the most significant stumbling blocks in the incentive, which offers mortgage relief through a shared-equity program between homebuyers and the government, appeared to be the fact that ever-soaring house prices across much of Canada meant that it had little impact on prospective buyers in the country’s hottest markets.

While the government introduced changes to the program late last year – announcing increased household income and buyer’s income thresholds for Vancouver, Victoria and Toronto – those amendments still meant that the program’s maximum eligible home price remained well below the going rate in those markets.

The program has faced staunch opposition from the get-go, with Conservative MPs Tom Kmiec and Stephanie Kusie urging the government to scrap the scheme in May 2020 after it had been in operation for less than a year.

Read more: Conservative MPs urge feds to eliminate First-Time Homebuyer Incentive

Still, the governing Liberals have stuck resolutely by the plan, announcing in their platform prior to September’s federal election – in which they were returned to government, having emerged once more as the largest party in Parliament – that they would retain and rejig the scheme if re-elected.

Under that platform’s proposals, changes to the program would give applicants a choice between the current shared-equity approach and a loan that’s repayable when the property is eventually sold – theoretically allowing new homebuyers to keep more of any increase in their home’s value while also reducing mortgage costs.

CanWise Financial president and RateHub co-founder James Laird told Canadian Mortgage Professional in recent weeks that the First-Time Home Buyer Incentive was an “illogical, complex program” that made little sense and should have been abandoned completely, rather than reworked.

In Newfoundland and Labrador, Robert Jennings (pictured top), owner and mortgage broker at East Coast Mortgage Brokers, said that while the scheme was often raised as a topic among clients, actual uptake had proven limited.

“I would say we have a fair amount of conversations, but it doesn’t lead to a lot of usage,” he said. “The usage rate is very low. I believe if I were to pinpoint it, the lean on the property [government involvement] would be really discouraging to a young, proud first-time homebuyer.

“I feel like maybe in Newfoundland in particular, there’s a home ownership pride that they don’t want to share or give up… Of course, there’s the eligibility issues as well. It seems like in a lot of cases trying to put a square peg in a round hole.”

Read next: What the Canada election result means for the mortgage industry

While Jennings said that the scheme had arguably fallen short in its attempts to create a smoother path to first-time home ownership, he believes efforts at a federal level to address the country’s growing housing affordability crisis are to be applauded.

“Everybody made it a big deal in their platforms – not just first-time home ownership, but home ownership in general and affordability,” he said. “I just really hope that they re-evaluate everything.

“They had good intentions, but I feel like they missed the mark. There’s no reason not to try; the problem’s not going away. I’d like to see what happens when the dust settles and I hope that it [the housing crisis] remains a priority, because they certainly made it seem like it would on the campaign trail.”

A good place to start, Jennings said, would be for the federal government to work collaboratively with stakeholders and those who work daily in the mortgage and housing industries – whether that be on changes to the stress test or potential longer-term amortizations.

“What I want is them not to do things blindly,” he said, “to embrace input, do their homework and try to get it done – but also get it done right.”

 

 

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