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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
Basalt - 5058 Cambie Street, Vancouve, BC V5Z 2Z5, Canada. Crossroads are Camvie Street and West 35th Avenue. An esteemed collection of 51 contemporary residences completes the fourth chapter in the continuing story of Pennyfarthing's Cambie Collection, and a legacy of landmark residential communities on Vancouver's West Side. Basalt makes a strong visual impact with its refined modernist design and admired location beside Queen Elizabeth Park. These one to three bedroom homes merge style with functionality, featuring bright interiors, and elegant finishes. Developed by Pennyfarthing Development Group. Architecture by Shift Architecture. Interior design by Portico Design Group.
Walking distance to Queen Elizabeth Park. Other parks nearby are Oak Meadows Park and VanDusen Botanical Garden. schools nearby are Eric Hamber Secondary School, Vancouver College, King David High School, Silbury School, Eaton Cognitive Improvement Centre, Ukrainian School-Taras Shevchenko, Montessori Children's Community, and John Oliver Secondary School. Grocery stores and supermarkets nearby are Safeway Oakridge, Oakridge Fish Market, Kin's Farm Market, and Safeway King Edward. Close to Bloedel Conservatory, Hillcrest Aquatic Centre, Nat Bailey Stadium, Vancouver Public Library, Terry Salman Branch, BC Children's Hospital, and Livingstone Lake.
Sales for May are up 34% from April and down 44% for May last year. Listings are down 37% from the same period last year, but 59% increase over April listings
BCREA Housing Market Update (June 2020)
Province May sales were down 45% compared to May 2019. Listings are down 10% year-over-year.
Market Insights April 2020
April Sales in COVID-19 time were down 40% from same period last year. Listings were also down by 60% from the same period last year.
BCREA Housing Market Update (May 2020)
Sales across BC fell 50% in April. Listing are down by 43%
Real Estate Related News Articles(Sun and Province)Search News
Reverse mortgage as an exit strategy is a good idea?
Pimento suggests brokers offer using a reverse mortgage when building an exit strategy out of a high-interest alternative mortgage. Offering a lower interest, long-term strategy will not only benefit the homeowner, but adds an additional commission stream for the broker. Clients can use funds from a reverse mortgage to pay exit penalties from an alternative mortgage, and free themselves from a high-interest loan.
Conference Board of Canada foreseeable outlook for Canadian Real Estate economy
The Board’s Canadian Outlook Summary: Summer 2020, in contrast to projections made by institutions like the Canadian Mortgage and Housing Corporation, predicts less dramatic declines in housing prices, but its remaining insights track closely with projections that see the damage done to Canada’s economy at the hands of COVID-19 lingering well into 2021.
CRA’s eyeing tax audit for Canadian property transaction in the US
A Canadian taxpayer who is reassessed through this audit can face substantial tax penalties on top of interest, not to mention the professional and legal fees required to respond and object to the audit. There is also a possibility of prosecution for tax fraud or tax evasion. This article will break down the typical issues that could come up in a tax audit of undeclared real estate property or unreported real estate transactions.
REW, B.C’s real estate leading platform expanding their established listing adding rental properties.
In addition to listings, REW.ca says renters will have access to videos, virtual tours, market insights, and detailed descriptions of the rental properties, including their location, nearby schools, and amenities.
When asked about REW’s strategy, Bray added that, “our goal is to help Canadians find their next home, no matter what that looks like. Whether it’s buying a brand-new development, browsing a listing down the street, or finding a great rental apartment, REW is focused on delivering a complete real estate experience for everyone.”
Prices steady as resale home sales increase Metro Vancouver's June housing sales up month-over-month and 17 per cent above June 2019 with prices higher than a year ago
The total number of homes currently listed for sale on the MLS system in Metro Vancouver is 11,424. That's 23.7 per cent down from the 14,968 homes that were listed for sale in June 2019, but up 15.1% per cent from the 9,927 listed properties in May 2020.
For all property types, the sales-to-active listings ratio for June 2020 was 21.4 per cent. By property type, the ratio is 19.9 per cent for detached homes, 25.2 per cent for townhomes, and 21.3 per cent for apartments. Real estate insiders tend to describe the market as a “buyers’ market” when the sales-to-active-listings ratio is less than 12 per cent, and a “sellers’ market” when that ratio is above about 20 per cent for several months in a row.
Sales of detached homes in June reached 866, up 16.1 per cent from the 746 detached sales recorded in June 2019. The benchmark price for a detached home was $1,464,200, up 3.6 per cent from June 2019, and up 0.5 per cent from May 2020.
The fourth phase in the Cambie Collection presented by local developer, Pennyfarthing Homes
51contemporary one-to-three bedroom condominium and townhome residences in a premier parkside location
The modern design by notable Shift Architecture incorporates a striking basalt exterior and cascading water feature
In close proximity to Cambie Village and Little Mountain, residents will enjoy daily amenities, local restaurants, and transit, all right at their fingertips
Shared indoor-outdoor amenity spaces, including a children’s play area, for hosting gatherings and entertaining friends
Private balconies or terraces with convenient gas connections for every home
Exquisite Interiors
Stylish interiors by Portico Design Group defined by open-concept spaces are ideal for luxurious daily living
Two modern colour palettes, Walnut or Blonde, to individually stylize homes
Expansive ceilings reach up to 9’, or 10’ in Penthouse Collection, creating a bright and airy ambiance
Air Conditioning for year round comfort
Rich hardwood flooring in Oak or Walnut stretch across main living areas
Wool-blend carpeting in the bedrooms provides a soft start to every day
Interior doors are solid and sophisticated
Energy efficient LG front-loading washer and dryer
Roller shades allow you to manage sunlight and preserve privacy
Serene Bathrooms
Contemporary wood cabinetry in Smoked Walnut or Ivory Oak
Polished quartz countertops & backsplash with undermount basin
Recessed cabinet lighting adds a relaxing and luxurious ambiance
Hytec acrylic alcove tub and polished porcelain tile surround for ultra relaxation
Elegant Statuario White 12”x 24” matte porcelain floor tiles
Water-efficient Duravit dual-flush toilet with soft-close feature
Grand Ensuites exude extra comfort and relaxation
– Vanities with full height integrated shelving – Frameless glass shower enclosure featuring marble mosaic floor tile, and matching recessed wall niche completed with a Grohe rain shower head and hand wand – Dramatic 24” x 48” white porcelain tiles seamlessly wrap the floors and walls – Nuheat in-floor heating for ultimate comfort
– 30” or 36” Energy Star French door refrigerator with custom cabinetry panels – 30” stainless steel five-burner gas cooktop with integrated slide-out hood fan, optional upgrade to 36” cooktop and hood fan combination in select homes – 30” stainless steel wall oven – 30” stainless steel speed oven combines classic oven functionality with microwave technology – Fully-integrated, panelled Energy Star dishwasher – Optional 24” Marvel high-efficiency under-counter wine fridge in select homes
Spacious acrylic cabinetry with convenient recessed lighting
Sleek polished quartz countertops and backsplash, together deliver a modern look
Expansive kitchen island with wood inlay detail in Ivory Oak or Smoked Walnut
Blanco stainless steel undermount sink paired with Starlight Chrome Grohe faucet and in-sink disposal
Elite Penthouse Collection
State of the art integrated Gaggenau appliance collection boasts:
– 36” Energy Star refrigerator with stainless steel interior – 36” five-burner gas cooktop with integrated slide-out hood fan – 24” Energy Star dishwasher – 30” stainless steel wall oven – 30” stainless steel speed oven with microwave technology
Seamless porcelain tiles cover floors and walls in bathrooms - 24” x 48” in ensuites, and 12” x 24” in secondary bathrooms
Private rooftop patios are lined with 24” x 24” paver stones, equipped with convenient gas and water connections, and boast panoramic views
Overheight ceilings reach up to 10’, providing ample natural light and open living spaces
Set your Mind at Ease
LEED Gold Certified
Enterphone for secured visitor access
Secured underground parking and bike storage included for every home
Comprehensive National 2-5-10 Home Warranty
Features/Amenities from other sources
Air Cond./central
In Suite Laundry
Playground
Roof Top Patio
Restrictions
Restrictions updated:
January 2011
Construction Information
Levels
6
Strata Information
Strata Plan #
Title to Land
Freehold Strata
Units in Development: 51
Units in Strata: 51
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