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Receive more information about North Grove
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North Grove MLS® Listings
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Building Info
North Grove at 6971 N Island Hwy Nanaimo, BC V9T 6N8 Canada. Crossroads are Island Highway and Nanaimo Pkwy. This new apartment development by District Developments. Leases for available units range in price from $1,250 to over $1,700. Sizes range from 409 to 801 square feet. Comprise of 146 units, 4 stories and was completed February 2020. Peaceful setting fosters a sense of connection and security. Pacific Cove Properties is proud to provide friendly, professional resident managers to create a welcoming atmosphere. Our managers are available whenever assistance is required with day-to-day needs, and are happy to help in planning events and activities. Amenities include a shared lounge with a comfortable communal entertainment space, kitchen, and dining room with a long table for easy gatherings and celebrations with family and friends. A new standard of living is within reach at North Grove. Just three-minute walk to public transit and only 12 minutes by car to Vancouver Island University. This six-acre community is next door to Woodgrove Shopping Centre, the islands largest retail centre, which includes an array of restaurants, cafes, cinemas, grocery stores, spas, fashion and lifestyle brands.
Closest parks include May Richards Bennett Pioneer Park, Saxer Park, Rotary Skate Park. Seabold Rotary Park, , Icarus park, Lewis Park, Blueback Beach Access and Groveland Gyro Park. Nearby restaurants include McDonald's, A B C Country Restaurant and Taco Bell. Nearby coffee shops include Starbucks, Starbucks and DAVIDsTEA. Nearby schools include Aspengrove School and Dover Bay Secondary. The closest grocery stores are M&M Food Market, Save-On-Foods and Costco.
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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