|Sunday, 23 May 2004 00:00|
Vancouver, like all large cities is composed of dozens of communities and Yaletown is just one of them. It is an historic district where the many abandoned warehouses have been converted into trendy shops, restaurants and galleries. Real estate is at a premium here with the average home appreciating $222 daily for the past two years and with the Olympics slated to be here in 2010 there doesn't seem to be a crash anytime soon.
When we left Ontario, we had planned that we would likely settle in Alberta when the settling time came, however, that was before we spent anytime here. Rick read a small article in a local newspaper about some condominiums being sold in Yaletown so we decided to check them out. The development company, Yaletown Park Condominiums has just broken ground and the first two buildings are slated for completion in early 2007. Phase 1 was 90% sold out in 24 hours, Phase 2 followed close behind and as a result they didn't advertise the sale of Phase 3, the one written about in the article. Well, we really liked what we saw and we put a deposit down on a 1-bedroom condo with the possession date sometime around June 2007! We feel it is an excellent investment with the real possibility of it being worth more than what we are paying for it, before we ever get possession. By 2007 we may be ready to settle into a condo or not in which case we can rent it out until we are ready.
We like Vancouver a lot. The climate certainly is appealing and with Karley and Ian here, living here is something we can get excited about. We will have easy access to great shopping, wonderful food, culture and theatre and can plug into the huge spiritual community. I have always envisioned myself living in a condo in a large city someday but I had no idea it would be here!
The picture shown here is the site of the phase 1 of the condo complex.