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episode # 10

Belleville Estate by Western Construction with Michael Uy

The Passive House is coming to North Vancouver, with the release of Belleville Estate by Western Construction! Located in Moodyville, North Van, these 24 townhomes will consist of 2-, 3-, & 4-bedroom offerings that combine top environmental standards & design with luxury finishes. Location, progressive design & cutting edge technology – the future is passive and it is here!

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Episode Summary


 

About the project:

Belleville Estate is 24 townhouses in the heart of Moodyville, which is right next to Lower Lonsdale. It’s all passive house construction and two, three and four bedroom homes.

With the passive construction, these homes are efficient and green. You end up saving money on heating, electrical and gas, as well as maintenance with a well-built home. I believe passive builds will be the future of new home builds. And this is one of the first passive house builds in North Vancouver.

Why are you excited about Moodyville?

It’s a fantastic area for someone who loves the outdoors. There are parks, hikes and you’re right at the mountains’ footsteps. It’s easy to get to all of the major mountains for skiing, snowboarding, etc. It’s a good area for young family and people who want to be outdoors.

Prices:

We’re looking at the low $1.1 million range.

Strata fees:

Strata fees will be lower thanks to the positive impacts of the passive house build. With high quality construction there will be less maintenance. As well, a townhouse complex usually has lower strata fees than condos. We’re expecting the strata fees to be very reasonable.

Developer:

 Western Construction has been building townhomes in Richmond since the 1980s. This is their first time in North Vancouver and they’re very excited to do something different and bring that to North Vancouver.

Occupancy/completion:

Completion will be 2020 to 2021. We’re excited to be launching the project soon.

Buyers:

Buyers will be both end users and investors. There’s a high rental demand – especially for three bedroom homes for families in North Vancouver – so we’ll see a good investor community.

Lock off/rental suites:

 Some of the units have lock-off/rental suites which are legal suites downstairs that can be rented out. They are bachelor or one bedroom suites with their own kitchen, laundry and small outdoor space.

These units offer a great way for owners to bring down their monthly payment by renting them out. They can also help with financing as the bank will take into consideration your potential rental income from the suite.

Deposit:

The deposit is 15%: 10% in the first 7 days and the remaining 5% a few months later. The typical project is asking for 20-25% down but we’re at 15%.

If someone is on the fence, why should they buy?

Moodyville is an amazing area to raise a family and enjoy the outdoors. North Vancouver is a hot area to purchase property so you will see some appreciation. As well, passive home builds are good for anyone with a green thumb looking for a more efficient and eco-friendly home. Belleville Estate is in a good community and somewhere you can live long term.

 

 

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