The Mount Pleasant area of East Vancouver is a neighborhood that possesses some of the most unique character and historical significance. The Brewery Creek building located at 280 East 6th Ave, carries with it a storied past. Built Circa 1904, this now Class ‘A’ Heritage structure once formed part of the Deering and Marstrand Brewery complex. The location previously had a stretch of waterway run through it, which at the time was integral to the growth and economical development of the area. Over the years, the complex was home to a variety of businesses. It once housed Fell’s Candy Factory, as evident by the remaining signage on the exposed exterior brick wall, as well as a dairy plant, ice plant, and warehouse.
Nothing screams luxury quite like leaning back in a plush lazy-boy recliner under a fibre-optic star ceiling as you gaze upon a home theatre screen the size of a hockey rink. Here are our top picks for the ultimate man/woman/child caves that take movie time to another dimension.
5. Kipnis Studio’s Ciné Beta
Sporting a 22 foot Stewart 4-way Masking Snowmatte 1.0 Gain Laboratory Screen (uhh…ok), this theatre setup is bound to offer earth shattering, spine tingling, ear drum blasting entertainment through its multi-channel surround sound.
Urban and Real Estate Economics at The University of British Columbia might be the most interesting course offered at a post secondary education facility. Not because students wake up everyday excited to deconstruct the elasticity of supply and demand, but it’s a course that actually requires you to play video games. The game, Sim City. The task, of course inherently educational, to virtually recreate a city relative to what was learned during the course, documenting the resulting effects. I do not envy city planners in the least bit. The class, however, gives students a greater appreciation for how economic infrastructure is shaped according to our core necessities.
The concept of accessory buildings isn’t anything new. Although typically classified under names such as coach houses, infill housing, and granny flats, the (fairly) new kid on the block, the Lane Way House (LWH) is slowly emerging, and comes with mixed reviews.
In Part 1, we discussed how location affects the market value of a home. In Part 2, we take a look at how physical characteristics are factored into determining property value. Everything from the orientation of a property to the type of windows or floor level is going to affect the relative value of a home. Just because you have a countertop made of gold, however, the addition might not necessarily hold its value and appeal to buyers in a specific neighborhood, based on the principle of conformity.
In this series on valuing real estate, we reveal specific factors that contribute to the overall market value of a property, at any given point in time, so you can have a better understanding of how market value is derived. A home’s value is based on what other, similar properties in the neighborhood have sold for, going back over a preferred maximum of three months.
Appraisers use what is called the Direct Comparison Approach, which is based on the principle of substitution. It follows the notion that a prudent investor would pay no more for a given property than the cost of acquiring a similar property. Of course, not all homes are the same, and there needs to be price adjustments to account for these differing characteristics. This is where an appraisal of a property can get complicated, and result in differing opinions regarding the accuracy of pricing.