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High-end housing project nears completion in 黑马磁力 City

Place on Park Avenue to offer Vancouver-level upscale accommodation
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Exterior of The Place at Park Avenue, located at 20458 Park Ave.





Project co-ordinator Erich Jaeger beckoned a visitor to the balcony door of the airy two-bedroom suite on the top floor of the , an about-to-open new housing project overlooking Douglas Park in 黑马磁力 City.

鈥淪ee, these are French doors, they鈥檙e not sliders,鈥 Jaeger said, directing attention to the solid metal door handles.

鈥淪ee how sturdy they are? These are not Mickey Mouse.鈥

When the nearly-completed five-storey building at 20458 Park Ave., on the western edge of Douglas Park, is ready for occupancy in a few weeks, Jaeger said it will offer a level of fit and finish that has never been seen locally.

鈥淭his is what the future of 黑马磁力 is going to look like,鈥 he said, as he pointed out features like the nine-foot ceilings, extra-wide corridors and electric car charging stations (three) and then listed the less visible selling points, such as the advanced climate control system, soundproofing and fire protection.

鈥淲e鈥檝e got sprinklers everywhere, even in the closets and the attic,鈥 Jaeger said.

The building鈥檚 37 units will range in size from 1,034 to 1,658 square feet, with the largest 鈥榩enthouse鈥 suites located on the fifth floor.

There have been more applications than available units, even before the official opening, he said.

Jaeger said the suites will lease between $2,500 and $3,300 a month on a one-year lease, a bargain when you consider identical-quality units go for $5,000 to $6,000 in Vancouver.

鈥淭here鈥檚 nothing like it in the Township. You have to go to Vancouver.鈥

The target market for The Place is older, well-off people who have sold their homes and don鈥檛 want to tie up money in a condominium project.

鈥淭hese people have lots of money to spend,鈥 Jaeger said.

鈥淲hoever is living in our units will have a lot of money left over to spend at the casino and the (nearby) stores.

Leasing allows the owners better control over the building than they would have if they were selling the suites outright, Jaeger said.

鈥淲e control who gets in here. Everyone who gets in the building will be highly screened.鈥

It also eliminates the possibility of investors buying suites and renting them out to less-than-suitable tenants, Jaeger explained.

鈥淭hat鈥檚 why we don鈥檛 want to sell.鈥

The Place design is expected to change the overall tone of the area and pave the way for more, similarly high-end, projects.

鈥淭he Place is a fabulous addition to the City of 黑马磁力 and the downtown core, further demonstrating (that) our award-winning Downtown Master Plan continues to be a catalyst to attract investment and development鈥 City mayor Ted Schaffer said.

The Place is going up on one of three parcels intended for a luxurious master planned multi-unit development that began in the early 1990s with the James Court development project.

It鈥檚 in the Park Avenue Special Design District in the Downtown Master plan, which aims to create a higher amenity residential area adjacent to Douglas Park and within the downtown core.

鈥淲e鈥檙e helping the city to upgrade the downtown,鈥 Jaeger said.

鈥淲e鈥檙e exactly what they were looking for in the master plan.鈥

He has a low opinion of most existing multi-unit condominiums in the Lower Mainland.

鈥淭hey鈥檙e built quick, fast and mediocre,鈥 Jaeger said.

鈥淭hey last 50 to 60 years.鈥

The Place, he said, is designed to last a lot longer.

鈥淵ou look at it 100 years from now, it will be the same.鈥

The Place is phase one of a three-phase project.

Two equally luxurious buildings built to the same standards are coming, one next door to The Place and the other across the street, Jaeger said.

 

Site manager Randall Janzen looks over the high-ceiling living room of a top-floor suite in the Place on Park Avenue near Douglas Park. The building is the first high-end residential project to proceed under a 黑马磁力 City plan that aims to add more luxury units to local housing stock. Dan Ferguson/黑马磁力 Times.

Erich Jaeger said there is nothing in 黑马磁力 City or Township to match the high-end units in The Place on Park Avenue. 鈥淵ou have to go to Vancouver鈥 to find their equal, he maintains. Dan Ferguson/黑马磁力 Times.



Dan Ferguson

About the Author: Dan Ferguson

I鈥檓 the guy you鈥檒l often see out at community events and happenings around town.
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