Thursday, March 31, 2011 Rapid Transit to UBC: TransLink Releases Seven Options for Train or Fast Bus Serviceby Ben Chimes on Thu, Mar, 31, 2011 11:57 AM VANCOUVER -- TransLink is now seeking public input on what the future rapid transit line to the University of B.C. should look like. The transit agency has posted seven possible designs on its website, including street-level bus rapid transit, street-level light-rail transit, tunnel rail rapid transit and combinations to run along the Broadway corridor. The designs include proposed stops, travel times, costs and projected riderships. TransLink is looking for feedback on the transit line's alignment, how the road space should be shared and where potential stations should be. Participants can voice their opinions by attending a workshop, completing an online questionnaire, by attending an April 4 webinar. The consultation process is part of phase two of TransLink's University of B.C. Line rapid transit study. Read more: http://www.vancouversun.com/Rapid+transit+TransLink+releases+seven+options+train+fast+service/4532493/story.html#ixzz1ICHywV9n Tuesday, March 29, 2011 Hollywood Theatre faces the final curtainby Ben Chimes on Tue, Mar, 29, 2011 02:42 PM The Hollywood Theatre celebrated its 75th birthday last October. But the legendary Kitsilano cinema may not be around for its 76th. Owner David Fairleigh has confirmed the Hollywood will "probably" be closing. But he didn't say when, or what the family plans to do with the property at 3123 West Broadway. "I can't make any comments at this time," said Fairleigh, 67, whose family has owned and operated the 651-seat theatre since 1935. "I'm right in the middle of something, I can't comment right now." Alan Franey of the Vancouver International Film Festival has been going to the Hollywood since he was a teenager. He thinks Vancouverites will be "shocked" to learn that one of the city's cultural icons may soon be gone. "It would be a great loss to the neighbourhood, and our sense of what public spaces are for, our historical memory of what they used to be for," said Franey. "It's a great facade, it's a great place to see films. I think it's near and dear to a lot of our hearts." The theatre has an assessed value of $2.426 million, and is rumoured to be on the market for $2.9 million. At that price, said Leonard Schein of Festival Cinemas, "they're asking too much to run it as a movie theatre." Schein's company leases two neighbourhood theatres, the Park and the Ridge. They may not be around too much longer, either. "The whole shopping centre [the Ridge is in] has been put up for sale by our landlord," Schein said. "If someone buys it he or she may decide to tear down the whole shopping centre and build condos and other retail there, but you never know until there's a new buyer. They may decide to hold the location for years, or they may decide to redevelop it." Don Luxton of Heritage Vancouver said the city may have to step in if it wants to save the city's dwindling number of neighbourhood theatres. Several old theatres have been knocked down in recent years, including the Varsity, the Imperial (last known as the Venus) and the Van East. The city's oldest theatre, the Pantages, has also been condemned and may be torn down. "We have a bigger, broader issue: that there's four theatres that are going to be problematic and we could lose, the Hollywood, the Ridge, the Park and the Dunbar," said Luxton. "Somebody at the city should take a look and see which one of those would make good community spaces. We're restoring the York [theatre] on the east side. What about the west side? I think the Ridge, Park and Hollywood are all significant spaces, and ready to roll -you can use them as community theatres, community space, performance space." Luxton said one way to save the theatres would be to bring back the heritage density transfer system that the city killed in 2007. Another would be to buy the theatres with the $24 million the city collected from developers to build a Coal Harbour Arts Complex, which was never built. "Wouldn't it be sensible to buy a couple of small neighbourhood theatres?" said Luxton. "There's an urgent issue here. The city should examine through its cultural services office what would be the most appropriate use of the Coal Harbour Arts Complex money. Could it be used in different parts of the city to purchase and run these smaller community centres, rather than concentrate everything downtown?" Franey thinks the potential loss of the Hollywood might stir the "public recognition the space requires to be saved." He also said the film festival would be interested in running the theatre, if it could swing the financing. "We have an interest in the Hollywood, for sure," said Franey. "We haven't used it for a few years, but this is a very changing world, and I don't know if we can count on any of the theatres we use being available to us, one year to the next. It might not only be something we'd like to consider, it's something we may need to consider." Read more: http://www.vancouversun.com/Hollywood+Theatre+faces+final+curtain/4509142/story.html#ixzz1I1GdT4pz Monday, March 28, 2011 Just Listed – 2 BEDROOM KITSILANO PENTHOUSE NORTH OF 4THby Ben Chimes on Mon, Mar, 28, 2011 01:31 PM Renovated 2 bedroom penthouse in the heart of Kitsilano with stunning ocean, mountain & city views. This fantastic home, flooded with natural light, boasts vaulted ceilings, a new open kitchen with stainless steel appliances & granite countertops, Engineered Brazilian cherry hardwood & slate flooring with new gas fireplace, new r/c lighting & light fixtures throughout. High end custom home projection theatre with a disappearing 9' screen, r/c blackout drapes & blinds, pre-wired surround sound & ethernet. Amazing 120 SF sundeck with the most breathtaking views Kitsilano has to offer . . . and its a corner unit for privacy & peace. Building has a new roof & was rainscreened in 2001. 1 parking & 1 storage. You'll love it! Open Sun, April 3rd, 2-4PM. View listings details & Pics: http://livekitsilano.com/index.html/details-18349813 Wednesday, March 23, 2011 Top 25 Grants and Rebates for Property Buyers and Ownersby Ben Chimes on Wed, Mar, 23, 2011 06:39 PM Interesting article from the Vancouver Sun
1 HOME BUYERS' PLAN
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. For more information: www.cra.gc.ca. Enter 'Home Buyers' Plan' in the search box.
2 GST REBATE ON NEW HOMES
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. For more information: Canada Revenue Agency www.cra-arc. gc.ca. Enter 'RC4028' in the search box.
3 BC NEW HOUSING REBATE (HST)
Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250. For more information: www.hstinbc.ca/making_your_choice/ faqs/new_housing_rebate/
4 BC NEW RENTAL HOUSING REBATE (HST)
Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit. www.hstinbc.ca/making_your_choice/ faqs/new_housing_rebate/
5 BC PROPERTY TRANSFER TAX (PTT) FIRST TIME HOME BUYERS' PROGRAM
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000. For more information: www.rev.gov. bc.ca/rpt
FIRST-TIME HOME BUYERS' TAX CREDIT (HBTC)
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2010) x $5,000. For the 2010 tax year, the maximum credit is $750. For more information: www.cra.gc.ca/hbtc
7 BC HOME OWNER GRANT
Reduces school property taxes by up to $570 on properties with an assessed value up to $1,150,000. For 2011, the basic grant is reduced by $5 for each $1,000 of value over $1,150,000, and eliminated on homes assessed at $1,264,000. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,150,000 and eliminated on homes assessed at $1,319,000+. For more information: www.rev.gov.bc.ca
8 BC PROPERTY TAX DEFERMENT PROGRAMS
Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes. Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes. Property Tax Deferment Program for Families with Children. Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes. For more information: www.sbr.gov.bc.ca and enter 'Property tax deferment' in the search box or contact your municipal tax office.
9 CANADA MORTGAGE AND HOUSING (CMHC) RESIDENTIAL REHABILITATION ASSISTANCE PROGRAM (RRAP) GRANTS.
This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites. For more information: www.cmhc-schl.gc.ca/en/co/prfinas/ prfinas_001.cfm
10 CMHC MORTGAGE LOAN INSURANCE PREMIUM REFUND
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient mortgage or make energy saving renovations. For more information: www.cmhc.ca/en/co/ moloin/moloin_008.cfm#reno
11 ENERGY SAVING MORTGAGES
Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy efficient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy SaverT Mortgage, may qualify for a rebate of $300 to their RBC account. For more information: www.rbcroyalbank.com/products/mortgages/energy-saver-mortgage.html
12 LOW INTEREST RENOVATION LOANS
Financial institutions offer 'green' loans for home owners making energy efficient upgrades. Vancity's Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for 'green' renovations. RBC's Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution or go to : www.vancity.com/Loans/BrightIdeas/ or www.rbcroyalbank.com/ and in the search box enter 'energy saver loan'.
13 LIVESMART BC: EFFICIENCY INCENTIVE PROGRAM
Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC. Rebates are for energy efficient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider. For more information: www. livesmartbc.ca/rebates
14 BC RESIDENTIAL ENERGY CREDIT
Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST. For more information: www.sbr.gov. bc.ca/documents_library/notices/HST_ Notice_010.pdf
15 BC HYDRO APPLIANCE REBATES
Mail-in rebates of $25 - $50 for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers until March 31, 2011, or when funding for the program is exhausted. For more information: www.bchydro.com/rebates_savings/appliance_rebates.html
16 BC HYDRO FRIDGE BUY-BACK PROGRAM
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition. For more information: www.bchydro.com/rebates_savings/ fridge_buy_back.html
17 BC HYDRO WINDOWS REBATE PROGRAM
Pay no HST when you buy ENERGY STAR high-performance windows and doors. This offer is available until March 31, 2011. For more information: www.bchydro. com/rebates_savings/windows_offers/ current_offers.html
18 BC HYDRO MAIL-IN REBATES/ SAVINGS COUPONS
To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone. Check for new offers and for deadlines. For more information: www. bchydro.com/rebates_savings/coupons. html
19 TERASEN GAS REBATE PROGRAM
A range of rebates for home owners include a $50 rebate for upgrading a water heater, $150 rebate on an Ener-Choice fireplace (both good to March 31, 2011) and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system (good to Feb. 29, 2012). For more information: www.terasengas.com and in the search box enter 'rebates'.
20 TERASEN GAS EFFICIENT BOILER PROGRAM
For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy efficient boiler, for new construction or retrofits. For more information: www.terasengas.com and in the search box enter 'gas efficient boiler program'.
21 CITY OF VANCOUVER SOLAR HOMES PILOT
This rebate of $3,000 (about 50% of the cost) is for a Vancouver home owner upgrading to a solar hot water system from a gas system. Offered by the City of Vancouver, SolarBC, Terasen Gas and Offsetters on a first come, first served basis to March 2011 until the City reaches its target of 30 solar homes. For more information: www.vancouver.ca/sustainability/SolarHomes.htm
22 CITY OF VANCOUVER RAIN BARREL SUBSIDY PROGRAM
The City of Vancouver provides a subsidy of 50% of the cost of a rain barrel for Vancouver residents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver, BC. Limit of two per resident. Bring proof of residency. For more information: www.vancouver. ca and in the search box enter 'rain barrel program.' Other municipalities have similar offers.
23 VANCITY GREEN BUILDING GRANT
In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for projects which focus on building renovations/retrofits, regulatory changes that advance green building development, and education to increase the use of practical green building strategies. For more information: www.vancity. com
24 LOCAL GOVERNMENT WATER CONSERVATION INCENTIVES
Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver, and District of West Vancouver offer a $50 rebate when residents install a low-flush toilet. Visit your municipality's website and enter 'toilet rebate' to see if there is a program.
25 LOCAL GOVERNMENT WATER METER PROGRAMS
Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. Visit your municipality's website and enter 'water meter' to find out if there is a program.
© Copyright (c) The Vancouver Sun
Wednesday, March 9, 2011 Just Listed Top Floor 1 Bed Plus Den at Arbutus Walkby Ben Chimes on Wed, Mar, 9, 2011 06:21 PM Wow! This is truly a penthouse. Located in Arbutus Walk, this suite has 10.5 ceilings, an open plan, floor to ceiling windows, and a true dining area. Perfect for entertaining! The den has a skylight and would make a great office. Hugewraparound deck is perfect for those summer parties. Upgrades include new countertops in the kitchen and bathroom and stainless steel appliance for a beautiful contemporary feel. The building is rainscreened with a pro active Strata. 1 parking, large insuite storage, great location. View full listing with photos here: http://livekitsilano.com/index.html/details-18111143 Friday, March 4, 2011 1 Bed Plus Den Just Listed at The Delanoby Ben Chimes on Fri, Mar, 4, 2011 06:57 PM Delano - in the heart of Kits. A quality lifestyle promises residents of this north of 4th, fully RAINSCREENED building within walking distance to the beach, world class shopping, cool pubs & epicurean restaurants. Sunny, south facing 1bedroom unit with cornered windows & large 100 sq ft balcony welcome the spring air & sunlight. Bright, cheerful colours with functional upgrades that include: new stainless steel fridge, custom built & designed mosaic counter top by local artist, built in shelving, storage & shoe rack. Large bedroom with walk in closet, ensuite bathroom w/ soaker tub. Gas f/p, updated flooring & separate den makes this a no brainer. Pets & Rentals OK. Parking & storage bin incl. Open House Sat/Sun March 5/6 2-4pm Check out the full listing and pics here: http://livekitsilano.com/index.html/details-17782173 Friday, March 4, 2011 Kitsilano Market Statisticsby Ben Chimes on Fri, Mar, 4, 2011 12:52 PM The February housing market in Kitsilano saw a continuation of the two trends that began in January:
(1) A steady rise in inventory (active listings)
(2) An increase in sales activity
As we enter into the Spring season, which is far and away the most active time of year in Kits, look for both trends to continue before tailing off in May. The relatively balanced market that is now present should continue, as the increasing inventory levels will offset the rising demand.
The recently announced decision by most major banks to hold conventional mortgages to 30 amortizations rates as well as unconventional mortgages will impact the purchasing power of some buyers after March 17, but this impact should be fairly muted for the time being as rates remain low.
Embrace the brisk pace and increased selection that the next few months should bring, and get out there and enjoy the early days of Spring!  
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