Sun
PHOTOS BY BILL KEAY, TOP; IAN LINDSAY, ABOVE/VANCOUVER SUN At the Flagship model (above) is Concord Pacifc executive Peter Webb; at the Cross Roads model (top), Dyan Delaney.
The interior features of Flagship’s open concept living/dining area include white oak engineerred hardwood floors in natural or taupe finish, large format porcelain tile floor in enclosed balcondy and choice of two interior finishing schemes in the countetops, cabient and flooring options. The imported stainless steel appliance package includes a sub-zerro fridge, Viking 5 burner gas cook-top, Miele wall oven, Miele dishwasher, Miele hood fan, microwave and in-sink waste disposal. The countertops are marble although a quartz engineered stone option is available
Location: North shore, False Creek
Presentation centre location: 1550 Homer Mews
Hours: By appointment
Telephone: 604-899-8800
Web: concordpacific.com
Project size: 23-storey building, 115 apartments
Residence size: 1,055 sq. ft., 1 bedroom +den); 1,232 sq. ft., 2
bedrooms; 1,418 sq. ft., 3 bedrooms
Prices: From $700,000
Developer: Concord Pacific
Architect: Hotson Baaker Boniface Haden and IBI/HB
Interior design: Ledingham Design
Tentative occupancy: December, 2007
When luxury-apartment prospects go shopping they are not seeking small homes and, further, they are seeking the best finishes and appointments money can buy, if the Concord Pacific experience this year and last is a guide.
After the success of the luxury Erickson project, Concord Pacific decided there was more luxury demand to be met. All the homes measured up at 2,000 square feet at least. Most sold within weeks.
Consequently, Concord Pacific decided to redesign Flagship to appeal to luxury-apartment prospects.
Although initial designs were done on Flagship, Concord Pacific had not released the homes for sale when it went to market with the Erickson.
This meant there was still time for the designers to go back to the drawing board and increase the Flagship homes’ square footage.
This they achieved by basically scrapping one apartment on every floor, resulting in an average gain of 300 square feet, or 30 per cent, for every home not eliminated.
After Erickson, the average Flagship square footage is 1,300; before, it was 1,000 square feet.
Some of the larger homes are now large enough to accommodate a piano, a result that has resulted in the outline of a “Baby Grand” drawn on the floorplans.
Concord Pacific also polished up the ”specs.”
“Before-Erickson” upgrades, like stainless steel appliances and wood floors, are”after-Erickson” standard.
The developer also introduced the singular or unique into the interiors.
The double vanity in the master bathrooms, for example, will be built to a Concord Pacific design. It lights up, with motion sensors turning on lights when anyone enters the bathroom.
“Concord in the fall of ’05 marketed the Erickson project. We targeted a demand we saw coming through the release of our penthouses – a demand for our prime properties,” says Peter Webb, vice-president of development for Concord.
“We’re finding in today’s market people are looking for the best product they can find.”
Surprisingly, Webb says while the perception is off-shore money is fueling the hot high-end market these individuals account for less than half of the sales of this product.
Instead, he says, it is locals who are taking advantage of “low cost money.”
They realize the market is moving rapidly so they expect their properties will only increase in value as Vancouver’s economy continues to prosper and plans are underway for Olympic 2010.
The Flagship, already half sold, , is the last opportunity to buy a currently zoned False Creek waterfront property. The project is already under construction and will be ready for occupancy in late 2007.
Concord does have rezoning applications under way at city hall for future waterfront towers, near the Cambie Bridge at Pacific and Expo boulevards; at the east side of the Plaza building; and at Beatty and Georgia.
The company which has been redeveloping the former Expo site since 1987 expects to have completed the build-out within five to seven years. In the end, Concord expects to build another dozen towers in the area by the time it is through.
When Concord Pacific first began selling apartment it sold them for as low as $252 a square foot. Today, until someone in the organization comes forward and says not true, it is commanding more than $1,000 a square foot in Flagship.
Webb says he knows of quite a few people who have done well buying and reselling Concord properties, and believes the Flagship will be a good investment. He notes the tower is being built across from the Olympic Athletic Village at the southeast end of False Creek.
“People buying in this tower will of course be getting an excellent view,” says Webb.
Indeed, because the tower is directly in front of the seawall buyers can’t get any closer to the waterfront.
The glass and concrete tower was designed in such a way that even the rear units will still have a waterfront view, though restricted.
This is the only Concord tower that the city has allowed to be built directly on the seawall. Others have been required to have step-backs, such as the townhomes that surround the Erickson building.
The reason for the difference is the Flagship is adjacent to an open park – Coopers Park – so a stepback wasn’t deemed necessary by the city.
The display suite is also unique in that visitors enter via an “elevator” which has a window that shows the view homeowners have of Science World as the “ascend the building.” In actual fact, you exit into the hallway of the one-floor presentation centre.
Buyers of Flagship are able to use the 14,000-square-foot Esprit City Club, with its 60-foot pool, two bowling lanes, Hollywood style movie theatre, meeting rooms, exercise gym and concierge. There’s also a fleet of kayaks they can borrow. The Esprit Club is located nearby in another Concord building.
© The Vancouver Sun 2006