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412 289 ALEXANDER Street in Vancouver: Hastings Condo for sale in “THE EDGE” (Vancouver East) : MLS®# R2276500

Posted by Aedis Realty on June 21, 2018
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Growing Pains in Railtown

The Nascent Neighbourhood

Railtown 1The Vancouver Observer, an online independent newspaper, in an October 2013 article describes Railtown as “A taste of Brooklyn in Vancouver” and as “Vancouver’s final frontier.” The article defines this small area as within Alexander Street on the south and the railyards on the Burrard Inlet waterfront on the north between Columbia Street and Heatley Avenue. A May 2014 Canadian Broadcasting Corporation (CBC) online article defines the area as somewhat larger extending from the waterfront as far south as Hastings Street between Main Street and Hawkes Avenue, a slight shift eastward, but both articles include a core area from Alexander Street north between Main Street and Heatley Avenue, and both express concern over gentrification.

The Gentrification Controversy

In a sidebar, “A brief history of gentrification in Vancouver,” The Observer defines gentrification as “people being pushed out of their neighbourhood by people with more money,” noting that the gentrification boom follows a long period of deterioration in which property values fell to very low levels. During this period, nobody paid property taxes, the city seized land for delinquent taxes, then sold it for bottom-level prices to buyers eager to profit from the 1966 Strata Titles Act, which for the first time made mere apartments real estate. Before that law there were no condos, just single-owner or cooperative properties. Condominium construction and conversion accelerated gentrification of neighbourhoods and displacement of their residents unable to buy into the change.

Railtown 3The Observer concludes that the city should explore “more creative modes” of property ownership by cooperative, shared ownership of whole buildings, cohousing, and laneway housing, small structures typically built in the rear of pre-existing. The CBC laments the facts that rapid growth in Railtown may be good news for business but that 13,000 Downtown East Side low-income residents living on pensions or welfare benefits face the threat of eviction.

New Attractions

Once a rough industrial district of dives and brothels, Railtown today is home to the avant-garde Railtown Design District, six affiliated businesses aiming to make the neighborhood a centre of architectural advancement. In addition to the Design District, Railtown has seen several new businesses and cafes arrive as old warehouse and factory buildings convert to new uses. The Vancouver Urban Winery has an historic building in which it manufactures, packages, imports, and distributes wine for multiple brands and hold functions and parties around wine themes. So popular has this new venture proven to be with patrons that it started in 2012 with two employees and now has thirty.

Information Links:

http://strathconabia.com/
http://vancouver.ca/home-property-development/dtes-local-area-plan.aspx

Downtown Eastside Development Plan

Railtown, Gastown, and the rest of the Downtown Eastside may see major changes from the city council approval in March 2014 after two days of public hearings of a plan to guide future development. The mayor says the plan reflects “aspirations for safer and more stable Railtown 2housing, protections for low-income residents, stronger support for mental health and addictions, and a more vibrant local economy.”

The plan is ambitious in its aims to accommodate developers who have driven up land values by purchasing, redeveloping, or speculating on neighbourhood properties and to protect low-income residents increasingly struggling to afford rent and food as neighbourhood costs increase. Plan critics say provisions for new or replacement “social housing”* units, upgrades to single-room occupancies, and rent-subsidized units may help some area residents but will leave others in squalor or on the streets. Whether the plan does enough for all 6,300 residents on social assistance and 6,000 others on low incomes is uncertain, but in a no-condos zone along Hastings Street new structures must be at least 60 percent social housing, and one third of those new units must rent at shelter rates. The plan protects heritage buildings and designates Railtown as a potential location for office use.

* The British/Canadian term “social housing” is synonymous with “public housing” in the USA.

New Railtown Live MLS Listings

412 289 ALEXANDER Street
Hastings Vancouver V6A 1C2

$898,800
Residential Attached beds: 2 baths: 2.0 954 sq. ft. built: 1999

Main Photo: 412 289 ALEXANDER Street in Vancouver: Hastings Condo for sale in "THE EDGE" (Vancouver East)  : MLS®# R2276500
Prop. Type:
Residential Attached
MLS® Num:
R2276500
Status:
Active
Bedrooms:
2
Bathrooms:
2
Year Built:
1999
THE EDGE-Railtown’s sought-after & unique concrete mid-rise with a very trendy location steps to downtown & the best restaurants & shopping. This 954 sqft, 2 bed, 2 full bath, double height loft is very cool with soaring 15’ floor-to-ceiling windows, big south facing balcony w/ peaceful views of trees & blue sky, brick feature walls & fireplace surround, HW floors, & sleek kitchen w/ gas stove. Versatile bedroom on the main with double glass sliding doors & loft bed. Upstairs has the large master bedroom with den, built-ins & nice ensuite. The Edge has an excellent reputation & a fabulous 7,000 sqft amenity building (woodworking & metal shops, kiln & ceramics rooms, music rehearsal rooms, darkroom plus exercise room). Rentals & pets ok. 1 secure parking.
Property Type:
Residential Attached
Dwelling Type:
Apartment/Condo
Home Style:
Year built:
1999 (Age: 19)
Total area:
954 sq. ft.
Total Floor Area:
954 sq. ft.
Total unfinished area:
0 sq. ft.
Main Floor Area:
616 sq. ft.
Floor Area Above Main:
338 sq. ft.
Floor Area Below Main:
0 sq. ft.
Basement Area:
0 sq. ft.
Finished Levels:
2.0
Rainscreen:
Bedrooms:
2 (Above Grd: 2)
Bathrooms:
2.0 (Full:2/Half:0)
Kitchens:
1
Rooms:
5
Taxes:
$1,956.78 / 2017
Lot Area:
0 sq. ft.
Exposure / Faces:
South
Rear Yard Exposure:
Outdoor Area:
Balcony(s)
Water Supply:
Plan:
LMS3818
Total Units in Strata:
165
Heating:
Construction:
Foundation:
Basement:
None
Roof:
Floor Finish:
Fireplaces:
1
Fireplace Details:
Natural Gas
Parking:
Parking Total/Covered:
1 / 1
Parking Access:
Exterior Finish:
Title to Land:
Freehold Strata
Suite:
Floor
Type
Size
Other
Main
Main
Main
Above
Above
Floor
Ensuite
Pieces
Other
Above
Below
Pets Allowed w/Rest., Rentals Allowed
$300.78
Clothes Washer/Dryer/Fridge/Stove/DW
Central Location, Recreation Nearby, Shopping Nearby
Bike Room, Elevator, In Suite Laundry, Workshop Detached
PL LMS3818 LT 62 DL 196 LD 36. GROUP 1, & DL 4281; TOGETHER WITH AN INTEREST IN THE COMMON PROPERTY IN PROPORTION TO THE UNIT ENTITLEMENT OF THE STRATA LOT AS SHOWN ON FORM 1.
Dist to Public Trans:
Property Disclosure:
Fixtures Leased:
Fixtures Removed:
Cats:
Yes
Dogs:
Yes
Services Connected:
Electricity, Natural Gas, Water
Listed Date:
Previous Price:
Original Price:
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Larger map options:
Listed by RE/MAX Real Estate Services
Listing information last updated on June 18, 2018 at 11:18 PM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$599,950
Min list price:
$375,000
Max list price:
$2,488,000
Avg days on market:
23
Min days on market:
3
Max days on market:
204
Avg price per sq.ft.:
$771.85
These statistics are generated based on the current listing's property type and located in Hastings. Average values are derived using median calculations.
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