The Evolution of Living Large

with Boffo’s Sales and Marketing Director

---

By Susan M. Boyce
Long celebrated as one of the world’s most livable cities, Metro Vancouver has become a poster child for the joys of high density, condominium living. Experts routinely travel from around the globe to gain inspiration and expertise from our elegant concrete-and-glass towers and dynamic urban hubs. So it should come as no surprise that Metro Vancouver is where you’ll find another emerging trend — large condominium homes designed with three, and sometimes even more, bedrooms. It’s a trend that Karen West, sales and marketing director of Boffo Developments, believes it’s going to continue gaining traction. In this issue of New Condo Guide, she shares some of her thoughts on this growing segment of the condo market place.
Q: Boffo Developments has a reputation of being among the pioneers and earliest adopters of the trend to build condominium homes with larger footprints. What motivates you to do this in a market where the focus is predominantly on creating ever more compact units?
A: It’s easy to forget that as recently as 15 or 20 years ago, large suites were the norm — it was simply the way apartments were built. It wasn’t until housing prices in Metro Vancouver started skyrocketing that developers began looking at a different business model that meant building smaller suites they’d be able to sell for a lower, more competitive price. At Boffo, we simply made a conscious choice to continue building what we’ve always done best — larger suites designed specifically with the end user in mind.


Q: So does that mean the market for these larger suites is primarily driven by a more mature demographic?
A: Initially, yes, buyers who purchased larger suites were mainly downsizers — people selling the house they’ve lived in for 30 or 40 years to get the convenience of lock’n’go living and still have money left over for extras like travel. Today, however, we’re seeing an increase in demand from young couples and professionals. These are sophisticated, savvy buyers who are making an active decision to raise their family in a high density, urbanized environment. They value the convenience of being close to city amenities like restaurants, shops and entertainment — and they use them. What they don’t want is the hassle of a yard or the high cost of a house in the suburbs. Condos are no longer “second best,” they’re now highly desirable, prestigious lifestyle choice.


Q: For people who make this lifestyle choice, what are some of the criteria they look for in a home?
A: Livable space with at least three bedrooms or possibly two bedrooms and a den. Downsizers want to know they can bring their full-sized furniture and aren’t sacrificing the single-family ambiance they’re used to — they can still host a sit-down dinner for eight if they want to. The younger demographic who have either started a family or are planning to have children also need at least three bedrooms that are of a reasonable size because they’re most likely going to stay there a while as their family grows. Vancouverites love entertaining outside so private outdoor spaces are essential — and even though balcony sizes are dictated by individual municipalities, the rule of thumb for most owner occupants is “the bigger the better.” Balconies are now considered an extra room, and like the interior rooms, size counts.

“Vancouverites love entertaining outside so private outdoor spaces are essential”

Storage and flex-space that can be converted to a home office or TV room are high priority features. Plus there’s the luxury component — details like master suites with an extra large shower and soaker tub plus room for their king-sized bed, or kitchens with built-in wine fridges, gas cooktops and over-sized fridges.


Q: Where do onsite amenities fit into the equation?
A: This demographic definitely expects more than an under-equipped fitness area. They want hotel-style amenities — spa, concierge, media room. And they use those amenities. For example, at Jewel in Metrotown, the lounge and chef’s kitchen are constantly booked for events like weddings, anniversaries and birthdays. It’s become an extension of the owners’ living space, a place that feels so comfortable, they want to spend time there.
Q: What do you think the future of large condos will be?
A: I believe demand for these homes will continue to increase and that it’s good for the overall integrity of the Metro Vancouver marketplace to have other developers also beginning to build them. It’s about creating greater choice in the overall fabric of our urban landscape — and ultimately that benefits everyone. For information on Boffo Developments newest projects including Modello, Artemisia and Adagio, visit boffo.ca.
 
Source: New Condo Guide – Metro Vancouver Edition