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Receive more information about The Terraces
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No
Thank you for visiting
bccondos.net. You have requested to Contact one of our very skilled local realtors but have informed us you are currently working with a Realtor. Unfortunately since you have an agency relationship with that realtor, we
cannot interfere. If you choose to work with our area specialist instead, please click “NO” and continue with the request form. Change answer to "No" I am not working with a realtor
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MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
The Terraces - 19789 55 Avenue, Langley, BC V3A, Canada. Crossroads are 198 Street and 55 Avenue. A stunning collection of 28 city homes situated in the heart of the city of Langley. Choose from three bedroom, three bedroom + flex space, and four bedroom plans. Estimated completion in 2018. Developed by Waterstock Properties. Maintenance fees include gardening, management, and snow removal.
An inspired new development where city style meets country spirit. Close to the comforts of the city, yet just removed enough to allow one to wind down in superior comfort after a long day. Every aspect of these city homes are designed and built with modern living in mind. Whether it's the incredible architecture that blends seamlessly into its environment or generous interiors that utilize every inch of space to allow for an effortless and elevated living space.
The closest park is Brydon Park. Schools nearby are Relevant High School, Diamond Elementary School, Douglas Park Community School, Nicomekl Elementary, Blacklock Fine Arts Elementary, H.D. Stafford Middle School, and Media Centre. Grocery stores and supermarkets nearby are Michael's No Frills, Save-On-Foods, Safeway, H-Mart, Real Canadian Superstore, and Glenn's No Frills. Short drive to Willowbrook Shopping Centre, Langley Regional Airport, and City of Langley Library.
Other buildings in complex: The Terraces Three - 19760 55 Ave, , The Terraces - 19789 55 Ave, The Terraces Two - 19790 55A Ave
Vancouver council open to increasing slots, table games at existing casinos
Vancouver city council voted this week to allow for applications to increase the number of slot machines and tables at the city’s two casinos, on the condition they be accompanied by an assessment of their social and economic impacts.
The request to amend the city’s 2011 gambling moratorium was made by the B.C. Lottery Corp., which told council the city’s population has increased 22 per cent in the past decade and that the amendment is a first step to allow BCLC to look at ways of expanding its two existing facilities — the Parq casino in Yaletown and Hastings Racecourse in East Vancouver — rather than building more casinos.
The city has contributed more than $172 million to non-market housing in the form of land
The City of Burnaby has a total of 1,040 non-market housing units, including rentals and co-ops, just built or in development on its land, according to a new city report, and there’s more on the way.
The city lands program for non-market housing, which was adopted in 2015, leases city-owned lands at a nominal rate to non-profit housing providers through a public request for proposals (RFP) process.
The city has contributed about $172.44 million as part of the program, including land, grants and on-and-off-site works, according to the report which accounts for 11 projects that recently completed or were in progress as of March 2024.
The assessed value of the land makes up more than $120 million of that $172-million total contribution for the 11 projects.
Household Financial Health and Housing Market Trends
According to the March 2024 Edge Report, current trends in debt service ratios and net worth may indicate areas of concern. The prevalence of static payment variable rate mortgages, household debt-to-GDP ratios, and Canada’s heavy reliance on real estate assets, may raise concerns about resilience.
In Q4 of 2023, debt servicing costs stayed stable, with the household debt service ratio holding steady at 15%. This ratio, which reflects the portion of disposable income allocated to debt repayment, remains significantly high, at levels not seen since 1990. A minor adjustment downwards from the previously reported peak of 15.2% in Q3 should be noted, however.
The federal government’s new Housing Plan, announced on April 12, 2024 and supported by Budget 2024, introduced a provision aimed at helping renters build credit by integrating rent payments into credit histories. It proposes amendments to the Mortgage Charter, encouraging collaboration among fintech companies, credit bureaus, and lenders to include rental payment data in credit scores.
The government calls on these agencies to create an ecosystem where renters can choose to include their rental payment history in their credit scores. It also expects lenders to prioritize comprehensive credit information, including rental payment history, in credit evaluations whenever feasible.
Federal Budget 2024: What are the proposed capital gains tax changes and how might they affect me?
The capital gains tax inclusion rate – today and tomorrow
Today, only 50% of the capital gain is taxable (this is known as the capital gains tax inclusion rate). This means that $50,000 of the $100,000 earned from the sale of the cottage in our example is added as income for that tax year.
Here’s an example:
Your regular income, earned from your full-time job, is $75,000
You make a $100,000 profit from the sale of your cottage (after you pay real estate fees, closing costs, etc.)
50% of the profit is taxable, which means you add $50,000 to your income during the tax year in which you realized this capital gain
$75,000 + $50,000 = a total income for that tax year of $125,000
The amount of tax you ultimately pay in that year will depend on your tax bracket and its marginal tax rate.
Large ENERGY STAR® windows throughout for maximum light
2" faux wood blinds throughout
Engineered European Oak hard wood floors
Contemporary, flat-stock wood baseboards and door casings
Plush carpeted floors
Contemporary 48” electric fireplace by Hampton Bay with user friendly remote and digital temperature display.
Modern, streamlined solid core Madison doors by Jeld-wen to all bedrooms and bath
Kitchen
Stainless steel appliances by Whirlpool, including a 5-burner gas range and convection oven, a refrigerator with bottom-mount, freezer drawer, and a dishwasher with AccuSense® Sensor Cycle
Contemporary, slide out range hood in stainless steel by Broan
Choice of white, Shaker-style cabinets or slab door cabinets with chrome hardware and soft-close doors & drawers
Polished Quartz countertops with tile backsplash
Deep, double-bowl under mount sink
Single-lever, gooseneck pull down faucet with integrated spray function by Symmons
Bathroom
Choice of white, Shaker-style cabinets or slab door cabinets with chrome hardware and soft-close doors & drawers
Tile floors and bath/shower surround
Single-lever, polished-chrome faucet, shower head and trim by Symmonds
Under mount, drop-in or vessel sinks
Ultra contemporary polished chrome tub/shower set by Symmons
Matching accessories by Symmons Duro Series
Timeless modern toilet by Davit
Powder room on main or ground floor
Ensuite
Double vanity with under mount
sinks, polished Quartz countertop and backsplash
Ceramic tile floor and shower surround
Ultra contemporary polished chrome shower system by Symmons
Standard walk-in double shower with 6 mm frameless glass enclosure (Platinum Upgrade: 10 mm frameless glass enclosure)
Exteriors
Westcoast contemporary style architecture
James HardiePlank® and HardiePanel® siding with cedar wood and cultured stone accents
Northwest garage door with Liftmaster chain garage door opener and two remotes
Front and rear hose-bibs
Spacious private landscaped terraces with lighting
Lush landscaping, flowering shrubs, plants and grasses
Amenities
Dedicated visitor parking on site
Easy access to the nearby Brydon Creek trail system
Near Nicomekl Elementary School, HD Stafford Middle School, Langley Secondary School and Langley Fundamental Middle & Secondary
Walking distance to shopping, restaurants, and parks
Close to major commuter and transit routes
Features/Amenities from other sources
Exterior Lighting
In Suite Laundry
Rooftop Deck
Maintenance Fees Include
Gardening
Management
Snow Removal
Restrictions
RENTALS ALLOWED
Restrictions updated:
January 2011
Construction Information
Year Built
2018
Levels
3
Construction
Frame - Wood
Roof
Other
Foundation
Concrete Perimeter
Exterior Finish
Other
Strata Information
Strata Plan #
Title to Land
Freehold Strata
Units in Development: 28
Units in Strata: 28
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