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Receive more information about First & Royal by Areva
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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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First & Royal by Areva MLS® Listings
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Building Info
First & Royal at 82 1st St, New Westminster, BC V3L 1H2, Canada. Situated in Downtown New Westminster, First & Royal is a collection of 189 modern homes by Areva Living. Two 6-storey buildings offer a selection of 1- to 3-bedroom condominiums and seven 2-storey townhomes built over two levels of underground parking with stalls for 253 vehicles. FIrst & Royal is Just steps to Queens Park. The 75 acre green space features mature trees, trails, picnic shelters, playgrounds, sports fields, and an off-leash dog area. Head a few blocks south to take in the Fraser Rivers majestic sweep and explore New Wests rejuvenated waterfront. A short stroll away, downtown New Westminster is buzzing. Think historic brick facades, unique owner-run businesses, and a global range of dining options, with the Columbia SkyTrain station and designated bike paths connecting to the wider world.
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.
STORIED NEIGHBORHOOD ROOTED IN THE PRESENT • Central New Westminster location within short walking distance to Columbia SkyTrain Station • You are 30 minutes Drive to Vancouver’s downtown core, 10 minutes to Burnaby and 7 minutes to Surrey • Short walking distance from the green open spaces including Queen’s Park, Tipperary Park, Albert Crescent Park and the Waterfront Pier Park. • Immediately adjacent to the only elementary school in downtown New Westminster; Ecole Qayqayt Elementary • Within walking distance to New Westminster’s amazing locally-owned coffee shops, restaurants, breweries, shops and farmers’ markets!
ALIVE WITH COMMUNITY • A community of two 6-storey buildings, First & Royal is made up of 189 thoughtfully designed homes built by the reputable and quality-driven developer, Areva Living • Made for the people living and working in New Westminster in mind, First & Royal brings the historical charm of New West to the future • Designed by architecture firm, Iredale Architecture, First & Royal’s design infuses a historical aesthetic throughout the building’s exterior • Private outdoor balconies for each home extend the living space and invite the surrounding natural beauty in
HONORING THE PAST • Bringing the past to the future with the restoration of the EMN Woods Cottage (1890), one of the few remaining pregreat fire homes in Downtown New West • Historical stunning wood & stucco exterior with modern and fresh interiors
YOUR PERFECT SPACE • First & Royal’s interiors have been impeccably designed by Portico Design Group • HRV ventilation system • Enjoy the comfort of AC in your home: one remote controlled heat-pump based cooling and heating point included in the living areas for all units • Roller shade window coverings in living, dining and bedrooms • All homes come equipped with energy-efficient front-loading Samsung washer and dryer
THE HEART OF THE HOME • Beautiful woodgrain cabinetry offers abundant storage with soft-close drawers • Chic quartz countertops and backsplashes are featured throughout each kitchen highlighting both style and durability • Stainless steel under-mount sinks with brushed nickel faucets seamlessly blend functionality and design • Gather with family and friends around First & Royal’s sizeable kitchen islands • All homes have appliance packages inclusive of: – 32” Samsung stainless steel refrigerator with French Doors and bottom freezer – 30” Samsung stainless steel electric cooktop and oven – 30” AEG stainless steel built-in over-the-range hood fan – 24” Samsung stainless steel dishwasher – 24” Sleek Panasonic stainless steel microwave with trim kit
BATHROOMS • Stunning quartz countertops are featured throughout offering both elegance and versatility • Bathroom walls and floors are finished with beautiful porcelain tiles transporting you to your favourite spa • Sit back and relieve yourself of daily stress while enjoying a glass of wine in your beautiful large soaker bathtub
AMENITIES Amenity spaces seamlessly blend indoor and outdoor recreation while providing homeowners with ample opportunity to relax, entertain and enjoy all that First & Royal has to offer! Ground Level • First & Royal’s state-of-the-art fitness facility offers top-ofthe-line spin, yoga, cardio, and weight lifting equipment • Don’t forget the popcorn and enjoy your favourite movie on Friday night at First & Royal’s indoor movie theatre Floors 1-6 • Working and studying from home has never been easier or more enjoyable. Take advantage of First & Royal’s coworking spaces featured on each floor • Efficient & convenient entertainment lounge opens up onto outdoor terraces providing the perfect space to host a family dinner or birthday party Rooftop • Own the best rooftop in New Westminster! Enjoy First & Royal’s stunning rooftop amenity space with a unique outdoor theatre, dining and lounge areas, and fire pits • Parents & dog parents can relax knowing that their children & pets are safe while enjoying the outdoor play areas & dog play zones • Beautifully landscaped gardens add serenity while being interspersed with communal garden plots
SMART AND SECURE LIVING FEATURES • All secure residential underground parking stalls are outfitted with EV charging capabilities • Keyless entry allows you to open and manage building entry points from your smartphone or use your physical fob • Send friends and family virtual keys for easy shared access to the building • Smart video-enabled intercom technology allows you to see and speak to visitors and delivery drivers at the front door • At Areva Living all of our homes are backed by the required 2-5-10 home warranty insurance
GENERAL BUILDING FEATURES • Built to Step 3 as per the BC Energy Step Code providing a 40% energy-efficiency improvement, achieved through highefficiency HVAC equipment, better air-tightness and better insulation • 40 Gb Ultra high-speed Fibre Optic Ready internet infrastructure • High-speed Wi-Fi in amenity areas and building parkade
Restrictions
Restrictions updated:
January 2011
Construction Information
Year Built
2025
Levels
8
Construction
Concrete Frame
Strata Information
Strata Plan #
Units in Development: 189
Units in Strata: 189
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