Globe & Mail: Varsity: New life for a village landmark
March 9th, 2007
New life for a village landmark
By Thomasina Barnes
Globe & Mail
Mar 9, 2007
The Salient Group is bringing affordability to Point Grey with their newest residential addition, The Varsity.
Though the project was thwarted in 2005 by an unprecedented rise in construction costs, The Salient Group was able to re-design, re-price and re-launch. Their aim is to create high-quality, high-style living in a prestige neighbourhood without the high pricing. Single family homes in Point Grey are now selling for $1.5 million, three times the price of Varsity.
“The Varsity is designed with the urban flair of a high end Coal Harbour penthouse with the neighbourhood amenities of a multi-million dollar Point Grey home – but without the million-dollar Point Grey price tag,” says developer Robert Fung of the Salient Group.
The project offers 19 condominium units with the ground floor designed for commercial use. It is the first residential project in Vancouver to introduce the Italian Benazzeni commercial gas range stove, which performs like a high quality commercial unit but has a sleek design for personal convenience and gourmet style.
Quality style and quality brands are the theme of Varsity. Almost all of the kitchen appliances (Liebherr fridge, AEG dishwasher and Faber hood fan) have been concealed by and integrated into custom millwork. The floors are covered in solid walnut or smoked oak hardwood and the bathrooms have honed marble countertops and Paini fixtures. The majority of the Varsity units have large outdoor living spaces and seven suites come with outdoor gas fireplaces.
The rising construction costs seen in 2005/2006 were not the only complications for the project. Many feared the new development, which replaces the site’s former occupant, The Varsity theatre, was destroying the history, culture and community appeal of Point Grey Village. But Mr. Fung says he’s looking to rejuvenate the village – not obliterate it.
“The Varsity is built with uncommon style and quality in one of Vancouver’s most established neighbourhoods, which is undergoing a recent revitalization,” says Mr. Fung. “It is a fully concrete building. and is intended to become a Point Grey classic residence on the most exciting block of redevelopment in the area.”
The Varsity has been designed by Neale Staniskis Doll Adams Architects with interiors by Aida Pereira Design to blend progressive contemporary design with the traditional style of Point Grey Village. Construction is under way and occupancy is expected for the spring of 2008.
Developer: The Salient Group
Price: $430,000 to $725,000
Square footage: 705 to 1,154
Sales centre: By appointment
Special to The Globe and Mail