Hard work pays off: This young homeowner's on his second real-estate deal in 14 months – Vancouver Sun

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Stuart Barkley has just gone through his second real-estate deal in 14 months. Which is nothing unusual in Metro Vancouver – and no big deal in a town where people eat, sleep and breathe real estate 24/7.

What makes Stuart different is that he’s just 28 years old and is already well on his way to building his dream of financial independence.

“I’ve always been a saver, so after university, I’ve tried to set aside money slowly but surely,” Barkley said in a recent interview. “(I have) lived minimally and frugally for as long as I can remember. My mantra for years was, ‘Do I need that or do I just want it?’”

It’s a philosophy that has served him well. His latest purchase is a two-bedroom condo on the 13th floor of Alaska, Amacon’s 22-storey concrete tower just south of Brentwood Town Centre. It is a spacious 915 square feet and has a wrap-around balcony with an unobstructed view towards Metrotown.

Barkley’s first property purchase was a 519-square-foot, one-bedroom condo in a 14-storey tower off New Westminster’s Columbia Street. He put down 15 per cent on the unit, which listed at $415,000.

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What has really helped him acquire a home at Alaska is his new job at a well-known appliance dealership. “My pay doubled, but I lived the same as I did before,” said Barkley.

He admits that pulling off this second deal, which cost twice as much as the first one, could be more demanding. “Financing for Alaska will be tricky, quite frankly, as my pay varies from year to year,” he said. “So this means I have to work hard for the next couple of years!”

Amacon, like many established developers, has found the last 18 months a challenge, especially in trying to predict who is going to be buying this year. “Last year, it became a guessing game,” says Grace Sartori-Austin, the company’s director of sales and marketing. “Were people preparing to hunker down? Was this the time to invest?”

The company had initially intended to put Alaska on the market in spring 2020 but then hit the pause button on it, she said. “We took another look at the market through the summer and the early fall. We couldn’t trend it, though. There were very few projects that were going to be launched during the pandemic.”

In the end, the company decided, “What the heck, let’s go for it.”

That has turned out to be the right decision. As of this month, the company has sold 50 per cent of the project’s 164 homes and now plans to start construction this spring with a completion date in 2023, said Sartori-Austin.

About 50 per cent of Alaska homes are one-bedroom units and the rest of the homes include a variety of plans and sizes: a one-bedroom and den model, six loft-style homes, two- and three-bedroom residences, as well as penthouse units on the 22nd floor.

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Interior designers Jill and Kendra Bauer said they designed the interiors for a busy lifestyle and a wide demographic “taking a modern boutique, New York-type vibe.”

“Our idea of the ‘New York vibe’ is mixing materials, (like) old and new, raw and polished, metals and woods. It’s about not being afraid to combine materials to achieve a layered space that exudes warmth, all while maintaining a tasteful colour palette,” said Kendra.

“Layering materials and playing with textures creates an edgy yet inviting atmosphere. The lobby boasts high ceilings and windows, a wood-louvred partition behind the concierge desk, black metal and bronze accents throughout and a modern open concept mail area. Hotel-lobby-inspired lounge areas invite you into a space where you are proud to host guests, whether in the various amenities or your suite.

“We took a similar approach for the suites — mixing natural elements. The suites feature woodgrain accents throughout, honed concrete-style quartz counters and marble-inspired porcelain tiles in the baths, brushed nickel plumbing, custom veined quartz counter in the kitchens and warm, wood laminate flooring. We incorporated popular and convenient open-wood shelves in the kitchen and baths.”

Amacon has chosen Italian appliance manufacturer Fulgor Milano to supply the gas cooktop and electric wall oven and Faber for a slide-out hood within the suites. The integrated refrigerator by Fisher & Paykel and the integrated dishwasher by Blomberg. A full-size stackable washer and dryer are made by Whirlpool.

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Bathrooms have deep soaker tubs, frameless glass showers in ensuites and a mirrored medicine cabinet with LED accent lighting.

Common interior amenities include a guest suite, social lounge with kitchen, a children’s playroom, a games room, and work-share spaces with free wi-fi and whiteboards.

Outside there’s the Central Green with over 8,000 square feet providing a fireplace and lounge area, outdoor kitchen and gas barbecue, as well as a children’s play area and community garden space.

Alaska

Project Address: 4433 Alaska St., Burnaby

Project Scope: A total of 164 one, two and three-bedroom homes, including garden homes and lofts in a 22-storey concrete highrise tower. Common amenities include The Central Green, a more than 8,000 sq. ft. outdoor area, including an outdoor fireplace, lounge, kitchen and children’s play area.  Ten minutes walking distance from Brentwood Town Centre Skytrain station, Brentwood shopping centre, and parks.

Prices: From $489,900 for homes ranging from 508 sq. ft. to 1,547 sq. ft.

Developer: Amacon

Architect: DYS Architecture

Interior Design: Jill Bauer Design

Sales centre: 4455 Alaska St., Burnaby

Sales centre hours: Noon to 5 p.m. Saturday through Thursday (closed Friday).  Book an appointment on-line prior to arrival.

Sales phone (or text): 604.299.9191

Website:Alaskaliving.ca

Occupancy: Spring 2023