If you’re a property owner in Metro Vancouver and looking for relief in this year’s property tax bill, well let’s just say it’s not going to happen. For property owners living in one of the priciest regions of the country—the West Coast real estate market keeps going up—and so does your bill.
The good news is that BC Assessment also released the 500 most expensive properties in the province today, and it gives you a glimpse into how the rich get richer.
Number 1:
Kitsilano tops the list with Lululemon founder Chip Wilson’s new 30,000+ SF home coming in at just under $58 million.
The second most expensive house comes with its own island (James Island) 780 acres, private docks and six guest cottages.
Belmont Avenue:
Five of the houses are on Belmont Avenue and all are new except for one from the ‘80s. In fact, with the exception of the 10th most expensive house on Point Grey Road built in 1962 there is only one heritage house in the exclusive top 10, which probably isn’t surprising given the frantic way we’ve been bulldozing these old beauties.
The Hollies:
Number 7 on the list is the Hollies at 1388 The Crescent, and the only house in the top 10 from Shaughnessy. At $27.4 million it’s less than a half the value of Chip Wilson’s sprawling modern mansion and the only one on the heritage inventory.
I wrote about The Hollies in At Home with History. The heritage inventory describes the 13,000 SF house as a “rambling Neoclassical Revival structure.” The house was built in 1912 by George E. MacDonald, general manager of the Pacific Great Eastern Railway. With its giant entrance and huge columns, it looks like it would be at home on some exclusive Greek island.
It’s deceptive from the front gate, but inside, the mansion has six bedrooms, five fireplaces, an indoor pool designed by Arthur Erickson in the ‘80s, a putting green, tennis courts, a playground, and a coach house. The MacDonald’s sold the house and its two acres of land in 1921 and it changed hands several times until 1950 when it became a guest house. At one point the owners paid their property taxes by renting out the mansion as a wedding reception hall.
Ironically, considering the exclusion of “Orientals” in the first stage of Shaughnessy’s development, in 1991 the address changed from 1350 to 1388 The Crescent to attract Asian buyers.
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