Newsletter



HERITAGE HOME NEWS

NOVEMBER 2015

Underground Oil Storage Tanks

Storage Tanks

Residential underground heating oil storage tanks have been installed in Canada for over 60 years and are a potential source of contamination of soil and groundwater. They also pose a fire and explosion hazard under certain conditions. Although the Ministry of Environment does not specifically regulate underground oil storage tanks, all property owners in BC under provincial jurisdiction are legally responsible for complying with the provincial Environmental Management Act and the Contaminated Sites and Hazardous Waste Regulations.

It is important to know that property owners are responsible for the removal of an underground oil storage tank on their property and remediation of the soil. Owners are responsible for cleanup if an adjacent site becomes contaminated by oil or water contaminated with oil migrating from the original site.

If you think you have an underground oil storage tank, you can contact a professional oil tank removal company to scan your property. If there is no oil tank, a certificate will be issued for prospective buyers. If an oil tank is discovered, it is recommended that you have it professionally removed before listing your property for sale so it does not negatively impact or delay the sale of your home.

 

Heritage Spotlight

Edington ResidenceEdington Residence
848 East 6th St. 1912.
Register Ranking: A

We are happy to report that we sold this house in September to a heritage sympathetic buyer who plans to restore the house to its former glory.

The Edington residence is significant due to its tall proportions, elevated setting and prominent corner verandah. The house retains a high degree of original material and integrity.

Elements typical of the Arts and Crafts influence embellish a functional floor plan that takes advantage of the sloping site and natural light. Charles Frederick Edington and his wife, Ada May, built this commodious residence.

Charles was a motorman for the B.C. Electric Railway that ran electric tramways throughout the greater Vancouver area from 1897 to 1958, and greatly influenced the expansion of suburban neighbourhoods throughout the region.

North Vancouver Market Update

Houses

In October, there were 130 houses sold.

The benchmark price in October was $1,231,200.

The October 2015 benchmark price is up 18.1% from October 2014.

 

Apartments

In October, there were 123 apartments sold.

The benchmark price in October was $381,600.

The October 2015 benchmark price is up 8.4% from October 2014.

Heritage

In October 2015, there was 1 heritage house sold. It was located in Lower Lonsdale.

The house was listed for $998,000 and sold in 7 days for $1,100,000.

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