Arthur Erickson classic in West Vancouver on market for three times assessed value
What's interesting about this listing — particularly in light of recent B.C. Assessment figures that show detached homes in West Vancouver fell on average 12 per cent between July 1, 2017 and July 1, 2018 — is its assessed value.
A West Vancouver home described as famed architect Arthur Erickson’s “most complete work” is on the market for $16.8 million.
The big price and stunning features of this curved steel and glass home, completed in 1988 for fabricator Hugo Eppich and his wife Brigitte, were of enough interest internationally that the Daily Mail published a story on the home on Sunday.
The article gushes about the home as a “three-tier masterpiece” and a “waterfall of steel and glass”. The home also contains several pieces of furniture and other features designed by Erickson and comes with a carriage house and — naturally — a pool. It has been in the Eppich family since it was completed.
Erickson, a Second World War veteran who died in 2009, had as his trademark the ability to create designs that fit into the natural environment and climate of the building lot. His notable accomplishments include the Simon Fraser University campus in Burnaby and the Museum of Anthropology at UBC in Vancouver. But he also designed many fine homes, including some in West Vancouver.
What’s interesting about this listing — particularly in light of recent B.C. Assessment figures that show detached homes in West Vancouver fell on average 12 per cent between July 1, 2017 and July 1, 2018 — is its assessed value.
According to B.C. Assessment the home is 6,257 square feet — though the real estate listing states it’s 5,887 square feet — and sits on a 1.18 acre lot (the listing can be seen here.)
The assessment authority, as of July 1, 2018, valued the home at $5.258 million, which is comprised of $4.14 million for the land and $1.118 million for the house itself. That’s a $1.6 million drop in assessed value from July 1, 2017, when it was considered by the Crown agency to be worth $6.861 million.
In the current falling real estate market, where homes are being advertised as “below assessed value”, that makes this an unusual listing, not just for the artistic and stunning home that it is, but for the markup based on the fame and noted architectural value that is placed on Arthur Erickson.