The 455 Beach Crescent strata, which governs Concord Pacific’s Park West tower, runs a well-kept, full-service building with an engaged council and a steady routine of renewal. This review walks through what owners pay, what the money covers, the work completed and approved in 2026 and what the depreciation report suggests for the years ahead, based on the strata’s own documents.
Park West is Concord Pacific’s 2005 tower on George Wainborn Park, governed by strata plan BCS1099. The strata covers 173 homes, 164 in the tower and nine townhomes, and shares the Club Viva amenity building with West One, Azura One and Waterford. For sale prices plan by plan, see our Park West pricing guide.
Based on the strata’s June 2026 AGM minutes and fee schedule, the 2026 council minutes, the approved 2026/27 budget, a July 2026 Form B, the March 2026 financial statements, the 2026 insurance summary, the depreciation report and its 2020 update, and the bylaws updated July 15, 2026. Depreciation report figures are approximate planning estimates.
From YuliyaPark West is a building that takes care of itself. The big-ticket items, from the elevators to the parkade, have been done, the reserve keeps growing, and owners have had two years in a row without a fee increase. That’s a good place for a strata to be. — Yuliya Lys
Key Takeaways
- No fee increase, two years running. Fees held flat for 2025/26 and 2026/27 and run about $0.80 per sq. ft. a month, covering 24-hour concierge, a building supervisor and Club Viva.
- A strong reserve. The contingency reserve fund held about $1.85 million in July 2026, after approved spending, and the budget adds $400,000 to it every year, roughly 22% of the annual budget.
- Major work already done. All three elevators were modernized in 2025, paid from the reserve, and the parkade membrane was renewed in 2026.
- The envelope project is underway. Approved by owners in 2024, the building envelope work, including balcony membranes, began in spring 2026 with completion expected in the fall.
- Lower insurance costs. A move to a new broker cut the premium by about $45,000, and the budget for insurance fell from $190,000 to $150,000.
- Quiet years ahead. Council reported at the 2026 AGM that no major projects are expected in the next one to three years.
Buying or selling at Park West? Request the recent sales for your floorplan, along with the strata highlights.
What Owners Pay
Strata fees at Park West bring in $1,795,377 a year under the 2026/27 budget, unchanged from the year before. The strata finished 2025/26 with a surplus of about $74,000, part of which went to the reserve and part toward this year’s budget, which is one reason fees could hold steady.
In practice, fees work out to about $0.80 per sq. ft. a month, from $584.67 for a 1 bedroom and den to $997.37 for the largest corner 2-bedroom on a typical floor. They scale with each home’s size, and the exact fee for any home is on its Form B.
Unit Entitlement: How Costs Are Shared
Unit entitlement is each home’s share of the strata, based on its floor area on the strata plan. It decides how fees and any levies are split, so larger homes pay proportionally more. Park West’s approved fee schedule lists every home’s entitlement, out of 17,401 in total:
| Plan | Type | Sq. ft. | Entitlement share | Monthly fee | Per $100K levy* |
|---|---|---|---|---|---|
| 07 | Corner 1 bed + den | 733 | 0.39% | $585 | $391 |
| 01 | 1 bed + den | 770 | 0.41% | $619 | $414 |
| 05 | 2 bed | 1,036 | 0.56% | $834 | $557 |
| 06 | Corner 2 bed + den | 1,061 | 0.57% | $851 | $569 |
| 02 | Corner 2 bed + den | 1,146 | 0.61% | $920 | $615 |
| 03 | Corner 2 bed + den | 1,247 | 0.67% | $997 | $667 |
| 33, 35 | Sub-penthouses | 1,530–1,930 | 0.82–1.03% | $1,246–$1,564 | $816–$1,029 |
| 36 | Penthouses | 2,020–2,210 | 1.08–1.18% | $1,641–$1,788 | $1,080–$1,178 |
| TH | Townhomes | – | 0.67–1.41% | $1,006–$2,140 | $672–$1,414 |
From the approved 2026/27 fee schedule, effective May 1, 2026, for floors 5 to 32 (the 3rd floor and a few homes differ slightly). Sizes are MLS® plan averages; upper-floor sizes are approximate. Upper-floor and some townhome fees include a $25 gas charge. *Illustrative share of a hypothetical $100,000 levy; there is no levy proposed. Exact figures for any home are on its Form B.
Work Completed and Approved in 2026
The past year has been a productive one. The elevator modernization wrapped up in late 2025, the parkade membrane renewal was completed in 2026, and the building envelope project, which includes new balcony membranes, is underway with completion expected this fall. At the June 2026 AGM, owners approved the budget with no fee increase, moved part of last year’s surplus to the reserve, and approved modest reserve-funded projects: phase 2 of the window seal replacements, painting of every unit door and frame, and an intercom upgrade that lets residents use their own mobile numbers. Owners also updated the bylaws on smoking and parking.
Where the Money Goes
The largest lines are building maintenance and the yearly contribution to the reserve, followed by the staff who run the building. Club Viva is a fixed share, because Park West pays its portion of the pool, gym, squash courts, steam rooms and theatre it shares with neighbouring towers.
| Budget line, 2026/27 | Annual amount | Share of budget |
|---|---|---|
| Maintenance, including HVAC, cleaning and elevators | $500,655 | 27.1% |
| Contingency reserve contribution | $400,000 | 21.6% |
| Concierge and building supervisor | $290,000 | 15.7% |
| Utilities | $238,000 | 12.9% |
| Club Viva | $152,000 | 8.2% |
| Insurance | $150,000 | 8.1% |
| Management fees | $51,912 | 2.8% |
| Grounds and gardening | $41,500 | 2.2% |
| All other lines | $26,000 | 1.4% |
| Total | $1,850,067 | 100% |
Approved 2026/27 operating budget (May 1, 2026 to April 30, 2027). Total income includes strata fees, guest suite rentals, EV charging and a carried-forward surplus.
The Contingency Reserve Fund
The reserve held $1,775,935 at the April 2026 year-end and about $1.85 million in July 2026 after the surplus transfer and approved spending, according to the Form B. The strata draws on it for planned work rather than deferring it; the $317,055 elevator modernization, for example, was paid from the reserve.
The yearly contribution of $400,000 is about 22% of the budget, more than double the 10% of operating expenses that BC stratas must now contribute each year. Separately, the strata held about $1.0 million in its special levy fund at the end of March 2026 for projects already approved.
What the Depreciation Report Suggests
Park West’s depreciation report was prepared in 2016 and updated in 2020 by Morrison Hershfield. It rated most components in good condition and sets out a long-range schedule of renewals as the building ages. Several of its near-term items have since been completed, including the parkade coating, and the building envelope project is underway. The figures below are the report’s approximate planning estimates.
| Suggested year | Main projects | Approximate estimate |
|---|---|---|
| 2021 | Exterior wall repainting and brick cladding sealant | $667,000 |
| 2025 | Parkade traffic coating (completed in 2026) | $1.6 million |
| 2035 | Mainly roof membranes and domestic water piping | $6.2 million |
| 2045 | Mainly window replacement | $22.8 million |
From the 2020 depreciation report update (June 3, 2021), in future dollars at 2% annual inflation and described by the report as Class D estimates, accurate to plus or minus 50%. These are planning estimates, not quotes or approved projects; actual timing depends on condition, and costs are confirmed only when work is tendered.
The report itself notes that windows can often be deferred well beyond their expected service life when they are not causing damage and owners are happy with how they look and perform, and that a pipe analysis before any piping project would refine the timing and budget. A new depreciation report by Stantec will begin once the envelope project is complete, so it reflects the building after this round of work. As with any building of this age, buyers should read it once it is available.
What Else Is in the Documents
Cooling
Suites are heated electrically, and many owners have added their own air conditioning; the bylaws allow in-suite units with the strata’s written approval. An electrical planning report on the building’s capacity is in progress, and two visitor stalls already have EV chargers.
Insurance
The building is insured for about $109 million with HUB International through February 2027. The standard deductible is $25,000, and the water damage and sewer backup deductibles are $50,000 each. As in any strata, owners should make sure their own policy covers the deductible.
Plumbing
A water treatment system protects the copper piping, and the strata has established a preventive maintenance schedule for the storm pipes.
Community
Park West has an active social committee that hosts gatherings through the year and a welcome package for new residents, and a landscaping committee is renewing the flower beds along Strathmore Mews.
Want the full picture for a specific home? I can send the recent sales for that floorplan along with the strata highlights.
Bylaws Buyers Ask About
- Rentals: allowed, with no rental cap in the bylaws; rentals of less than 30 days and vacation rentals such as Airbnb are prohibited.
- Pets: two dogs, two cats or one of each, plus up to two caged birds and an aquarium. Dogs and cats must be registered with the concierge, and pets use the lower lobby or parkade entrance.
- Flooring: new flooring needs written approval; only floating hardwood is allowed in the tower, with an approved acoustic underlay.
- Cooling and alterations: air conditioning units and other alterations need the strata’s written approval in advance.
- Smoking: no smoking or vaping inside homes, on balconies or in common areas.
For Buyers
As with any strata purchase, review the latest Form B, the most recent council minutes and the new depreciation report once it is complete. Confirm the status of the envelope project and any amounts payable for the home you’re buying, and make sure your home insurance covers the $50,000 water deductible. If cooling matters to you, ask whether the home already has an approved air conditioning unit.
For Sellers
The documents tell a good story, so put them forward. Have the 2026 AGM minutes, budget, Form B and depreciation report in your listing package, and point buyers to the work already completed, from the elevator modernization to the new parkade membrane, along with the reserve balance and two years without a fee increase.
For prices and recent sales, see our Park West pricing guide, the West One strata review and our September 2026 Yaletown market report. The BC government explains how depreciation reports and the contingency reserve fund work.
Park West Strata FAQ
How much are strata fees at Park West, 455 Beach Crescent?
Fees held flat for 2026/27, the second year without an increase, and run about $0.80 per sq. ft. a month. A 1 bedroom and den pays $584.67 to $619.06 a month, and a 2-bedroom on a typical floor pays $834.01 to $997.37. Fees cover 24-hour concierge, a building supervisor and Club Viva.
How much is in the Park West contingency reserve fund?
The reserve held $1,775,935 at the April 2026 year-end and about $1.85 million in July 2026 after approved spending, according to the Form B. The budget adds $400,000 to it each year.
Are there any special levies at Park West?
No new special levies were approved at the June 2026 AGM. The 2026 projects, including window seals, unit door painting and an intercom upgrade, are paid from the reserve. Buyers should confirm any amounts payable for a specific home on its Form B.
What projects have been done at Park West recently?
All three elevators were modernized in 2025, the parkade membrane was renewed in 2026, and the building envelope project, including balcony membranes, began in spring 2026 with completion expected in the fall.
What does the Park West depreciation report suggest?
The 2016 report and its 2020 update by Morrison Hershfield suggest roof membranes and domestic water piping around 2035 and window replacement around 2045, as approximate planning estimates. A new depreciation report by Stantec will begin after the envelope project.
Can I install air conditioning at Park West?
Yes, with the strata's written approval in advance. Suites are heated electrically, and many owners have added their own units.
What is the insurance deductible at Park West?
The building is insured for about $109 million with HUB International. The standard deductible is $25,000, and the water damage and sewer backup deductibles are $50,000 each.
Buying or Selling at Park West?
Strata documents read differently once you know the building. If you’re weighing a home at Park West, or thinking about selling yours, I’m happy to go through the details together.
Call or text 604-500-5838 · Email yuliya@yuliyalys.com · Instagram @yuliyalys.realestate
How This Review Was Prepared
This review summarizes the strata documents listed at the top of the article. Names of owners, council members and anyone else appearing in the documents were excluded, and no details of any individual home are included beyond the published fee schedule. Figures are as stated in each document; depreciation report amounts are estimates in future dollars and will change with the next report. This review is general information, not legal, financial or engineering advice. Buyers should review the full documents with their own advisors.
