Building permit values in Vancouver hit $1.1 billion for the first half of 2012, a 39 per cent increase over the same period in 2011.

According to Vancouver mayor Gregor Robertson, over 6,000 jobs were created in the first half of 2012 because of construction activity in the city.

Commercial and industrial construction in the first 6 months of 2012 showed a rise in a year-to-year comparison with the same period in 2011. As of June 30, just over one million square feet of non-residential floor space was approved through building permits.

Courtesy: Journal of Commerce, September 4, 2012

A 3.2 acre property located at 12320 Trites Road in the Steveston area of Richmond has been listed for sale with David Taylor of Colliers. An existing strata-titled industrial property known as ‘Steveston Industrial Estates’ represents a rare opportunity to develop 28+ single family lots in Richmond and achieve a 4% return during the rezoning process.

The property is designated in the OCP and local area plan for Single Family Residential. The existing strata industrial property provides solid income (approx. $520,000 net operating income) during a potential rezoning process. Furthermore, the existing lease terms allow vacant possession as early as 2013.

The property is located in an established residential area devoid of new single family lots, and there is potential for further assembly.

Please contact us for further details.