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Development

Marpole Community Plan Revised; New Plan Back To Old Plan

After widespread opposition to late changes in the Marpole Community Plan this summer, the City of Vancouver has presented a revised draft plan that pulls back on changes in quieter single family areas and focuses growth along the main arterials including Granville, Oak and Marine Drive.

Here are the changes:

Before

marpole-plan-map-beforeAfter

marpole-plan-map-afterThe newest draft is essentially a return to the initial draft plan that was presented this spring. It focuses growth in 4-12 storey buildings along arterial streets, as opposed to townhouses.

The resistance to the Plan was almost entirely a result of late changes before the final draft presentation in June. At that time, the City proposed rezoning a large swath of single family lots to townhouse. This was a change that had not been presented nor widely discussed and it angered a great deal of residents. It resulted in the Plan being sent back for an additional round of consultation.

Not only did this move result in a delay of the plan, it was probably pointless and showed a disconnect from economic feasibility. With most single family lots in the range of 5,000-6,000 SF and house values of $1.5M+, a rezoning to townhouse would not have yielded any increase in value for most owners based upon land value and very little redevelopment would’ve occurred anyway.

What has the City likely learned from this process? In predominantly single family areas, residents are most likely to oppose new density increases except along main arterials where traffic is present already and attendant property values are lower due to their location.

What’s next for the Plan?

The City of Vancouver will be holding a dozen or so open houses and community discussion events to receive feedback on the revised plan before looking for council approval in early 2013.

Stay tuned for detailed analysis on implications and opportunities in each of Marpole’s five subareas…

November 8, 2013by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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