The West End Community Plan is on the City’s agenda for Wednesday November 20th. The Plan will guide rezoning and development in the West End, and focuses growth along four main corridors.
In most cases, rezoning applications will require a CAC contribution as part of the public benefit strategy, or will require a substantial social housing component.
Contact me for more information on the Plan and opportunities for redevelopment.
PWC’s annual Emerging Trends in Real Estate 2014 report was released this week. The annual report surveys industry professionals and rates Canada’s nine largest commercial real estate markets on prospects for investment, development and homebuilding.
This year the survey placed Vancouver fourth, just slightly behind Saskatoon, and behind the energy-driven markets of Calgary and Edmonton; in first and second respectively.
Perhaps not surprisingly, respondents placed Vancouver firmly in buy/hold territory for most asset classes in 2014. Here are a couple of examples:
Apartment Buy/Sell/Hold Recommendations
Office Buy/Sell/Hold Recommendations
Download the full report here: http://www.pwc.com/ca/en/real-estate/emerging-trends-real-estate-canadian-summary.jhtml
Be the first to take advantage of the new West End Community Plan!
1546 Nelson Street is an ideally located 6-unit apartment building that offers a stable and secure return for an investor or an owner-occupier. The rear portion of the property is now permitted for additional laneway residential space as part of the laneway housing policies in the forthcoming West End Community Plan. The asking price is $2,050,000.
Brochure: 1546 Nelson Brochure
Contact me for further info: david.taylor@colliers.com
Changes made by the developer to Plaza 88’s proposed fourth tower have done little to appease New Westminster council.
The Degelder Group wants to build a 40-storey highrise with 500 rental units—235 studios and 265 one bedrooms ranging from 312 to 570 square feet—at 900 Carnarvon St. The structure would also include six floors of above-ground parking.
“When I saw this I was really upset. I can understand why when Plaza 88 was originally developed and built there were seven floors of above-ground parking, but at the same token I don’t think that is needed here. They’re also asking for 40 floors which is huge,” said Coun. Bill Harper, who also slammed the small size of the units, at the Nov. 4 council meeting.
“The whole thing is problematic for me. I can’t see myself supporting this. Just because they say they can sell those units today doesn’t mean they’re going to be what we want 10 to 15 years from now. I have real problems with this whole process.”
Read more: http://www.newwestnewsleader.com/news/231616591.html
A recent analysis of resales data for woodframe condos in East Vancouver (less than 10 years old at the time of sale), shows pricing has been relatively flat in the past year, averaging approximately $519 per SF. This market can be divided between high-demand locations such as Main Street, and the rest of the East side.
As an example, recent resales in Bastion’s 3333 Main Street project have been over $700 per SF, whereas new woodframe units in most other areas of East Vancouver are $500 to $550 per SF. Resales along Kingsway and East Hastings are typically less than $500 per SF.