Nearly a quarter of condos in Vancouver are empty or occupied by non-residents in some dense areas of downtown, a signal that investors play a significant role in the city’s housing market.

And the city overall has a much higher rate of empty apartments and houses than other Canadian cities, with a rate closer to places like New York and San Francisco at the height of their mortgage crisis in 2010.

Downtown, the rate is so high that it’s as though there were 35 towers at 20 storeys apiece – empty.

That’s the latest discovery that adjunct UBC planning professor Andrew Yan made when he analyzed 2011 census numbers to try to add more information to the contentious debate over whether Vancouver is turning into a high-end resort or offshore investors’ holding tank.

Read more: http://www.theglobeandmail.com/life/home-and-garden/real-estate/vancouvers-vacancies-point-to-investors-not-residents/article10044403/

Developing Story: Pacific Arbour puts Dunbar seniors’ plan on hold.

It could be weeks or months before Pacific Arbour decides whether to submit a revised application to the city for a senior’s facility it hoped to build on property on the east side of the 4600 block of Dunbar Street between 30th and 31st avenues.

Earlier this month, the city rejected its rezoning application to build a six-storey seniors residence south of Stong’s grocery store. City staff cited concerns about affordability and how it fit into the Dunbar Vision Plan, which envisions buildings up to four storeys.

President Peter Gaskill told the Courier Pacific Arbour is not working on a revised application at this time and that, in the company’s opinion, a four-storey building is not financially feasible at current land prices.

Bastion Development Corporation in conjunction with the Musqueam Indian Band are constructing a 9,000 linear foot marina at the foot of Granville Street in between Vancouver and Richmond.  The project will have in-water moorage for 226 recreational boats and dry-stack storage for 190 boats. There will also be a service shop, cafe and 228 stall parking lot.  The project also includes a new observation deck, wildlife habitat created from the by-product of site dredging, cycling and jogging trails.

Visit http://milltownmarina.com/index.html for more information.

The City of North Vancouver is currently in the public input stage of their CityShaping initiative, which is a 6-step process that will culminate in the revision of the Official Community Plan to accomodate growth over the next 20-30 years. The City expects to draft an amended OCP sometime in the summer, with adoption by the end of 2013. This comes at an interesting time for the City in the wake of the contentious Onni rezoning at Lonsdale and 13th Ave, which was approved by a slim margin last week.

Potential Growth Areas

Source: City of North Vancouver

What are the potential changes? City staff are proposing a number of land use change scenarios that would impact specific areas. Overall the City is expecting an additional 8,000 units built by 2041. Here are few areas being contemplated for increased density:

• Central Lonsdale Town Centre – Potential changes would consider the area encompassing the 100 & 200 blocks east and west of Lonsdale from 13th Street to the Highway, the addition of up to 350,000 square feet of primarily residential development Harry Jerome precinct, the maintenance of the Town Centre Land Use designation (13th Street to 17th Street) , with provisions to increase this with density bonuses; an increase to the permissible density in the Urban Corridor Land Use designation, and the creation of a new land use designation on Lonsdale north from 17th Street to Highway #1.
• East Third Street – Apartment and/or townhouse developments could be appropriate for some locations. A number of property owners in this area have approached the City to discuss density changes in light of the anticipated reconstruction of Low Level Road and the proposed expansion of the Richardson International grain terminal. The changes also include potential increase in permissible density along the East Third Street frontages, and an area bounded by Low Level Road St, Patrick’s Avenue, 2nd Street, and St. David’s Avenue, Moody Avenue.
• Mahon Park Node  – an area south and east of Mahon Park could be considered accommodate townhouses, or medium density housing catering to families; it is currently single family.

Other points of discussion include increasing density in the Lions Gate Hospital Precinct, gently densifying areas currently designated R1, and not changing densities in the Lower Lonsdale area.

Here is a quick look at Vancouver’s largest residential and mixed-use/residential projects that are either under construction or at the latter stages of planning and approvals. What is notable is that a large majority of the projects are transit-oreinted; if not built directly near a Skytrain station, then within a short walking distance of one. Planning efforts to densify around transit have been formalized in the Official Community Plans of cities such as Burnaby, Surrey and Richmond.

Now on to the list. Limited to developments of 400 units or greater, the list represents 34 projects totaling 39,647 units. Almost all of the projects are multi-phase buildouts of 2 to 10+ years. Telus Garden, Marine Gateway and 1400 Howe are the only projects being built in one go.

There are 10-15 other major projects in the works that aren’t yet at the stage of approvals or construction.