Resales of newer woodframe condos on Vancouver’s Westside (including UBC lands) has averaged $715 per sq ft over the past year. Pricing has remained relatively flat and has not shown a decline as of July 2012. University condos, averaging $740 per sq ft over the past year, typically trade at a premium to comparable Westside of Vancouver product, which averaged $677 per sq ft over the same time period. There are currently only a handful of active new woodframe projects on the Westside as sites are difficult to locate for developers.

Source: MLS Stats. (woodframe condo resales less than 10 years old)

Vancouver city council approves Aquilini’s three new highrise towers beside Rogers Arena.

 

Aquilini Developments says a three-highrise tower development near Rogers Arena ‘is probably the largest rental project [in Vancouver] in the last 30 years.’

Rogers Arena is set to welcome hundreds of new neighbours after Vancouver city council Thursday night approved the development of three new highrise towers by Aquilini Developments and Construction, run by the same family that owns the Canucks.

According to the $300-million plan, which originally favoured condos in the mixed-used development, a total of 614 one-, two-and three-bedroom rental units would be built in stages over the next several years with the last of the towers — between 23 and 32 storeys — completed in the spring of 2016.

Read more: http://www.vancouversun.com/business/Vancouver+city+council+approves+Aquilini+three+highrise+towers+beside+Rogers+Arena/6961948/story.html#ixzz21BImWWuJ

Coquitlam announces plans for a Lincoln Avenue station on Evergreen Line.

Richmond Review – Another trio of high-rises proposed for oval village.

City staff are recommending approval of another set of high-rises in the oval village, but the latest proposal will force some civic bureaucrats out of the neighbourhood.

Hollybridge Limited Partnership is seeking to rezone 5440 Hollybridge Way, a site across the street from the Richmond Olympic Oval whose current tenants include city staff.

For more on this story: http://www.richmondreview.com/news/162947496.html

Onni Development Corp has completed the purchase of a 1.07 acre residential development site from The University of British Columbia Foundation for $15,375,000.  The property is currently zoned IC-3 and is to be developed as part of the Great Northern Way Campus.