One of the more land constrained markets in the Lower Mainland, there has not been a lot of opportunity for new multi-family residential development in West Vancouver over the past several years.
With the exception of some standing inventory in two small lowrise and townhouse projects, there are no actively selling projects. However, there are several large scale developments in various stages of planning and approval.
These include:
None of the above projects are straightforward development processes from an approvals standpoint. This combined with West Vancouver’s notoriety as a difficult municipality to deal with the public may push out the timelines that projects are delivered to market.
This dearth in new supply on the horizon is pushing sales prices well above $800 per sq ft in most locations. The lack of opportunity to live in West Vancouver on an affordable basis is likely to reinforce pricing for the foreseeable future.
Despite being a highly attractive destination for end users, many developers do not even place West Van on their radar due to the lack of opportunity and a negative perception in getting projects approved.
