After spending the past year tweaking their proposal for a master-planned community that would change the face of the Harbourside Drive waterfront, Concert Properties is close to unveiling their refined plan.

“A lot has transpired in the past year,” Concert Properties’ president and chief operating officer Brian McCauley told City of North Vancouver council on July 22.

• Concert’s Harbourside Waterfront Website

McCauley said Concert’s consulting team has worked with CNV engineers to flesh out the geotechnical work required to build at the waterfront site. The updated redevelopment application now conforms to the city’s minimum 4.5-metre height target for new construction above sea level.

Developers Concert Properties’ and Knightsbridge Properties’ 10-year plan is to create 800 strata and rental housing units, while setting aside 372,000 square feet as commercial space.

Read more: http://www.northshoreoutlook.com/news/219063941.html

As we approach the end of summer, a look at transaction activity in Metro Vancouver at the 2/3 mark of the year shows a fairly significant drop compared to this time last year. Research prepared by Colliers International shows the number of transactions of over $3 Million down slightly for retail and apartment properties, and down almost 50% for office buildings (where supply has been scarce) and land (where demand is down after a busy 2012 that saw many large sites acquired).

An article in the Vancouver Sun mentions Realnet research reflects these numbers and shows even greater declines in Calgary and Toronto during the same period.

Perhaps this indicates the market’s collective belief that valuations are peaking for both investment properties and development sites.

Granville Villa, a 65-unit apartment building located at West 11th Avenue and Pine Street in the South Granville area of Vancouver has sold for $14,867,000; equating to a 3.3% cap rate, and $228,000 per unit. The 3-storey building was built in 1973 and contains mostly one-bedrooms and bachelor units. The building had been listed for sale for $16,500,000.

1152 Mainland Street, a four storey, brick and beam office building on Mainland near Davie Street has been sold to Mark James for $18,500,000. Known as ‘The Yaletown Building’, the 36,911 SF building is described as “the quintessential Yaletown office building offering 20 foot high ceiling and exposed brick and beam construction”. The building was built in 1912 and is located directly adjacent the Yaletown Canada Line station.

The building had been listed for sale earlier this year.

The Real Estate Board of Greater Vancouver has released their July 2013 stats. Generally, the market is showing increased sales activity over the summer months, and while pricing has been generally flat or slightly increasing in most areas. Some other highlights:

• Sales of condos reached 1,210 in July 2013, a 30.5% compared to the 927 sales in July 2012.
• The total number of properties currently listed for sale on in Metro Vancouver is
  16,618, which is an 8.1 per cent decrease compared to July 2012 and a 3.9 per cent decline from June 2013.
• Single family prices continued a downward trend, and are down 3.1% year over year (YoY). Vancouver Westside is down 4.7% during the same period.
• Overall Condo prices in Metro Vancouver are down 1.6% YoY.
• The only area where the overall benchmark price has increased since July 2012? Pitt Meadows, at 1.9% growth.
• Bowen Island (-0.7%) and the Sunshine Coast (-4.3%) are the only areas where single family pricing has declined since January.
• Ladner (-1.4%), Port Coquitlam (-2.9%), Maple Ridge (-3.1%), West Vancouver (-2.9%) and Tsawwassen (-2.6%) are the only condo markets where average pricing has declined since January.

Source: REBGV