TransLink considers selling property to raise funds.

TransLink is revisiting a plan to sell assets, like the Oakridge transit station, to fund its operations, warning that while such a move is not sustainable long-term, it beats cutting much-needed transit services.

The move has surprised regional mayors — who warn it’s a “slippery slope” to take — but CEO Ian Jarvis said selling the centre and moving it to a new location could bring in $220 million. Without the sale, he said, the beleaguered transportation authority would have to rely on its surplus reserves, which would likely be depleted by 2014.

Read more: http://www.vancouversun.com/business/TransLink+considers+selling+property+raise+funds/6668897/story.html#ixzz1vnTAliB6

Home listings double in Dunbar since last year.

With more than double the number of listings from last year, homebuyers on the West Side can apparently afford to take their time.

The number of homes on the market in the Dunbar area is up almost double from this time last year, according the Real Estate Board of Greater Vancouver. Board president elect Sandra Wyant said the increased supply means buyers have more time to shop around.

A look at assessed values for single family homes across Metro Vancouver shows that approximately 70% of Metro Vancouver’s “luxury homes” are located in the City of Vancouver. Luxury homes are defined here as single family dwellings with a 2012 assessment of over $2,000,000. West Vancouver, which has long been a luxury home market, represents a further 20%, with the balance spread out across the lower mainland.

A telling statistic is that over 26% of single family dwellings in the City of Vancouver are now assessed at over $2,000,000. Over 55% of homes in the City of Vancouver (including East Vancouver) are now valued at over $1,000,000. It will be interesting to see how future economic and interest rate movements affect these numbers.

Source: BC Assessment Data

Vancouver real estate guru talks condominiums.

When a new condominium project sells out in one day, as it did with the Marine Gateway building in April, ever wonder who actually buys one of the units?

Real estate marketer Bob Rennie, whose company was responsible for selling the 414 apartments at the Cambie and Marine towers, gave some indication in his annual speech Thursday to the Urban Development Institute.

Read more: http://www.vancourier.com/news/Vancouver+real+estate+guru+talks+condominiums/6646930/story.html#ixzz1vbmgD0yt

The District of North Vancouver is currently undertaking community consultations on the Lower Capilano Marine Village Centre Plan. The area has been identified as one of the four key Town and Village Centres under the District’s new Official Community Plan, which was adopted in 2011. This will likely result in a dramatic change for an area that has seen relatively little development over the past 20 years.

Initial concept work proposes a public plaza extending west from Capilano Road south of Fullerton Avenue. The plan incorporates mid-rise residential buildings up to a density of 2.50 FSR, as well as commercial uses at grade.  The plan also calls for transportation improvements, a community centre, and public art as part of the development program.

A draft plan is expected to be put together in late 2012, with approval expected in 2012/2013.

More information can be found here.