Some great crane shots of MNP Tower, which is now nearing completion. Fixturing is underway for tenants with opening in the Spring.
Photos by Donald Jones, Flickr.
Some great crane shots of MNP Tower, which is now nearing completion. Fixturing is underway for tenants with opening in the Spring.
Photos by Donald Jones, Flickr.
By ChangingCity
We can finally illustrate this Gastown project. The City of Vancouver’s website has recently added the illustrations, elevations and further details of an office and retail proposal
The façade of the two storey 151 Water St would be retained, and 157 Water Street would be redeveloped, but the existing 6-storey façade would be reconstructed to match the existing building. The project ends up with six floors of office over retail and restaurant uses, and the project would be 95 feet high (the total space would be 105,426 square feet and their notes say it would be 103 feet high to the top of the mechanical room). Musson Cattell Mackey are the architects.
Source:: Changing City
There’s a lot of buzz in the market right now about 2015 assessed values, particularly for residential which seem to be all over the map with respect to increases/decreases from 2014.
For most Vancouver commercial properties over the past decade, market values have been consistently higher than assessment values. There are multiple reasons for this phenomenon, the most obvious of which has been a market that has seen steady capital appreciation rates that continue ahead of the assessors. Here’s a quick look at all of the office buildings that sold in Metro Vancouver in 2014 for over $2,000,000:
Note that in almost all cases, purchase prices fall in a range of 10-40% above assessed value, and only in rare cases do they fall below assessed values. (If you’re wondering why 411 Dunsmuir Street wasn’t included, it was fully renovated and sat vacant for over a year before being fully leased and sold earlier this year and traded for over 3 times assessed value.