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Development

Housing Moves into False Creek Flats

Vancouver city planners vow that Onni’s plan to build 209 condominiums in the largely industrial False Creek Flats will not spark a housing frenzy on what many view as a warehouse and distribution area.

Instead, Onni’s two-building Canvas development, which will launch pre-sales later this month, is the exception, City of Vancouver general manager of planning Brian Jackson stressed to Business in Vancouver.

 “There’s no permission for any further residential other than what Onni has,” Jackson said. Thanks to Metro Vancouver’s two-year-old regional growth strategy, any change in zoning on the flats will require more than just Vancouver city council approval. Converting what is mostly industrial land to other uses would also require regional approval.

 “We’re looking at this as being primarily a jobs area,” said Jackson.

 He added that city staff are preparing land-use and transportation plans for the area, which is bounded by Clark Drive, Great Northern Way, Main Street and Prior Street. They will present that plan to council next year, when council considers approving tearing down the Georgia and Dunsmuir viaducts to the east.

Read more: http://www.vancourier.com/news/housing-moves-into-false-creek-flats-1.930889

March 28, 2014by david.taylor@colliers.com
Market Research

MARKET SPOTLIGHT: Concrete Condo Resales Prices

Here is a snapshot of pricing for resales of concrete condos in Vancouver’s submarkets over the past two years. It shows moderate price gains in most areas, with those more pronounced gains in Burnaby and North Vancouver as a result of newly completed projects which saw some resales upon completion.

Concrete Condo Sales_PPSF_March 2014

The analysis used only condos built since 1999 and concrete construction. Surrey was the only submarket without any price growth since 2012.

March 20, 2014by david.taylor@colliers.com
Development

Vancouver Council Approves Oakridge Centre Rezoning

The hotly debated Oakridge Centre redevelopment rezoning was passed by city council Friday after three days of public hearings.

All Vision Vancouver councillors voted in favour of of the proposal. NPA councillors George Affleck and Elizabeth Ball and Green Party Coun. Adriane Carr voted against it.

The project will include 11 residential towers between 19 and 44-storeys in height and bring massive change to the landscape of one of Vancouver’s most central neighbourhoods.

Continued from public hearings on Monday and Tuesday, Friday’s session rounded out the bulk of the 138 speakers who appeared during the three days to voice their opinions to mayor and council. Although there was a mix of speakers in favour and opposed throughout the ongoing public hearings, a majority of speakers Friday afternoon mounted a last ditch defence against the project.

Resident Carey Murphy said the deviation from the 2007 policy for the area is too significant and said that what the proposal does to the owners of the Terraces residential complex at Oakridge Centre is “just shameful.”

Marine Gardens resident Charlene Gunn spoke on numerous issues related to the increase in density, such as the need for more schools and police and fire services.

“Oakridge and Marpole aren’t just pieces of land with investment potential, they are communities,” said Gunn.

Read more: http://www.vancourier.com/news/vancouver-council-approves-oakridge-centre-rezoning-1.899724

March 17, 2014by david.taylor@colliers.com
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