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Between October 1, 2023 and September 30, 2024, Vancouver recorded a total of 4,143 net new home completions
For the first-year period between October 1, 2023 and September 30, 2024, Vancouver recorded a total of 4,143 net new home completions in its jurisdiction, which accounts for units that were demolished but offset by new completions. This includes 3,745 new sec…
The discussion around development cost charges (DCCs) continues
to gain momentum in British Columbia as a result of the letter-writing campaign a group of prominent developers launched in September, targeting the forthcoming rate increases for DCCs paid to the Metro Vancouver Regional District (MVRD). That letter-writing c…
Restructurings more common in current difficult economic, regulatory environment
Developers in Vancouver are facing a confluence of economic and regulatory factors that are financially stressing projects and making insolvencies more common. Even if developments don't fail, they may require a restructuring to make financial sense in a new e…
The park board has approved designs for the first phase of East Park
Vancouver will be getting a new 1.2-hectare park at False Creek after the park board voted Monday night to approve the design. Park board staff say the first phase of East Park, near the city's Olympic Village neighbourhood, will include a songbird tree grove …
Vancouver Park Board approves designs for an exciting new park on False Creek’s waterfront
November 5 2024 – At last night's Park Board meeting, Commissioners approved designs for the first phase of East Park, a new waterfront destination park on False Creek in Vancouver's Olympic Village. "The East Park Phase 1 concept plan represents an exci…
Condo sellers in towns like Toronto are about to give buyers a windfall chance at low prices
The psychology in some of Canada's biggest condo markets , particularly those with large immigrant populations, has been deteriorating for months, but the meltdown is worsening. It may not be a Chernobyl — because prices will someday recover — but …
Columbia Square redevelopment that was approved this week is just one of many transit-oriented developments
Did you know New Westminster is British Columbia's oldest city? New West was an early pioneer settlement with a history that dates back 10,000 years , it was incorporated in 1859, and it was the first capital city of British Columbia until Victoria took over t…
Prices of new residential homes in Vancouver unchanged from a year ago
New home prices in the Vancouver region declined in September on a month-over-month basis, according to Statistics Canada. In an update released Oct. 25, Statistics Canada said its New Housing Price Index in September was down 0.2 per cent from August – …
Monogram will be a skyline stand out
With its planned height at just under 500 feet, Prima Properties' 49-level Monogram development slated for Burrard Street is set to be a standout in Vancouver's evolving skyline. The mixed-use tower on Burrard Street (at Davie Street) falls under Vancouver's H…
ales over $4 million fell 13% this past summer, according to Sotheby’s
Sales of luxury homes are declining in Vancouver, creating a unique window for buyers to capitalize on a market defined by transitory interest rates, political uncertainty and growing inventory, says a new report. During the summer months, luxury residential r…
Anew redevelopment proposal is in the works for the Royal Towers Hotel site in New Westminster
New Westminster will consider towers of 30 to 40 storeys in height on the Royal Towers Hotel site. The city has received rezoning and development permit applications for the Royal Towers site at 140 Sixth St. -the corner of Sixth Street and Royal Avenue. In or…
The Bank of Canada (BoC) made a jumbo-sized cut on Wednesday morning, lowering the policy interest rate from 4.25% to 3.75%.
This was the fourth announcement of 2024. Such a low has not been seen since December 2022. At first, experts expected a 0.25% rate cut, but after the Consumer Price Index (CPI) fell below the Bank's target of 2% earlier in October, hopes about a bigger cut st…
Metro Vancouver developers propose shifting construction fees directly to homebuyers
Metro Vancouver developers say they should not be on the hook for development cost charges levied on new home construction projects to pay for growth-related infrastructure; however, one developer has pitched a proposal that such fees first be financed by gove…
Another high-rise application comes to City of Delta
Another high-rise application has been submitted to the City of Delta for the busy Scott Road corridor. The application by BMG Projects is for 32-storey mixed-use development at 9321 120 St. and 11958 93A Ave. It would include 395 units including 59 dedicated …
Buyers stay on the sidelines amid shifting rates,
Housing market activity in the Lower Mainland sputtered again in September, even as affordability conditions started to improve for homebuyers. Despite lower mortgage rates, many prospective homebuyers are opting to stay patient, confident of further rate redu…
As Vancouver’s skyline continues to evolve, the issue of building shadowing has become a significant consideration in urban planning.
While discussions often focus on aesthetics, urban design objectives, and public health, there's a growing tension between urban planning principles, mantras, and even ideologies — specifically building shadowing restrictions and the city's urgent need t…
The proposed rental buildings are allowed under the Broadway plan
The Broadway Plan was approved in 2022 and applies to the area between Clark Drive and Vine Street from east to west, and from First Avenue to 16th Avenue from north to south. Its goal is to increase the population of the area by permitting much larger buildin…
City staff say they must reduce requirements for non-market housing
Burnaby has made sweeping changes to its oft-touted affordable rental policy to keep developers building in the city. Once called "sacrosanct," the policy originally required developers to build 20% of a development as below-market rental units to be rented at…
A proposed 21-storey rental housing tower at 1150 Barclay Street, Vancouver
Due to poor market conditions, another condominium tower project in downtown Vancouver has pivoted into secured purpose-built rental housing, with significantly added density and height. Local developer PC Urban has submitted a new rezoning application to rede…
B.C. can take four bold steps to tackle unaffordable housing head-on
Canada's housing problem is at a point of no return. Housing deficits grow each year by hundreds of thousands of units. Our ability to meet the needs of our citizens is eroding, as is our ability to fulfill the promises of a better life we once were able to pr…
Commercial transactions in the Lower Mainland spiked ahead of the June 25 deadline
There were 553 commercial real estate sales in the Lower Mainland in Q2 2024, a 66.6 per cent increase from the 332 sales in Q2 2023, according to data from Commercial Edge, a commercial real estate system operated by Greater Vancouver Realtors (GVR). The tota…
Strand Development has new ambitious plans to redevelop a trapezoid-shaped lot near the Southeast False Creek area
Previously, the local developer had proposed redevelopment concepts with employment-only uses for the site at 302-360 West 2nd Avenue, which is situated at the southwest corner of the unique intersection of West 2nd Avenue, West 3rd Avenue, and Alberta Street.…
The project is set for 3200 E Broadway, 3270 E Broadway, and 2625 Rupert Street
On Wednesday, the City of Vancouver revealed the two concept options that are being explored for the large-scale redevelopment next to Rupert Station, ahead of a formal rezoning application submission by the developers. The project is being led by the xʷmə&the…
At least 700 homes will be built near the Surrey Langley SkyTrain project
Transportation Minister Rob Fleming announced the move, explaining it's the first time the province has made a purchase like this. This project is going to be tremendous for Surrey and Langley, and this project, for once, is going to align the development of o…
Low Tide Properties seeks to build two 35-storey rental towers, 19-storey office building
A real estate company co-founded by the man who created Lululemon is behind a massive development proposal for the False Creek Flats area of Vancouver that features two 35-storey rental towers and a 19-storey office building. Low Tide Properties is working wit…
Vancouver's AI surge a boon for real estate, says CBRE report
Although it fell in this year's rankings, Vancouver remains a popular destination for tech talent, including artificial intelligence (AI) specialists, which will continue to support real estate market fundamentals, according to a new report from commercial rea…
he agent got the maximum allowed penalty for misconduct committed by an individua
British Columbia's real estate regulator has suspended the licence of an agent for six months after he admitted to forging signatures on a land assembly deal in Richmond, B.C., nearly a decade ago. The B.C. Financial Services Authority (BCFSA) said Ramandeep S…
Tower development on 295 Terminal land to house 3 tower development
A proposal has been submitted to build three towers next to a future SkyTrain station on the False Creek flats in East Vancouver. The development beside the Great Northern Way-Emily Carr station includes two 35-storey rental housing towers and a 20-storey offi…
Eli Report is an online tool powered by artificial intelligence
A Vancouver-based startup is changing the way realtors and buyers assess condominiums and townhomes, making the process more efficient and transparent. Eli Report is an online tool powered by artificial intelligence (AI) that scans and summarizes condominium a…
A three-block stretch of character homes is bracing for at least four giant towers
It's a particularly charming residential street — and just one of those being profoundly shaken by Vancouver's Broadway Plan. This three-block stretch of character homes, which currently exemplifies the "missing middle" type of housing that politicians s…
Building List Count by City
- Abbotsford - 447
- Agassiz - 28
- Burnaby - 55
- Burnaby East - 77
- Burnaby North - 365
- Burnaby South - 343
- Campbell River - 1
- Chilliwack - 221
- Cloverdale - 193
- Comox Valley - 10
- Coquitlam - 563
- Delta - 10
- Duncan - 41
- Esquimalt - 59
- Gulf Islands - 6
- Harrison Hot Springs - 13
- Harrison Mills - 1
- Hope - 22
- Ladner - 109
- Langford - 156
- Langley - 529
- Maple Ridge - 312
- Mill Bay - 2
- Mission - 65
- New Westminster - 444
- North Delta - 28
- North Island - 2
- North Saanich - 8
- North Surrey - 409
- North Vancouver - 747
- Oak Bay - 44
- Osoyoos - 1
- Parksville / Qualicum - 7
- Penticton - 8
- Pitt Meadows - 75
- Port Alberni - 2
- Port Coquitlam - 266
- Port Moody - 267
- Richmond - 1162
- Saanich East - 232
- Saanich West - 92
- Sardis - 153
- Sidney - 152
- Sooke - 39
- South Surrey White Rock - 713
- Surrey - 662
- Tsawwassen - 97
- Vancouver East - 998
- Vancouver West - 2482
- Victoria - 665
- View Royal - 46
- West Vancouver - 230
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