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West Vancouver brokerage among 12 entities fined by Fintrac in 2023/2024 for non-compliance of anti-money laundering and terrorist financing policies.
The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) has fined West Vancouver real estate firm Masters Realty (2000) Ltd., also operating as RE/MAX Masters Realty, $83,655 for five compliance violations of the Proceeds of Crime (Money Lau…
The provincial government's plan to tackle the housing crisis by allowing more multi-unit homes on properties
Almost all British Columbia communities have adopted the provincial government's plan to tackle the housing crisis by allowing more multi-unit homes on properties. The province says nearly 90 per cent of 188 local governments have followed the legislation that…
Many of Vancouver's most fancy condos are selling at discounts
At the similarly over-the-top Hotel Georgia, 14 units are listed. The 48th-floor penthouse was once put on sale at $35.8 million, now it's going for $20.8 million . In the neo-futurist Vancouver House, where Hutchinson says even storage lockers have sold for $…
Vacancy rate hits 9.7%, second straight quarter of increase
Metro Vancouver office vacancies are continuing to tick upwards as developers consider shifting their priorities mid-construction to hotels or residential. The region's overall office vacancy rate rose to 9.7 per cent in the second quarter of 2024, according t…
Rogers will act as the ceremonial head of the university and preside over all major ceremonies and convocations
Rogers was Vancouver's city manager from 1999 to 2008 and most recently served on Vancouver Fraser Port Authority's board of directors, assuming the role of chair in August 2018. Rogers, a former UBC student, received the Order of Canada in 2017. As UBC's chan…
Vancouver council voted in favour of densifying the upscale neighbourhood of Shaughnessy
The matter was discussed at another public hearing Tuesday, after council ran out of time to vote on the motion last week.(opens in a new tab) All eight councillors who were in attendance at the meeting voted in favour of the changes, which will amend the Firs…
Nicola Wealth Real Estate has submitted a proposal to the City of Vancouver for a twin rental tower project at 2111 Main Street
The proposed development site is located between East 5th Avenue and East 6th Avenue on Main Street. Historically, the site housed the City Centre Motor Hotel, built in 1954. After Nicola Wealth Real Estate's acquisition of the property in 2021, it was tempora…
Vancouver council votes to densify upscale Shaughnessy neighbourhood
The matter was discussed at another public hearing Tuesday, after council ran out of time to vote on the motion last week.(opens in a new tab) All eight councillors who were in attendance at the meeting voted in favour of the changes, which will amend the Firs…
City of North Vancouver Mayor Linda Buchanan says the plans will also include ‘job-generating, mixed-use' developments
The provincial government will buy the iconic ICBC building on North Vancouver's waterfront and develop the property as transit-oriented housing. B.C. Premier David Eby made the announcement in North Vancouver Monday. Eby said the province will work with the C…
Onni plans to build its master-planned community half a block from North Road in Burquitlam
A developer plans to tear down Coquitlam College in Burquitlam and build seven towers in its place. But the Onni Group doesn't have plans at this time to include childcare for the expected 2,500 residents. Still, the lack of childcare spaces for the approximat…
Tight financing, sale conditions slow deal-making but interest is steady
A precipitous decline in Metro Vancouver land sales last year could turn around this year, but developers are taking a long-term view with any purchases as market uncertainties continue. "Developers need to replenish some of their inventory; that's starting to…
Two rental towers proposed to be built on the site of the former one-storey Mountain Equipment Co-op store
If there is one rental housing project among the many that are poised to change the look of the Broadway corridor, the proposed development on the site of the former one-storey Mountain Equipment Co-op flagship store in Mount Pleasant is a good example of the …
Lower Mainland housing sales near cyclical lows in peak season
Housing supply is on the rise in the Lower Mainland as more owners try to capitalize on what is normally the peak selling season, but is instead a market facing headwinds and soft sales. Resale inventory moved above 18,500 units for the first time since 2020 a…
Major civic project funding on the line as Burnaby saw $175M shortfall in developer money last year
The City of Burnaby took in $175 million less than expected in developer money last year – and that spells trouble for the future of the city's major community amenity projects. Burnaby expected to pocket almost $237.2 million from developers in 2023, bu…
Vancouver council open to increasing slots, table games at existing casinos
Vancouver city council voted this week to allow for applications to increase the number of slot machines and tables at the city's two casinos, on the condition they be accompanied by an assessment of their social and economic impacts. The request to amend the …
The city has contributed more than $172 million to non-market housing in the form of land
The City of Burnaby has a total of 1,040 non-market housing units, including rentals and co-ops, just built or in development on its land, according to a new city report, and there's more on the way. The city lands program for non-market housing, which was ado…
Land near SkyTrain hubs is 'ideal' for increasing housing supply and a mix of housing types
The provincial government is unmoved by a petition by homeowners in Burnaby's Brentwood Park for an exemption from new legislation that could see up to 12-storey apartments built in their neighbourhood. The "Save Brentwood Park" coalition successfully petition…
The two low-rise buildings, a high-rise tower planned for 2050-2070 Marine Drive in North Vancouver up for sale
One of the larger ongoing development projects on the North Shore is the subject of foreclosure proceedings as a result of a substantial amount of debt and has now been listed for sale, according to filings in the Supreme Court of British Columbia and a sales …
Vancouver considers more gambling at city's two casinos
The B.C. Lottery Corporation wants Vancouver to lift or amend its 13-year-old moratorium on the expansion of gambling in the city. According to the city's general manager of arts, culture and community services, Margaret Wittgens, there has been recent interes…
The proverbial 'Bank of Mom and Dad' is strongest in B.C. and appears to be buoyed by foreign-derived income
British Columbia leads all Canadian provinces and territories in co-ownership arrangements for residential properties between parents and their young adult children, according to a new report from Statistics Canada. The report found 20.3 per cent of the B.C. r…
B.C. housing market showing signs of marginal improvement
B.C.'s housing market saw a slight improvement in March as home sales nudged higher following a 5.9-per-cent decline in February. Sales increased 0.7 per cent to reach 5,866 unit sales. Home prices rose 1.8 per cent. This said, housing momentum has waned in th…
Detached home starts decline as condo, townhome starts boom in 2023
The West Coast housing market saw a significant boost in construction activity last year, according to a new report by the Chartered Professional Accountants of British Columbia (CPABC). The annualBC Check-Up: Investreport found that construction began on 35,5…
Toronto’s Commercial Real Estate Update
An Altus Group study found that, in the final quarter of 2023, the Greater Toronto Area (GTA) witnessed a total dollar volume of $22.8 billion in 2023's final quarter, showing a drop of roughly 25% compared to the year before. Despite this slight deceleration,…
Metro Vancouver industrial real estate market starting to normalize
Metro Vancouver's industrial market is entering a period of equilibrium, as the frenzy that once defined the market dies down. This is according to a Vancouver Real Estate Forum expert panel, which last week described as "more normalized." "There's not this fr…
Royal LePage expands footprint with Lower Mainland acquisitions
The importance of technology to residential property sales – and in turn the investors participating in the market – is once again in the spotlight with Royal LePage's latest brokerage acquisition in Metro Vancouver. Royal LePage Elite West, based …
B.C. may need 700K more housing units by 2030, says economist
The province will have to build somewhere in the range of 500,000 to 700,000 housing units by 2030 to restore 2003 and 2004 levels of affordability, according to Braden Batch, lead economist for B.C. at the Canada Mortgage and Housing Corp. Speaking at a panel…
851 Broughton – 2 new Towers are proposed
The Christ Church Cathedral precinct on the edge of downtown Victoria could be significantly transformed if Concert Properties gets rezoning approval for a two-tower housing project that would bring 370 new homes to what once was a YMCA-YWCA facility. The Vanc…
'Panic and desperation': Leaseholders in Vancouver building rocked by sudden tripling of monthly fees
"There are a lot of seniors in this building and it was advertised and deemed, as all leaseholds are, as an affordable form of housing and contracts were signed in good faith," said resident Ken Lychak. He added that many seniors who live on low or fixed incom…
City Of Burnaby Introduces ProposedRates For Updated DCCs, New ACCs
In November, the Province of British Columbia announced that it would introduce a new development financing tool that would streamline the development timelines that often hold cities back from building housing faster. That new tool, introduced via Bill 46, th…
Tri-Cities turn to transit-oriented development to accommodate population boom
Population growth, increasing demand for housing and new provincial legislation have set the stage for "unprecedented" growth in the area, said Leslie Courchesne, CEO of the Tri-Cities Chamber of Commerce. The result is an increasing number of master-planned c…
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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