Vancouver News & Blog

Canadian retailers experience biggest decline since 2009 recession - Statistics Canada

Western Investor · 30 Mar 2021 · Frank O'Brien

Vancouver Island posted the largest retail asset sale in the second half of 2020, with the Woodgrove Centre in Nanaimo transacting to a new, private investor who immigrated from China, for $99.9 million.

32-storey office tower located at 1166 West Pender Street in downtown Vancouver

Western Investor · 26 Mar 2021 · Frank O'Brien

"We chose Vancouver because we believe in its world-class economy and future, and this partnership was a natural fit because of Reliance Properties' commendable track record and our shared values," said Syl Apps, senior managing director for Hines. The company…

Marpole multi-family unit sells for $10.5 million located at Laurel Street, Vancouver

Western Investor · 26 Mar 2021 · Goodman Commercial Inc.

Marpole multi-family property, 54 years old but well maintained on a 0.44-acre site, sold for the equivalent of $318,182 per door at a cap rate of 2.85 per cent.

Metro Vancouver rental apartments increase up to 34% in Q1 2021 despite freeze on rental rates

Western Investor · 24 Mar 2021 · WI Staff

In the City of Vancouver, the vacancy rate for new rental buildings – completed in the past five years - soared from 1.4 per cent

Proposed $10 billion facility Powell River to reduce Lower Mainland road traffic and Port of Vancouver to supply chain congestion - (JPI)

Western Investor · 23 Mar 2021 · Glacier Media

JPI said the Jervis Inlet port would divert rail traffic from the Vancouver region and eliminate the need to spend $3.5 billion to eliminate Metro Vancouver transportation bottlenecks.

Vancouver hit the highest monthly listing record as of March 15 by REBGV

Western Investor · 19 Mar 2021 · WI Staff

The higher listings come at an opportune time, he noted, because sales as of mid-March are also on pace for the highest monthly level on record

1.05-acre industrial land at West Abbotsford sold for $2,988,800

Western Investor · 19 Mar 2021 · Frank O'Brien

The Metro Vancouver Regional Industrial Lands Strategy Report, released June 2020, found the region, as of 2015, had only 28,000 acres of industrial land, but that 80 per cent of that had already been developed.

Vancouver housing market - records keep increasing for the new listings in March 2020

Livabl · 18 Mar 2021 · Sean MacKay

Skipworth, 2,663 homes have already changed hands in the Vancouver region during the first half of March. That mid-month total is higher than all the transactions recorded during the entire month of March 2020.

Zone RT-2 Two Family Residential unit sold for $11.5 million located 4940 & 4958 Main Street, Vancouver

Western Investor · 18 Mar 2021 · Goodman Commercial Inc.

Vancouver mixed-use development site has four houses, a multi-family property and four commercial rentals, but has potential for a six-storey apartment rental with a floor-space-ratio of 3.3.

City Hall rejected a proposed 11-storey condo building across from a subway station for being too tall

The Province · 18 Mar 2021 · Dan Fumano

The condo building proposed for the northwest corner, currently home to a gas station, was refused last month by Vancouver's development permit board after board members cited concerns about the project's height.

Rental prices drop in metropolitan cities but Vancouver city remains number 1 on spots

The Vancouver Sun · 17 Mar 2021 · Shari Kulha

Vancouver still ranks No. 1, with Toronto a close second. The rental rates there and in many other cities have fallen, following from pandemic changes many residents made to their lifestyles.

Toronto and Vancouver rental markets continue to fall to lowest levels recorded since 2017

Livabl · 16 Mar 2021 · Michelle McNally

The Padmapper report analyzes rental data from Canada's top 24 urban areas. This month, the report noted that prices grew in nine communities, stayed flat in six, and declined in the remaining nine.

New commercial building at a prime lot location at 4330 Kingsway in Metrotown

Western Investor · 16 Mar 2021 · Slate Asset Management

Capital Point is set on a prime location at 4330 Kingsway in Metrotown and it is built to Slate's demanding standards representing the pinnacle of premium strata offices in Metro Vancouver .

Beedie Group’s proposed condo tower vs. City of Vancouver Court of Appeal

The Vancouver Sun · 16 Mar 2021 · Dan Fumano

Supreme Court Justice Shelley Fitzpatrick agreed with the city on that point, writing in September: "Beedie has not pointed to any evidence to support allegations of bad faith against the city which should be more fully investigated through full-blown pretrial…

Metro Vancouver still maintained its spot as the top preferred market by investors

Western Investor · 16 Mar 2021 · WI Staff

The retail sector had a surprisingly strong finish to the year, up 18 per cent in total investment volume for 2020 compared to 2019.

Vancouver’s housing market price increase compared to other metropolitan centers

Western Investor · 16 Mar 2021 · Graeme Wood

The City of Vancouver composite benchmark home price is 2 per cent higher now than a year ago, but Saskatoon's composite home price is up 9 per cent from February 2020 .

Different marketing strategy used by Mount Pleasant instead of traditional brochure

The Vancouver Sun · 14 Mar 2021 · Joanne Lee-Young

Some developers may more creatively court potential tenants because they need to make leasing targets to qualify for construction financing.

Metro Vancouver region is experiencing a critical shortage of industrial land - Regional Industrial Lands Strategy

Western Investor · 05 Mar 2021 · Graeme Wood

Industrial lands comprise 4 per cent of the region's land base, and accommodate 27 per cent of the region's jobs, states Metro Vancouver. And to meet the demand forecast to 2050, an additional 800 to 1,600 hectares are needed.

February 2021 home sales increase up to 73.3 percent, from same month in 2020 - REBGV

Livabl · 02 Mar 2021 · Sean MacKay

"Metro Vancouver's housing market is experiencing seller's market conditions. The supply of listings for sale isn't keeping up with the demand we're seeing. Competition amongst home buyers is causing upward pressure on home prices," said REBGV Chair Colette Ge…

Jack Chow well-known Chinatown figure has died at the age of 90

CBC Radio · 27 Feb 2021 · CBC Staff

"Jack will always be loved, and his family will always be grateful to him for all his dedication to family unity and togetherness."

Metro Vancouver more than 4 million office space vacant due to COVID-19

Western Investor · 26 Feb 2021 · Frank O'Brien

Due to COVID-19, many businesses are shuttered and workers are under stay-at-home orders, which leaves commercial space vulnerable.

Metro Vancouver office space vacancy rate facing the highest vacancy rate in years due to pandemic

Western Investor · 24 Feb 2021

"Canada's largest cities have been disproportionately impacted [by COVID-19] as high population densities and dependency on mass transit created logistical challenges which reduced office occupancy," the CBRE report stated.

2021 industrial real state vacancy rate below 1 percent for the first time - CBRE

Western Investor · 19 Feb 2021 · WI Staff

Demand for industrial space appears driven by distribution space needed by large retailers and the e-commerce sector.

Metro Vancouver’s sales increase of rental properties up to 2.7 percent in 2020 compared 2019

Western Investor · 18 Feb 2021 · WI Staff

This could be linked to Metro Vancouver's rising rental vacancy rate, which increased to 2.6 per cent as of October 2020, from 1.1 per cent a year earlier, the highest increase in 20 years, according to Canada Mortgage and Housing Corp. (CMHC).…

Community engagement will define future real estate development

Western Investor · 17 Feb 2021 · Franck O’Brien

First Nations and local governments underscored discussions about the past, the present and, most notably, the future of real estate development in Metro Vancouver.

80 acres redevelopment site located between Cambie and Burrard Street on South shore False Creek - City of Vancouver

Western Investor · 16 Feb 2021 · Mike Howell

The False Creek South Neighbourhood Association has asked for clarity for at least a decade, according to its website.

Surrey vacancy rate office market fallen to 4.8 percent tightest in Metro Vancouver

Western Investor · 11 Feb 2021 · Frank O’Brien

This year, tenants and strata office buyers are expected to snap up more than 219,000 square feet of Surrey offices, according.to Avison Young, and most of that will be in brand new buildings.

Greater Vancouver housing market remains strong in January 2021

The Vancouver Sun · 10 Feb 2021 · Peter Kenter

Buyers are largely motivated by a desire to live in different accommodations with some remaining in the same general area and others looking to relocate.

Pandemic wont stop REITS in rental markets even if manifested by the increase of vacancies

The Vancouver Sun · 09 Feb 2021 · Joanne Lee-Young

More real estate investment trusts, which have deep pockets and make investments so they can pay shareholders, are interested in Vancouver and B.C. properties, but it's hard to predict if other large deals like this are coming, said Coulson.…

17-acre light industrial property at 3990 Marine Way in South Burnaby with a minimum bids start at $63 million

Western Investor · 03 Feb 2021 · WI Staff

The City of Burnaby, where industrial land is scarce and the industrial vacancy rate is among the lowest in Metro Vancouver, is looking to sell a "prime" 17-acre light industrial property at 3990 Marine Way.