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City council defers 165-unit rental housing proposal over concerns related to tower shadowing nearby park
Vancouver city council has deferred a decision on whether to allow a developer to build an 18-storey rental housing tower in a Mount Pleasant neighbourhood populated by a high concentration of heritage houses over concerns related to shadowing of a park. The p…
One of the outcomes of this drop in value of some presales is that more units are put up for sale right away.
Thousands of presale buyers in Metro Vancouver face completing their purchase of condos that are now worth less than they were in 2022 and 2023 when they signed the contracts to buy them. More than half of the appraisals required by mortgage lenders to complet…
Vancouver city council approves rental towers on former Safeway site in West Point Grey
The revised proposal that was approved Tuesday has a lower street-front podium, its tallest towers are pushed farther north on the lot, the sidewalks and plaza have been widened, and the commercial space is increased. Article content The property's 571 rental …
Keltic Development acquired 5502 Lougheed Highway, currently occupied by REVS Bowling, in 2023
ust under two years after making the high-profile acquisition, Vancouver-based real estate developer Keltic Development has unveiled its redevelopment plans for the REVS Bowling site in Burnaby. The 4.3-acre site is located at 5502 Lougheed Highway, steps away…
New contractor PCL Constructors is working under a $1.95 billion "target-cost" contract to finish the project, which includes incentives if it can bring it in under budget, but project critics are still not reassured.
Construction on Metro Vancouver's $3.86 billion North Shore wastewater treatment plant is ramping back up this month under a "target-cost" contract with its new contractor, PCL. But the final price tag is still not set in stone. Metro had already spent $737 mi…
Prince of Dubai puts penthouses at Fairmont Pacific Rim up for sale
A company whose beneficial owner is the crown prince of Dubai has listed four penthouse units at the Fairmont Pacific Rim condo tower in downtown Vancouver in a potential sale that offers a rare glimpse into the upper echelons of the city's luxury real estate …
Shawn Oaks site at 5505-5585 Oak Street in Vancouver, Landmark Premiere Properties in receivership
A large-scale redevelopment plan for a site near Oakridge Park that has been in the works for several years is set to be delayed even further as the developer is now facing receivership proceedings, according to court filings in the Supreme Court of British Co…
The key False Creek property has sold for an undisclosed sum
Vancouver's Plaza of Nations, a prominent but largely derelict waterfront parcel, has been sold for an undisclosed sum. The price is believed to be several hundreds of millions of dollars. There has been renewed attention on False Creek's northeast shore &mdas…
City council backs demolishing hotel
The heritage building at 500 Dunsmuir Street, owned by Holborn Properties, has been empty since 2013. It will be demolished within three weeks . There was unanimous support at a meeting of Vancouver city council on Wednesday for the recommendation that the 167…
Greater Vancouver Realtors say the number of homes that changed hands in the region increased 28.1 per cent
The real estate board says there were 2,181 sales of existing residential homes last month, still 12.8 per cent below the 10-year average but up from the 1,702 home sales recorded in November 2023. It says there were 3,725 newly listed properties, up 10.6 per …
Proposal to redevelop Poco Place shopping centre, which is located at 2755 Lougheed Highway
The Poco Place property is a transit-oriented development site directly served by the Westwood Street bus stops for the R3 Lougheed Highway RapidBus. It is also a 15-minute walk from SkyTrain's Lincoln Station or a 20-minute walk from SkyTrain's Coquitlam Cent…
Squamish Nation's Senakw rental housing complex
Sen̓áḵw is the largest First Nations residential development partnership in Canada's history . The project will create over 6,000 homes at our village site in the heart of the area known today as Vancouver — bringing desperately needed rental hous…
The District of North Vancouver will not be looking at opportunities to redevelop places of worship
At meeting Monday, Nov. 18, a split 4-3 vote on the issue narrowly failed, with Mayor Mike Little and Couns. Herman Mah, Lisa Muri and Betty Forbes opposed. The initiative was brought forward by Coun. Catherine Pope, who wanted to direct staff to explore oppor…
Vancouver Mayor Ken Sim directed taff to limit the 2025 property tax to no more than 5.5%
According to City staff, 4.5% of the property tax rate increase goes toward increasing the growing costs of operations and providing services, and 1% goes toward specifically directly addressing rapidly aging and under-sized utility infrastructure, especially …
$574 million in federal financing to help build 950 rental homes in Vancouver
The federal government is providing more than $574 million in financing to help build about 950 rental homes in Vancouver. The government says in a news release that a project on 42nd Avenue is one of four locations receiving funds through the Apartment Loan C…
CLC to sell its share in the Jerico Lands to MST
In October 2014, CLC and MST entered a joint partnership to acquire the 21-acre former BC RCMP headquarters campus, now referred to as the Heather Lands , located within the Cambie Corridor just west of Queen Elizabeth Park, and the 52-acre eastern portion of …
Investor ownership is influencing the condominium markets
nvestor ownership is influencing the condominium markets in key urban centers like Toronto, Vancouver, and other Ontario cities. Investors hold a significant presence among small condominium apartments in Toronto and Vancouver. In 2022, nearly two in five cond…
For the first time since July 2021, average asking rents for all residential property types in Canada saw an annual drop in October.
According to the latest report from Rentals.ca and Urbanation , rents dropped 1.2 per cent compared to October 2023, bringing the average monthly rent to $2,152. This decline is primarily driven by decreases in larger cities, particularly in British Columbia a…
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…
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…
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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