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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…
Vancouver developer asks for another extension on $10-million city fee
Anthem Properties was required, as part of rezoning for a 33-storey, 127-unit West Georgia Street condo development, to pay $26.1 million for what's called a community amenity contribution to offset costs to the city resulting from the project. Anthem paid mor…
Budget 2024: B.C. introduces new home-flipping tax
Flipping Tax The BC Home Flipping Tax is a 20 per cent tax on the gain from sale of a home within a one-year time horizon and a pro-rated tax on sales up to within a two-year period. The tax will apply to both properties and assignments of contracts and is in …
Canada’s commercial real estate landscape is set for a “seismic shift” not seen since the early 1990s
While the high interest rates of 1982 ruined many, Bains said the downturn of 1993 was even worse for the Vancouver real estate market in terms of liquidity. The liquidity challenges have returned in the current environment, where interest rates have risen fas…
BC Real Estate Association numbers point to market ‘uptrend’ at beginning of 2024
The association says 3,979 sales were completed last month, for an average price of $957,909, a more than 10-per-cent jump from the year before. Association chief economist Brendon Ogmundson says the sales numbers show a "clear uptrend" to kick off 2024 with a…
BC industrial markets look to home in the face of headwinds
Smaller deals to local owner-occupiers are characterizing industrial markets in B.C. and Alberta as demand cools and construction costs remain high. "Anyone who absolutely had to have that large-bay space, they were having to commit to pre-construction buildin…
North Vancouver's Sinclair Dental sells to global distributor Medline Canada Corp.
North Vancouver-based dental supply and equipment distributor Sinclair Dental has sold to global medical-supply distributor Medline Canada Corp. for an undisclosed amount in a transaction that executives say will keep customers served to the same high standard…
What should Metro Vancouver do about the commercial truck parking dilemma?
Should the City of Delta consider exploring the permitting overnight on-street parking for big rigs on roads in industrial areas or on some public roads. A recent regional district staff report to the Metro Vancouver Board of Directors outlined the ongoing iss…
Vancouver real estate projects in receivership: ‘A blip’ or a beginning?
"Given where we are in an interest rate environment that we haven't seen in 20 years, is it a blip or view into the future?" said Yan, who serves as the director of Simon Fraser University's City Program. "I'm not sure." While he may not know the definitive an…
RioCan sells Surrey's Strawberry Hill Shopping Centre: $155M
The 35-acre centre near 72nd Avenue and 120th Street includes retailers such as The Home Depot, Winners, HomeSense, Sport Chek and PetSmart. It's also home to a Cineplex cinema and includes a large amount of surface parking area. Strawberry Hill has 35 retail …
A Vancouver waterfront view with a quirk: no property transfer tax
"NO PROPERTY TRANSFER TAX," it claims. "NO EMPTY HOMES TAX." Built in 1960, the 19-storey, 68 unit building boasts one of the great locations in Vancouver, just west of the corner of Denman and Davie streets, across from a park and English Bay. Why would buyer…
Vancouver city council approves vision for Jericho Lands
The development partnership of three First Nations and a federal Crown corporation is one step closer to transforming 90 acres of West Point Grey into a high-density, car-light community after Vancouver city council unanimously voted in favour of their plan on…
Enough competition to ‘scare the living heck’ out of B.C. real estate agents as numbers surge
The number of licensed real estate agents in B.C. has increased by almost 35 per cent from 20,825 to 29,416 over the past decade, according to data from the BC Financial Services Authority (BCFSA). "If BCFSA gave honest information right now about how many Rea…
Vancouver's 'most-artful hotel' to be redeveloped into massive rental and accommodation complex
One of Vancouver's artsiest and most sustainable hotels is slated to be demolished and will be replaced with a new mixed hotel and apartment tower Bosa Properties and Henriquez Partners Architects are partnering with Listel Hospitality Group to redevelop the b…
B.C. office tenants hope ‘hotelification’ brings back workers
"It's about injecting finishes and design details that really speak to people and entice them to come in. With hotels you feel like it's a home away from home, so you're trying to create that feeling in the workplace," said Lee, who also acts as design princip…
Massive Jericho project inches ahead as polls show vastly different views
A proposal to build a dense neighbourhood on Vancouver's west side faces opposition from residents of the surrounding area, but new polling suggests residents citywide take a more favourable view. Next week marks the latest step in the years-long planning proc…
Jericho plan fails to serve Vancouver’s housing needs
The 90-acre Jericho site is the largest housing development in Vancouver's history. This is an opportunity to create a liveable showcase in city-making for future generations. As an urban planner and developer, I am in favour of urban density on the Jericho La…
Massive residential tower near Vancouver’s downtown goes into receivership
A high-profile high-rise project planned for the West End of Vancouver will not be getting off the ground anytime soon, as the developers behind the project have been placed under receivership, according to filings in the Supreme Court of British Columbia. Pla…
Soaring costs mean extra $105M needed for these two Burnaby rental developments
Skyrocketing construction costs mean two below-market rental developments in Burnaby have come in double their expected budget. The projects developed by Metro Vancouver Housing Corp., the regional government's housing authority, have come in a combined $105.5…
The project is backed by the families that own the Vancouver Canucks and Dallas Stars
The two companies behind a delayed ski and snowboard resort near Squamish owe $99.5 million to five creditors. That is according to a Dec. 14 list published by Ernst & Young, the court-appointed receiver for Garibaldi at Squamish Inc. (GAS Inc.) and Garibaldi …
Home affordability under pressure as home prices hold onto gains
Metro Vancouver housing prices largely held onto gains made in 2023, despite a slight decline in the latter half of the year. The prospect of a stable interest rate environment as the year began fuelled an 8 per cent rise in the Real Estate Board of Greater Va…
COV - City of Vancouver Multiplexes Update
https://youtu.be/qmjVhtvwQXE?si=KPtsYcMOTkQeFZG- - Great Video - call it "Multiplexes" ins and outs of COV Multi Plexes and if it makes sense to build" https://www.shapeyourcity.ca/multiplexes https://vancouver.ca/people-programs/housing-options-in-lower-densi…
Multiplex Home Development Project
At Home Wealth Construction, we specialize in guiding clients through multiplex home development in Vancouver, whether you're a homeowner ready to transform your property into a multiplex or an investor/developer seeking profitable opportunities. We simplify t…
Sutton Group: New owner McCredie
Vancouver-based McCredie Investments has completed the purchase of Sutton Group Realty Services Ltd. with plans to aggressively grow the brand throughout the country. Sutton Group is a Canadian-founded brokerage operating 200 offices nationwide with a team of …
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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