Chinese investors turn attention to Vancouver's commercial real estate
Asian buyers have for some time been putting pressure on Vancouver’s stock of detached homes. Now China’s development industry is showing interest in the region’s commercial properties.
It is part of a cross-Canada trend, says Colliers International in a report issued earlier this month: “Canadian property owners have traditionally been the incumbent buyers of real estate assets, but a growing mix of international property investors, specifically Chinese developers, are seeking to park their capital in stable markets like Canada.”
Premier Clark pledges $7.2 million for Okanagan recreational trail
KELOWNA - The Okanagan’s trail network will expand with a new recreational corridor between Kelowna and Coldstream, after the Government of B.C. pledged $7.2 million toward the acquisition of a discontinued CN rail line, Premier Christy Clark announced today.
“There are few places in the world that have more to offer outdoor enthusiasts than the Okanagan,” said Premier Clark. “By putting an unused rail line to better use, connecting communities as a cycling and walking trail, there will be even more reasons to get outside.”
BC's forestry industry vital, neglected economic force
VANCOUVER — B.C.’s forestry sector may not be as sexy as a potential liquefied natural gas industry in the north or all the high-tech companies that have been moving to Vancouver, but it is time the provincial government started showing it some renewed love.
A report by the Business Council of B.C. touts the sector as highly productive and a great job generator — “one of the province’s dominant economic engines”.
Global supply glut threatens British Columbia's LNG projects
Most liquefied natural gas export projects are at risk of being cancelled in North America as a result of a looming global glut of LNG, putting a damper on British Columbia’s energy dreams.
Moody’s Investors Service Inc. issued a stark outlook for the fledgling North American LNG industry, arguing it doesn’t make economic sense to invest billions of dollars on each venture especially as Asian buyers slow down their LNG orders for new LNG supplies.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 10, 2015) - Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 18,195 units in March compared to 17,462 units in February, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.
"Single-detached home construction continued to increase in step with the trend established last spring," said Robyn Adamache, Principal, Market Analysis. "Multi-family housing starts also moved higher in March, following a brief dip in apartment and town home starts the previous month."
A landlord's take on BC's rental crunch: Portable housing allowances could solve rental crunch
In B.C. — and Metro Vancouver in particular — the issue of rental housing supply and affordability is well documented, the bottom line being that principles of supply and demand dictate that rental housing stock needs to be substantially increased in order to boost affordability.
Burnaby councillor 'over the moon' with proposed rental high rise
It isn’t just local residents who are worried about the city’s low rental housing stock – Coun. Colleen Jordan spoke about the issue at the March 30 council meeting. A recent proposal for a standalone rental building in Metrotown was the first she remembered seeing since she became a councillor in 2002, she said.
Squeezed, and loving it: 5 kids, 2 adults in 1,000 square foot condo
Adrian Crook has discovered life is better once you abandon the accepted wisdom that you need a house and backyard to raise happy kids.
A divorced dad, Mr. Crook lives in a 1,023-sq.-ft. high-rise rental condo with his five children and partner Sarah Zaharia. He has three boys and two girls, ages 8, 7, 6, 5 and 3 – or, as some people call them, “the countdown.”
British Columbia Premier: You can grow the economy and protect the environment
"In 2008, we put a price on carbon through a revenue-neutral carbon tax.
Since then, our energy-related greenhouse gas emissions have dropped by more than 5 percent and emissions are down across the board, all while our economy has continued to grow. And we still maintain some of the lowest personal and corporate income taxes across Canada.
British Columbia, already facing the possibility of losing BG Group Plc’s natural gas export project on the West Coast, could also see Royal Dutch Shell Plc.’s own LNG proposal slip away, as analysts examine the fallout from the two companies’ $70 billion merger.
VANCOUVER — A wave of new office towers set to open in coming months in downtown Vancouver has local real estate experts and landlords wondering whether or not the local market can grow into the space or attract enough new business to prevent the city’s office vacancy rate from skyrocketing.
By this time next year, the dust will have settled on what has been one of Vancouver’s most frenzied episodes of downtown office construction, with more than 2.2 million square feet of new office space coming online across several building projects. Local experts are predicting a vacancy rate of roughly 10 to 12 per cent by the end of this year. The average vacancy rate over the last 10 years in Vancouver’s core has been about 4.6 per cent.
Cambie corridor plan calls for higher-density housing
About one-quarter of the single-family homes in Vancouver’s Cambie corridor could eventually make way for higher-density “ground-oriented and family-friendly” housing, according to proposals contained in a report from city planning director Brian Jackson.
The report — which details the scope of work for Phase 3 of the Cambie corridor planning program — said 74 per cent of single-family zoned parcels in the area would be left unchanged as the city promotes more townhouse and row house development.