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  1. 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-unit Dunsmuir Hotel be declared dangerous and taken to the ground.

     

    Chief building official Saul Schwebs told council that the heritage building at 500 Dunsmuir St. had been empty since 2013 and no maintenance work has been done since then.

     
    Source: The Vancouver Sun
    18-12-2024

  2. Deputy Prime Minister making it easier for homeowners to build secondary suites

    Yesterday I announced the government will table the Fall Economic Statement on Monday, December 16th in the House of Commons. Our government is focused on building four million new homes, making life more affordable and growing the economy, and creating more good-paying jobs.

    We’re doing this in a fiscally responsible way. Canada’s net debt to GDP and debt to GDP ratios are the lowest in the G7.

    In next week’s Fall Economic Statement you will see that the government is maintaining its fiscal anchor, specifically reducing the federal debt as a share of the economy over the medium term. I expect the debt to GDP ratio we projected in the spring budget for the fiscal year 2023-24 will be met.
    Source: other
    10-12-2024

  3. Financial markets and forecasters are betting on another jumbo interest rate cut

    Financial markets and forecasters are betting on another jumbo interest rate cut from the Bank of Canada on Wednesday, which would bring its key rate down to 3.25 per cent.

    Statistics Canada's latest jobs report tilted expectations in favour of a half-percentage point cut.

    The Friday report revealed the unemployment rate jumped to 6.8 per cent in November — up from 6.5 per cent a month earlier — as more people looked for work.

    November marked Canada's highest jobless rate since January 2017, outside of the COVID-19 pandemic.
    By Nojoud Al Mallees
    09-12-2024

  4. 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 cent from last year and 5.4 per cent above the 10-year seasonal average.

    The total number of listings stood at 13,245, a 21.2 per cent increase compared with last year.
    Source: Western Investor
    03-12-2024

  5. 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 Centre Station.

    According to the developer, this would be Port Coquitlam’s first-ever “transit-oriented, high-rise development.” The property is on the geographic fringes of Port Coquitlam but is immediately adjacent to the core of Coquitlam’s designated city centre area — within the realm of influence of the adjacent municipality’s emerging downtown and next to their future high-density redevelopments.

    By Kenneth Chan
    02-12-2024

  6. Six towers at PoCo Place mall at Lougheed Highway and Westwood Street

    A well-known builder in Coquitlam’s Westwood Plateau and Burke Mountain neighbourhoods plans to construct six towers at a key intersection in Port Coquitlam.

    Today, Dec. 2, Wesbild announced it had applied to rezone PoCo Place — the strip mall at Lougheed Highway and Westwood Street — for a master-planned community with nearly 2,000 homes as well as retail space.

    Lilian Arishenkoff, the company’s senior vice president, told theTri-City Newsthat Wesbild purchased the property earlier this year and has started consultations with PoCo staff, current business tenants and surrounding homeowners about the bid.

    By Janis Gleugh
    02-12-2024

  7. Sixteen projects throughout B.C. have been allocated funding to provide housing for Indigenous peoples

    he funding ($26.8 million) is part of a national initiative in which $278 million is being distributed to 75 projects across Canada to build more than 3,800 units. An additional $3.7 million of funding remains to be allocated.

    The funding was provided to Indigenous Services Canada through the 2022 federal budget, and is being distributed by National Indigenous Collaborative Housing Inc. (NICHI) applying a "for Indigenous, by Indigenous" approach, according to a Nov. 28 press release.

    NICHI is an Indigenous-led national housing organization whose goal is ensuring that all Indigenous peoples across Canada have access to supports and services that provide safe, affordable, secure and dignified housing.
    By Jami Makan
    02-12-2024

  8. Rental construction is having a “renaissance” in Canada, and we’re seeing that realized in starts

    The Canadian real estate market may be a far cry from what it once was (and where stakeholders need it to be), but there are glimmers of positivity to speak of. In a report from last Wednesday discussing the factors putting downward pressure on rents, RBC Economist Rachel Battaglia wrote that rental construction is having a “renaissance” that’s resulting in an uptrend in supply.

    “[…] rental completions have ramped up significantly in recent quarters as construction projects that started some time ago reach the finish line,” Battaglia said. “The number of purpose-built units started nearly quadrupled in the past decade, accelerating significantly since 2018 after the introduction of various government incentives.”

    By Zakiya Kassam
    02-12-2024

  9. The housing priorities grant program will help expedite the construction of 220 affordable rental homes

    A total of $10 million will be set aside with the target of expediting the construction of 220 affordable rental homes. The staff report proposed a launch date for Jan. 27, after they've reached out to the development community. 

    The housing grant program will have two main funding streams – one for non-profit organizations and another for for-profit organizations. 

    “I think these steps are in the right direction,” said Coun. Bill McNulty during the council meeting.

    The first main funding stream for non-profits or cooperatives is also separated into two smaller streams.

    By Adam Campbell
    29-11-2024

  10. Gateway North building with a grocery store being built next to the UBC bus exchange

    UBC plans to build a new six-storey mixed-use building immediately adjacent to the southeast corner of the UBC bus exchange, right next to the covered bus stop shelter for the busy 99 B-Line bus route.

    Tentatively named “Gateway North,” this building will primarily house laboratory research, with levels three to six entirely dedicated to this academic use.
    By Kenneth Chan
    29-11-2024

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