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The federal investigation into CREA’s commission rule & Cooperation Policy
No surprise to most of us, the Competition Bureau (CB) is investigating the Canadian Real Estate Association (CREA)’s MLS commission policy requiring a commission be paid to buyers’ agents, and the Cooperation Policy requiring all listings to be on the MLS within three days.
I expected both, and I’ll be surprised if the Cooperation Policy comes out unscathed as I find it unethical no matter how many times I re-evaluate it, but I take real issue with the investigation into the mandatory buyers’ agent commission policy.
11-10-2024 -
A proposed 21-storey rental housing tower at 1150 Barclay Street, Vancouver
Due to poor market conditions, another condominium tower project in downtown Vancouver has pivoted into secured purpose-built rental housing, with significantly added density and height.
Local developer PC Urban has submitted a new rezoning application to redevelop 1150 Barclay Street.
This is a mid-block site located near the southeast corner of the intersection of Bute and Barclay streets, currently occupied by a 1948-built, three-storey building with 19 cooperative apartment homes.
Over six years ago, PC Urban previously contemplated redeveloping the site into a 114-ft-tall tower with 11 storeys containing 23 strata luxury ownership condominium homes, with a total building floor area of 38,000 sq ft.
The newly revised 2024 concept has nearly doubled the new building’s height to 215 ft with 21 storeys, and it is now a 100% secured purpose-built rental housing project.
10-10-2024 -
Commercial transactions in the Lower Mainland spiked ahead of the June 25 deadline
There were 553 commercial real estate sales in the Lower Mainland in Q2 2024, a 66.6 per cent increase from the 332 sales in Q2 2023, according to data from Commercial Edge, a commercial real estate system operated by Greater Vancouver Realtors (GVR).
The total dollar value of commercial real estate sales in the Lower Mainland was $3.459 billion in Q2 2024, a 71.5 per cent increase from $2.017 billion in Q2 2023.
04-10-2024 -
Strand Development has new ambitious plans to redevelop a trapezoid-shaped lot near the Southeast False Creek area
Previously, the local developer had proposed redevelopment concepts with employment-only uses for the site at 302-360 West 2nd Avenue, which is situated at the southwest corner of the unique intersection of West 2nd Avenue, West 3rd Avenue, and Alberta Street.
This includes an original 2019 proposal for a new four-storey building with 56,000 sq ft of creative industrial and office space uses.
Then in 2022, they returned to the City with a revised proposal to build a new seven-storey building with about 38,000 sq ft of creative manufacturing space within the first two levels and 75,000 sq ft of office space within the upper five levels. This previous building concept was subsequently marketed as “Three Sixty”.
04-10-2024 -
The project is set for 3200 E Broadway, 3270 E Broadway, and 2625 Rupert Street
On Wednesday, the City of Vancouver revealed the two concept options that are being explored for the large-scale redevelopment next to Rupert Station, ahead of a formal rezoning application submission by the developers.
The project is being led by the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), səlilwətaɬ (Tsleil‑Waututh) nations through their joint development firm, MST Development Corporation, in partnership with Aquilini Development, which is owned and operated by the Aquilini family that also owns the Vancouver Canucks.
The site of the project is the former BC Liquor Distribution Branch adjacent to the Millennium Line SkyTrain's Rupert Station, on the southwest corner of Rupert Street and East Broadway. It consists of 3200 E Broadway (legally known as 3150 E Broadway), 3270 E Broadway, and 2625 Rupert Street, which BC Assessment values at $132,538,000, $5,873,900, and $30,513,000, respectively, for a total valuation of $168,924,900.
26-09-2024