Last quarter there were a number of Real Estate articles in the Vancouver Sun, the North Shore News and The Globe and Mail – addressing growth and development in our neck of the woods. A quote… “Nestled between the mountains and the sea, the North Shore’s desirability is fuelling development, according to Geller” – ‘A lot of people who might never have considered living on the North Shore in the past, I think that they’re now viewing it quite differently and much more positively ‘ (Michael Geller, the developer behind the recently unveiled coach houses and duplexes at Hollyburn Mews on Esquimalt Avenue in West Vancouver . He is also the force behind the highly successful Univercity at Burnaby’s SFU).
A further comment comes from Mark Stephenson, vice-president at Informa Canada – “Whether they’re developing it now or in two years or five years or seven years, they see the North Shore as a very good opportunity for growth and the demand’s there,” Stephenson says, discussing developers like Onni and GWL.
For Stephenson, the approval of Onni’s Safeway site proposal and the District of North Vancouver’s decision to OK three highrises at the Seylynn development display a demand for new housing.
“These big players, these big developers . . . they’ve been in this game a long time and they’re very, very good at what they do, so they can read the market, they can read the trends, and they know an opportunity when they see one,” Stephenson says.
This is an excellent article addressing both sides of the challenges and recapping the three North Shore municipalities’ approach to future development (the Supply side in response to the future Demand). Remember folks that we elect the councils that make these decisions. My read is that those elected are carrying out this mandate in a realistic and intelligent way.
‘SnapStats’ (what price ranges are selling and which are not) is being very well received. I’m now forwarding the past 12 month trend for not only N and W/Van but ALL available metro neighbourhoods, as many w requested. If any locations are not of interest, please ignore those areas.
So, visit my website to see and “hear” the new developments. I continue my commitment to keep you… www.OnTopOfTheMarket.ca – the “go to” site for N/S R/Estate analysis and jump-off point for FULL market information.