Thursday, 30 November 2017

Massive Northeast False Creek area plan to transform waterfront

The City of Vancouver held an open house for the Northeast False Creek area plan today, showing off building models and future road networks to replace the viaducts.

The area covered by the plan is massive, and runs along the waterfront from Smithe Street inland to Gore Avenue. It’s also adjacent to the new St. Paul’s hospital proposed for the False Creek Flats, east of Station Street, and will include a new arterial route to take pressure off Prior Street.

The land is the last, large piece of undeveloped waterfront property in downtown Vancouver, and is owned by several property developers, as well as the City of Vancouver, who owns the parcels of land east of Quebec Street where the viaducts currently are.


Redevelopment of Metrotown Sears site includes 65-storey tower

The rezoning of the Sears site at Metrotown in Burnaby is moving ahead at the same time the retailer liquidates its department stores across the country and prepares to shut down.

Concord Pacific has owned the Metrotown Sears site for several years, and is preparing to begin phase one of the redevelopment, which will see three new residential towers built on the Sears parking lot at the corner of Kingsway and Nelson.

Metro Vancouver rental vacancy rate remains under 1%: CMHC

Despite record construction across Metro Vancouver over the past year, the area’s apartment rental vacancy rate remains below 1%, according to a Canada Mortgage and Housing Corporation report released November 28.


Thursday, 9 November 2017

Vancouver warns owners of empty homes to fill out new declaration forms, or face stiff fines

Vancouver's empty home tax will be charged on any homes left empty or occupied for less than six months per year

VANCOUVER — Vancouver, fighting a rental shortage in Canada’s most expensive property market, warned owners of empty homes on Tuesday that they faced stiff fines if they failed to fill out empty-home tax declaration forms that they had been sent in the mail.
Home owners who do not to submit the declaration by Feb. 2, 2018 will be automatically charged the 1 per cent tax on the assessed value of their home. Owners who make false claims will also face a steep fee of $10,000 per day, the city said.

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Starting rents may exceed $3,000 for a three-bed at proposed East Vancouver development

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