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Kenneth Chan
Jun 25, 2018 5:14 pm

After three weeks of construction, a new dedicated southbound bike lane on the Cambie Street Bridge is about to see its first riders.

 

According to the municipal government, the new $600,000 bike lane – intended to be a “pilot project” – will open later this week ahead of the busy Canada Day weekend. At the moment, crews are in the process of finalizing new signage on the bridge.

 

The new bike lane spans the entire width of the bridge deck’s westernmost traffic lane, reducing the southbound direction capacity for vehicles from three lanes to two lanes.

 

Temporary concrete barriers, similar to the previous concrete barriers on the Burrard Street Bridge, have been placed to create a barrier between the cars and the cyclists.

 

Cyclists can access the bridge’s southbound bike lane from the intersection of Nelson Street and Beatty Street as a continuation of the Nelson Street bike lane.

 

Towards the southern end of the bridge, instead of concrete barriers, white plastic bollards have been installed in the approach area where the bike lane narrows into the single-lane off-ramp onto West 2nd Avenue.

 

New bike lanes have also been painted on the southern end of the bridge on West 2nd Avenue, with the intersection repainted and a new bike lane painted on the wide sidewalk west of the bridge – passing directly in front of the entrance into Olympic Village Station and continuing westward to Ash Street on the City-owned parking lot.

 

The City previously stated there could be further upgrades to the cycling connections at where the bridge ramps meet West 2nd Avenue, based on monitoring travel behaviour before and after construction.

 

The municipal government claims the new bike lane is needed as the existing pedestrian-cyclist shared path on the east side of the bridge is seeing rising conflicts from greater use, which necessitates the separation of the pedestrian and cycling uses.

 

During the warm, sunny month of July, according to the City, cyclist volumes on the bridge have been recorded at an average of 1,900 per weekday in July 2010, 2,700 per weekday in July 2014, and 3,200 per weekday in July 2017. Increases in cyclist ridership are correlated with the completion of the new protected bike lanes on the north end of the bridge in downtown on Smithe, Nelson, and Beatty streets.

 

Burrard Street Bridge also saw a vehicle lane reduction from six lanes to four lanes over the past decade to accommodate new protected bike lanes and wider pedestrian sidewalks. There are also long-term plans to turn two lanes of the eight-lane Granville Street Bridge into cycling and pedestrian paths.

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Tanya Commisso Western Investor

MAY 17, 2018 12:11 PM

 

The one-storey Wendy’s restaurant building at the high-exposure, transit-oriented corner of Cambie Street and West Broadway has been listed for sale, with potential for an major mixed-use development. 
 
The site is located at 480 West 8th Avenue – just across the street from a future transit hub that will include an underground Broadway Extension stop on the Millennium Line, in addition to the existing Broadway–City Hall station entrance to the Canada Line. 
 
The restaurant site is one of few parcels in close proximity to the new transit hub that is not already under proposal for redevelopment. Vancouver City Hall at 453 West 12th Avenue is expected to expand its campus in the space between the current City Hall and the existing SkyTrain station, while several mixed-use developments have been planned for lots along the Cambie Street and West Broadway intersection. 
 
The 22,237-square-foot lot is located in a prime location for an “iconic” development, according to commercial brokerage CBRE, which has listed and is marketing the site. 
 
The parcel’s current zoning allows for office, retail and residential use, but potential rezoning under the yet-to-be-unveiled Broadway Corridor Plan could allow for higher density development. 
 
According to BC Assessment, the property has a value of $39.53 million. CBRE anticipates significant interest from national and international buyers. 
 
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From Business in Vancouver

By Peter Mitham | May 16, 2018


Vancouver’s recent approval of the third phase of the Cambie corridor redevelopment plan sets the stage for the biggest transformation of the area. While boosters tip it as the largest neighbourhood redevelopment since the West End in the 1950s, it makes more sense to frame it as giving Vancouver – long dominated by the metropolitan core – its own municipal town centre.

 

While detached homes surrounding Oakridge have long lent a suburban charm to the area, what’s about to roll out is more along the lines of the Metrotown, Brentwood or Lougheed town centres (with gentler density, the city’s chief planner, Gil Kelley, has promised).

 

It’s been a long time in the making. Work on a statement regarding the future of the 28-acre Oakridge mall site began in 2004. When presented to Vancouver council on March 15, 2007, it outlined plans to boost retail space at the mall by 50%, to 950,000 square feet, and more than double office space to 326,000 square feet. Residential space would total 1.2 million square feet.

 

Then the Canada rapid transit line opened and a plan was put forward for a wholesale makeover of the mall within the context of the city’s Cambie corridor plan.

 

City plans for the Cambie corridor call for 32,000 homes, of which 6,500 units will be secured rental and non-market housing, as well as jobs space for 9,200 people. This is where redevelopment of the Oakridge mall site stands alongside its counterparts in Burnaby, because it will represent a sizable portion of the jobs space – up to 3,000, by current estimates, spread over 1.8 million square feet of office and retail space. Approximately 2.8 million square feet of residential space in 2,914 units is also planned, including 580 units of secured market and non-market rental housing.

 

Undertaken by QuadReal Property Group in partnership with Westbank Corp., the Oakridge makeover will be joined by 2,100 units of housing at Langara Gardens, a 20.5-acre site Concert Properties Ltd. plans to remake with Peterson Investment Group Inc. Concert expects 1,000 of Langara Gardens’ units will be rental.

 

Redevelopment plans for a third major site, the Oakridge transit centre acquired in 2016 by a joint venture of Intergulf Development Group of Vancouver and China’s Modern Green Development Corp., have yet to be announced.

 

 

 
 


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Business Vancouver

By Frank O'Brien | May 2, 2018, 


More than 1,700 owners of detached housing lots in Vancouver’s Cambie Corridor could have their property rezoned for multi-family housing under the city’s Phase 3 Cambie Corridor approved by council this week.

 

For some owners, it could mean a windfall price in Vancouver’s slowing detached market, where west sales are down 34% from a year ago.

 

Land assembly agents say there has been a lot of interest from local house owners and developers in the potential for higher-density zoning.

 

“There is a lot of traction,” said Jerry Lee, a land assembly and acquisition analyst with London Pacific, a real estate company experienced in land assemblies. Lee expects the action to heat up now that the Phase 3 plan has been approved.

 

The overall Cambie Corridor planning area covers West 16Avenue to the Fraser River between Oak and Ontario streets. It’s about 1,000 hectares, more than twice the size of Stanley Park.

 

Phases 1 and 2, adopted in 2011, focused on Cambie Street and major connecting arterials, such as West 41 Avenue. Much of the subsequent strata development is widely considered unaffordable for average Vancouverites. New strata units in the Cambie Corridor are selling for north of $1,300 per square foot, according to December survey by Urban Analytics.

 

Phase 3 addresses land use policy for areas off of the arterials, as well as the new municipal town centre around Oakridge mall. There are also nine unique sites within phase three – larger sites such as the King Edward mall at Oak Street and King Edward.

 

Existing single-detached housing in the area will be opened up for mid- and high-rise condominiums, townhouses and below-market rental apartments, according to a city release.

 

House owners in the Phase 3 Cambie corridor area could expect a “substantial lift” in land value should their property be part of an assembly for higher-density development, Lee said.

 

The current benchmark price for a single-detached house in the Cambie area is approximately $3.5 million, according to the Real Estate Board of Greater Vancouver. In December 2017, however, a condo developer paid $8.5 million for a “teardown” 66-year-old three-bedroom house on an 8,760-square-foot lot at West 35Avenue at Cambie Street as part of a land assembly.

 

This suggests that a substantial incentive would be required to convince developers to provide rental apartments at below market rents.

 

"The [Phase 3] plan allows for additional height and density for projects providing new below-market rental units in strategic areas of the plan, such as high density areas in the Oakridge Municipal Town Centre, unique sites, Oakridge apartment area and local shopping areas," according to City of Vancouver spokeswoman Nancy Eng.

 

nder the City’s Rental 100 program that provides incentives to rental developers, affordable rent is defined as $1,760 for a one-bedroom apartment and $2,505 for a two-bedroom unit.


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Mind-boggling maps show where you can (and can't) afford real estate in Metro Vancouver

By Jill Slattery

10:13 AM PST, Wed December 23, 2015

Vancity Buzz

 

 

There is no denying that 2015 was a banner year for real estate prices. The cost of a home in Metro Vancouver rose on average 17.8% between November 2014 and 2015, but certain neighbourhoods took the cake for the biggest climb in prices. EstateBlock.com, a property search engine, has mapped out which specific areas in Vancouver were the most (and least) expensive this year.

 

The researchers created nine heat maps for each type of residential property; single family homes, condos, and townhomes, and listed their benchmark price for November 2015 along with their price change over one month and one year. The data isn’t just great for homeowners hoping to cash in on the appreciation of their property – the maps also list the least expensive neighbourhoods where first-time buyers could sink their teeth into.

 

The most expensive places to live are no surprise – West Vancouver and Vancouver’s West Side are at the top of the list for all three property types. The best deals appear to be Abbotsford, Langley, Mission and North Surrey. If you’re looking to buy a detached home, Lake Errock in Mission gives you the most affordable options with the benchmark price at only $285,200.

 

Top 10 most expensive neighbourhoods in Lower Mainland for single family homes


1. $5,504,100 – Whitby Estates, West Vancouver
2. $5,254,300 – University VW, Vancouver West
3. $4,908,800 – Shaughnessy, Vancouver West
4. $4,382,300 – Canterbury WV, West Vancouver
5. $3,613,300 – Westhill, West Vancouver
6. $3,591,700 – Chartwell, West Vancouver
7. $3,321,800 – South Granville, Vancouver West
8. $3,233,200 – Quilchena, Vancouver West
9. $3,203,900 – Altamont, West Vancouver
10. $3,100,400 – Arbutus, Vancouver West

 

Top 10 least expensive neighbourhoods in Lower Mainland for single family homes


1. $285,200 – Lake Errock, Mission
2. $325,800 – Pender Harbour Egmont, Sunshine Coast
3. $350,100 – Sechelt District, Sunshine Coast
4. $366,000 – Bridgeview, North Surrey
5. $366,800 – Halfmn Bay Secret Cv Redroofs, Sunshine Coast
6. $400,300 – Mission BC, Mission
7. $405,700 – Central Abbotsford, Abbotsford
8. $417,200 – Hatzic, Mission
9. $427,300 – Durieu, Mission
10. $433,200 – Gibsons & Area, Sunshine Coast

 

But which neighbourhoods are the biggest movers and shakers this year? The waterfront English Bluff neighbourhood in Tsawwassen saw the greatest appreciation in price over the last year for single family homes, with an increase of 32.9% in price. The benchmark price there is now $1.3 million.

 

Top 10 neighbourhoods where single family homes prices have risen the most last year

1. 32.9% – English Bluff, Tsawwassen
2. 32.6% – Sullivan Heights, Burnaby North
3. 32.5% – Port Guichon, Ladner
4. 32.4% – Pebble Hill, Tsawwassen
5. 31.9% – Cliff Drive, Tsawwassen
6. 31.5% – Tsawwassen Central, Tsawwassen
7. 31.2% – East Richmond, Richmond
8. 31% – Renfrew VE, Vancouver East
9. 30.8% – Windsor Park NV, North Vancouver
10. 30.4% – Grandview VE, Vancouver East

 

The slowest growth neighbourhoods are mainly on the Sunshine Coast and in the Fraser Valley. Pender Harbour Edgmont grew only 6% to $325,800 and Silver Valley in Maple Ridge grew only 6.7% to $588,000. No neighbourhoods saw a decline in price, except between October and November 2015 where a number of areas declined mariginally in price, including West Bay and Cypress in West Vancouver.

 

Top 10 neighbourhoods where single family homes prices have risen the most last month


1. 10.8% – Serpentine, Cloverdale
2. 6.5% – Braemar, North Vancouver
3. 6.5% – Braemar, North Vancouver
4. 6.2% – Tempe, North Vancouver
5. 6.1% – Grouse Woods, North Vancouver
6. 6% – Princess Park, North Vancouver
7. 5.9% – Mount Pleasant VE, Vancouver East
8. 5.8% – Main, Vancouver East
9. 5.7% – Lynn Valley, North Vancouver
10. 5.6% – Kitsilano, Vancouver West

 

Top 10 neighbourhoods where single family homes prices have risen the least or descended last month


1. -2.6% – Sumas Mountain, Abbotsford
2. -2.3% – Northyards, Squamish
3. -2% – Central Abbotsford, Abbotsford
4. -1.6% – Bowen Island, Bowen Island
5. -1.6% – Bowen Island, Bowen Island
6. -1.5% – Cypress, West Vancouver
7. -1.3% – Gibsons & Area, Sunshine Coast
8. -1.2% – Sumas Prairie, Abbotsford
9. -1.1% – Mission-West, Mission
10. -1% – West Bay, West Vancouver

 

The condo market was hot across the City of Vancouver, but Central Coquitlam made a solid growth of 26.1% in price, likely due to the Evergreen Line under construction from Vancouver to Coquitlam. Condo prices have gone down the most in the Granville and South Arm neighbourhoods of Richmond – sorry, not the Granville in Vancouver.

 

Top 10 neighbourhoods where condo prices have risen the most last year


1. 37.9% – Shaughnessy, Vancouver West
2. 31% – Marpole, Vancouver West
3. 28.9% – S.W. Marine, Vancouver West
4. 28.8% – Oakridge VW, Vancouver West
5. 26.1% – Central Coquitlam, Coquitlam
6. 26.1% – Central Coquitlam, Coquitlam
7. 25.6% – Fairview VW, Vancouver West
8. 25.6% – Fairview VW, Vancouver West
9. 24% – Mount Pleasant VE, Vancouver East
10. 23.8% – Downtown VE, Vancouver East

 

Top 10 neighbourhoods where townhome prices have risen the most last year


1. 24% – Coal Harbour, Vancouver West
2. 23.2% – Victoria VE, Vancouver East
3. 21.3% – Shaughnessy, Vancouver West
4. 20.9% – Walnut Grove, Langley
5. 20.5% – Westwood Plateau, Coquitlam
6. 20.1% – East Central, Maple Ridge
7. 19.9% – Seafair, Richmond
8. 19.8% – Killarney VE, Vancouver East
9. 19.6% – Renfrew VE, Vancouver East
10. 19.3% – Grandview VE, Vancouver East

 

Top 10 neighbourhoods where condo prices have risen the least or descended last year


1. -9.2% – Granville, Richmond
2. -9.1% – South Arm, Richmond
3. -6.5% – Sapperton, New Westminster
4. -2.9% – West Central, Maple Ridge
5. -2.3% – Northwest Maple Ridge, Maple Ridge
6. -1.6% – Mid Meadows, Pitt Meadows
7. -1.3% – Central Meadows, Pitt Meadows
8. -1% – East Central, Maple Ridge
9. -0.7% – Broadmoor, Richmond
10. -0.4% – Maillardville, Coquitlam

 

Top 10 neighbourhoods where townhome prices have risen the least or descended last year


1. -5.9% – Fraserview NW, New Westminster
2. -4.7% – Uptown NW, New Westminster
3. -4.4% – Government Road, Burnaby North
4. -4% – GlenBrooke North, New Westminster
5. -1.5% – The Crest, East Burnaby
6. 0.1% – Queen Mary Park Surrey, Surrey
7. 0.3% – Grandview Surrey, White Rock
8. 0.6% – Highgate, Burnaby South
9. 0.8% – Morgan Creek, White Rock
10. 1% – Langley City, Langley

 

As for where you can drop only a couple hundred thousand dollars on a condo or townhome, the best bets are in Granville and South Arm in Richmond, Aldergrove Langley, Abbotsford, and much of the Fraser Valley. Don’t bother looking in West Vancouver unless you have over $800,000 to spend, and the West Side is even more out of reach at a steady benchmark price of $1-1.5 million for a townhome.

 

Top 10 most expensive neighbourhoods in Lower Mainland for condos


1. $890,400 – Panorama Village, West Vancouver
2. $865,200 – Quilchena, Vancouver West
3. $859,900 – Dundarave, West Vancouver
4. $851,200 – Park Royal, West Vancouver
5. $824,800 – Oakridge VW, Vancouver West
6. $809,000 – Coal Harbour, Vancouver West
7. $679,200 – Yaletown, Vancouver West
8. $671,900 – Kerrisdale, Vancouver West
9. $669,000 – False Creek, Vancouver West
10. $661,000 – University VW, Vancouver West

 

Top 10 most expensive neighbourhoods in Lower Mainland for townhomes


1. $1,597,400 – Shaughnessy, Vancouver West
2. $1,318,300 – South Cambie, Vancouver West
3. $1,293,500 – Coal Harbour, Vancouver West
4. $1,286,700 – Quilchena, Vancouver West
5. $1,202,800 – Oakridge VW, Vancouver West
6. $1,119,000 – University VW, Vancouver West
7. $1,117,900 – Yaletown, Vancouver West
8. $1,055,700 – Kerrisdale, Vancouver West
9. $957,000 – Cambie, Vancouver West
10. $851,600 – Mount Pleasant VW, Vancouver West

 

Top 10 least expensive neighbourhoods in Lower Mainland for condos


1. $107,600 – Granville, Richmond
2. $117,800 – South Arm, Richmond
3. $126,300 – Otter District, Langley
4. $132,600 – Cedar Hills, North Surrey
5. $133,400 – Annieville, N. Delta
6. $146,800 – Central Abbotsford, Abbotsford
7. $151,700 – West Central, Maple Ridge
8. $154,100 – Abbotsford West, Abbotsford
9. $170,700 – East Central, Maple Ridge
10. $170,700 – East Central, Maple Ridge

 

Top 10 least expensive neighbourhoods in Lower Mainland for townhomes


1. $207,800 – Aldergrove Langley, Langley
2. $215,800 – Abbotsford West, Abbotsford
3. $221,500 – Central Abbotsford, Abbotsford
4. $225,000 – Abbotsford East, Abbotsford
5. $230,900 – Mission BC, Mission
6. $249,600 – Guildford, North Surrey
7. $258,800 – Langley City, Langley
8. $271,600 – East Newton, Surrey
9. $282,600 – Queen Mary Park Surrey, Surrey
10. $283,400 – Annieville, N. Delta

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