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  1. City staff recommend that a council decision to approve adding the slot machines should be contingent on requiring actions to mitigate harms caused by problem gambling

    Parq Holdings, which operates a Vancouver casino in a hotel and conference centre next to B.C. Place Stadium, is seeking to increase the number of its slot machines by 50 per cent, from 600 to 900.

    In early February, city council referred Parq’s request to a public hearing for this Tuesday.

    The ask from Parq comes after council decided in May 2024 to amend the city’s moratorium in 2011 on gambling expansion as requested by the B.C. Lottery Corporation.

    By Joanne Lee-Young
    16-02-2026

  2. The Butterfly Tower in downtown Vancouver sticks out above the city, but there’s another sore spot emerging for some who invested in homes at the Nelson Street building, according to a local realtor.

    The Butterfly Tower in downtown Vancouver sticks out above the city, but there’s another sore spot emerging for some who invested in homes at the Nelson Street building, according to a local realtor.

    Daily Hive Urbanized received word from a Vancouver realtor who had some info relating to major losses some buyers have experienced at The Butterfly, which became Vancouver’s third-tallest building in 2023.

    Realtor John Pinton shared a blog post he published about the tower and some additional information about how much money buyers who invested early are losing.

    By Amir Ali
    14-02-2026

  3. Vancouver City Council unanimously approved a major rezoning application for Langara Gardens

    During a public hearing on Thursday evening, Vancouver City Council unanimously approved a major rezoning application for Langara Gardens, clearing the path for a multi-phase, mixed-use redevelopment that will add roughly 2,600 new homes and new and improved public parks over the next 15 to 20 years.

     

    Langara Gardens at 7051 Ash Crescent is one of five neighbourhood-sized redevelopment projects along the Cambie Corridor, spanning a 21-acre footprint immediately west of Langara Golf Course and east of Sir Winston Churchill Secondary School. It is framed by Cambie Street to the east, West 54th Avenue to the north, Neal Street to the west, and West 57th Avenue to the south.

    This project by Concert Properties and Peterson Group replaces aging townhouse blocks while retaining the four 1970s-built existing rental housing towers with 335 units, which will receive seismic and life-safety upgrades.

    Some speakers at the public hearing, including tenants of the existing buildings, lamented the aging condition of the structures and the lack of air conditioning, freezers, and in-suite laundry, citing insufficient electrical capacity and plumbing.

    The approved rezoning application — designed by James Cheng Architects — allows buildings ranging from three to 45 storeys. Overall, there will be 1,487 strata market ownership condominium homes and 715 secured purpose-built rental homes — 592 market rental units and 123 below-market rental units — as well as 180 social housing units.

    As well, two future development parcels will be left vacant, set aside for the municipal government to build an additional 258 social housing units.

    The redevelopment is designed as a “complete community” close to rapid transit, with the northeast corner of the property about a 10-minute walk north to SkyTrain’s Langara-49th Avenue Station, while Marine Drive Station is about a 20-minute walk to the south.

    By Kenneth Chan
    13-02-2026

  4. City uses design catalogue from CMHC for the first time on a project at 3122 Southeast Marine Dr.

    The City of Vancouver has plans to build 24 bedrooms of social housing on a small, sloped lot on Southeast Marine Drive for $8.5 million and use a design for the first time from a catalogue created by Canada Mortgage and Housing Corporation (CMHC).

    The unique proposal, which city council approved Tuesday, Feb. 3, is considered a pilot project and will use a design referred to in the catalogue as “fourplex 01 BC.” Council chose the design because it meets the city’s challenge of building on a sloped site.

    “The project will also deliver the housing in a considerably shorter timeline than a fully custom-designed building for this location,” the city said in an email to BIV. “The project is estimated to be completed by late 2027.”

    The site is located at 3122 Southeast Marine Dr., is 1,220 square metres, or 13,123 square feet in size and has an assessed value of $1.3 million.

    A study conducted by the city and CMHC recommended three separate and mirrored four-plexes that will include six one-bedrooms and six three-bedroom units built on the north portion of the site, with surface parking on the south side.

    By Mike Howell
    09-02-2026

  5. Defaults in B.C. are rising but still historically low since the COVID-19 pandemic

    Many British Columbians obtained five-year mortgages in 2021 to take advantage of historically low rates during the COVID-19 pandemic, and they are now facing higher monthly payments upon renewal.

    The current five-year fixed rate is 3.84 per cent compared to 1.39 per cent in January 2021, while the current five-year variable rate is 3.35 per cent compared to 0.99 per cent in January 2021, according to Jan. 27, 2026 data from Ratehub.ca for insured mortgages.

    Another group took out shorter three-year mortgages in 2023, when interest rates were higher than today. These people could now see a decrease in their interest rate and monthly payment, said Rebecca Casey, president of the Canadian Mortgage Brokers Association - British Columbia.

    The 2021 cohort bought before the peak of the market in terms of values, she said. They may have seen their property value rise to a degree, giving them more tools to alleviate the jump in payment.

    The 2023 folks did not experience that same level of price appreciation, she said. While they may be able to snag a lower rate, they may not have the same options for debt consolidation or overall change in their cash flow.

    Default rates, historically very low in Canada, are creeping up.

    B.C.’s mortgage delinquency rate was 0.19 per cent in the third quarter of 2025, according to the Canada Mortgage and Housing Corp. (CMHC). This measures the share of loans that are 90 or more days past due, and has been trending up since the low of 0.10 seen in the second half of 2022.

    In the Vancouver region specifically, the delinquency rate was similar at 0.18 in the third quarter of 2025, up from a low of 0.8 per cent seen in the second half of 2022 and early 2023.

    “We are seeing higher levels of it than we have historically, but it’s still important to note that it’s still low,” Casey said.

    “It’s not doom and gloom. … There are options and it doesn’t have to be a terrifying experience.”

    Clay Jarvis, mortgage expert with NerdWallet Inc., said people who took out mortgages in 2021 have likely paid off $100,000 or more since then, making the math more favourable. They may also be earning higher wages than they did five years ago.

    If a person’s interest rate doubles from two to four per cent, this doesn’t mean that their monthly payment will double, he noted.

    “It’s going to increase, but you are renewing a smaller loan, so you don’t necessarily have to freak out quite as much,” he said.

    Penelope Graham, mortgage expert with Ratehub Inc., said borrowers are protected by stress tests, meaning they should theoretically be able to carry their mortgage at a rate two-per-cent higher than what they actually get from their bank, providing a bit of a buffer.

    The 2024 federal budget enhanced the Canadian Mortgage Charter, which contains guidance for banks dealing with vulnerable borrowers. Standards include temporarily extending the amortization period and waiving interest on interest, according to an April 2024 summary by Gowling WLG.

    The charter, which can form the basis for consumer complaints to the Financial Consumer Agency of Canada, exempts insured mortgage holders from requalifying under the stress test when switching lenders at renewal, the law firm said.

    Steve Ng, mobile mortgage specialist district manager with Toronto-Dominion Bank (TSX:TD), said some borrowers can consolidate credit cards, auto loans and lines of credit into their mortgage when it comes due. They can also use a home equity line of credit that is secured by the home to reduce overall interest costs.

    The Bank of Canada’s policy rate determines variable rates, while bond yields determine fixed mortgage rates, he said.

    Canada-U.S.-Mexico (CUSMA) trade negotiations could potentially affect variable rates, but TD is currently not anticipating any drastic moves by the Bank of Canada, Ng said.

    For fixed rates, bond yields suggest economic growth could improve toward the end of 2026, which could lead to inflation and an uptick in rates, he said.

    NerdWallet’s Jarvis said he doesn’t see anything in bond yields to indicate significant movement in fixed mortgage rates in the immediate future.

    “Trying to predict fixed rates going months or years in advance is a fool’s errand,” he said.

    [email protected]

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    By Jami Makan
    06-02-2026

  6. Renovation inflation, strata chargebacks and severe weather are disrupting property insurance

    Vancouver homes are getting older, more costly to repair and more expensive to insure, according to a new report.

    Home insurance premiums in Vancouver rose 9.94 per cent in 2025, according to My Choice Financial Inc.

    A Feb. 3 report by the Toronto-based insurance comparison platform said rising premiums can be linked to aging housing stock and rising renovation costs.

    In Vancouver, 7.38 per cent of homes were built before 1960, and 5.89 per cent of homes require major repairs, said the report.

    Older homes with deferred maintenance pose higher risks for water damage, electrical fires and structural failure, explained Vitalii Starov, My Choice’s vice-president of product growth.

    As the cost of repairs goes up—renovation inflation in Vancouver was 1.91 per cent last year—homeowners may delay fixing things, which increases risk and pushes premiums higher, he said.

    A home’s replacement cost is the key ingredient in property insurance pricing, Starov said.

    The study looked specifically at detached and semi-detached houses around 2,000 square feet with three to four bedrooms, monitored fire alarms, burglar alarms, fire extinguishers, fire coverage and enhanced water coverage.

    Condo chargebacks

    Insurance for condos works a bit differently, said Sean Ingraham, senior vice-president with FirstService Residential.

    There are often two insurance policies in play: the strata corporation’s policy, which covers common property and can have a five- or six-figure deductible, and the individual condo owner’s personal policy, which covers their unit and can have a much lower deductible of several hundred dollars.

    If the condo owner causes damage—water damage is most frequent—to other parts of the building, it’s very common for strata corporations to have a bylaw where they charge back the strata’s deductible to the responsible unit, he said.

    An owner’s personal policy normally covers this chargeback, but if they don’t have personal insurance—it’s not mandatory—the owner would have to pay the strata corporation’s entire chargeback out of pocket, which can be financially ruinous.

    “I’ve heard of one strata corporation that has a million-dollar water deductible,” Ingraham said.

    Even if the condo owner has a personal policy, it may not cover the whole chargeback if the strata corporation’s deductible has gone up recently. Strata corporations are supposed to notify the ownership of significant changes to the corporation’s deductible, but this isn’t always done, he said.

    That’s why it’s important for strata lot owners to take their strata corporation’s insurance summary to their personal insurer to ensure correct coverage, Ingraham said.

    The good news is that strata corporations’ deductibles are currently declining in B.C. due to a softer insurance market with more capacity, he said. This may be leading to lower insurance costs for some homeowners—particularly those governed by stratas that take steps to mitigate risk and have a history of fewer losses, he said.

    Perfect storm

    Not all risks can be mitigated.

    The frequency and cost of catastrophic weather events—those that cause at least $30 million in insured losses—have risen significantly in recent years, according to a November 2025 report by Toronto-Dominion Bank (TSX:TD).

    December’s atmospheric rivers in B.C. caused nearly $90 million in insured damage, for example, according to the Insurance Bureau of Canada.

    Likeleli Seitlheko, economist and author of the TD report, said B.C. accounted for five per cent of total insured losses between 1983 and 2024, compared to 42 per cent for Alberta and 24 per cent for Ontario.

    It’s more proportionate to B.C.’s population or economy relative to Canada, she said.

    Seitlheko said she’s seeing some evidence that areas of Canada that have had higher losses are seeing premium increases.

    Insurance companies may also be increasing deductibles, reducing coverage levels or even pulling out of some areas affected by repeated flooding and hailstorms, she said.

    This may be due in part to underwriting losses, meaning an insurance company’s claims and operational costs are higher than premiums collected.

    She suggested people research climate risk for the areas they’re looking to buy in and invest in property upgrades that make homes more resilient in high-risk areas.

    [email protected]

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    By Jami Makan
    06-02-2026

  7. The number of multi-unit developments on single-family lots is increasing in B.C. neighbourhoods dominated by single-detached houses. Opinions vary over what these changes will mean for communities.

    Byron Cook has lived in the same house in North Burnaby for more than four decades. He loves his neighbourhood and knows it like the back of his hand.

    Lately, he’s dismayed at the new buildings going up. He calls them “monstrosities,” a wave of three- and four-storey buildings with three or four homes in each, mostly replacing old post-Second World War bungalows and looming over neighbouring houses.

    “Pretty well every block’s got one or two of these things going up here all of a sudden. … They’ve just totally distorted the whole neighbourhood,” Cook says. He worries the new buildings will make parking and traffic worse, and will cast shade on neighbouring properties.
    By https://vancouversun.com/news/local-news/multiplex-feature
    31-01-2026

  8. Property includes four-bedroom residence with mountain views

    DEAL | A 29.4-acre blueberry farm at 34659 Townshipline Rd., Abbotsford, sold Nov. 26, 2025, for $3.7 million. The well-drained property includes a 2,880-square-foot residence with mountain views and 27.5 acres laser-levelled and planted to high-producing Duke and Calypso varieties.

     

    PRICE | $3,740,000

    FROM | Rajin Gill, B.C. Farm & Ranch Realty Corp.
    By Rajin Gill, B.C. Farm & Ranch Realty Corp
    16-01-2026

  9. A proposal to build a 39-storey rental tower on West Hastings Street and a 20-storey mixed-use hotel tower on West Cordova Street would add 738 rental homes to the area

    Five years after Vancouver’s Army & Navy department store closed its doors, city planners are backing a dramatic remake of the crumbling, historic Gastown site with two highrise towers — even as they admit the plan doesn’t conform with the city’s own development policies.

    In a city staff report going to council Tuesday, city planners are recommending councillors send two rezoning applications to a public hearing, clearing the way for a 39-storey rental tower on West Hastings Street and a 20-storey mixed-use hotel tower on West Cordova Street. Together, the buildings would add 738 rental homes to the neighbourhood, including hundreds of below-market units just west of the troubled Downtown Eastside.

    The project is from Army & Navy Properties in partnership with local developer Bosa Properties. The proposal marks the retail company’s first foray into real estate development.

    Brian Davie, president of the Gastown Residents Association, said the proposal has stirred mixed feelings among residents in the neighbourhood.

    While many are excited by the idea of the Cordova Street tower, particularly its inclusion of a boutique hotel and the decision to preserve historic facades, Davie said opinions are more divided on the height of the Hastings tower.

     “A lot of people would prefer the Hastings tower to be lower because of the view that will be lost with a building that tall,” Davie said. “But we’d rather have the building taller than not at all.”

    The staff report says the scale of the towers could set a precedent for further highrise rezonings in the area, which has long been protected from such development, potentially affecting the area’s historic character.

    The north building, with its main entrance at 36 West Cordova St., is considered one of Vancouver’s most historically significant structures. Built in 1888, the building — known as the Dunn-Miller Block — once housed the city’s first synagogue and is protected under a heritage designation bylaw. The southern buildings at 15-27 West Hastings St. are not listed on the city’s heritage register.

    On West Cordova, city policy discourages preserving heritage buildings by keeping their facades only. Under the rezoning plan, the Cordova tower would do just that, with 219 rental homes, a 179-room hotel, street-level shops and an indoor public atrium on the ground level tucked behind the preserved street fronts of three historic Gastown buildings.

    However, city staff report Bosa’s estimated $11.4 million investment in restoring the facades is a major public benefit.

    On the Hastings side, the highrise would loom over Victory Square. The area plan limits new buildings to 10 storeys, but the proposed tower would rise to 39. It would include 519 rental homes, including 108 below-market units operated by the B.C. Indigenous Housing Society, as well as ground-floor retail shops, discounted commercial space for a non-profit, rooftop amenities, and a skybridge linking it to the Cordova Street highrise.

    The current proposal replaces a 2023 plan that called for shorter buildings of 19 and 11 storeys, with fewer housing units.

    Davie said breaking ground on the site is important, especially following what he described as the recent “gut punch” of the London Drugs store closing in the neighbourhood, which is next to the Downtown Eastside.

     “We’re all fighting for our neighbourhood to come back alive again,” he said.

    The city received roughly 240 public comments on the project, reflecting a mix of support and concern, with many people backing new rental housing, increased economic activity and revived storefronts, while others raised worries about the towers’ height, policy conflicts, heritage impacts, and the risk of gentrification and displacement.

    After years of sitting empty and deteriorating, the former Army & Navy buildings could finally be brought back to life. In the report, city staff note the site has been vacant since 2020, with no realistic redevelopment option under current rules, and describe the proposal as a chance to revive a landmark property while adding badly needed rental housing in a neighbourhood with few vacancies.

    “While the proposal is not consistent with several existing policies for the Downtown Eastside and Gastown, staff have concluded that … the public benefits associated with securing a large number of rental housing units and reactivating a long-vacant site warrant consideration of the application.”

    Both buildings would include at least 20 per cent below-market rental housing, with most of those units located in the Hastings tower. The plan also includes 2,500 square feet of below-market commercial space for a social enterprise or a non-profit, aimed at continuing Army & Navy’s long-standing role serving low-income residents.

     “The new project’s commercial ground floor, as well as the proposed uses and public benefits will provide an opportunity to reactivate the public realm and generate new activity in the area,” the city report states.

     “Therefore, staff have determined that the impact of the two rezoning applications are balanced by the redevelopment opportunity and public benefits.”

    City council is expected to refer the rezonings for consideration at a public hearing in the coming weeks.

    — with files from Dan Fumano

    [email protected]

    By Sarah Grochowski
    16-01-2026

  10. Iconic discount department store in Downtown Eastside closed in March 2020 at height of COVID-19 pandemic

    The former Army & Navy department store in the Downtown Eastside that was shuttered in March 2020 could be the site of two new large rental housing towers and a hotel, if city council approves the proposal.

    Council has to first refer the proposal to public hearing.

    That referral is likely to occur when council meets Jan. 20 and reviews the lengthy staff report that outlines the plans for the properties at 15-27 West Hastings St. and 8-36 West Cordova St.

    If referred to public hearing and later approved, the project would add 738 rental units, including 583 at market rents and 155 at below-market to the city’s inventory of rental housing.

    “The two applications represent an opportunity to deliver a significant number of market rental and below-market rental housing units in the [Downtown Eastside], including Indigenous non-profit operated below-market rental housing,” the staff report said.

    Three heritage buildings

    The proposal for the West Hastings Street property calls for a 39-storey mixed-use building with 411 market rental units and 108 below-market. The building would include a rooftop amenity space and commercial area on the ground floor.

    On the West Cordova Street site, the 20-storey mixed-use building would provide 172 market rental units and 47 below-market over a five-storey podium containing 179 hotel rooms.

    Commercial space would also be available on the ground floor.

    The podium consists of three heritage buildings, of which "façade-only retention" is proposed, said the staff report, which explained the two applications are being considered together because of several connections between them.

    “The parking access for 15-27 West Hastings St. is provided from 8-36 West Cordova St. as a cost-saving measure,” the report said. “Market rental residents in 15-27 West Hastings St. would also be able to access the indoor and outdoor amenity spaces located at 8-36 West Cordova St. via a skybridge over the lane.”

    By Mike Howell
    15-01-2026

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