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  1. RioCan sells Surrey's Strawberry Hill Shopping Centre: $155M

    The 35-acre centre near 72nd Avenue and 120th Street includes retailers such as The Home Depot, Winners, HomeSense, Sport Chek and PetSmart. It’s also home to a Cineplex cinema and includes a large amount of surface parking area.

    Strawberry Hill has 35 retail units comprising 340,000 square feet of commercial space, said Yashar Khalighi, vice-president with CBRE in Vancouver, who represented the buyer in the deal. 

    Khalighi told RENX on Tuesday the deal was a share sale valued at $155 million. He identified the buyer as Strawberry Hills Shopping Centre Holding Inc. 

    By Evan Duggan
    30-01-2024

  2. A Vancouver waterfront view with a quirk: no property transfer tax

    “NO PROPERTY TRANSFER TAX,” it claims. “NO EMPTY HOMES TAX.”

    Built in 1960, the 19-storey, 68 unit building boasts one of the great locations in Vancouver, just west of the corner of Denman and Davie streets, across from a park and English Bay.

    Why would buyers at one of the most deluxe waterfront towers in the city not have to pay the property transfer tax, which at two per cent on $1.7 million would be $34,000?
    By John Mackie
    30-01-2024

  3. Vancouver city council approves vision for Jericho Lands

    The development partnership of three First Nations and a federal Crown corporation is one step closer to transforming 90 acres of West Point Grey into a high-density, car-light community after Vancouver city council unanimously voted in favour of their plan on Wednesday.

    The Standing Committee on Policy and Strategic Priorities officially approved the MST Development and Canada Lands Company (CLC) Jericho Lands policy statement.
    By Bob Mackin
    25-01-2024

  4. New B.C. resident stands to lose $82K in developer pre-sale ‘David and Goliath’ fight

    A Surrey man is accusing a B.C. developer of acting in bad faith and costing him tens of thousands of dollars.

    Sudip Sehgall is a relatively new immigrant to Canada and dreamed of owning his own home in B.C.

    He put almost $82,000 down on a presale townhouse in Surrey in December 2021, which was being built by Streetside Developments.
    By Amy Judd & Aaron McArthur
    25-01-2024

  5. Enough competition to ‘scare the living heck’ out of B.C. real estate agents as numbers surge

    The number of licensed real estate agents in B.C. has increased by almost 35 per cent from 20,825 to 29,416 over the past decade, according to data from the BC Financial Services Authority (BCFSA).

    “If BCFSA gave honest information right now about how many Realtors there are, what the competition is, what the average Realtor makes, and so on and so forth, I think it would scare the living heck out of most people getting into the business,” said Andrew Carros, managing broker of Engel and Völkers in Vancouver.
    By Claire Wilson
    24-01-2024

  6. Vancouver's 'most-artful hotel' to be redeveloped into massive rental and accommodation complex

    One of Vancouver's artsiest and most sustainable hotels is slated to be demolished and will be replaced with a new mixed hotel and apartment tower

    Bosa Properties and Henriquez Partners Architects are partnering with Listel Hospitality Group to redevelop the brand's downtown Vancouver hotel at 1300 Robson St.

    Listel and Bosa have submitted plans for its replacement, a 28-storey tower with a hotel on the lower floors and rental units on top. In total, 174 hotel rooms are included in the proposal, with 126 residences. 
    By Bredon Kergin
    23-01-2024

  7. Spuzzum First Nation unveils ambitious plans for all-season resort near Coquihalla summit

    A First Nation in the Fraser Canyon has ambitious plans for an all-season tourist destination near the Coquihalla summit — including a ski resort, golf and thousands of homes.

    If built, the Spuzzum First Nation says the South Anderson mountain resort would be a scale comparable to Sun Peaks, Big White or Silver Star.
    By Tim Petruk
    23-01-2024

  8. B.C. office tenants hope ‘hotelification’ brings back workers

    “It’s about injecting finishes and design details that really speak to people and entice them to come in. With hotels you feel like it’s a home away from home, so you’re trying to create that feeling in the workplace,” said Lee, who also acts as design principal for CLVR, which specializes in the interior design of multi-family residential and commercial spaces.

    Downtown Vancouver’s office vacancy sits at 11 per cent as of the fourth quarter of 2023, up from approximately two per cent just prior to the pandemic, according to data commercial real estate firm CBRE Group Inc.
    By Claire Wilson
    19-01-2024

  9. Lethbridge set for a rebound in 2024 as costs stabilize

    “While high construction costs and increased interest rates have caused a slowdown in our market, we are starting to emerge from a holding period into one of new development,” said Jeremy Roden, executive vice-president in the Lethbridge office of commercial brokerage Avison Young.

    Building permit values increased 40 per cent in Lethbridge in 2023, according to city statistics, setting the stage for significant construction activity in 2024.
    By Peter Mitham
    19-01-2024

  10. Massive Jericho project inches ahead as polls show vastly different views

     A proposal to build a dense neighbourhood on Vancouver’s west side faces opposition from residents of the surrounding area, but new polling suggests residents citywide take a more favourable view.

    Next week marks the latest step in the years-long planning process for the 13,000-home Jericho Lands development, with city staff seeking council approval for the next phases of planning and technical studies.

    A neighbourhood group opposing the proposed high-density development is calling for city hall to put the brakes on the planning process for a year, to wait for those technical studies. 
    By Dan Fumano
    19-01-2024

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