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  1. Big Six recorded $3.54 billion in loan loss provisions in most recent quarter and analysts expect that figure to climb

    While the Big Six recorded a total of $3.54 billion in provisions for credit losses (PCLs) for the three-month period ended July 31 — more than double the $1.54 billion registered in the same quarter in 2022 — analysts expect the figure to continue to climb as the weight of higher borrowing costs settles in.

    “We’re gonna see higher PCLs on impaired loans only because we’re just at the starting line of pressure on companies and households. Right now, we wait and see how the economy unfolds,” Barclays PLC senior analyst John Aiken said.

     

    By Denise Paglinawan
    08-09-2023

  2. Manufacturing offsite for ‘public land parcels with underutilized land’ seen as solution to B.C.’s high construction costs and housing prices

    Prefabricated apartments and public land are being pitched as paths to solving British Columbia’s housing affordability crisis, according to some city planners and Alex Boston, executive director of the Renewable Cities think-tank at Simon Fraser University.

    "This is a huge opportunity to deal an ace card for British Columbia,” Boston told Metro Vancouver directors Thursday ahead of a report calling for the formation of an off-site rental home construction industry.
    By Graeme Wood
    08-09-2023

  3. North Delta residents will get their first in-person look at an 800-plus-home highrise development pitched for a Scott Road shopping centre during four public information sessions later this month.

    The proposed development includes 4 buildings ranging from 6 to 32 storeys in height with a total of 876 residential units, 10,572 m2 (113,796 ft2) of office space, 7,178 m2 (77,263 ft2) of commercial space and 310 m2 (3,340 ft2) of childcare space. The following are key aspects of the proposal:
    By Let's Talk
    04-09-2023

  4. Two projects in Colwood cover 374 acres and will host 5,000+ new homes

    The huge Colwood build is an anomaly as total new home registrations in B.C. through the first half of 2023 fell 23 per cent compared to the first six months of 2022. And, despite the highest home prices in Canada, housing starts could fall even further as developers pull back from buying land.

    B.C. residential land sales through the first half of 2023, dominated by Metro Vancouver which accounts for 58 per cent of provincial home starts, were down 80 per cent from a year earlier, according to Avison Young, to $569 million, the lowest level in at least five years.
    By Frank O'Brien
    31-08-2023

  5. Bribery in a commercial setting is a "hidden standard"

    Builders must pay to play.

    Before a project is approved, the city is demanding through a private "negotiation", a payment of millions of dollars they saw will go towards "amenities" like daycares, or community centres, even though billions paid often disappear into the black hole of government.
    By Paul Sullivan
    31-08-2023

  6. Community housing fund now open to municipalities, non-profits, First Nations to access money

    A new pot of money announced Monday for affordable home construction in B.C. will not be directly funnelled to the 10 municipalities put on a “housing target” list earlier this year by Housing Minister Ravi Kahlon to build more homes.
    By Mike Howell
    29-08-2023

  7. The Senakw tower development (Squamish First Nation and Westbank Developments,) will add up to 12,000 residents to the busy south end of the Burrard Street bridge but will have less than 1,000 parking stalls. | Revery Architecture

    Developers, City refuse to release transit details for the up to 12,000-resident Senakw development because it would harm intergovernmental relations and reveal Indigenous cultural heritage and traditional knowledge .

    The Senakw Lands are anticipated to generate 4,900 person trips during the AM peak hour. Transit trips could be between 1,200 and 1,700 during the peak hour, which equates to 10 to 14 additional articulated buses.
    By Bob Mackin
    28-08-2023

  8. Loosening restrictive zoning rules can increase housing supply and stabilize rents

    Between 2013 and 2018 housing supple strained Auklands supply. The city's home prices doubled between 2009 and 2016. Unwilling to continue down this path, Auckland turned to incremental development, upzoning three-quarters of its residential land area legalizing duplexes, triplexes, and townhomes on single-family lots.
    By Asia Mieleszko
    21-08-2023

  9. B.C.’s Building Code that will require all new homes to have at least one temperature-controlled room

    A forthcoming change to B.C.’s Building Code that will require all new homes to have at least one temperature-controlled room presents an important opportunity to build creatively for the future, says an expert in environmental design and sustainable architecture.

    The government is proposing that all new homes have a minimum of one living space that is designed not to exceed a temperature of 26 C, through either passive cooling measures, such as shading, or a cooling appliance.
    By Andrea Woo
    17-08-2023

  10. McDougall Creek wildfire represents the Okanagan's most significant threat since 2003

    Approximately 4,800 properties in West Kelowna were put on evacuation alert late on Aug. 16. This exapnded to 5,700 properties on Aug. 17, with initial evacuation orders given to 68 properties in the vicinity of Bear Creek Road.

    An active wildfire within 25 kilometres of a property under contract will typically see most insurance companies hold off binding a new policy, typically essential for financing, until after the threat has passed.
    By Peter Mitham
    17-08-2023

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