Andreas Nystrom

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Vancouver City Council has recently approved the massive redevelopment project of the Oakridge Mall. This $1.5 Billion redevelopment is one of the largest the city has ever seen. If you think that the Cambie and 41st intersection is crowded already too busy then just wait and see. With other developments appearing along 41st and Cambie the area is expected to change dramatically in the next 5-10 years.

 

Since the new Canada Line was created for the 2010 Olympics, Oakridge Mall has been increasing in it's popularity and more and more in high end stores just as Crate and Barrel are starting to appear. One of the largest and most promising additions to Oakridge mall was the Apple store a few years ago.

 

The vote itself from city council was about a 6-3 in favour of the redevelopment. There are quite a few people opposed to the development because they say it is changing drastically from the Cambie feel. This quiet neighbourhood will be forever be changed with towers and shopping that reflect the density and height of the downtown area. With Marine Gateway already steaming ahead, many believe this is too much.

 

 

This project doesn't just have a commercial aspect to it, the idea is that many others will benefit from the redevelopment. In additional to new stores and residential there will be: more health facilities, Vancouver School Board, Community Centre, Public Library, Seniors Centre, Daycare, Fitness and many other community benefits. All in all about 70,000+ sqft of community space.

 

The mall istelf will now include 10 new towers with maximum a height of 44 storeys, over 3,000 residential units and over 1 million sqft of commercial, office and community space.

 

TransLink is already participating in negotiations to increase their, already overcrowded CanadaLine, to accomodate the increased capacity in the near future.

 

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Marine gateway which is currently under construction at the intersection of Cambie Street and Marine Drive in Vancouver is about to be a new booming commercial district for the city. The South Cambie area has been lacking a commercial area for some time now and with the Canada Line's Marine Drive station this new development will be very attractive for commuters.

 

With less than a 20 minute commute downtown, this less expensive alternative to living in-town or downtown is becoming quite popular with business professionals, couples and young families.

 

Marine Gateway has just announced that it's two largest commercial tenants Cinplex and T&T Supermarkets will be opening their doors in the near future. T&T Supermarkets is the second confirmed tenant behind Cineplex when they announced to open an 11 screen 1,950 seat theatre.

 

 

When everything is completed in 2015 this will be one of the largest commercial districts in the South Vancouver area. With only 2 stops away from Oakridge, 1 stop from Langara and short trips to Richmond, Vancouver and the airport this central locations is very desirable.

 

Marine Gateway is still pending on filling the rest of the commercial spaces, but you can expect to see the Vancouver staples, such as Stabucks, Sushi, Cafes and more!

 

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If you thought that the Vancouver rental market was crazy then check this out. An ad featuring a $600 den, with no closet, no window, no carpet is for rent downtown Vancouver for a crazy amount of money. Here is the official ad that was posted in the Vancouver area:

Craigslist Ad:

I am renting my unfurnished den. starting now or April 1st everything included (hydro, internet, heat…)
Female only
Great location 1 block away from Granville and Robson streets.

We gonna be sharing the living room, kitchen and bathroom

IN-SUITE WASHER/DRYER
Big Screen TV
Full Kitchen
WASHER AND DRYER

Building Amenities:

Fully equipped gym (free weights, weight system, stationary bikes, row machine, treadmill, etc.)
Full time concierge
Entertainment room
Outdoor Jacuzzi

Email for pictures or if you have any questions

The City of Vancouver has spent a lot of time and money steering developers into creating more rental suites to ease the demand. Right now the vacancy rate for rental properties in Vancouver hovers between 0.1-1.5%. This vacancy rate is how people can ask so much for so little.

 

If you are considering moving downtown or anywhere else in the GVRD then maybe it's time to start thinking about ownership. A lot of new developers are creating incentives to get you in the door that well make up for the high mortgages and can get you on your way to equity, freedom and in the market!

 

If the time is right, stop wasting your money on rent and start paying off your own mortgage. And as always, don't hesitate to contact me with any questions.

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In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014. This represents a 40.8 per cent increase compared to the 1,797 sales recorded in February 2013, and a 43.8 per cent increase compared to the 1,760 sales in January 2014.

 

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17 sales separating the two figures.

 

The sales-to-active-listings ratio currently sits at 18.9 per cent in Greater Vancouver, a 4.9 per cent increase from last month.

 

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, REBGV president.  “We typically see home buyers become more active in and around the spring months.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,700 in February. This represents a 2.8 per cent decline compared to the 4,833 new listings reported in February 2013 and a 12.1 per cent decline from the 5,345 new listings in January. Last month’s new listing count was 0.5 per cent below the region’s 10-year new listing average for the month.

 

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 13,412, a 9.3 per cent decline compared to February 2013 and a 6.4 per cent increase compared to January 2014.

 

“With the market continuing to perform at a steady, balanced pace, it’s important for home sellers to ensure their homes are priced correctly for today’s conditions,” Wyant said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $609,100. This represents a 3.2 per cent increase compared to February 2013.

 

Sales of detached properties in February 2014 reached 1,032, an increase of 46.6 per cent from the 704 detached sales recorded in February 2013, and a 6.3 per cent decrease from the 1,101 units sold in February 2012. The benchmark price for detached properties increased 3.5 per cent from February 2013 to $932,900.

 

Sales of apartment properties reached 1,032 in February 2014, an increase of 35.8 per cent compared to the 760 sales in February 2013, and a 1.2 per cent increase compared to the 1,020 sales in February 2012. The benchmark price of an apartment property increased 3.6 per cent from February 2013 to $373,300.

 

Attached property sales in February 2014 totalled 466, an increase of 39.9 per cent compared to the 333 sales in February 2013, and a 9.9 per cent increase from the 424 attached properties sold in February 2012. The benchmark price of an attached unit increased 0.6 per cent between February 2013 and 2014 to $458,300. 

 

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The Vancouver downtown eastside is a very rapidly changing neighbourhood and the city plan that has just been revealled will help it along. Inside this plan are the following key elements that will help the neighbourhood keep its heritage as well as development for the future.

 

Some of the key objectives are:

  • Create housing choice through achievable and aggressive housing targets and policies (both inside and outside the DTES), while protecting heritage character and scale
  • Consider additional height, in specific locations, to support public benefits that help improve well -being for all residents
  • Strengthen Hastings Street as a mixed-use corridor and and local serving retail street
  • Foster local economic development and social innovation that benefits all residents
  • Secure community assets and manage the social impacts of change and development, particularly on low income and vulnerable people

 

The Downtown Eastside (DTES) is one of Vancouver's oldest neighbourhoods, and the historic heart of the city.

 

The DTES has many assets, especially for its low-income residents, who appreciate feeling accepted and at home, and benefit from living near health and social services. Many volunteers contribute countless hours to help improve the community and work for social justice.

 

In recent years, the Downtown Eastside has struggled with many complex challenges including drug use, crime, homelessness, housing issues, unemployment, and loss of businesses in the community.

 

The goal of the Downtown Eastside local area plan is to create a vision and plan for the Downtown Eastside  that will focus on ways to improve the lives of low-income DTES residents and community members.

 

 

 

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Please visit our Open House at 412 2101 MCMULLEN AVE in Vancouver.
Open House on Sunday, March 2, 2014 2:00 pm - 4:00 pm
Welcome to Arbutus Village! Spacious one bedroom in Vancouver's desirable Westside. This updated unit is in a solid an dwell managed concrete building. Walk through the tranquil park-like setting to your recreational facilities - which includes an indoor and an outdoor pool. Lots of upgrades to include new floors, paint and sound system. Only a few minutes walk to Arbutus mall and Prince of Wales Secondary School. Sorry no pets or rentals allowed. Very quiet setting. OPEN HOUSE MARCH 1/2 2-4PM.
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