Down Town Vancouver Condominium Proejects

Moratorium on Vancouver's Downtown Condo Developments
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City Hall has placed a moratorium on Vancouver’s Downtown new construction. The area consist of a 17 block area from Stanley Park (2000 block) to Cambie Street Bridge.

City staff, who are at the tail end of a five-year re-think of the downtown, recommended that a much wider section of the downtown core be preserved for business-only, although some exceptions will be allowed. If a mixed-use, part-condo development can help preserve a heritage site or residential hotel or if it’s a particularly large site, then council can consider allowing it.

The new area will cover about 15 per cent of the downtown peninsula, extending east and west from the Commercial Business District (CBD) core that exists now.

This policy is intended to guide downtown development for the next 20 years. But then, maybe not. The city could still end up raising height limits in various parts of the downtown where residential is still allowed. We don’t know yet what mix of office and residential planners will recommend for the next big build-out downtown area, Northeast False Creek.

April stats show only a 3.5 month supply of condos in the Downtown Market and only 33 listed under $300,000. View my Downtown stats

Ozzie Jurock thinks this action “could drive prices for Downtown condos higher”.