Articles from Connect CRE

Global Education Communities is developing two rental-housing projects near the new Oakridge shopping centre in Vancouver. The projects will benefit from their proximity to Canada Line rapid-transit stations, catering to student housing demands and a broader multi-family rental market. Construction on the first project, GEC Oakridge, is underway and expected to complete by mid-2027, while the second project, GEC Langara, is still in the city approval process. Both developments are part of a broader collaboration with Pomerleau Capital to deliver an $800-million student-housing portfolio across Metro Vancouver.

Sightline Properties has proposed a major redevelopment near Vancouver's Renfrew SkyTrain station, involving four mixed-use high-rise residential towers with 1,959 homes. This development, the first under the city's new Rupert and Renfrew Station Area Plan, aims to integrate transit-oriented density with sustainable design features. The project, spanning 133,000 square feet, will include both condominium and rental units, along with retail spaces, and will be constructed in phases. The towers will range from 39 to 45 storeys, with a portion of the housing being below-market rental units.

PCI Developments has submitted a proposal for Marine Gateway 2 in Vancouver, seeking to transform a currently industrial zoned site into a mixed-use development. The project includes two 43-storey rental towers, along with mid-rise buildings, providing 1,000 rental units, 200 below-market rate. The project will also incorporate retail and industrial space, with a total floor area exceeding 1.16 million square feet. Designed by Perkins & Will, the development requires rezoning approval for comprehensive development.

Apartment-building sales in Metro Vancouver saw a significant decline in the first half of the year, primarily driven by a drop in suburban property transactions. The dollar volume decreased by 40%, with the number of transactions falling 46%. Notably, sales by non-profit and government buyers declined, contributing to the downturn. However, new construction represented 64% of the total sales volume, and a rebound is anticipated in the second half of the year.

Beedie has finished its Anvil industrial-condominium project in Surrey, B.C., located at 12939 Anvil Way in the Newton area. The development, described as a premium type rarely seen in Newton, offers eight warehouse units or a full-building opportunity of 91,843 square feet. Avison Young, the exclusive listing agent, highlights features such as insulated concrete tilt-up construction, 32-foot ceiling heights, and ample parking. The property is now available for tours and purchasing, targeting forward-thinking industrial clients.

The Canadian federal government is investing $326 million into infrastructure projects across British Columbia. This funding is aimed at developing essential and recreational infrastructure, including sports field lighting and safety improvements at Surrey’s Tamanawis Park. These investments are part of the larger Canada Community-Building Fund, which supports community development. Since 2015, this initiative has contributed approximately $3.1 billion to British Columbia.

Landa Global has acquired a partially constructed condo development project in Burnaby, B.C., through a court sale for $12 million. The project, called Siena, was placed into receivership after financial difficulties stalled its progress. The 52,753-square-foot development includes residential and commercial units and is located in a vibrant area undergoing rejuvenation. The acquisition allows Landa Global to avoid property-transfer taxes while continuing construction with necessary permits in place.

Apartment-condo sales in Metro Vancouver decreased by 2.9% in July compared to the previous year, with 1,158 units sold. The overall residential sales also declined by 2% year-over-year. The benchmark price for an apartment dropped to $743,700, showing a 3.2% decrease from the prior year. Although housing inventory remains stable, a potential acceleration in sales activity might shift the market conditions in favor of sellers.

Starlight Investments has started construction on the first phase of Harris Green Village in Victoria, BC, which is set to become the largest multi-family housing development in the city's history. The project will eventually provide over 1,500 rental homes and 100,000 square feet of commercial space, with phase one adding 526 rental suites, including 80 affordable units. Victoria officials and business leaders praised the development for addressing housing needs and demonstrating investor confidence in the area. Starlight, a Toronto-based firm, manages a significant portfolio of residential and commercial properties in Canada and internationally.

The industrial vacancy rate in Greater Vancouver reached 3.1% by mid-2025, the highest in a decade, following a steady increase since 2021. Leasing activity slowed due to potential U.S. tariffs, influencing industrial investments, with Maple Ridge-Pitt Meadows having the highest vacancy rate at 4.2%. Sublease availability hit a record high, while industrial sales saw a significant decrease, marking the weakest first half since at least 2015.

British Columbia Premier David Eby has rejected proposals from developers to ease restrictions on foreign investment in housing, stating that past policies led to unaffordable properties and empty homes. Developers argued that the existing rules hinder their ability to build new homes due to high costs and financing challenges, while foreign funding could help alleviate this. Meanwhile, housing experts and urban planners support keeping strict limits on foreign investment to avoid reinflating prices artificially. The provincial government, represented by Eby and Housing Minister Christine Boyle, remains firm on pushing for more housing development while maintaining their foreign buyer tax.

Clare Hooper, who works at Colliers as a Strategy & Consulting Development Manager, is responsible for overseeing two significant development projects in Vancouver's Broadway area for Fiera Real Estate. Her role includes managing municipal entitlements, coordinating consultants, engaging with the community, and supporting construction project management. Recognized for her outstanding contribution, she is also a recipient of the 2025 Canadian Next Generation Award by Connect CRE Canada. Hooper's architectural expertise and mentorship of junior planners have been key in delivering complex projects efficiently.