It has been reported recently that Washington State Governor, Jay Inslee is going to relax some of the construction restrictions implemented last month due to the COVID-19 pandemic. To be clear the governor is not opening up construction without restrictions. Contractors large and small will have to adopt some guidelines and safety procedures to ensure that COVID-19 is not easily spread on worksites. However, work will continue on the projects that have been siting idle since the end of March.
Kirkland Tower and the Indigo Hotel should be able to finish up as well as the continuance of other significant developments around Vancouver such as the Aria, The Columbia, Vancouver Center 4, and Mill Plain II. Hopefully projects that were expected to break ground in April but did not may be able to get going in May. This could include Phase I of Aegis at the Academy, and perhaps even the Timberhouse on the waterfront.
Three urban condos went pending this past week with no new listings so the urban condo inventory in Vancouver is a bit tighter this week. It is encouraging to see continued positive movement in the urban market. However the listing side is a still soft and that could be a side effect of Corona Virus fear.