Downtown market still TIGHT

The condo market in the urban core is getting even more tight. Take a look at the availability in the various projects in the urban area.

Downtown:

  • Academy Square (50 units) : 0 active, 1 pending, 0 recent sales
  • Heritage Place (138 units) : 2 active, 3 pending, 7 recent sales
  • Frontier Block (22 units) : 0 active, 0 pending, 0 recent sales
  • Parkview (125 units) : 6 active, 3 pending, 8 recent sales
  • Viewpoint (33 units) : 1 active, 0 pending, 0 recent sales

Columbia Shores:

  • Meriwether (19 units) : 2 active, 0 pending, 1 recent sale
  • Northwynd (202 units) : 3 active, 1 pending, 12 recent sales
  • The Village Tower (96 units) : 3 active, 2 pending, 3 recent sales
  • The Village Townhomes (39 units) : 0 active, 0 pending, 0 recent sales

Heights / Tidewater :

  • Riverside (52 units) : 0 active, 0 pending, 0 recent sales
  • Shorewood (187 units) : 0 active, 4 pending, 7 recent sales
  • Tidewater (152 units) : 1 active, 1 pending, 7 recent sales

So the total market gross units I’m tracking in the Vancouver urban core is 1,115 units with 18 active. That is pretty tight with about 1.6% of total inventory available. That is more much more generous than the single family housing market locally but for the urban condo sub-segment that is tight! That bodes well for the upcoming release of the 40 brand new units in Kirkland Tower. Those will be expensive units likely fetching seven figures each and that million dollar plus segment is now even tighter than before.

You may notice however despite the market being light on inventory a new listing did appear in Viewpoint at Vancouver Center, Vancouver’s tallest condo project (until Kirkland Tower opens this summer) The 8th floor unit faces west peeking out over the top of Parkview at Vancouver Center. I actually prefer the east facing units but this unit does have a pretty good view across the densely built east side of Esther Short Park over the waterfront and the Columbia River. The unit has been completely remodeled so it does not have the dated look of some units in the tower that harken back to 2004. It is listed at $969k features 2 beds and 2 baths with nearly 1600 sf of space.

DosAlas opened up last week atop the Jean building on the Grant Street Pier. That is a nice restaurant with a very Miami South Florida vibe and a latin menu influenced by Argentina, Peru, Mexico, and the Caribbean. They have many cool cocktails including a unique take on the “Old Fashioned” served in traditional lowball inside a smokey glass container. They also serve up some very expensive cocktails and shots using the most exclusive liquor brands in the world. DosAlas is now one of Vancouver’s more upscale restaurants. This spot plus the arrival of El Gaucho later this summer will add a some serious ‘street cred’ to Vancouver’s Waterfront food scene.

Around the city center Vancouver continues to see progress on more than dozen projects. The AC Marriot Hotel, and both Towers at Holland on Block 10 are now nearly topped out. The Columbia will have 248 units ready for occupancy this fall on Block 20 at the Waterfront. The Kirkland Tower and Indigo Hotel on Block 4 at the Waterfront are nearly completion and should be open sometime in the summer, probably late in the season. The first phase of the Aegis project at the Academy is also well under way the tower crane base is installed and the crane should be operating in a matter of days.

contact Rod today to tour any of Vancouver’s available urban condos

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