Happy New Year!

OK 2023 is here and last week I reported on activity for the year as well as projected activity for this new year so you can check that post out as well. As is typical for the holidays activity was light again last week with just 2 closings and not other transaction activity in urban condos.

I did notice that the paving is complete and striping is done on the new temporary parking on Blocks 13 and 14 at the waterfront. All that remains is some final landscaping and the installation of the parking payment systems. Once those spaces are officially ‘online’ they can begin the parking structure construction on Block 7. Based on the final presentation to the CCRA last year, that will require a tower crane which will bring the total in Vancouver to seven cranes. We currently have a record six operating now,

Once the new garage is operating which will probably take 12-14 months to complete, the final phase of development can begin at the Waterfront. Blocks 5, 10, 11, 13, and 14 will be available for development as the temporary surface parking will no longer be needed. The only other block available right now is Block 16. That block had a proposal for a 14 story condo tower that I believe is now dead. Block 16n is also currently serving as a staging area for the very large Block 18 project, The Springs Living that is just now rising above street level. That project will top out later this year at 12 stories.

The Waterfront has been a roaring success and that is really not refutable. Although some projects were scaled back in height due to a combination of FAA restrictions and costs associated with building type one high-rises, the development is pretty close to or maybe even ahead of schedule for full buildout. Of the 21 blocks on the Waterfront, eight are complete, three are under construction, one will break ground this month, another will break ground in Q1 this year. Two blocks are already committed to development but may not star until next year as they are currently serving as staging for the giant ZoomInfo HQ project at Terminal One. This leaves just six of the 21 blocks at the Waterfront to go. The original talk was an 8-10 year buildout and we are only six years in at this point.

Meanwhile next door at Terminal One, they seem to be ahead of schedule with one of the four blocks already complete and two more under construction now. Only the fourth block and the new pier remain. I noticed that the AC Marriott hotel at Terminal One has ballrooms on the seventh floor that have pretty nice views. That might make a great location for the New Year Gala that used to happen at the now demolished Inn at the Quay. Hmm, good idea, methinks.

The Aegis Phase one should be complete by the middle of this year and Phase two should start shortly thereafter. Based on the designs and renders submitted to the city, that phase may need a pair of cranes to complete. If so and if those cranes go up this year Vancouver could have nine tower cranes in operation simultaneously. There are some major US cities that don’t have that many right now 🙂

Starting this year I’d like to do some on-line polling about restaurants, bars, breweries, coffeeshops, wineries and such in the greater Downtown area. I figure, why not start right now? What are your three favorite places to get coffee? I stuck to the urban core but let me know if I missed a spot 🙂 Poll might not appear in email version, but a link to the web version is at the bottom of your email.

One thought on “Happy New Year!

  1. Pingback: What’s Going On Underneath The Cranes? – Urban Living in the 'Couv'

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