In the face of the pandemic, lockdowns, and a slower flow of investor cash, the city trudges along with plans for Downtown including several projects in the pipeline on the waterfront. The city has dived deep into the process for the new “Waterfront Gateway” district just south of City Hall and the Convention Center. This area will likely be ready for development proposals within the next few years. By the time it is ready, the 21 blocks of the Waterfront should be 60-70% committed or completed.
The city intends for Gateway to be a more “affordable” area for middle class people rather than the more upscale waterfront properties. This is a good thing and will ultimately lead to a robust and busy Downtown filled with a variety of Vancouver’s residents enjoying the amenities of an increasingly ‘chic’ area.
In addition to the master planned districts on the Waterfront and Gateway, there are a number of quality urban infill projects taking underdeveloped properties and bringing them up to modern urban standards. The following is a partial list of urban infill projects underway or in the pipline:
- Residences at Arnada – VHA
- Hudson West – Cascadia Development Partners
- Bennett Apartments – Hurley Development
- WXV Apartments – Ginn Development
- Tinkerton Lofts – VHA
If we can sustain the economic growth we had prior to the outbreak Vancouver’s Greater Downtown area should really blossom into the best urban neighborhood in the entire metro area. Let’s hope the upcoming vaccines for COVID 19 are effective and we can move past this Corona Virus debacle.
Meanwhile activity was pretty typical for urban condos this past week. Inventory remained flat and prices are steady.