Archive for May, 2014

CP ‘explores options’ on Arbutus line

Thursday, May 8th, 2014

CP stopped using line in 2001

Naoibh O’Connor
Van. Courier

Residents along the Arbutus Corridor are being told access will be affected as Canadian Pacific clears brush and surveys the land along its abandoned 9.5-kilometre rail track.

CP has informed resident groups along the line that it’s taking steps “to use the property in support of rail operations.” The corridor, which encompasses 45 acres from the Fraser River to False Creek, has been at the centre of a dispute between the company and the City of Vancouver.

The Shaughnessy Heights Property Owners’ Association [SHPOA] issued a bulletin to its members, stating: “The proposed rail operations will impact vehicular/pedestrian traffic at intersections, existing community gardens, public safety, noise levels and property values at some nearby homes.”   

David Cuan, SHPOA’s president, said he spoke to Howie Charters over the phone. Charters, who’s from Colliers International Consulting Services, has worked on the Arbutus Corridor file for CP over the years.

Charters could not be reached by the Courier’s print deadline, but Cuan said Charters told him May 6 that homeowners should expect a letter from CP within 10 days.

A representative from CP also contacted the Arbutus Ridge Kerrisdale Community Plan Implementation Committee [ARKS] via email last week to inform the group about latest developments.

“You may recall that quite a number of years ago CPR undertook a community visioning process that received input from your organization. The process identified alternative uses for the corridor that included public uses such as greenway for cyclists and walkers, community gardens, public transportation and selective “ecodensity” infill mixed use development in selected areas,” the email stated.

“After numerous conversations on these type of uses over the years, CPR has been unable to dispose of this valuable property and will be taking steps to use the property in support of rail operations. In preparation, a number of activities will be taking place that will include brush cutting to permit inspection, surveying and repair work. This work is getting underway immediately and CPR wants to keep your organization and its members informed.”

Jim Hall, chairperson of ARKS, said he had a subsequent discussion with a CP representative, who he didn’t name, at which time Hall was told the line would be used for training and storing vehicles.

“Therefore the vehicular access points will have to be upgraded — the signals. They will close all the pedestrian crossings that are currently being used… and probably fence it to keep the public off.”

Ed Greenberg, a CP spokesman, told the Courier the Arbutus Corridor is still considered an active rail line.

“We’ve had crews out there clearing the brush, so we can do a survey of the land, which comprises the Arbutus Corridor,” he said. “So we’re clearing the brush and the growth along that corridor so we can do a new survey of that area to ensure we have a current record of our property. There have been no decisions made on a fence and there have been no decisions regarding any operations through that area. We are exploring operational options, but no decisions have been made.”

While the property is designated as a rail right-of-way to be used for rail purposes, CP stopped shipping product on the line in 2001. Pedestrians, cyclists and community gardeners use the land now, although they’re actually trespassers on private property.

The city’s Arbutus Corridor Official Development Plan designates the land for transportation, including rail and transit, or for greenways, following public hearings in 2000 — a position endorsed by the Supreme Court of Canada in 2006 following legal challenges.

For years, there have been suggestions the city should buy it or make a deal with CP, but the two parties dispute the land’s value.

A $100 million figure was floated more than a decade ago, but today’s value is unclear.

A half dozen years ago, CP funded a visioning exercise within the four neighbourhoods the rail line runs through. The final report, issued in 2007, concluded “the best use of the Arbutus lands will come from a coordinated development that integrates them with surrounding city owned lands into a comprehensive development plan.”

In 2010, deputy city manager Sadhu Johnston told the Courier he wasn’t convinced conclusions reached in the document were realistic and that the city wants a streetcar capable bike and pedestrian corridor.

The mayor’s office emailed a statement to the Courier late Thursday afternoon about CP’s intention to reactivate trains.

“Recently, the Canadian Pacific Railway began preparations to reactivate the Arbutus Corridor to run trains. However, the city has very little detail from CP about their plans, other than that they intend to run trains along the route. The city doesn’t support the reactivation of cargo trains along the corridor and we have expressed this clearly to CP. The corridor is a unique, green route running from False Creek to the Fraser River, crossing several residential neighbourhoods, and our vision for it is to maintain it as a greenway for residents of Vancouver until there is a viable case for rail transit use,” the statement from Mayor Gregor Robertson reads.

“The city has spent many years trying to work with CP to have them recognize the need for the corridor to remain a community greenway until there is a viable case for passenger rail use, and that it is not suitable for large-scale development or cargo trains. I support the Arbutus Corridor as a community greenway and future transit corridor, and ask CP to respect the neighbourhood’s wishes and the Arbutus Corridor Official Development Plan.”

© Vancouver Courier

Mexico – Third Largest Real Estate Market in the World

Wednesday, May 7th, 2014

The AMPI International Summit, “AIRES” will be held on June 12-15, 2014 and will highlight market opportunities, resort communities and connect with key Mexico destinations for international investment.

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Puerto Vallarta, Jal. – May 5, 2014.

Mexico is the third largest real estate market in the world and it is expected to continue to grow. Canadian investors are flocking to Mexico to buy retirement and investment properties. A recent informal survey conducted by Mexi-Go! of real estate offices across Mexico indicated that Canadian buyers make up as much as 70% of all purchasers of vacation product within some destinations in Mexico. Vallarta-Nayarit estimates 50% buyers from Canada while Mazatlan sees closer to 70% and Los Cabos 30%. Canadians are the second largest nationality of travelers to Mexico making up nearly 20% of all visitors. (Americans are first with about 60%.) Mexi-Go! CEO, Madeline Milne will be discussing this Canadian market at the AMPI Summit in Riviera Maya from June 12-15th, 2014.

Rapid yet stable development is occurring in many prime regions throughout the country. Popular vacation destinations are now welcoming the influx of North American, European and Russian investors who are looking for warm weather, low real estate prices and luxury amenities. Los Cabos, Vallarta-Nayarit, Riviera Maya and Huatulco are attracting more tourists, snowbirds, retirees and investors each year. Minister of Tourism for Nayarit, Rodrigo Perez Hernandez recently stated that, “over 450 million pesos has been invested in the past six years in Nayarit by foreigners purchasing real estate and investments. Projections put this at double in the next five years.”

“We are seeing investors, both Mexican and foreign, building amenities to accommodate the wave of ex-pats that are coming”, says Madeline Milne, “when they are building hospitals and a Starbucks on the corner, due diligence shows that the dollars are coming.”

Understanding this force of buyers, and presenting the message and brand in Canada is key to a successful Mexican development these days. Canadian consumers and realtors are eagerly looking to Mexico as a real estate opportunity. For home owners the options are varied and prices range from $99,000 to the sky’s the limit. Strong vacation rental markets ensure that properties see a return on the investment. Real estate brokers are beginning to understanding the power of the referral when it comes to this international real estate boom.

Canadians can purchase a two or three bedroom townhome with luxury amenities in Los Cabos for as little as $145,000 at Ventanas Residences, an ocean view condo in historic Old Town Puerto Vallarta for $190,000 at The Park or at Papaya 15 in Playa del Carmen a one or two bedroom condo from $145,000. With prices like these, low interest rates in Canada and pent up demand from the newly retiring Boomer generation, the real estate market in Mexico is set to sky rocket.

Attending the AMPI Summit this June is an opportunity for realtors, developers and brokers to network, create referrals and learn more about the influence of the foreign buyer in Mexico. Extremely affordable, the three day event is only $100. There is an opportunity to become AMPI certified during the event for $450. Hosted at Bahia Principe Master Development in Tulum only adds to the attraction of attending.

Condo owners ignoring depreciation reports

Wednesday, May 7th, 2014

Frank O

Yaletowners want development at Emery Barnes Park Be quashed

Wednesday, May 7th, 2014

Bob Mackin
Van. Courier

A Yaletown citizens group has gone to court to challenge a controversial development that stems from a land swap near Emery Barnes Park.

Community Association of New Yaletown, a 1996-established society, filed a B.C. Supreme Court petition May 6 seeking a court order to quash the rezoning of 508 Helmcken St. and development permit for 1099 Richards St.

The petition, which names City of Vancouver and the Development Permit Board, claims the city failed to disclose documents prior to the July 16, 2013 public hearing and council received additional correspondence after the public hearing.

CANY alleges the public hearing violated the Vancouver Charter and principles of procedural fairness, because it received letters and email related to the rezoning until July 22, 2013. A day later, the Vision Vancouver majority voted to approve the application; NPA councillors George Affleck and Elizabeth Ball and Green Adriane Carr were opposed.

“The public must be afforded the opportunity to comment on all information and submissions made to council,” the petition said. “By receiving additional submissions after the close of the public hearing, the public was denied the opportunity to do so.”

A June 4, 2013 staff report said Brenhill Developments Ltd. proposed in 2011 to swap 1077-1099 Richards St. for the city-owned 508 Helmcken St. across the street. The latter is the 1985-built, 87-unit Jubilee House social housing project leased to 127 Society for Housing.

Brenhill agreed to build a new 162-unit, non-market housing building for 127 to operate on the Richards site, subject to the city rezoning 508 Helmcken for Brenhill to build a 36-storey tower with 338 residential market units and 110 secured market rental units. City council rubber-stamped the rezoning of 508 Helmcken on March 11.

Brenhill proposed spending $24 million on the $30.6 million New Jubilee House. The city would contribute the remaining $6.6 million from the sale of the Helmcken land.

The petition said a March 13, 2013 open house about 508 Helmcken was attended by 135 people, including CANY members, who were mostly opposed to the proposal. They were unhappy with  the height and scale of the proposed 36-storey building, the density, its impact on views and livability, and the lack of information about the social housing proposal.

The CANY petition said rezoning for 508 Helmcken was “dependent and inextricably linked to the proposed social housing development at 1099 Richards,” but the city “treated the two developments as separate and unrelated applications.” That meant the public was prevented from understanding the impact of the proposals on the neighbourhood, CANY claims.

“There was no presentation or discussion by staff and/or council regarding the proposed density or form of development at 1099 Richards at the July 16 public hearing, even though its redevelopment was a precondition of the rezoning of 508 Helmcken,” said the petition, filed by CANY lawyer Nathalie Baker.

“In addition, when members of the public who were opposed to the application tried to speak to or ask questions about the proposed development of 1099 Richards, staff and/or council advised that 1099 Richards was not before council at the public hearing,” said the court filing.

CANY lawyer, Nathalie Baker represented WEN Residents Society in its petition against City of Vancouver that aimed to overturn Vision Vancouver-enacted programs to stimulate development of rental apartment projects. The verdict from the April 9 and 10 hearings was reserved by Justice Susan Griffin.

© Vancouver Courier

Vancouver homeowners believe property values up nearly $270,000

Tuesday, May 6th, 2014

Emma Crawford Hampel
Other

Homeowners in Vancouver believe their property values have increased by an average of $269,000, according to a BMO poll released May 6.

Vancouver owners believe they could sell their properties at an average price of $698,000 for all home types. Over one-in-four owners believe the values of their homes has more than doubled since they bought them. This is the second-highest amount of all the major cities in the country, with Montreal in first place at 48%.

Province-wide, those who own their own homes expect to be able to sell them for an average of $342,000 – an increase of $201,000 over what they paid. This is the highest in the country, followed by Alberta at $261,000.

Across Canada, the average homeowner expects to sell their homes for $370,000, which represents an increase of $142,000 over what they paid. One-third believe their home values have more than doubled.

Copyright © Business In Vancouver

Projected demand for Vancouver’s Broadway subway sees 250,000 trips on first day

Tuesday, May 6th, 2014

Sunny Dhillon
Other

A subway along Vancouver’s Broadway corridor would have 250,000 trips on its first day, new data suggest – and Mayor Gregor Robertson says it further strengthens the case to build the line as soon as possible.

Mr. Robertson, who is nearing the end of his second term and seeking re-election in the fall, told members of the business community at a downtown hotel Tuesday that building the Broadway subway is his top priority and the single best thing the city can do for its future.

“We’ve seen extraordinary demand on the Broadway corridor,” he said. “… We need to get rapid transit through from Commercial and Broadway to the west.

“The corridor really is choked with cars and we’ll basically sacrifice our liveability and our economic future by not investing in that as soon as we possibly can.”

Mr. Robertson said the Broadway corridor is the second biggest jobs hub in B.C. and the busiest bus route in North America.

Previous data had suggested a Broadway subway could expect 125,000 trips on its first day – half of what Mr. Robertson said is now projected. He said the 250,000 subway trips would outpace the figures for either a new Massey Tunnel Bridge or the Port Mann Bridge. The mayor said building the subway would also cut the number of car trips along Broadway by 50,000, reducing congestion and improving air quality.

The new data were compiled by city staff, who analyzed information released by regional transportation provider TransLink.

The subway would stretch from Commercial and Broadway to the University of British Columbia. The university and city last year released a study, conducted by KPMG, that said rail-based rapid transit is necessary to meet the corridor’s anticipated population growth and economic potential.

Mr. Robertson said it would take at least five years to build the line. The funding, however, remains elusive.

B.C.’s Liberal government has said there will be a referendum that asks the public what funding sources they’re willing to support for transit improvements.

Mr. Robertson said transit referendums have about a 70-per-cent success rate. Voters in Washington State last month voted against a transit tax increase, prompting cuts.

Mr. Robertson said it’s unfortunate the province is going down the referendum path, adding that that it’s critical to let the public know how important transit investments are.

“People are going to pay more if we don’t invest in transit,” he said. “It’s actually more expensive to travel by car, and if you add a million people and you don’t build more transit then people are going to be in more traffic and spending more money.”

Mr. Robertson said Lower Mainland mayors will soon forward their 10-year transit plan to the province. Although he called the Broadway subway his top priority, he said transit upgrades are needed throughout the region. When asked if Vancouver should get the Broadway subway before Surrey gets its proposed light-rail transit network, Mr. Robertson said he sees a need for both.

“Our goal as mayors is to put together a cohesive plan for Metro Vancouver, and make sure that the whole region is served,” he said. “…We need to make sure that the transit system serves all of us.”

© Copyright 2014 The Globe and Mail Inc.

As vacation properties heat up, we look at top places to buy now in B.C.

Friday, May 2nd, 2014

Lifestyles that pay off

Frank O’Brien
Other

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Zen 62 townhomes at 6588 195A street Surrey by Zenterra

Friday, May 2nd, 2014

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Saint George at 5731 St. George Street 16 Townhouses by Silk Properties

Friday, May 2nd, 2014

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Emily Carr gets $7 million gift from Vancouver developer

Friday, May 2nd, 2014

Reliance Properties’ donation largest ever for an arts-only university in Canada

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The Emily Carr University of Art and Design is the lucky recipient of a $7 million donation from Vancouver real estate developer Reliance Properties, it was announced Friday.
The gift is the largest financial donation ever given to Emily Carr University, and is the single largest donation ever made to an arts-only university in Canada.
The donation will help build the Libby Leshgold Gallery and the Reliance Lecture Theatre at Emily Carr’s new campus at Great Northern Way, and will help launch the university’s capital campaign, called The Big Idea.
“This gift demonstrates our shared belief in the transformative power of creativity, and it signals an historic moment,” says Dr. Ron Burnett, President and Vice Chancellor of Emily Carr University. “The arts and industry are coming into alignment – we are collaborating precisely at this intersection – where creativity and business innovation meet in service of community, culture and economy.”
Both the Reliance Lecture Theatre and the Libby Leshgold Gallery will facilitate events, programs, and exhibitions that serve to enhance academic curriculum by facilitating collaborations from local, national, and international visionaries.
“Like Reliance Properties, Emily Carr is growing because they take a creative and transformative approach to building their legacy,” says Jon Stovell, President of Reliance Properties. “Both organizations accomplish big things that others their size might not because they courageously challenge themselves to think more creatively. It’s this emphasis on the value of creativity that sets this institution and their graduates apart.”
The Big Idea capital campaign, which was also launched Friday, will raise $25 million for Emily Carr University to build a new state-of-the-art campus for 21st century learning in art, design and media at Great Northern Way.

Copyright Vancouver Westender 2014