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Posted on
July 30, 2010
by
Hafez Panju
The Simon Fraser University Community Trust has cleared its last hurdle to doubling the size of its Burnaby Mountain-top community with zoning approval for Phase 3 of its UniverCity project.
Burnaby city council on Monday, approved a zoning bylaw for a massive expansion of the high-density urban community that will see up to 1,250 new units of housing built including one 20-storey tower perched near the mountain's peak with commanding views of Metro Vancouver.
"We expect absorption of these lots to take eight to 10 years," Gordon Harris, CEO of the trust, said in an interview. "The...
Posted on
July 29, 2010
by
Hafez Panju
Port Development announced today that its Origin sales center will be opening in just “a few short weeks”. In speaking with the sales team they anticipate that around the 3rd week of August they will have their sales center and presentation suite ready to unveil to the public. This is an exciting development for the SFU UniverCity area. This will mark the first new condo development project in 2 years atop Burnaby Mountain. Origin will also be one of the first of its kind in North America as it will adhere to some of the most stringent sustainability regulations to date. This has been largely driven...
Posted on
July 28, 2010
by
Hafez Panju
The Bank of Canada increased the target for its trend-setting overnight lending rate on July 20, 2010, raising it by a quarter of a percentage point to 0.75 per cent. The increase follows on the heels of an equal interest rate increase in June 2010, when it was raised for the first time since 2007. The Bank rate now stands at one per cent.
In its most recent interest rate announcement, the Bank marked down its outlook for economic growth globally, emphasizing the uneven economic recovery in the U.S., and weakening prospects for European economic growth.
In the Bank’s view, Canada’s...
Posted on
July 15, 2010
by
Hafez Panju
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 23 per cent to 7,722 units in June compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 5 per cent in June from May 2010. The average MLS® residential price climbed 8 per cent to $499,908 in June compared to the same month last year.
"Market conditions have shifted from balanced conditions at the start of the year to a buyers’ market this summer," said Cameron Muir, BCREA Chief Economist....
Posted on
July 5, 2010
by
Hafez Panju
The Greater Vancouver housing market experienced steady activity to begin the summer season. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,972 in June 2010, a decline of 30.2 per cent compared to the 4,259 sales in June 2009, which was the second highest selling June on record.
“Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” Jake Moldowan, REBGV president said. Compared...
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
