Vancouver view cone review

[GenWhy?]

Originally Posted by Vin

You will be forced to sell lower if all your competitors can sell lower than you. Might as well pack up and leave the development business if you insist on selling at "market value".

If the market price drops, that is the new market price. That's why we're waiting on the sidelines right now for condo projects so we can sell at a price that covers costs. In fact getting rid of the lower QE viewcone has allowed a fiends condo project to exits at all. I'll be keeping an eye on what they market for.

[s211]

Originally Posted by jollyburger

96 replies = "mountain of rage" The deluded world of thinking in your little echo chamber.

Also, the media is running with THE most over-used phrase in its headlines: OUTRAGE...

[Vin]

Originally Posted by GenWhy?

If the market price drops, that is the new market price. That's why we're waiting on the sidelines right now for condo projects so we can sell at a price that covers costs. In fact getting rid of the lower QE viewcone has allowed a fiends condo project to exits at all. I'll be keeping an eye on what they market for.

Our "market value" is artificially inflated with the limited developable lands and municipal height, zoning and other restrictions. Hence, with all these removed, competition can actually lower prices. Viewcones is one major obstacle.

However, like I said before, we missed the best time to build more, while suburb cities have been more successful in doing this. Construction costs post-Covid, mortgage rates and the dwindling economy make it harder now.

[Jimbo604]

Greystar Proposes Rental Towers After Buying Science World McDonald's For $80M
https://storeys.com/greystar-1527-ma...eet-vancouver/

For 1527 Main Street in Vancouver, Greystar is proposing a 22-storey and 18-storey rental tower with a total of 371 units.
By Howard Chai September 17, 2024 04:45 PM

"Less than a year after making the high-profile purchase, international real estate development and management firm Greystar Real Estate Partners has submitted its rezoning application to the City of Vancouver, which the City published on Monday.

The subject site of the proposal is 1527 Main Street in Vancouver, which is currently occupied by a standalone McDonald's and its surface parking lot about a block away from the Expo Line SkyTrain's Main Street-Science World Station. ...

Of note, Greystar says its proposal is in part made possible by the recent revisions and eliminations of certain view cones.

"The modernization of Main Street View Cone (22) and elimination of Queen Elizabeth Park View Cone (3.2.4A) allows the 22-story tower to be located on the eastern portion of the site, without impeding any protected views," the rezoning application notes."

Sounds like reigning in view cones is paying dividends.

[GenWhy?]

I think it gave them an extra 6-storeys for the eastern side of the site

[WarrenC12]

Would viewcones really limit things at this level? We're not talking about 40 stories here, just ~20 ish. How much taller will this be compared to Central and the VanCity building?

[jollyburger]

Originally Posted by WarrenC12

Would viewcones really limit things at this level? We're not talking about 40 stories here, just ~20 ish. How much taller will this be compared to Central and the VanCity building?

They raised the viewcone to the top of the tallest CityGate tower. I think Central is 22-storeys and 195 ft? So similar to the 18/22 storey towers (200-239 feet) in this development.

You can see the cutout on Central where it faces Main Street which is slightly lower than the rest of the floating box because of the old viewcone.

https://council.vancouver.ca/20040325/ph5.htm

[GenWhy?]

Originally Posted by jollyburger

Vancity can be slightly taller because it's farther from the viewcone.

Looks like the old viewcone was to the east of the Vancity tower. The Plan said you can do 21-storeys just across the street to the south of Vancity. So 22 storeys isn't crazy.

The change was to the eastern portion of the macdonalds site