Vancouver General Discussion Thread - Page 31

SpongeG · #**601** Posted **Aug 16, 2017, 3:33 AM**

WHY SEATTLE BUILDS APARTMENTS, BUT VANCOUVER, BC, BUILDS CONDOS

Why all those high rises are apartments.

Author: Margaret Morales
On August 14, 2017 at 6:30 am

When it comes to condominium development, Cascadia’s two largest cities couldn’t be more different. Last year nearly 60 percent of new housing starts in the city of Vancouver, BC, were condominiums; meanwhile, Seattle saw no new condominium buildings open. And that’s not changing anytime soon: less than 10 percent of all building slated for downtown Seattle in the next three years will be condos. What’s the difference—why the blossoming of condominium construction in one city and the almost complete dearth in the other?

The short answer is economics. In Vancouver, apartments are saddled with an unfavorable tax code, making condos the more lucrative multi-family housing investment even despite high rental demand. In Seattle’s skyrocketing rental market, one that’s climbed even faster than the condo market in recent years, apartment buildings are much more financially attractive, while condos come with bigger risks and, typically, lower returns. Compounding this profit difference is the fact that Seattle condominiums have to comply with quality assurance standards more demanding than those for any other type of home in Washington. As a result, condo projects require additional insurance coverage, which makes development more expensive. It’s unclear how much this additional insurance adds to project pricing, and how much of Seattle’s slow condo market is simply due to the competitiveness of apartments.

...

http://www.sightline.org/2017/08/14/why-seattle-builds-apartments-but-vancouver-bc-builds-condos/

SpongeG · #**602** Posted **Aug 16, 2017, 3:35 AM**

Vancouver potential host city at FIFA 2026 World Cup

Seven Canadian cities considered to be part of joint effort with U.S., Mexico
By Glen Korstrom | Aug. 15, 2017, 10:39 a.m.

Vancouver is one of the cities that is vying to host games as part of the FIFA 2026 World Cup bid, according to the United Bid committee, which is coordinating a bid to host the world’s biggest sporting event in Canada, the U.S. and Mexico.

Seven Canadian cities are included on the United Bid committee’s list of 44 potential host cities, which it released August 15. Other cities include Calgary, Edmonton, Montreal, Ottawa, Regina and Toronto.

While Vancouver's bid would only be for games at BC Place Stadium, Toronto and Montreal may have games at two stadiums each. In Montreal, that would be Olympic Stadium and Saputo Stadium while in Toronto, games could be held in Rogers Centre or at BMO Field.

Montreal's Olympic Stadium, with capacity for 61,004 people, is the largest of the Canadian stadia.

The bid also includes 34 U.S. cities and three Mexican cities.

...

https://www.biv.com/article/2017/8/vancouver-potential-host-city-fifa-2026-world-cup/

Vin · #**603** Posted **Aug 16, 2017, 7:41 PM**

REMEMBER WE WERE ALWAYS #1 IN MANY CONSECUTIVE YEARS?

No longer so....and that was a distant memory:

https://ca.finance.yahoo.com/photos/best...e-retained-top-spot-photo-094946427.html

Still good at #3 but no longer on top, even though we are blessed with the ocean and mountains. Pretty sure we are losing out by how we plan, build and manage our city.

PaperTiger · #**604** Posted **Aug 16, 2017, 8:21 PM**

Quote:

Originally Posted by Vin

REMEMBER WE WERE ALWAYS #1 IN MANY CONSECUTIVE YEARS?

No longer so....and that was a distant memory:

https://ca.finance.yahoo.com/photos/best...e-retained-top-spot-photo-094946427.html

Still good at #3 but no longer on top, even though we are blessed with the ocean and mountains. Pretty sure we are losing out by how we plan, build and manage our city.

"...the top three cities within 0.02 points of each other." The sky sure is falling...

whatnext · #**605** Posted **Aug 16, 2017, 10:24 PM**

Quote:

Originally Posted by SpongeG

WHY SEATTLE BUILDS APARTMENTS, BUT VANCOUVER, BC, BUILDS CONDOS

Why all those high rises are apartments.

Author: Margaret Morales
On August 14, 2017 at 6:30 am

When it comes to condominium development, Cascadia’s two largest cities couldn’t be more different. Last year nearly 60 percent of new housing starts in the city of Vancouver, BC, were condominiums; meanwhile, Seattle saw no new condominium buildings open. And that’s not changing anytime soon: less than 10 percent of all building slated for downtown Seattle in the next three years will be condos. What’s the difference—why the blossoming of condominium construction in one city and the almost complete dearth in the other?

The short answer is economics. In Vancouver, apartments are saddled with an unfavorable tax code, making condos the more lucrative multi-family housing investment even despite high rental demand. In Seattle’s skyrocketing rental market, one that’s climbed even faster than the condo market in recent years, apartment buildings are much more financially attractive, while condos come with bigger risks and, typically, lower returns. Compounding this profit difference is the fact that Seattle condominiums have to comply with quality assurance standards more demanding than those for any other type of home in Washington. As a result, condo projects require additional insurance coverage, which makes development more expensive. It’s unclear how much this additional insurance adds to project pricing, and how much of Seattle’s slow condo market is simply due to the competitiveness of apartments.

...

http://www.sightline.org/2017/08/14/why-seattle-builds-apartments-but-vancouver-bc-builds-condos/

Trudeau and Horgan should be looking at this to make building apartments more attractive than condos. There's no reason everyone needs to own a place to live in. Basically all the risks are being transferred onto buyers already overextending themselves.

LeftCoaster · #**606** Posted **Aug 16, 2017, 11:00 PM**

Quote:

Originally Posted by PaperTiger

"...the top three cities within 0.02 points of each other." The sky sure is falling...

We'd be first by a long shot if we had another mall downtown...

red-paladin · #**607** Posted **Aug 17, 2017, 5:38 AM**

Quote:

Originally Posted by LeftCoaster

We'd be first by a long shot if we had another mall downtown...

WarrenC12 · #**608** Posted **Aug 17, 2017, 3:37 PM**

Quote:

Originally Posted by Vin

REMEMBER WE WERE ALWAYS #1 IN MANY CONSECUTIVE YEARS?

No longer so....and that was a distant memory:

https://ca.finance.yahoo.com/photos/best...e-retained-top-spot-photo-094946427.html

Still good at #3 but no longer on top, even though we are blessed with the ocean and mountains. Pretty sure we are losing out by how we plan, build and manage our city.

Beat by Melbourne and Vienna.... widely regarded for their malls, supertall buildings, lack of bike lanes, and massive tunnels and bridges.

csbvan · #**609** Posted **Aug 17, 2017, 3:49 PM**

Quote:

Originally Posted by WarrenC12

Beat by Melbourne and Vienna.... widely regarded for their malls, supertall buildings, lack of bike lanes, and massive tunnels and bridges.

As the saying goes: "Vienna, the Dubai of Europe".

VarBreStr18 · #**610** Posted **Aug 20, 2017, 12:59 AM**

judging from the turn out and the sentiment in front of City Hall today, no doubt in my mind why Vancouver is the third most livable city in the world! Hatred , bigotry .... does not belong in Vancouver. Lets make Vancouver "greater".

mcminsen · #**611** Posted **Aug 20, 2017, 8:27 AM**

I think it was a proud day for Vancouver. City Hall was thronged with counter protesters. I heard on the news that the police estimated about 4,000 people showed up. Perhaps only a couple dozen alt-right/white supremacist/anti muslim protesters.

I got there a bit late, about 3:00 PM and I think a lot of the crowd had already gone. There was every kind of Canadian there you could imagine.

Aug.19 '17, my pics

WarrenC12 · #**612** Posted **Aug 20, 2017, 8:42 PM**

Great job Vancouver!

The turnout in Boston had a really great "ratio" as well. It's clear these racists are an extreme minority, thankfully. They are just enabled by the big racist in the white house.

csbvan · #**613** Posted **Aug 20, 2017, 8:46 PM**

Such great news! I'm proud that Vancouver took a potential negative and flipped it into such a positive!

Klazu · #**614** Posted **Aug 21, 2017, 12:42 AM**

Was this protest because of the 3 terror attacks in Europe on Friday or what? Sorry, I am out of loop here.

memememe76 · #**615** Posted **Aug 21, 2017, 12:48 AM**

I attended yesterday too, around 1pm. I felt it was way more people than the report 4 ot 5 thousand people. Anyways, not that I blame the planners of the rally, but City Hall isn't a great place for these large scale public events. There is a reason why the Art Gallery and Jack Poole Plaza tend to be residents' go to sites. Regardless, a wonderful event. Vancouver at its best, imo.

SpongeG · #**616** Posted **Aug 21, 2017, 5:33 AM**

Quote:

Originally Posted by Klazu

Was this protest because of the 3 terror attacks in Europe on Friday or what? Sorry, I am out of loop here.

no

an anti-muslim group planned a protest weeks ago and word spread about it and charlottseville etc happened sometime in the middle of the timeline i guess you could say and people planned to show up to protest the protest

SpongeG · #**617** Posted **Aug 21, 2017, 5:34 AM**

Quote:

Originally Posted by memememe76

I attended yesterday too, around 1pm. I felt it was way more people than the report 4 ot 5 thousand people. Anyways, not that I blame the planners of the rally, but City Hall isn't a great place for these large scale public events. There is a reason why the Art Gallery and Jack Poole Plaza tend to be residents' go to sites. Regardless, a wonderful event. Vancouver at its best, imo.

the planners of the rally were an anti-muslim group

Klazu · #**618** Posted **Aug 22, 2017, 1:55 AM**

Oh, okay. With all these constant rallies and protests blasted by the news and social media, I am having a protest-fatigue. I have completely lost track of if we are today supposed to be upset about too much or too little free speech, the new normal in Europe, alt-left/right violence, Trump, Hillary, Seth Rich, Mugabe or Harambe...

This must be what the summer of '67 was like, times hundred?

Vin · #**619** Posted **Aug 22, 2017, 6:22 AM**

Quote:

Originally Posted by WarrenC12

Beat by Melbourne and Vienna.... widely regarded for their malls, supertall buildings, lack of bike lanes, and massive tunnels and bridges.

Yup, keep staying in the little corner of OV and hope that one day it will magically turn into a Vienna. Let's look forward to seeing a lot more container homes being built in that neighbourhood.

Vienna is.a very old city where past generations would dare take big steps forward to make what the city is today. Melbourne being a very new city is known for its tall towers, and the fact that they embrace new ideas like having a huge casino and new malls in the city centre, creating new attractions for locals and visitors alike . Both cities invest aggressively on transportation infrastructure. One is a city with its enormous wealth of culture but with a contemporary mindset, while the other is a modern city that can keep redefining itself by being open minded. That's why they are beating Vancouver time and again while our traffic congestions, drug problems and homelessness become worse because of people who think that viaducts, malls and tall buildings are evil.

Vin · #**620** Posted **Aug 22, 2017, 6:43 AM**

Quote:

Originally Posted by LeftCoaster

We'd be first by a long shot if we had another mall downtown...

Nope we won't be getting a new mall in downtown Vancouver, but new city centers like Brentwood and Lougheed will be. I'm sure their quality of living will start going downhill as a result. The really tall towers built over there will also seal their fate of rapidly declining into unliveable ghettos. We should all move to Vancouver's famed downtown Eastside instead.