The Vancouver Business Thread

[jollyburger]

“The city is doing a city-wide review of the industrial uses in the city,” said Matt Meehan, a senior vice-president of development at Concord Pacific. “Basically, our site is not open for putting rezoning applications in until they finish that report. So in the interim, we’re looking at things like (renting it to) the tech industry, the film industry. There has been some interest in the building, which is kind of unique once you get inside. But we haven’t got anything signed up yet.”

https://vancouversun.com/news/local-news/time-stands-still-for-clock-at-the-old-molson-brewery

[LeftCoaster]

Originally Posted by jollyburger

https://vancouversun.com/news/local-news/time-stands-still-for-clock-at-the-old-molson-brewery

There will be a compromise giving Concord the mixed use zoning they need to make this project commercially viable while still maintaining industrial and employment lands for the City.

It's the right thing to do for the site too, it's a great location for residential at the mouth of false creek, but the city can't afford to lose more industrial/employment lands, so a healthy mix would be great here.

Hopefully the City learns their lesson with Concord and gets the commercial/industrial up front though.

[djh]

Originally Posted by LeftCoaster

There will be a compromise giving Concord the mixed use zoning they need to make this project commercially viable while still maintaining industrial and employment lands for the City.

It's the right thing to do for the site too, it's a great location for residential at the mouth of false creek, but the city can't afford to lose more industrial/employment lands, so a healthy mix would be great here.

Hopefully the City learns their lesson with Concord and gets the commercial/industrial up front though.

The smartest (and most righteous) choice would be to sell/donate/long-term lease this land back to the indigenous tribes from that area.

There's a big Squamish Nation development project being master planned right next to the Molson building (see the article and map here). It would totally make sense to combine the two and increase the scale of the project.
But I agree, don't remove all of the light industrial zoning for the land, make it mixed use.

[cairnstone]

Originally Posted by djh

The smartest (and most righteous) choice would be to sell/donate/long-term lease this land back to the indigenous tribes from that area.

There's a big Squamish Nation development project being master planned right next to the Molson building (see the article and map here). It would totally make sense to combine the two and increase the scale of the project.
But I agree, don't remove all of the light industrial zoning for the land, make it mixed use.

there is no positive outcome by including it into the master planned ghetto being developed next door. CP bought the land know that it had to stay industrial and the land was sold as such. The city still has a few outstanding promises from CP that have yet to be filled.

[jollyburger]

Originally Posted by cairnstone

CP bought the land know that it had to stay industrial and the land was sold as such. The city still has a few outstanding promises from CP that have yet to be filled.

That's why there's a thing called rezoning.

[Migrant_Coconut]

And this is hardly the definition of a ghetto. The two projects should be integrated for better compatibility.

Don't suppose this is enough of an argument for a Vanier streetcar spur?

[cairnstone]

Originally Posted by Migrant_Coconut

And this is hardly the definition of a ghetto. The two projects should be integrated for better compatibility.

Don't suppose this is enough of an argument for a Vanier streetcar spur?

This is where we will differ, history usually repeats itself so and I see in 50 years a ghetto forming as the owner has little interest in maintaining AAA rental building especially when they could have there hands tied by the state to supply low end rental or rents freezed do to affordablity. This is what when wrong in the inner city USA. The term project is the old word for master planned. These "projects" were amazing places when new but upkeep on rentals etc are a huge drain and having rent control caused them to go into decay.

Loook at the condition of some of the strata projects built in the 70s alot of the units are now rental and no one wants to pay to keep the building in the shape it needs to be. When a building is 50 year old they need to be renovated as that is the life of woodframe

[cairnstone]

Originally Posted by jollyburger

That's why there's a thing called rezoning.

Yes true and Molson's would have sold it as such and realized additional money. There was a lot of media about this at time and the city wants to keep this industrial of some sort as the city has lost so much in the last 30 years

[jollyburger]

Originally Posted by cairnstone

Yes true and Molson's would have sold it as such and realized additional money. There was a lot of media about this at time and the city wants to keep this industrial of some sort as the city has lost so much in the last 30 years

They sold it for close to $200 million dollars. That assumes some mixed-use development in the pricing. Concord takes on the risk of it not getting rezoned and Molson doesn't have to sit and wait around to have it rezoned before selling it.

[Migrant_Coconut]

Originally Posted by cairnstone

Loook at the condition of some of the strata projects built in the 70s alot of the units are now rental and no one wants to pay to keep the building in the shape it needs to be. When a building is 50 year old they need to be renovated as that is the life of woodframe

Good thing few apartments are woodframe anymore - it's all steel, reinforced concrete and/or timberframe.

Originally Posted by cairnstone

This is where we will differ, history usually repeats itself so and I see in 50 years a ghetto forming as the owner has little interest in maintaining AAA rental building especially when they could have there hands tied by the state to supply low end rental or rents freezed do to affordablity. This is what when wrong in the inner city USA. The term project is the old word for master planned. These "projects" were amazing places when new but upkeep on rentals etc are a huge drain and having rent control caused them to go into decay.

Even if it weren't a colossal leap of logic to extrapolate "Queensbridge" from "affordable housing" (the Squamish have never even hinted at such a thing; Vancouver's "affordable" is mostly market-rates, MIRHHPs and co-ops, none of which need federal aid), the possible threat of government intervention isn't scaring off developers at all. Quality rental construction is booming right now.

[cairnstone]

Originally Posted by Migrant_Coconut

Good thing few apartments are woodframe anymore - it's all steel, reinforced concrete and/or timberframe.

Wow so wrong my friend. Concrete also goes throught the same 50 year life cycle and just costs more to rehab. And please point out these steel buildings you talk about. And mass timber is still a dream and just a trendy buzz word for government and select organizations.

Majority of the projects being built are typical 2x framing, concrete is used on premium buildings.


Even if it weren't a colossal leap of logic to extrapolate "Queensbridge" from "affordable housing" (the Squamish have never even hinted at such a thing; Vancouver's "affordable" is mostly market-rates, MIRHHPs and co-ops, none of which need federal aid), the possible threat of government intervention isn't scaring off developers at all. Quality rental construction is booming right now.

CO-OP's are federal Aid and Squamish band has no history as landlords. And they properties will change hands several times as input costs are needed. You see it everywhere. Example Metcalf bought Lougheed towers cheap as they needed work that was not getting done. They put some money into it for cosmetic work but leave out all the leaky windows. But now they can squeeze in 2 more towers and remove all the par kspace around them. Still a 50 year old rental building that attracts more and more degenerates

[Migrant_Coconut]

Originally Posted by cairnstone

Wow so wrong my friend. Concrete also goes throught the same 50 year life cycle and just costs more to rehab. And please point out these steel buildings you talk about. And mass timber is still a dream and just a trendy buzz word for government and select organizations.

You said woodframe, I observed that not many multistoreys are woodframe anymore. 50-year life cycle or not, new rentals are getting built as we speak, and they at least have more of a chance than Oakridge does right now.

Ever heard of an I-beam? Steel frame construction is hardly a new concept. As for timber frame, Tallwood House, MEC Olympic Village, 25 King and Mjøstårnet are hardly buzz words.

Originally Posted by cairnstone

CO-OP's are federal Aid and Squamish band has no history as landlords. And they properties will change hands several times as input costs are needed. You see it everywhere. Example Metcalf bought Lougheed towers cheap as they needed work that was not getting done. They put some money into it for cosmetic work but leave out all the leaky windows. But now they can squeeze in 2 more towers and remove all the par kspace around them. Still a 50 year old rental building that attracts more and more degenerates

It's a mix of all three levels of government, but fair enough. Yet the Squamish band has no history of approving highrises on their territory either... nor does Vancouver build 10+ storey co-ops. "Metcalf" and "Lougheed" yield absolutely no results, so I'll assume that you're talking about yet another victim of the Leaky Condo Crisis, which is nowhere near exclusive to lower incomes or rentals.

[Tetsuo]

I think Cairnstone is referencing Lougheed Village

https://dailyhive.com/vancouver/lougheed-village-burnaby-rental-housing

[Migrant_Coconut]

Thanks. If so, I fail to see what park space is being lost, or why Lougheed Village or the Burrard parcel are any different from other redevelopments. I don't see anybody calling the Langara Gardens remake a "ghetto."

[cairnstone]

Originally Posted by Migrant_Coconut

You said woodframe, I observed that not many multistoreys are woodframe anymore. 50-year life cycle or not, new rentals are getting built as we speak, and they at least have more of a chance than Oakridge does right now.

Ever heard of an I-beam? Steel frame construction is hardly a new concept. As for timber frame, Tallwood House, MEC Olympic Village, 25 King and Mjøstårnet are hardly buzz words.



It's a mix of all three levels of government, but fair enough. Yet the Squamish band has no history of approving highrises on their territory either... nor does Vancouver build 10+ storey co-ops. "Metcalf" and "Lougheed" yield absolutely no results, so I'll assume that you're talking about yet another victim of the Leaky Condo Crisis, which is nowhere near exclusive to lower incomes or rentals.

As far as I know there are no steel buildings for rental or market in Vancouver, and as you pointed out no mass timber buildings either yet. UBC residence, Government Building in Prince George and MEC are , unless you count timber buildings that are SRO's.

Current purpose built rental is typically wood frame 6 stories and below. In planned developments like Brewery they are a dedicated tower. But in the river district they were 2x construction.

The River district CO-OP is also wood Frame.

And yes we do build CO-OP Mid rises and they are concrete.


The leaky Condo event was way more than leaky condos. Some proactive buildings have decided to be progressive and upgraded buildings as they age. Unless you are behind the blue debris screen it all looks like a leaky condo.

Show me a structure that is over 50 years old that does not need a major rehab to keep the buildings in a premium rental condition.

[Migrant_Coconut]

Point being that there's other materials beside wood that can and are being used; the six-storeys near my place are mostly concrete.

Originally Posted by cairnstone

The leaky Condo event was way more than leaky condos. Some proactive buildings have decided to be progressive and upgraded buildings as they age. Unless you are behind the blue debris screen it all looks like a leaky condo.

Show me a structure that is over 50 years old that does not need a major rehab to keep the buildings in a premium rental condition.

Makes sense.

Did I say or imply that? What I have said is that developers are forging ahead with more and bigger rentals in spite of the long-term costs. If the Burrard Bridge territory is destined to be a slum, so is much of Vancouver.

[SpongeG]

I watch a lot of youtubers and all the design/decor ones are buying or being gifted furniture from article. They must spend their advertising budget that way, smart.

Article Ranks No. 1 on the 2019 Growth 500 for Second Consecutive Year

NEWS PROVIDED BY
Article
Sep 12, 2019

VANCOUVER, Sept. 12, 2019 /CNW/ - Article ranked No. 1 on the annual Growth 500, the definitive ranking of Canada's Fastest-Growing Companies, for a second consecutive year. The back-to-back No. 1 placements demonstrate the company's ability to continue to win new customers with their innovative approach to the furniture industry. The online furniture and home decor brand topped the annual ranking with five-year revenue growth of 24,182%.

...

To help facilitate the next phase of growth, Article also announced the Canadian expansion of its in-house delivery program, Article Delivery Team, in Vancouver. Drawing on the successful results from teams in New York and Los Angeles in early 2019, the program uses customer feedback to rapidly iterate the final-mile experience. Unlike third-party partners, Article's own delivery team can solve common customer inquiries on the spot like rescheduling delivery appointments or shipping alternate product sizes or colours. In the Vancouver pilot, delivery times reduced by 2.5 days compared to outsourced delivery partners and the incidence of negative feedback decreased almost four-fold.

...

https://www.newswire.ca/news-releases/ar...r-second-consecutive-year-835237601.html

[Metro-One]

So just read that Hammond Cedar in Maple Ridge is closing down permanently on October 25th.

I actually worked there for a couple years part time while going to university. Actually paid us students 25 dollars an hour.

At the time it was touted as the world’s largest cedar mill. It was also one of the world’s most technologically advanced mills when it opened (the current mill, that site has actually been a mill for a century).

200 jobs lost. While not gigantic, these are all high wage working jobs and it is a massive symbolic loss for the forest industry.

[SpongeG]

Vancouver startup Tradle rents clothes as baby grows

Vancouver startup Tradle will offer 10- or 20-item bundles of new or gently used clothes for newborns to two-year-olds

CHERYL CHAN Updated: October 15, 2019


Blyth Gill & Hailey Whitt are the leads behind Vancouver startup Tradle, which is a baby-clothing rental service. FRANCIS GEORGIAN / PNG

A new baby-clothing rental business launching in Metro Vancouver is being billed as a zero-waste solution to dressing fast-growing babies and toddlers.

Vancouver startup Tradle will offer 10- or 20-item bundles of new or gently used clothes for newborns to two-year-olds.

Parents can subscribe to the service for $90 a month, then use the clothes as usual, returning them once their child has outgrown them, at which point they will be rented out to another family. The company allows for unlimited exchanges to accommodate growth spurts or changing seasons.

“There’s zero pressure,” said Blyth Gill, one of Tradle’s co-founders. “Some kids grow like weeds, some take a little longer. There’s no one-size-fits-all, so we want to be accommodating to the children’s needs and the parents’ needs as well. Parents have enough things to worry about. We want to bring peace of mind.”

Gill was inspired by a similar subscription service in Denmark founded in 2014 by Vigga Svensson. Gill believes Vancouver is ready for such a business.

“I’m optimistic Vancouver is the place to launch,” he said. “The community is so forward-thinking and receptive to this type of environmental, sustainable solution.”

...

https://vancouversun.com/news/local-news/vancouver-startup-tradle-rents-clothes-as-baby-grows

[supercanuck]

Originally Posted by SpongeG

Vancouver startup Tradle rents clothes as baby grows

Vancouver startup Tradle will offer 10- or 20-item bundles of new or gently used clothes for newborns to two-year-olds

https://vancouversun.com/news/local-news/vancouver-startup-tradle-rents-clothes-as-baby-grows

Hmmm...I'm a bit skeptical of their business model. Maybe I'm just cheap, but $90/month for 3 years (0-2 years old) is $3,240. I don't think I spent anywhere near that much money on my kids clothes for those ages. Onesies and such can be had at Walmart/Superstore for quite reasonable prices.