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Vancouver's city Council rejected the staff report which proposed four sites in Downtown Vancouver be redeveloped into condo buildings over 40 storeys. Instead they will allow two fifteen storey buildings in the Victory Square neighbourhood and some others in Chinatown South.

City Council passed a moratorium on all but one third of the Downtown Peninsula (east to Cabie Street Bridge) in 2009.

The one third that will be permitted to have new condo projects must be mixed use.

What will be the long term effect on cost of Downtown condos? Prices will rise and housing will be less affordable. The new buildings would have obstructed the view corridors of surrounding buildings.

Did Council make the right or wrong decision?

Buying or selling Vancouver real estate? Put my hyper-local experience to work for you!

Call Maggie Chandler 604-328-0077

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