In British Columbia, a major construction project is one that typically has over $15 million in capital costs, or $20 million in the Lower Mainland-Vancouver area. As it stands, the total value of all major capital projects proposed is $350.1 billion (June 2015). The projects currently under construction are valued at $72.3 billion, down from $81.7 billion reported in the first quarter of 2015.
While there are still a number of exciting new developments altering the architectural landscape in Vancouver in the coming years, buyers interested in new construction homes will have a wide array of options to choose from in 2016, as major projects throughout the province near completion. The data below summarizes the investment activity in BC for all major residential projects slated for completion this year with estimated capital costs in excess of $15 million. The residential dataset is obtained from The Province of British Columbia, and excludes projects below this threshold, therefore is not reflective of all investment spending.