Major Construction Projects Slated For Completion In 2016

Major Construction Projects Slated for Completion in 2016

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.

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3681 Sunset Lane: A West Vancouver Architectural Masterpiece

3681 Sunset Lane Driveway

Price: $14,888,000 (April 30, 2015)

Address: 3681 Sunset Lane, West Vancouver

Listed byAngell Hasman & Associates Realty Ltd.

The Sunset house by Mcleod Bovell Design, recipients of the Arthur Erickson Memorial Award, is a newly constructed 6,428 square foot house that fronts a steep, rocky terrain, with south facing views reaching as far as Lions Gate Bridge and private views to the west. With a dynamic urban setting, the residence maintains a village/neighborhood feel that conforms to the Sunset Lane environment. The home’s uniqueness is characterized in how the architects managed to compose the structure around challenging topography.

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What Value to Expect When Renovating a Home

What Value in Renovations

“Value”, in the context of real estate, can be a nebulous term. An insulated opinion is often formed as to what features or renovations contribute to the overall worth of a home. A better suited definition should thus be specified as “market value”, based on objective observation of the collective actions of the market.

Understanding the concepts of conformity and effective age can result in a greater net effect of money saved from spending on inessential renovations, as opposed to over-improving your property in hopes of reaping some benefit. The economic concept of value is not inherent in the commodity, good, or service to which it is ascribed; it is created in the minds of the individuals who make up the market.

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Major Construction Projects Slated For Completion In 2015

Major Construction Projects BC

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, both proposed and underway, is $344 billion. The sharp increase of total inventory is mainly due to a number of LNG (Liquified Natural Gas) proposals. The projects currently under construction are valued at $83 billion, up from $63 billion in 2011, with the residential sector accounting for roughly $35 billion.

While there are still a number of exciting new developments set to alter 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 2015, 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 dataset excludes projects below this threshold, and therefore is not reflective of all investment spending.

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City of Surrey’s LRT Funding Takes Step Forward

Surrey Light Rail Transit

The region’s next great metropolitan centre is in the midst of securing funding for its Light Rail Transit system, and has taken a leap forward with its application to the P3 Canada Fund, being granted a “screened in” status. The P3 screen is applied to projects with capital costs of more than $100 million, for funding under the new Building Canada Fund. The City expects to welcome nearly 300,000 new residents over the next 30 years, and implementation of a new transit system is necessary to support sustainable growth and a strong economy.

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Powell Street Overpass

Powell Street Overpass

As a resident living in Vancouver’s downtown peninsula, vehicle traffic can be the bane of one’s existence. Traveling in and out of the city on a daily basis requires navigating a congested maze replete with an obstacle course of traffic calming devices, cyclists, and spaced out pedestrians oblivious to the fact that their frail corpses are no match for a hunk of metal careening down the street.

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Top 10 Building Architecture in Vancouver

Top 10 Building Architecture Vancouver

Times, they are a changin’. Vancouver building permit values are at an all time high, and developers are introducing some of the most radical architecture this city has ever seen. As much as Vancouver is a well planned, clean city, it has a reputation for a relatively uninspiring skyline with all too common turquoise glass facades. A wave of new structures are pushing the boundaries, and altering Vancouver’s architectural identity. Resider takes a look at a few of the most eye-catching buildings in and around Vancouver.

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One Step Closer

Toronto Real Estate Board Appeal

The battle for greater transparency with Canadian residential real estate has inched closer to victory. On Thursday, the Supreme Court in Ottawa denied an appeal by TREB, Canada’s largest real estate board representing 39,000 realtors, of a case that would allow consumers and brokers wider access to guarded real estate data.

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City of Vancouver Building Permit Values Soar to Highest Amount Since Pre-Recession Levels at $1.12 Billion

Vancouver-Building-Permits-Reach-Highest-Levels

“Low taxes, a highly-skilled work force, and reduced red tape at City Hall are helping us achieve the highest levels in building permit values since before the recession, including the construction of significant new rental housing,” – Mayor Robertson.

Vancouver is in the midst of a building boom. The City reports it is the 3rd year in a row that building permit values have exceeded a billion dollars in the first half of the year. The first half of 2014 recorded $1.12 billion in building permits, the highest amount since pre-recession levels. Here are the values of permits issued over the last 6 years:

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Nickelback Frontman’s Former Abbotsford Home for Sale

Nickelback Home For Sale 30709 Burgess Ave

Worry not, there will be no Nickelback audio clips contained in this post. As it turns out, producing music people love to bash can land you a pretty sweet mansion. In true Canadian fashion, this one even comes with an indoor hockey rink. 30709 Burgess Ave in Abbotsford is the former home of Nickelback lead singer Chad Kroeger, and is currently listed by its subsequent owner for $8,980,000 after only one year, likely due to the halls being haunted by Nickelback music. Alright, enough with the Nickelback jokes, because this mansion is what dreams are made of.

Built circa 1990, the 6 bedroom, 8 bathroom home offers over 20,000 square feet of living space, with features you might never even use, or forget about after you move in, like the 4 birthing stalls in the “Deluxe Hip Roof Barn”. Other features include a movie theatre, indoor pool, outdoor waterfall pool, video security system, 200 kilowatt generator, covered parking for up to 10 cars, and more.

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