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.