Sherman Scott

Leasing & Investment Broker I Retail Properties at @colliersintl. Vancouver. Opinions here are my own. #CRE @collierscanada #Vancouver

[Vancouver Market @vancouvermrkt]

Market strata townhouse proposal that conforms with OCP rejected by District of North Van council.

[Vancouver Market @vancouvermrkt]

In Metro Vancouver, there are currently more detached houses listed for sale over $6 Million (381) than condos under $500,000 (364).

[Vancouver Market @vancouvermrkt]

"The $20 per buildable (DCC) represents a 10-15% decrease in the value of development land for rental (in the city of Vancouver, even more where rents are lower). It just got that much harder to convince owners to sell, assemble sites, and build rental. Build anything, really."

[Vancouver Market @vancouvermrkt]

A reality check for Metro Vancouver municipalties on housing:

A staggering number of approved condo & rental projects are effectively on hold due to current interest rates & construction costs.

[Lori Pinkowski, CIM @LoriPinkowski]

Many BC residents are frustrated by the lack of affordable housing. The issuance of building permits sits at the lowest level in well over a decade. Approximately 30% of a $1.2 million home is comprised of various government taxes and fees. 1/2

[Vancouver Market @vancouvermrkt]

Dan Fumano: VCC's 'trail-blazing' plan includes thousands of homes for East Vancouver https://t.co/qVddwHoq0m via @VancouverSun

[MikesMoneyTalks.ca @moneytalkstweet]

1/2 The Bank of Canada paid $20.2 million in bonuses ave. $11,000 last year to 1,805 employees as well as raises averaging $3,400 to 1,884 workers - despite getting inflation and interest rate dead wrong For example...
Franco Terrazzano, https://t.co/BCYDc4oQoG
#inflation

[Vancouver Market @vancouvermrkt]

On the City of Vancouver's rezoning website, there are 166 projects listed as 'approved'.

Going through the list, I would wager that more than half these projects are effectively on hold pending market conditions. Some stalled completely, others dragging feet thru DP process.

[Sherman Scott @SScottVancouver]

We pay a lot of taxes at all levels of government in Canada. Would be nice to have clearly defined responsibilities for each level and know that money is being spent wisely where it is needed https://t.co/LmWp7Q0xIF

[Khelsilem @Khelsilem]

"First Nations peoples have the right to shape our future and define what constitutes a thriving community."

"Opponents of our development decisions sometimes don’t understand how they could be undermining our fundamental rights as Indigenous Peoples."

https://t.co/mUfiujXT49

[Madeleine Nicholls @MCENicholls]

Colliers' Q1 2023 Global Retail Survey results are in! 🌐 This report delivers a comprehensive examination of market trends and global forecasts, providing valuable insights for businesses in the ever-evolving retail landscape.

Read now: https://t.co/VrFGxvyO1b

[Sherman Scott @SScottVancouver]

San Francisco's Decline is a Warning to Other American Cities https://t.co/252tzl75Mn

[Sherman Scott @SScottVancouver]

Richmond condo development stalls due to 'rising interest rates' https://t.co/u9Ba5ggmrm via @TheRichmondNews

[Morgan Iannone @morganiannone]

This is pretty encouraging. Hopefully it translates to more housing supply in a reasonable timeframe.

[Vancouver Market @vancouvermrkt]

77 rental units AND ground floor retail replacing two oversized single family lots in Kerrisdale? Yes please!

New proposal for 6-storey rental building at 41st & Maple under SRP.

Developer: Sightline Properties
Architect: Yamamoto Architecture

Details: https://t.co/jmHQVW8e4R

[Sherman Scott @SScottVancouver]

Downtown Vancouver Retailers Optimistic in Rebound but Call for More Security, Improved Lighting Amid Challenges https://t.co/fxgTac8BQL via @retailinsider_

[Richard Wittstock @rwittstock]

With land loans running at 10% p.a. interest now, this is devastating to new housing supply. It’s impossible to put a deal together.

System is completely broken. Only solutions I see are (1) radically streamline process and/or (2) replace staff reviews with AI. @KenSimCity

[Vancouver Market @vancouvermrkt]

Redevelopment plans unveiled for long-vacant gas station site at East Broadway & Victoria.

Plan includes 77-rental units (26 below market) above 6,300 SF of retail space. 6-storeys, 3.0 FSR.

Developer: Third Space
Architect: Yamamoto

Details: https://t.co/UEPX7O9g0K

[Vancouver Market @vancouvermrkt]

Redevelopment of Lynn Valley Safeway site in North Vancouver headed for early council input.

Latest design includes:

- multiple buildings up to 12-storeys
- 417 units (269 condo, 148 rental)
- 46,000 SF replacement Safeway

Details: https://t.co/se9U21Oi7m

[Karm Sumal @KarmSumal]

We have a mental health and addictions crisis playing out in front of us. Quit calling it a homelessness crisis. Simply providing a home for individuals is not enough and anyone that advocates for just a home is not seeing the full picture. Time to change the approach.