The live/work balance.

City staff are considering ways to allow for more office space in Vancouver despite the opposition of some residential developers. Options include allowing for taller buildings and expanding the boundaries of the ‘office only’ central business district. City planner director Brent Toderian points out the need to consider what sort of office space is appropriate for the type of Jobs vancouver typically creates:

Skyscraper-type office buildings in Vancouver’s central business district are typically attractive to head offices or high-end professional firms. “There is still a question about whether Vancouver can be that kind of downtown,” said Toderian. “The fundamental question is are we going to attract the jobs to this city that require high buildings.”

Toderian says there won’t be much point in allowing tall office towers in the central business district if there aren’t enough large businesses to occupy them. “We don’t want to kid ourselves by saying we have created capacity simply by allowing more height. We want to make sure we create real capacity.”

Instead, the city might produce more useable office space by allowing more height and density in areas such as Yaletown and Broadway, which tend to serve the “smaller users” that are more typical of the city’s downtown businesses.

Residential developers seeking space for new condos developments are concerned that the city is over-estimating how much office space it will need.

Condo marketer Bob Rennie, who is involved with key projects all over the city, warned in May there is a risk condo prices will skyrocket if the city constricts too much the amount of land available to them.

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robs numbers
robs numbers
13 years ago

Hello satv.Please tell your friend Rob, that because some bears are not nice to him, I have decided to start a blog with the sell list ratios so that the bears wont need to visit him and be rude.Just click on my blogs name

satv
satv
13 years ago

digi thanx to post that artical it is eye opner and great source to estimate how to succeed.I also thanks Bill Morrison for this artical,those facts and source are mind blowing and very expensive financial tools.

jesse
jesse
13 years ago

"It means, they've 'arrived' in Canada. It's like success."Stated affordability numbers can be misleading when you look at what some families are prepared to do to own – multiple jobs, homestays, multiple generations, etc. It will be very scary when there are more people than jobs.

satv
satv
13 years ago

beta excuse me please

M-
M-
13 years ago

Wow, that Canada.com article was something else. All the generalizations and arrogance that you've come to expect from the bottom-barrel realtors, and then some."…but some only end up purchasing in the back row with the rest of the kids from the wrong end of the gene pool…"Amazing…

digi
digi
13 years ago

Mk-kids: Astounding, that article is such a brazen sales pitch with all the common arguments for 'this time its different'. My favorite paragraph is the last one:Bill Morrison has been selling North American residential and recreational properties for more than two decades. He is a principal in Pilothouse Real Estate Marketing.How much does it cost to get an ad printed as an article?

beta
beta
13 years ago

satv/rob – don't you have condos to sell? Next time I see your name at the top of a post, I'm just going to skip your tortured prose and read the next post…

satv
satv
13 years ago

conflict of interestspolde those 710 +realtor if they were encouraging you 5 year ago you should have pile up atleast 250k on just 100k purchase.thats why we make friends,so we can proceed into right direction by helping each other.this conflict of interest can happen between friends,reletives,husband and wife.if husband wife are honest towards each other they most likely to buy investment for future.when there is diffrence of attitude's,economic policy,spending habits,distrust,husband most likely to buy excuses instead of investment.do you know in usa,canada,and uk if there is a conflict between husband and wife almost 80% portion goes to wife,there are more than 85 million singles in usa and lots in canada and uk for the same reason.a survey shows most of real estate owners are womens.if you did not buy anything because of good sense of humor, I appriciate that,otherwise I… Read more »

patriotz
patriotz
13 years ago

canada.com has an article today, a full-frontal attempt to get more fools buying real estateNow do you think articles such as this just might be a response to the growing carnage south of the border which is getting too big for the media to ignore? Or am I getting too cynical?

kfinancials
kfinancials
13 years ago

The market is going to crash. When the money dries up, it doesn't matter what the psychological effect is. People could all believe it's going to boom, but because buyers cannot afford it, the price will come down. So bulls, get real and get out while you can. Look up the history for all the booming real estate markets, they've all came down. A 20% drop in market value combined with an opportunity cost of 3% inflation over 5 years is a 35% loss for an investor. That's alot of money. I'll be scared if I were you. I've sold my place.

mk-kids
mk-kids
13 years ago

canada.com has an article today, a full-frontal attempt to get more fools buying real estate. The title?"Don't wait to get into the real estate market"I won't go into it, you really just need to read it yourself with a vomit bag close at hand.sorry pope i'm such a loser with the tiny url… i thought you had directions but i can't find them on your site!http://www.canada.com/findit/realestate/story.html?id=ff68be25-2323-4853-8613-d066b2121699

el bbub
el bbub
13 years ago

Splode, go with bc housing. we rent at 8.9% of family income in Yaletown. Can't beat that kind of a deal.Some people take pride in money they spend, while others in money they save.

Warren
Warren
13 years ago

spolde:I should know bec even among us, people look at you like a loser if you're still renting. My own sister even said that so and so's sister is smarter and more responsible bec she already owns a a t/h and has 2 homestays.Hey spolde thanks for your insight into your community. Being an "average Canadian" I'm not a part of any specific culture, but I can tell you that people look down on me for the same reason as a renter, or for that matter driving an older car, not wearing $100 shirts, etc.The worst thing you can do is fall into the trap of commercialization and consumer spending. Unless of course you like working 12 hour days for the next 40 years. You and your husband should be happy that you have the foresight not to jump into… Read more »

spolde
spolde
13 years ago

I'm an immigrant and my husband and I don't own a house or a condo. 7 out 10 of our friends, who are all immigrants, own a house, t/h or condo. I can tell you for a fact that their biggest mortgage helper is having a foreign student or homestay live in their house. Whenever there's a party or gathering, they would bring their students along with them. MOst of them are from Japan, Korea and Latin America. A homestay pays around 700/month per student. Some even have 2 or 3 students in the house. One friend for example has been hosting foreign students for more than 6 years now. A student usually stays for about 3-6 months and then after they leave, you usually get a new one right away. When we were looking for a property to buy,… Read more »

Swirlyman
Swirlyman
13 years ago

Perhaps an unmentioned second, part-time evening job that is also downtown?

Patiently Waiting
Patiently Waiting
13 years ago

Hmmm, I was at a grocery store in New West in a few weeks ago and noticed a help wanted sign. I have wonder why these women are going downtown for a minimum wage job. Why are they settling for a minimum job at all?

mold city
mold city
13 years ago

I don't know how you could stay in this city at minimum wage. I just met an Australian couple on a one year work exchange at VGH and they couldn't believe the state of housing in this town.

aetakeo
aetakeo
13 years ago

Two of the women who worked the till at a grocery store on Davie share a one bedroom, with another roommate, in New Westminster. We got talking.They're making minimum: which works out to around $1300 before taxes (and union dues). Not much downtown that works in that price range when you've got other responsibilities.

satv
satv
13 years ago

Downtown Vancouver will become a fortress for the rich. god bless you swirlyman,I am a warehouse worker and I have one unit in tv towers 2 on 201 robson which fall in the said article.I would say city or rennie can take their time to think about it because that unit will complete in 2009.so rennie or city both are good for me,I will rent my unit to worlds best hottest secretary and her ug boss.by the way when warehouse worker can own a unit there then whats your problem go for this new project called robson living infront of the vancouver public library go jump over.

patriotz
patriotz
13 years ago

How does that work in other high-cost areas (e.g. Manhattan, LA)?

Rents in LA are pretty reasonable (read HBB). It’s just prices that are unaffordable (i.e. it’s a bubble).

Rents in Manhatten and much of the rest of NYC really are high, and a lot of people live in 3rd world standards of occupancy, just as they have for most of the history of the city.

I guess you’d have to have some (extremely) subsidized rental housing for Starbucks employees, etc.

Well no. That is an outright subsidy for the minimum wage employers. They can damn well pay what is needed to get employees to work for them and take a cut in their profits, or pass on the cost to their customers.

expo 86
expo 86
13 years ago
digi
digi
13 years ago

Thats a classic lame salesman trick – "this deal is for a limited time only! Buy now because the price might go up!" It's used because it works, people really fall for it for Time-shares, Tv sets and Condominiums.

blueskies
blueskies
13 years ago

Condo marketer Bob Rennie, …..warned in May there is a risk condo prices will skyrocket if the city constricts too much the amount of land available to them. bear translation: we have to do everything possible to keep this party going…..

solipsist
solipsist
13 years ago

“Don’t forget excessive property tax for business.”

“They” are shifting that onerous burden to residential, in my understanding.

Oooh, my knee just jerked…

tulip-Mania2
tulip-Mania2
13 years ago

Swirly: If you are going to bring NY into the discussion, should we mention the Greater NY area has about 17 million people, and the Greater Vancouver Village area has about 2.5 Million?But I guess the 2.5 million people are rich international, drug dealing flippers and British Columbia has such a puny land mass, that the comparison may not be fair, and of course Vancouver is the best place on earth.