A building with a twist

Vancouver is one step closer to getting an interesting new building, and that means it’s time to complain!

For a pretty laid-back town Vancouverites can get vocal about architecture when it departs from the average glass rectangle.

Even the color of the glass can upset some, remember when the city made the Wall Centre change their glass halfway through? Perhaps under the assumption that clear glass would make the building more transparent than black glass?

Well this new building is a weird shape, so get ready for the complaints.

The proposed 52 storey tower will be located downtown at the foot of the Granville Street bridge near Pacific and has a unique twist to it’s design, with a triangular base and a rectangular top.

Close to 800 people attended the two open houses on the project and about 25 spoke at a packed public hearing last night.

Opponents said the tower will block views of the water, cast shadows and bring too much density to the neighbourhood.

But local resident Dean Mailey says it will bring much-needed amenities and charm to the neighbourhood.

“Currently the site is an eyesore in our community. It’s not a nice place to look at any time of day or night.”

Read the original article over at the CBC.

 

 

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HAM Solo
Guest
HAM Solo

BC Foreclosure filings Oct 30

Today / (MTD)

Vancouver: 12 / (111)
Victoria: 3 / (32)
Kelowna: 3 / (30)
New West: 3 / (43)
Cranbrook: 2 / (8)
Kamloops: 1 / (13)
Penticton: 1 / (8)
Vernon: 1 / (7)
Other: 1

Countrywide Cup Foreclosure Lender League Table

MTD

TD: 38
CIBC: 31
Scotia: 29
First National: 22
Royal: 22
BMO: 12
Paradigm Quest: 11
HSBC: 9
Home Capital: 8
Street Capital: 7
Canadian Western Bank: 7

Big day for TD – nine foreclosures, they look likely to be tops for October. Vancouver passes 100 foreclosures for the month .. tracking to 116 – 118 for the full month. Next month will give a sense for trends.

Turkey
Guest
Turkey

@Poloz,

Do you really think PaulB wants to be seen with a bunch of permabears and get photographed having a beer.

He would be shooting his RE career in the foot.

If Paul doesn’t want to risk bumping into neckbeards, he can suggest his terms. I’d be hesitant to accept beer from an on-line forum. But, on the other hand, beer!

Softy
Guest
Softy

“hope and prayers. that’s all these permabears have left.”

They also have pie in the sky.

FYI
Guest
FYI

“Sucks to be a Canadian holding Canadian dollars.”

WTF? My liabilities are in CDN$. so why i would care?

Poloz
Guest
Poloz

Jesse,

Do you really think PaulB wants to be seen with a bunch of permabears and get photographed having a beer.

He would be shooting his RE career in the foot.

Manatee
Guest
Manatee

@Simon # 117

I’ve used one by the NY Times in the past. It’s based around the US market, but it breaks things down pretty well.

http://www.nytimes.com/interactive/business/buy-rent-calculator.html?_r=0

Poloz
Guest
Poloz

Dollar approaching 94 cents US.

Canadian assets are going on sale for foreigners. Sucks to be a Canadian holding Canadian dollars.

bestplaceonearth
Guest
bestplaceonearth

prayer only – it’s just hopeless for them. unless, they have to admit Realtor and mortgage brokers are their friends. only these two parties can save their hopes.
it’s spooky night tomorrow. bears should dare to come out and enjoy this best place on earth with their neighbors.

jesse
Member

” this is only the beginning of what will eventually be revealed as CREA’s big fuck up”

I don’t know if CREA is manipulating data; it may well be a giant conspiracy that is measurably affecting the market. Shame on them. I would recommend any buyer carefully consider and ignore most media reports when making asset purchase decisions. Reporting focus tends to be correlated and lagging.

Good job with the data, Aggregator, I’m a big fan of your graphs.

jesse
Member

“Jesse doesn’t know what the hell he’s talking about”

It’s any wonder people survived before we had reliable data. I appreciate the “lazy” analysis. I’ll take that as a compliment I’m not wasting my time over-thinking things.

Given you need accurate data to make your arguments complete, you need to buy paulb a beer. If you don’t, I don’t mind saying I’ll think less of you.

Poloz
Guest
Poloz

I love charts:

Explain the record gap between condos and detached!

And why it is growing.

mls watch
Guest
mls watch

#102 – 500 W 10th Ave, Vancouver

October 2011:
Asking price: $499,900

Now: Asking $429,000 and has been sitting on the market for a while
(with one added bedroom)

Simon
Guest
Simon

I know this has been mentioned before, but can someone recommend a good rent-vs-buy calculator that accounts for things like return on an invested down-payment?

Melba
Guest
Melba

…Vancouver was gorgeous today. Even though I was stuck inside working, I was able to spend a few minutes before sundown just walking around and soaking it in. Sometimes it’s very easy to remember why I live here….

Yes, it was beautiful! It’s the other 300 days of the year where I struggle to remember why I live here. I love to hit myself in the head with a hammer because it feels so good when I stop.

Turkey
Guest
Turkey

The rest of you can GFY

As tempting as that sounds, I’d rather buy the man a beer. Challenge accepted!

jesse
Member

I pledge to buy Paul Boenisch a beer in real life before the end of 2013.

Step up. The rest of you can GFY

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

hope and prayers. that’s all these permabears have left.

Best place on meth Says:
Paul, give us 50 sales today please!

patriotz
Member

@93: ” But just because the bulls make that argument that does not mean it is unnecessary to quantify foreign ownership.”

I have said on this blog many times that foreign owners should pay much higher PTT and property taxes, so obviously I think governments should accurately track foreign ownership.

My point is that foreign ownership is not the real problem, government policy that inflates prices is. And IMHO anyone, or any government, who focuses on the former without giving precedence to the latter is trying to ignore the real problem.

ILoveCharts
Guest
ILoveCharts
Dear Poloz, There are many processes in place which put an upper limit on pricing for housing. Some processes act fast but are hard to time: An interest rate hike or new regulation changes how much people can afford to pay overnight. Some processes are slow and inevitable: The population density in Canada is currently around 3.75 people per square kilometer. When house prices become too high in a given area, there is increased economic activity in lower priced urban centers. Some processes are hard to predict: Anything related to foreign ownership is tied to economies around the world, government regulations and investor sentiment. Your single trend could drive an increase in prices if it were acting in isolation. Once you throw it in a pot with dozens of other processes, I think that your results will vary. In the… Read more »
Aggregator
Guest
Aggregator
#yvr2zrh Not really. If sellers are dropping prices, then price changes would slow as they reach a point of negative equity. Sellers are more likely to continue payments and wait, rather then sell at a loss. But the way this market thinks and with no price history provided to buyers (I highly doubt many even ask their agent for price history, and if so, whether agents even provide all of it), they'll just jack up the price to make up lost payments and pray their home is spotted by a yellow helicopter. One important piece of data that would be useful for Van is average list price. I have this for Toronto detached and can calculate a good measure of SP/LP ratio. Chart This is a perfect example of why transparent data matters, because all you hear and read about… Read more »
Poloz
Guest
Poloz

Huffington post has a story about the gap in prices between a condo and a detached house.

$655,000 now. A record.

As detached become less and less percentage of the total housing stock, prices will go higher.

It is happening right now so I won’t say wait and see.

Obviously if immigration was curtailed this would all come crashing down.

crikey
Guest
crikey

#99 said, “, I was able to spend a few minutes before sundown just walking around and soaking it in. Sometimes it’s very easy to remember why I live here.”

Damn it, you’re right. Lucky for us, no other place on Earth has invented once-a-week-sunshine yet, so Vancouver’s high prices will continue to hold. We’re so far ahead in that department that we can afford to fog ourselves over for what seems like an eternity.

Yes, given today’s weather it’s very easy to remember why one lives here, especially if one’s amnesia means you can’t remember what it has been like here for the last two weeks.

ILoveCharts
Guest
ILoveCharts

tedeastside, why do you choose to live here?

Newcomer
Member
Newcomer

Insurance Bureau of Canada recommends:
buy more insurance.

That’s odd.

Son of Ponzi
Guest
Son of Ponzi

Insurance Bureau of Canada warns:
Severe earthquake in BC will cost about 72 billion.
Richmond will be washed into the Sea.