No More Hospital in Downtown Vancouver?

A couple of weeks ago VCI commenter Corrupt in Canada linked to a story over at VanCityBuzz reporting that BC NDP MLA Spencer Chandra-Herbert was upset the provincial government was on the verge of reneging its promise to revitalize and expand St. Paul’s Hospital.

Three years ago Premiere Christy Clark pledged half a billion dollars to improve the hospital, but nothing has been done to this date.

In the original article VanCity Buzz reached out to the BC Ministry of Health who had this response:

Government remains firmly committed to revitalizing St. Paul’s Hospital. St. Paul’s Hospital is an important part of the network of hospitals in the Lower Mainland, serving a large and growing population from downtown Vancouver, and from across the region. We are continuing to work with Providence Healthcare on the best way to revitalize the hospital for the communities it serves. We must make sure that this fits within the future long term vision of health care in the region and across the province, focusing on more comprehensive community services and a partnership between Lower Mainland hospitals.

We must also ensure that St. Paul’s Hospital can continue to serve the community while the revitalization project is underway.

So we know that most of you will be utterly surprised that Providence Health Care just announced that St. Paul’s will be closed and a new facility will be built in East Van.

Shocked even!

The west end MLA took his disappointment over this announcement to twitter:

St. Paul’s Hospital proved it’s worth during the Stanley Cup riots. Viaduct, bridges, + Skytrain all closed. No way out of downtown. downtown Vancouver needs an emergency room, especially in an emergency. In an earthquake all exits out of downtown may be closed.

Of course there may be a much better use of the land the current hospital sits upon: CONDOS!

Plus new hospital in East Van just has to drive up property values there right?

Win-win.

 

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space889
Guest
space889
@Corrupt in Canada – And don’t they also take a lot of net gov’t benefits? And sponsor their parents, grandparents, kids, relative, relative of relatives here? All taking up limited medical resource and public school resources? But hey they work in low paying jobs that no self-respecting Canadian would want, pays some nominal income tax, and speak English without a lot of accents, so they are great!! But on other hand, those evil evil Chinaman who buys $5M dollars, pay $20K in property taxes, and spends like drunken sailors in local shops and restaurants are just super evil. They bring hell to Vancouver. They need to be banished forever! /sacarsm Actually, if what you say is true then Filipinos would actually be direct competitors of people like team BPOM since they are buying what team BPOM would like to buy.… Read more »
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Oracle
Guest
Oracle

Patriots, you are such a liar.

There are more migrants coming now than ever before. statscan does not count many categories in statistics nowadays. Ex. IMP, TFW, 10 year visitor visas, etc.

Now can you not avoid answering the question of why someone who lives and owns in Ottawa is more interested in Vancouver area estate more than his own city?

Say hi to your colleagues in citizen and immigration Canada for me.

Best place on meth
Member
Best place on meth

@spaceshit

“So you believe people can have freedom of speech and believes as long as they are exactly the same as yours. Otherwise, they can go to hell.”

No, you have me confused with that asshole “Shut It Down Already”.

Why don’t you two go find a nice table somewhere and have a friendly game of Russian Roulette?

patriotz
Member

@175: “Why would people come to a city where they can’t afford decent housing?”

Canadians have stopped coming (in net migration) – which is a big change from historical trends. All the population growth is now from immigration. Cultural and family considerations tend to trump economic ones (otherwise they would have gone to Alberta) but even those are not inviolable long term.

patriotz
Member

@171: ” It’s not realistic for you to expect no change in affordability.”

I don’t. There was one of me, but there are two of them.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
StupidityCheck
Guest
StupidityCheck

Dave, if the housing market doesn’t correct I wouldn’t count on booming population growth. Why would people come to a city where they can’t afford decent housing? It’s not like people don’t have other options.

Dave
Member

I stopped reading when I saw the $50 line item. If you are going to write an article on financial planning, you might want to put some thought into it. What passes for reporting is sad. The person who wrote that isn’t qualified to manage a pop machine.

$400 a month for groceries for a family of 5? That’s $2.50 a day for each family member. I don’t think you could do that on rice and beans. I don’t really budget, but we’re probably like $1,000 for a family of 3. It would take me only 5 minutes to figure it out and I’m not a financial planner.

Most of their net worth is in a single stock. I guess that planner skipped the lesson on diversification.

Many Franks
Member
Active Member

@Dave: Not to mention $10/month on entertainment, which won’t even get them into the public pool. But I suspect those numbers were provided by the couple…

Dave
Member

Many Franks, that financial advisor budgeted $50 a month for restaurants for a family of five. That’s about the cost of taking your family to McDonald’s once a month. I would fire his ass just on that line item. What a dummy. He clearly doesn’t have kids.

Dave
Member

Patriotz, cap rate are definitely low and the return on a rental is poor. People are clearly factoring future price increases into purchase values. If you want to call that speculation by definition, then I can’t disagree.

But, I also believe that land values will continue to outstrip inflation in the coming decades. Like I said, it’s simple math. More people plus fewer lots means that over time it will take a progressively greater income for somebody to buy a single family home. It’s such a strong trend that I personally would not call that aspect of pricing speculation. Our difference is semantics.

I think you’re failing to appreciate that our population has gone through the roof since the early 80s. It’s not realistic for you to expect no change in affordability.

Many Franks
Member
Active Member
Can this single-income family get into Vancouver’s blistering housing market? It depends on their values A young family on a single income with $437k in Apple stocks and half-decent financial discipline wonders whether they should buy a house: For now, they should continue renting at $1,550 a month, Egan suggests. Even $1,550 a month amounts to a third of their take-home, single-earner income. It’s a relatively large sum, but it allows them to save and build their capital. The advisor crunches the numbers and lays out a reasoned financial scenario through to retirement, then throws it all away: Buying a house is probably the better investment strategy. It would be leveraged on a mortgage loan at what would be low rates for at least several years, would provide shelter and could be sold with no tax on the capital gain… Read more »
Cat in the hat
Guest
Cat in the hat

168:

Rent are not cheap in Van, unless you are a groundhog preferring to live undger ground.

patriotz
Member

@164: “Since when were 20 and early 30 something Liberal Arts graduates able to afford a house in Vancouver?”

Good chance they could afford to rent one, and if they can afford to rent but not to buy that’s because prices are inflated due to government policies.

If there were really as much of a scarcity as you make out renting would be out of reach too.

Bought my first house on one income in CoV. But that’s when interest rates were in double digits, and a big down payment really got you somewhere.

Corrupt in Canada
Guest
Corrupt in Canada

You know who the sleeper bubble formers are, Filipinos man.
Where the ChinaMen are buying with ziplock bag full of dollars, these Filipino fuckers may look poor but they are doing what the Indians did, buy up properties with all their cousins, pay it off quickly and then repeat.

space889
Guest
space889

@Mortgageslave – Yelling at me isn’t going to solve your problems moron. Your problem is your fellow Canadians willing to pay up for housing while you aren’t, and they probably work and make more $$ than you, or knows how to work the system better.

The world doesn’t owe you anything and frankly your anger at the injustice of it all is really pathetic, considering that you already won the genetic lottery by able to live in Canada. I can’t imagine how angry and depressed you must be if you are born to some poor peasant in Middle East, Africa, or even India – as a girl no less. You and rest of team BPOM will probably be enthusiastic ISIS members right now, waiting to go to heaven for the 72 virgins.

space889
Guest
space889

@BPOM – So you believe people can have freedom of speech and believes as long as they are exactly the same as yours. Otherwise, they can go to hell.

Dave
Member
SouthSea 158, that’s a funny article. The girl working as a ‘communications consultant’ and the guy working as some kind of ‘conservation professional’ are pretty funny. Since when were 20 and early 30 something Liberal Arts graduates able to afford a house in Vancouver? A little late on the bandwagon there guys. It’s been this way for decades. You should have thought of that when you took basket weaving for your degree. The math on this is pretty simple. There are only so many single family lots available this side of the Port Mann bridge and our population keeps going up. The people who are going to be able to afford a lot are upper income people or those who are born into money. And sadly even then, many upper income people can’t afford a single family home. I can… Read more »
would-be buyer
Guest
would-be buyer

As expected, Poloz is just importing inflation with his idiotic rate cut and trashing the dollar:

http://www.bloomberg.com/news/articles/2015-04-17/canada-march-core-inflation-is-fastest-in-more-than-six-years

When the Feds lift off in June or the fall, how long can the BOC really keep rates artificially low? I think Canadians are in for a surprise.

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

@161

it’s a good time to buy now. then sell in 3 months.

George
Guest
George

Conspiracy theorists and bloggers likened to ISIS terrorists in US Congressional hearings, according to zerohedge. Better watch out VCI!

http://www.zerohedge.com/news/2015-04-16/conspiracy-theorists-bloggers-compared-isis-during-congressional-hearing

George
Guest
George

“Chinese stock futures are now down almost 7% – the 2nd biggest drop in 7 years.”

http://www.zerohedge.com/news/2015-04-17/chinese-stocks-are-still-crashing

flaneur
Guest
flaneur

@#142
That could be in response to this embarrassing piece of news broadcasted last July on their State Television.
http://www.nytimes.com/2014/07/12/business/international/chinas-central-bank-investigating-report-of-money-laundering.html?_r=0

southseacompany
Member
southseacompany

“Vancouver housing prices tweet spurs ‘DontHave1Million’ social media campaign”, CBC News

http://www.cbc.ca/news/canada/british-columbia/vancouver-housing-prices-tweet-spurs-donthave1million-social-media-campaign-1.3036655

“Do you rent or own? It’s the first question many Vancouverites ask one another.”

“Sick of stressing out about how she could afford to have a family in Vancouver, (29 year-old Eveline Xia) the environmental professional took to Twitter to express her anger over sky-high real estate prices in the city.”

“Xia had no idea her #DontHave1Million hashtag would go viral, trending on Twitter across Canada on Thursday. “