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1608 W Georgia MLS® Listings
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Building Info
There is a new and improved design for the significant redevelopment of the White Spot restaurant property on West Georgia Street on the border of the West End and Coal Harbour areas.
A newly-submitted rezoning application for the 2/3 block-sized parcel at 1608-1616 West Georgia Street shows two residential towers with a height reaching up to 385 ft. with 38 storeys.
The redevelopment is being pursued by China-based property owner Carnival International Holdings Ltd., which acquired the site for $245 million from Shato Holdings, owned by BCs Toigo Family, in 2017.
The new architectural concept is by Connecticut-based Pelli Clarke Pelli Architects, which notably designed Kuala Lumpurs Petronas Towers, Londons One Canada Square, Hong Kongs IFC, New York Citys World Financial Center, San Franciscos Salesforce Tower and Transbay Transit Centre, and the original design of the Eatons Centre building in downtown Vancouver, and the major corporate offices of Microsoft and Sony Pictures Imageworks, IBI Group is also involved in the project as the architect of record. The proposal calls for 455 strata residential units, with 200 located in each of the towers, and 55 within a four-storey podium that connects the two towers.
Height limitations restrict the project from being twin towers; three view cones cross through the site, and the western towers rooftop structure is restrained to reduce the shadowing on some of the perimeter trees on Marina Square Park, located one block north of the development site. The redevelopments landscaping is described as a tower on podium or tower in the park. Overhead bridges span the courtyard to connect the podiums and towers.
Strata Sub Categories: Strata Condos
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The RE/MAX® brand delivers notable advantages – for agents with a RE/MAX brokerage
As the 2024 RE/MAX vs. The Industry report shows, RE/MAX agents are the most productive, meaning they close more transaction sides than other real estate agents, on average. In fact, RE/MAX agents closed an average of 11.8 transaction sides throughout 2023, nearly double that of the competition
But productivity isn’t the only place RE/MAX shines. The annual report, which ranks the results of national, full-service brokerage brands in the U.S., also highlights that the balloon-backed brand dominated in unaided brand awareness at 36.4%.
Canadian mortgage payments went from virtually nothing to very high
Canadian mortgage payments went from virtually nothing to the highest level in well over a decade, inflicting pain on mortgage borrowers. However, the value of homes also surged. In fact, from the rate cuts that sent home prices surging in March 2020 to the end of 2023, the growth rate of home prices outpaced the increase in the average mortgage payment on file at Equifax. This was true in most of Canada’s largest cities, especially in Eastern Canada where the average household’s payment significantly lagged home price growth.
Canadian Home Values Climbed Faster Than Mortgage Payments
B.C. housing market showing signs of marginal improvement
B.C.’s housing market saw a slight improvement in March as home sales nudged higher following a 5.9-per-cent decline in February. Sales increased 0.7 per cent to reach 5,866 unit sales. Home prices rose 1.8 per cent. This said, housing momentum has waned in the last few months as buyer sentiment shifted amid interest rate uncertainty.
MLS home sales increased in most of the province’s real estate board areas. The Greater Vancouver area saw home sales increase by 1.4 per cent following a decline in the previous month. In Chilliwack, home sales increased only slightly—by just 0.5 per cent—while the Kootenays reported a 17.2-per-cent increase. Home sales also rose 9.4 per cent on Vancouver Island, and were unchanged in the Fraser Valley. However, the Okanagan-Mainline and South Okanagan areas recorded sales declines of 8.9 per cent and 19 per cent, respectively.
Lethbridge industrial market strengthens as options limited
Western Canada’s industrial markets are at an inflection point as demand normalizes and the pause that hit new construction last year begins to make itself felt.
Conservative market sentiment is now creating the conditions for stronger performance in 2024, Avison Young reports, with cities like Lethbridge poised to see a landlord’s market for industrial space.
Lethbridge reported a 4.1 per cent vacancy rate in the first quarter, up from 4 per cent at the end of 2023. But space under construction is down more than half from last year to 50,000 square feet, creating potential supply constraints.
That change will have significant implications for cottage owners. Many have seen the value of their properties skyrocket in recent years, which could cause them to kick the tires and sell before the higher tax rules kick in.
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