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Jericho Lands MLS® Listings
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Building Info
Jericho Lands - 4196 W 4th Ave, Vancouver, BC V6R 4J5, Canada. Located at intersection road West 4th Avenue and Highbury Street in the neighbourhood of Jericho Beach - Vancouver. The Vancouver Westside has traditionally been a low-density residential area, but that will no longer be the case, with the Jericho Lands development introducing high-rise residential towers to create a new high-density node near the western edge of Vancouver.
The project will set aside at least 20 acres for public park, open, and natural spaces - equivalent to 22% of the property for non-development uses. There will also be event-friendly outdoor spaces, including a significant outdoor space with a capacity for at least 2,000 people, and arts and cultural spaces, including specific Indigenous spaces. Other major amenities entail a 50,000 sq ft community centre, a 10,000 sq ft non-traditional library co-developed with the First Nations alongside a traditional public library, a minimum of 259 childcare spaces across up to five on-site childcare facilities, and the possibility for up to 240 after-school care spaces for school-aged children.
There will be space for up to two schools, including space for one 54,000 sq ft elementary school for up to 550 students operated by Vancouver School Board and a potential space for a new replacement home for West Point Grey Academy, which is an independent school for students between Kindergarten and Grade 12 currently found on the west side of the Jericho Lands. The return of the independent school would be subject to a commercial lease with the First Nation. Both schools could have a vertical configuration integrated into the base of mixed-use developments.
Other public benefits include arts and cultural spaces for the First Nations, renewal and expansion of Fire Hall No. 19, and storm and potable water upgrades, including the daylighting of streams across the site. The project has also dedicated the land required for the subway station, which does not include any potential consideration of a cash contribution towards the rapid transit project.
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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