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Building Info
Porthaven - 2272 Leigh Square Pl, Port Coquitlam, BC V3C 3B8, Canada. Situated in the neighbourhood Downtown-Port Coquitlam. Comprising 108 elegant condominiums, 6-storey, mixed-use building, developed by Northstar. Ranging from 525 1,000 sq ft, a variety of floorplans offers a selection of layouts from studios to 3-bedroom suites, including 39 homes with a den. Easy access to downtown shopping, professional services, restaurants, leisure activities, and recreation. Only a 4-minute walk down Wilson Avenue, where youll find arenas, a pool, a fitness centre, a gymnasium, and more. Porthaven Port Coquitlam includes a parkade with 124 vehicle stalls and bicycle storage. Additional transportation measures like car and bike share programs, and a one-year transit pass subsidy for each home, are planned.
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.
High-tech sensors in workplaces, postal-code analysis among tools for real estate strategies.
Driven by persistent return-to-in-person challenges, local companies are leveraging office space data to optimize the physical spaces they occupy.
Employee commute times and office space utilization data are informing companies’ strategies for encouraging in-person work and optimizing office layouts to meet long-term goals, according to those who spoke toBIV.
“As companies are revisiting or choosing to revisit their office space, they’re looking at a year to two years of real good data of who’s coming in, how often, what are they doing and what’s the purpose of the office for those people,” said Alain Rivère, vice-president of the high technologies group at CBRE.
Detached home starts decline as condo, townhome starts boom in 2023
The West Coast housing market saw a significant boost in construction activity last year, according to a new report by the Chartered Professional Accountants of British Columbia (CPABC).
The annualBC Check-Up: Investreport found that construction began on 35,553 housing units in southwest B.C. during the year, a 20.9 per cent jump compared with 2022. This marks the highest number of housing starts ever recorded in the region.
“Our members living in the Lower Mainland have consistently reported that housing prices are the biggest challenge facing B.C. businesses,” said Lori Mathison, president and CEO of CPABC, said in an April 18 statement.
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