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A first for Vancouver: City issues a heritage inspection order for historic house

May 13th, 2016 · No Comments

Huh, never seen this before. The city is really being pushed into doing something. I’ll be curious to see what happens next.

May 13, 2016

Heritage Inspection Order issued for 1550 West 29th Avenue

The City of Vancouver Director of Planning has ordered a heritage inspection of the property located at 1550 West 29th Avenue, for the purposes of assessing the heritage value and heritage character of the property, and to help determine whether it merits heritage conservation.

The action was taken in order to evaluate the home’s potential historic significance: this Tudor-style home built in 1922 was the first Western Canadian house used as a show home to demonstrate the use of modern electricity in homes. This is the first time a Heritage Inspection has been ordered by the City, as a new tool enabled by the Heritage Procedure By-law approved by Council in September 2015.

“We heard very clearly from the public their concerns regarding the potential loss of the historic ‘Electric House,'” says Mayor Gregor Robertson. “Granting temporary heritage protection to this property is an important first step that gives the City time to properly assess its heritage value and character, and I look forward to staff reporting back later this month on next steps.”

This order is being issued pursuant to section 7.1(c) of the Heritage Procedure By-law, No. 11350 and section 583 of the Vancouver Charter and will remain in effect for no more than 30 days.
While the property is subject to this order, it is also subject to temporary heritage protection afforded by section 591 of the Vancouver Charter, which means that a person must not:

(a) alter the exterior of a building;

(b) make a structural change to a building;

(c) move a building;

(d) alter, move or take an action that would damage a fixture or feature identified in the authorizing resolution, order or by-law for the temporary protection; or

(e) alter, excavate or build on the property

unless this is done pursuant to heritage alteration permit.

Staff and heritage consultants will undertake a heritage inspection and the results will be presented to City Council in a public report on May 31, 2016 at City Hall.

Background:

The house at 1550 West 29th Avenue is not listed on the Vancouver Heritage Register; however, it is one of the sites nominated as part of the Heritage Register upgrade currently underway as part of the Heritage Action Plan. It was built in 1922 and was designed by architects Townley and Matheson who also designed Vancouver City Hall. The house was built as a show home by the Electrical Services League of BC to demonstrate to the public the “convenience from a house being properly and adequately wired for electricity.”
The Heritage Action Plan (approved By Council in December 2013), includes actions related to updating the City’s Heritage Conservation Program, the Vancouver Heritage Register and completing the character home zoning review. Consultants and staff are reviewing options to encourage heritage and character home retention and will begin public consultation next month and continue through fall 2016.

 

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Metro looks at tax changes to encourage agriculture, discourage lifestyle farming on ALR land

May 8th, 2016 · 2 Comments

Metro Vancouver is unique among North American cities when it comes to farmland. It has more farm-designated land in its boundaries than any other North American city. And that land, when it is farmed, is very productive.

Metro Vancouver farms have the highest “farmgate” revenue of anywhere in the province, due in part to their proximity to a big pool of people eager to buy at farmers’ markets or from farms directly.

But half of the 6,700-some parcels of ALR land in the region aren’t farmed. A quarter can’t be, because they are golf courses, road allowances or whatever. But the other quarter is sitting unused because the people who own those parcels have decided they make wonderful country estates or other non-farm uses. (The Vancouver Sun’s Kelly Sinoski did a story five years ago about the disturbing trend of mega-manions on farmland.)

Now, Metro planners are trying to come up with some tax changes that might encourage more farming … and discourage people who claim they are farming, but are producing so little revenue that they seem to be in the business mainly for the hefty tax benefits available if their land is classified as agricultural rather than residential. Changes are a ways off. A report Friday outlined some strategies, which I covered in my story here.

There’s more to come in the next few months.

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Chinese investors open schools, shellfish hatchery, more to come in former resource town

May 2nd, 2016 · 2 Comments

I heard that a Chinese private school was looking to partner with the local school board in Powell River to start a new kind of venture, where the Chinese company would build a school and dormitories for 400 students while the district handled all the teaching.

That was interesting enough. But once I started calling around to get more information, I found out there was so much more going on: another Chinese investor, another piece of property and talk of joint programs with the local university satellite campus; a shellfish hatchery just opened by still another Chinese investor; and Chinese entrepreneur immigrants coming in to the community through the entrepreneurship program.

My story that sketches out the bare bones of this is here. I imagine there will be more to come in future.

I think we have no idea at all what kind of change is going to be wrought on this province by these investors from one of the world’s biggest economies, who seem to have a fascination with the province equivalent to what the Germans do.

 

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City asking for your (many) opinions on what to do about vacant houses

May 2nd, 2016 · 2 Comments

I know this crowd will want to weigh in. Announcement from city below.

The City invites residents to participate in a public survey to seek their opinion on possible government actions to discourage empty homes in Vancouver.

Following the City’s study on empty homes in March 2016, which showed 10,800 homes in Vancouver left unoccupied for a year or more, the City conducted research with local housing, real estate and public policy experts into potential actions to decrease the number of empty homes.

The survey asks for public opinion on these actions, including taxing short term investors, prohibiting strata restrictions on rentals and increasing property taxes for unoccupied homes.

The City has limited tools to discourage empty homes, so partnership and support from the BC government are critical to the next steps. Public opinion about the need for action will be an important part of the request the City presents to senior government. Under the Vancouver Charter, the City does not have the power to mandate occupancy.

The online questionnaire launches today at vancouver.ca/housing<http://vancouver.ca/people-programs/housing-and-homelessness.aspx> and will be open for responses until May 16, 2016.

Background

Responding to public concerns that empty homes could be impacting housing affordability and neighbourhood vibrancy, City of Vancouver staff presented the findings of a comprehensive study on unoccupied homes to Council on March 8, 2016.

The findings of the study, which looked at 225,000 homes in Vancouver, showed that:
* The percentage of unoccupied homes has remained steady since 2002 – about 4.8 per cent for all housing types.
* Looking at data from 225,000 homes, a total of 10,800 homes were empty for a year or more.

* Of all the empty homes identified, 90 per cent were condos and apartments.

* The percentage of empty single-family and duplex properties remains the same as 2002 at around 1 per cent.

* Census data shows that the percentage of empty apartment and condo units in Vancouver is about the same as other large Canadian cities.
The full presentation on empty homes can be found here: http://council.vancouver.ca/20160308/documents/rr1presentation.pdf

The consultant report on empty homes can be found here: http://council.vancouver.ca/20160308/documents/rr1EcotagiousReport.pdf

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Still lots of mystery behind the flip of two Nelson Street properties for quadruple assessed value

April 25th, 2016 · 6 Comments

I think many of you saw this fun piece by Ian Young at the South China Morning Post about the interesting doings with two Nelson Street properties, purchased by Bruno and Peter Wall just two years ago and recently sold for $68 million to a new player in town, Gao Shan.

Ian’s style can be very entertaining and swashbuckling — reminds me of the style of William Randolph Hearst’s reporters at the New York Journal in the rambunctious days of early commercial journalism. And kudos to him for getting hold of the new buyer and also interviewing the Walls’ sad-sounding architect about the building design he created for them, which now looks to many as though it was just window-dressing prior to a sale.

But I was hoping that in the Twitter/blog discussion elsewhere that a couple of questions would be answered, but that hasn’t happened, so I’ll put them here.

Question 1:

What really is the role of Suncom in all of this? This is the company that was advertising “crowdfunding” opportunities for both the Molson Brewery site and these Nelson Street sites on social media a few months ago, which various reporters wrote about. Yet the Molson Brewery site ended up in the hands of Concord Pacific and it looks as though it went straight from Molson to Concord with no intermediary, in spite of whatever Suncom was advertising.

With the Nelson Street sites, Julia Lau, who has been with Suncom in the past but it’s unclear what her role is now, also appeared to be soliciting investors, as I wrote in a story a couple of months ago. Some sharp-eyed people got screen grabs of her Facebook posts saying the following.

Julia Lau –

“The new project we just bought is 1065 Nelson St., Vancouver. Located at Burrard Corridor Area “E”. lot size is 17,292sf ( 130 x132 ), two appointments building with 50 units. Net income is $470,000/year. The SFR is 2.75 now but potentially could be up to 24.3. It could built up to 58 floors new apartment building potentially. Whoever want to invest has to prepare the deposit with bank draft tomorrow. The shares will be sold out on Monday.
The previous project we bought with $103 million at 14140 Triangle Road, 14300 Entertainment Blvd, and 14111 Entertainment Blvd Richmond on May 22, 2015, the shares were sold out in one week.
The $30 million projects at 5826 & 5860 Tisdall St Vancouver’s shares were sold out in one day on Feb 21, 2015.”

next day

“The $60 million dollars project at 1065 Nelson St Vancouver’s shares sold out in two hours! Thank you very much.”

So Lau’s posts claimed that the project sold out. But did it? We have no evidence that anyone invested. Lau hasn’t returned calls to anyone in a while and no investor has ever appeared to talk about what a good investment she or he made.

Question 2:

What is that land really worth? There are two apartment buildings, one at 1059 Nelson, the other at 1075 Nelson. The Walls bought the two in February 2014 for $16 million, though the 2015 assessment put the value at only about $14 million for the two. Gao Shan bought for $68 million, which makes it look as though he paid stupid money and the Walls made out like bandits.

However, since the time the Walls bought and now, the city passed the West End plan. That plan envisions much taller towers being allowed in the block next to Burrard, i.e. right where those two apartment buildings are. (Actually, my question 3 is, what did the Walls know when they bought those apartments back in February 2014, before the West End plan was passed.) Note: My mistake. The West End plan was passed in November 2013, as per CityHallWatch note. But I do wonder if the sites were optioned before. Their purchase price seems low, as though the owner didn’t know about potential rezonings.

Developer Bosa recently bought out all the condo owners of a building nearby (1060 Barclay) for double the assessed value on their units, precisely because of the additional density the West End plan will allow. There were 56 units in the building. One unit that I looked up had been bought by Bosa for $608,000 when it was only assessed at $354,000. If you multiply 56 times $608,000, it comes out to around $34 million. And some units may very well have been worth more. Note: David Taylor says Bosa bought 1070 Barclay, next to 1060, for $59 million. Also in the rezoning zone.

So developers are clearly willing to pay extra in that area, based on their expectation that the city is going to allow much high density in that block between Burrard and Thurlow. The Walls had proposed a 60-storey tower in their pre-application open house.

But I don’t know enough about the potential for that site and the buildable square feet that might be allowed to know what that $68 million will work out to on a per-square-foot basis.

The city also does require that 25 per cent of the units on that site be for social housing, which is definitely going to cut into the profits. And, from what I understand, the buyer has already made a couple of clumsy moves at city hall. I can’t imagine this process is going to go smoothly for him.

I look forward to your analysis.

 

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A fun heat map showing where people use transit the most

April 21st, 2016 · 1 Comment

A nice visual look at transit use in Vancouver, compliments of a group called the 10 and 3, who sent this to me.

http://www.the10and3.com/a-heat-map-of-public-transit-use-in-vancouver/

A Heat Map of Public Transit Use in Vancouver
By Arik Motskin and Zack Gallinger
Vancouver Skytrain
Vancouver was relatively late to the game in Canada when it came to building a modern rapid transit system, opening its first Expo line in 1985, many decades after Canada’s first subway came online under Toronto’s Yonge Street in 1954. And while Vancouver’s efficient SkyTrain system maintains relatively modest ridership numbers compared to its counterparts in Toronto and Montreal, talks of expansion to serve the ever-growing transit needs of this bustling city are continually being put forward.

As with our earlier transit heat map of Toronto, we wanted to take a high level view of the system and examine where residents in Greater Vancouver rely on public transit the most. Using data from the 2011 National Household Survey, we sliced up the Vancouver area into census tracts, and mapped what percentage of employed residents in each area use public transit as their main mode of transport to get between home and work.
Not surprisingly, some of the highest usage areas are along the Expo line, Skytrain’s very first line built for Expo 86. A significant amount of high density housing has been constructed along the line since then, which has translated to a notable reliance on public transit in those areas, including the area around Metrotown Station, which has the city’s highest usage (52.2%).

The Millennium and Canada lines were built far more recently, and the data suggests residents along those routes tend to rely somewhat less on public transit for their daily commutes. A notable exception is in the area near the Lougheed Town Centre, which was built up even before the SkyTrain arrived in the 2000s. Here, upwards of 37% of residents take public transit to work.

As we observed in Toronto, residents of certain wealthy areas tend to rely less on public transit, even when in relatively close proximity to stations. Shaughnessy, which was recently declared the most expensive housing market in the country, exhibits remarkably low usage (11.5%).

Methodology
Statistics Canada collects public transit usage data for employed residents over the age of 15. Public transit must be a resident’s main mode of transport to travel between home and work to count, as opposed to walking, cycling, driving, etc. Census tracts represent the most granular slicing of a city that Statistics Canada looks at, and typically represents an area with between 2,500 and 8,000 residents.

Don’t miss our newest stories! Follow The 10 and 3 on Facebook or Twitter for the latest made-in-Canada maps and visualizations.

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In the continent’s hottest housing market, Vancouver will try to create an “affordable home ownership” program

April 19th, 2016 · 10 Comments

The good folks at city hall are probably wishing someone had started the idea of an affordable home-ownership program 10 years ago, when prices were way more reasonable.

At any rate, they’re going to try now by getting units in new development projects through developer community-amenity contributions and then selling them to people at below-market prices, while retaining a share of the equity.

I’ll be counting the seconds until this all unrolls. Very difficult to work out. First, the province has to change legislation. Then, the city has to hold a consultation on how this will work. Who gets first dibs on these units, once people have met the income/residency/job-in-Vancouver requirements? A lottery? Or will some types of employees get bumped up the list?

And then there’s working out the financials and legals with the developer and the buyers.

All this and more is what other cities have gone through so it’s not impossible. The city’s comprehensive report outlines the efforts in places like Calgary, San Francisco, Boston and more.

Local housing experts say the program is worth a try, but will likely only be able to serve a small slice of the city’s anxious residents. They’ll need to make enough money to pay the mortgage on what will be, even with the discount, an expensive condo, but not make enough money to just plunge into the market on their own.

 

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Your chance to contribute to a housing documentary, if you haven’t got enough info yet

April 19th, 2016 · No Comments

This arrived in an email and I’m passing it on as a PSA

Vancouver, B.C. – The housing crisis leads the headlines, but there’s more to the story than foreign investment from mainland China entering the real estate market. A new independent film series called Crisis in the Greenest City is set to go deeper into the story, engaging communities facing evictions, displacement and destabilization.

Eliot Galan, founder of Collectivista Media, states, “While we recognize that foreign wealth migration has rippling effects in the housing market, we assert that there are bigger factors causing the affordability crisis: a deregulated housing market, disparity between rising rents and stagnant incomes, and gentrification of lower and middle-income neighbourhoods, to name a few. Given that the media has focused almost exclusively on foreign wealth and speculation, our goal is to fill the gap in the story, and shed light on what’s really happening on the frontlines of the housing crisis.”

Collectivista is asking for community members to vote on Storyhive so this film series can become a reality. People can vote at tinyurl.com/crisisfilm once a day until April 24. If successful, the film series will be produced and distributed publicly this summer.

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Concord purchase of central industrial site has everyone in a flap

April 13th, 2016 · 15 Comments

It’s amazing how much interest there has been in Vancouver’s beer factory at the south end of the Burrard Bridge.

Ever since Molson announced it was being sold, there’s been speculation about the buyer and the price and the future.

It’s not the first time Vancouver’s west side has gone through this. For you youngsters, the decision to close the Carling O’Keefe brewery at Arbutus and 12th in the early 1990s resulted in one of the most exhausting brawls in the history of the planning department, as residents resisted any form of development that they thought wouldn’t fit in with the primarily residential neighbourhood.

It’s going to be just as tough this time, as the whole region is focused on trying to preserve industrial land, whatever that means on a piece of land in the middle of one of the more expensive cities on the continent.

Here’s the story about the news that Concord Pacific bought the land, with plans for some kind of “sustainable mixed-use development” and my follow-up on what councillors and urban-land specialists think should or will happen.

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Latest wrinkle in Vancouver’s strange housing market: Formal warnings about dangers of no-subject offers

April 12th, 2016 · 2 Comments

It’s more than a full-time job trying to keep up with the way behaviour in the real-estate market is morphing these days.

The latest: Buyers possibly being asked to sign forms saying they understand the dangers of making no-subject offers.

(One of my Twitter commenters already noted that this makes it sound as though it’s the buyers pushing this, when, he said, it’s the realtors. That’s a good point.)

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