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Vancouver single-family homeowners cash in — sometimes — when city plans change

May 4th, 2015 · 7 Comments

Got to tackle the land-assembly craze that people have been noticing around the city lately, as signs have sprouted all all over the place with whole blocks for sale.

As any number of land-assembly specialists told me, this is all about people stampeding to redevelop when a community plan changes to allow for more density.

Or in Surrey, I was told (didn’t get to include this in my Globe story attached here), it happens when a new piece of infrastructure goes in, i.e. a pumping station, that makes intense development possible.

This kind of land assembly was happening in parts of the downtown the last two decades — we just didn’t notice it because it was older commercial buildings and/or vacant lots.

But with the signs all through Vancouver’s central neighbourhoods — Main, Cambie, Oak, 25th, 41st, 49th — it hits us in the face that the city is changing.

My online Globe story has a bit more in it than the print version, because I went and dug out the numbers on two different projects on Cambie — what the residents got, what the city got, what the developer got. Enjoy.

 

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