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 Posté le: Mar Sep 17, 2013 7:40 am Sujet du message: Canada Mortgage and Housing Corp. |
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Century Group plans to include an agriculture centre as part of its Southlands property developmentBy Peter MithamTue Aug 27, 2013 12:01am PSTStable housingWith the approach of Labour Day and the autumn round of industry meetings,[url=http://www.toms-shoes-sale.com]Cheap Toms[/url], just how happy are pundits likely to be? Judging by the raft of data logged over the summer,[url=http://www.toms-shoes-sale.com]Cheap Toms[/url], people have grounds for contentment – but the overall attitude still seems to be cautious.June began with a Conference Board of Canada report tagging Abbotsford as having generally upward expectations for housing starts while Victoria was facing a negative outlook. Vancouver was somewhere in between, with positive short-term prospects dimming in the long term.While the outlook improved over the summer, it was only evident in a rise in the board’s long-term expectations for Victoria; for Abbotsford and Vancouver, there was no change in expectations.The improvement was paralleled in language from the BC Real Estate Association, which headlined its June market report “BC Housing Market Recovering from 2012 Slowdown.” The following month, it declared “BC Home Sales Continue on Upward Trend,” and finally, earlier this month,[url=http://www.toms-shoes-sale.com]Toms Shoes Outlet[/url], it trumpeted: “July Home Sales Highest Since 2009.” With the composite price of resale housing in Greater Vancouver rising, the big picture reflects something of local experience. Cool sales early in the year helped moderate prices,[url=http://www.toms-shoes-sale.com]Toms Shoes Sale[/url],[url=http://www.toms-shoes-sale.com]Toms Shoes Outlet[/url], paving the way for a gain of 1.9% overall as buyers returned to take advantage of better values.Canada Mortgage and Housing Corp.’s latest report expects Vancouver housing starts to reach 18,200 and resales to total 25,500 this year and then post significant gains next year. It hasn’t changed its outlook over the summer, with the next major forecast update expected at its annual housing outlook conference on November 1.Southlands date setThe project won’t add to housing starts this year, nor possibly even next year, but redevelopment of the Southlands project in Delta is inching closer to reality.Brad Semke, project manager for the development being undertaken by the Century Group,[url=http://www.toms-shoes-sale.com]Toms Shoes Sale[/url], said rezoning of the 538-acre property will go to public hearing on October 28. The hearing follows a highly successful public information meeting this spring, and first and second reading of its rezoning proposal on July 29.The rezoning seeks approval for a mixed-use development on the site, including 950 residential units on just over 105 acres as well as retail and arts space, “a farmers’ market, a culinary education kitchen and a farming school,” according to council documents.Century Group intends to deed the remainder of the site to Delta, with approximately 100 acres of forest designated as environmentally sensitive.However, things aren’t entirely straightforward. While the municipality may rezone the site, the portion targeted for development lies outside the urban growth boundary defined in Metro Vancouver’s Regional Growth Strategy. A separate application to Metro Vancouver is needed before development proceeds. Assuming the rezoning is successful later this year, Semke hopes the region will consider Century Group’s plans early next year. Approval from the region would open the door to detailed design work and the submission of a formal development proposal for Southlands.Previously known as the Spetifore lands, the property is one of the most contentious tracts in the Lower Mainland. It was the subject of the longest-running public hearing in Canada in the 1980s. While zoned for agriculture, it lies outside the province’s agricultural land reserve, theoretically making it an easier development prospect.The latest bid to develop the property began in 2010, when 1,900 residential units were proposed. Public concern over the fate of the lands prompted the project to be revamped, and rezoning was deferred pending approval of the regional growth strategy.Trophy sellsBentall Kennedy has picked up the Capilano Business Park from Triovest Realty Advisors Inc., which listed the property for sale earlier this year.Described as a “trophy property, within a trophy location,” the park has three office-warehouse buildings with a total of 289,831 square feet split almost equally between office and warehouse uses.The purchase price was not disclosed.Tags: agriculture, Conference Board of Canada, house building, real estate, BC Real Estate Association, Canada Mortgage and Housing Corp.
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