Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
City council has given the green light to a 20-year ambitious plan to transform 58 hectares of land in Northeast False Creek — once home to lumber mills, a ship-building industry and Expo 86 — into the equivalent of a town the size of Prince Rupert.
The plan, which council approved Tuesday after more than four hours of debate, requires the demolition of the Georgia and Dunsmuir viaducts and construction of a new road network through what will be a maze of new highrises and other forms of housing for up to 12,000 people.
Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis
“This is a very bold plan that really revitalizes what is one of the last waterfront neighbourhoods here in Vancouver,” said Mayor Gregor Robertson, noting the addition of 8,000 new homes, with at least 1,800 devoted to social housing. “It’s an amazing opportunity to build a fantastic new neighbourhood around the stadiums and through where the viaducts are now.”