A 55-storey Tower In Vancouver’s West End Has Been Placed Under Receivership At a Glance Developers of a high-profile high-rise project in Vancouver’s West End have been placed under receivership, as they owe $82.2 million to the Bank of Montreal. The project, called 1045 Haro Street, consists of a 55-storey condo tower and a 15-storey … Read more
Economists Foresee A Significant Turning Point In The Housing Market At a Glance Good news for the Canadian housing market! After a cautious year with rising borrowing costs, economists predict a rebound in 2024. This is largely due to forecasts that the Bank of Canada may begin cutting its key interest rate from the current … Read more
Real Estate Lawyers Are Urging Presale Buyers To Exercise Caution Amidst A Wave Of Defaults At a Glance A man in British Columbia lost his $81,990 deposit on a townhouse despite having a contract option to transfer the deal to another buyer. Sudip Sehgall put down the deposit on the yet-to-be-built property in 2021 but … Read more
The Details Of Westbank is Dealing with a Barrage of Lawsuits from Canadian and U. S. Projects Because of Unpaid Invoices Westbank Corp., a well-known Canadian developer with a reputation for ambitious architecture, is currently facing problems with unpaid bills for multiple projects in Toronto and Seattle. Numerous contractors have claimed millions of dollars in … Read more
Feds Declare New Mortgage Charter, $15 Billion In Funding For Housing Construction At a Glance The Canadian government has announced new measures to address the country’s housing crisis, including $15bn in funding for 10-year loans for new rental builds and $1bn for affordable housing construction. The rental funding is expected to spur the construction of … Read more
Up To 6 Homes On Single-Family Lots Are Permitted By The BC Government At a Glance The Government of British Columbia is implementing changes to allow for more low-rise, multi-family residential developments. These changes override municipal government control over zoning and aim to reform review and approval processes. The new policy, termed “small-scale, multi-unit” buildings, … Read more
20 Storeys Close To Every SkyTrain Station & Up To 12 Storeys Close To Bus Interchanges At a Glance The Government of British Columbia has introduced new legislation to encourage high-density, transit-oriented development in the areas surrounding major transit hubs, including SkyTrain stations and bus exchanges. This move aims to combat the housing affordability and … Read more