Quote:
Originally Posted by donk.
@Traum
Nah, there's lots of space to expand
Every single block, on every single street, from downtown to hope, has vacant lots, old run down vacant single story buildings, ready for demo and new towers.
How does Vancouver have 20 cranes in the core, year in, and year out, every year....
Once you hit south Vancouver, or Burnaby, there is literally endless land, and old 110 year old tear downs that developers are begging to get their hands on for condos and townhomes. (Well... Maybe not this year with the "current situation"
Just look at south Cambie, there was "no land" and yet somehow the entire road is turning into stacks of towers
Your statement about Vancouver holding its own is correct tho
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There is plenty of space to build higher density, but the city's zoning policy restricts what builders/developers can and cannot build.
Want to build a high-density condo? Sorry, the city will only allow you to do so in very specific areas. This drives the land values in these areas through the roof. Once these areas are developed, they'll update zoning and release another chunk of land for high density.
As an investor, knowing that the city is restricting the supply of the product I am invested in makes the decision easy for me.