Hitting Gold on Vancouver’s Skid Row
August 19th, 2008 Categories: Downtown, Vancouver Housing Market, Vancouver Real Estate
Maclean’s recently published this article on the most notorious slum in Canada getting a millionaire makeover - Vancouver’s Skid Row in Downtown Eastside.
The Pacific Hotel on Main Street is coming down. Next door Ginger the new condo building is selling for as high as $900,000. The unthinkable is happening….Vancouver’s Downtown Eastside is quietly disappearing. The sold signs are everywhere - most along Hastings Street, ground zero of the city’s drug and homelessness crises.
In the past 24 months hundreds of lots have changed hands as developers and speculators snap up deeds to the Vancouver’s so-called final frontier. And some of Vancouver’s biggest players have bought in, including Holborn, the group behind the $500 million Residences at Ritz-Carlton: Westbank Projects, developers of the Shangri-La, the city’s tallest tower and Macdonald Development Corp, which hopes to erect the Downtown Eastside’s first high rise. Concord Pacific is building a glass tower along Hasting’s seediest stretch. Then there’s Salt, a chic charcuterie in Blood Alley. Read the rest of this entry »
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