Vancouver’s Empty Condo Theory Exaggerated
June 25th, 2009 Categories: Real Estate News, Vancouver Real Estate
Andrew Yan conducted a study of condo occupancy in Downtown Vancouver. Yan is a planner & researcher with Bing Thom Architects. So who doesn’t live Downtown and how do empty condos impact the future of Urban Housing in Vancouver? The study focused on Downtown, excluding the West End.
Vancouver’s Mayor had talked about taxing the offshore owners who leave their condos empty, and use the monies generated to build housing for the homeless. He speculated that hundreds sat empty.
The study’s results were surprising, even to Yan. “I was thinking the number would be much higher, but it wasn’t”.
“If Vancouverism 1.0 is embodied by tall skinny towers and one bedroom, investor-driven condominium projects for Downtown Vancouver, then Vancouverism 2.0needs to redress this imbalance by providing more affordable family-oriented housing units with great supporting amenities,” concludes Yan. “Without this, the sustainable communities with opportunities to live, work and prosper that the City aspires to are likely unachievable.”
“The biggest questions is what kind of City do we want to live in and what are we willing to do to get there”.
Are you surprised? Comments welcomed.
Did you know you can search for listings on this site? View my other posts on False Creek North. When you’re ready to buy or sell Vancouver real estate , contact Maggie Chandler, an experienced realtor marketing Vancouver real estate since 1981
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