East Vancouver

I see the East Van market as a more stable one, meaning that values change more moderately and therefore stay more accessible for move-up or first-time buyers.

The types of homes available have become more diverse from new duplex type homes to townhomes, more condo product and purpose built rental add to the choices available to home buyers and those looking for rental homes.

I think it will be awesome. East Van has a DNA that speaks to a diverse set of humans, and the development trajectory of the various submarkets will only serve to enhance that desirability and authenticity. I don't think it will hinder it.

The compelling aspect of development in East Van is that you see a full spectrum of housing types, from duplex format, through townhouse, to condo and now a substantial amount of purpose built rental housing. Something for everyone.

People who grew up in East Van, who have a connection to the specific neighbourhood that your project is located in; we see lots of people "coming home" or wanting to stay in their neighbourhood. We see investors looking for attainable price points that will be supported by solid rental rates. We see first time buyers wanting to stay in Vancouver close to the community amenities that they love.

The benefit of the new development, and certainly the pre-sale version, is that one can put down a deposit in tranches or chunks throughout the construction process, meaning one doesn't have to come up with, say, 20% right away and incur your actual mortgage. One can secure your home, and in two to four years take ownership and incur your mortgage. It provides a runway to home ownership that one can plan for.

As an aside, when the market is softer, like it is now, is a perfect time to get into a new development, because developers are more likely to be flexible about deposit structure or price, or both!

It's going to sound like a cop-out, but all kinds of humans from those looking to get their first home (many with support from a parent or grandparent), to those looking for a larger home to grow their family into and right at the other end of the spectrum, people from the neighbourhood looking for a future downsize opportunity – particularly if one has great amenities in one's building.

My caution for any pre-sale purchase (or new development) is to know who you're buying from. where you have choice, choose experience. Do your homework and make sure they're well capitalized and have a track record of delivering good quality homes.

Specifically, Peterson's two Kingsway projects; the purpose built rental building on Kingsway and Glen, Revolve, which will be ready for occupancy in early 2025 and Frame, our strata building on Kingsway and Earles, ready for occupancy in early 2026. More broadly, I think the area around the Joyce SkyTrain Station is going to be unrecognizable in a decade, and if I was in the market I would be curious about owning in that node. Comment end

I wish it would have the intended consequence of increasing densities at these nodes, and eventually the Broadway Plan will make an impact on providing more housing in what has got to be the most convenient and highly sought after and livable locations in Metro Vancouver. The policy, as it is currently approved, is so restrictive that much of the potential growth will unfortunately be unrealized unless the policy is revised.

Rapid transit is the number one “thing” we can do to get people out of cars to reduce both congestion and emissions. Along with this infrastructure we see increased density at stations, which makes all the sense in the world. If and when this happens, we would see almost immediate uptake by the development community and an increased level of demand from a broader spectrum of the public. That said, if the same approach as with the Broadway Plan is implemented, we won't see the kind of development and addition of services and amenities that one would expect.

My hope is that there will be more of all types of housing that maintains the DNA of East Van, which is approachable, authentic and attainable to regular humans. I see a diverse, healthy cross section of humans who love their community.