Monthly Archives: May 2017

Sky-high condo prices aren’t a supply problem

From the Globe and Mail (Gary Mason), quoting in part:

‘No, there is lots of “supply” in Vancouver and Toronto. That isn’t the issue. It’s who’s getting access to that supply that is a big part of the problem. And it’s also the type of “supply” being built.

Many of the condos being constructed are designed to be purchased by wealthy investors, the Lamborghini crowd. They aren’t being built for a couple of young professionals starting a family. Not unless you consider $1-million for 1,000-square-feet on the 10th floor of a tower in suburban Burnaby, B.C., reasonable. No, somehow, some way, governments need to encourage developers, through incentives or whatever it takes, to start building housing that the middle class can afford.

Right now, developers are getting everything their way. They are putting pressure on local politicians to speed up the approval process so they can erect more towers, more quickly, but they are doing nothing – nothing – about the costs of the units they are constructing. In fact, you could argue they are engaging in activity that is helping ensure the costs keep going up.

It’s ridiculous.’

https://www.theglobeandmail.com/opinion/sky-high-condo-prices-arent-a-supply-problem/article35091277/

EDITORIAL: Health and wealth

Editorial in the North Shore News today:

Source: EDITORIAL: Health and wealth

We celebrate this week with the District of North Vancouver and the North Vancouver Recreation and Culture on the (phased) opening of the new Delbrook Community Recreation Centre.

A community with a busy rec centre is a healthy community.

The district initially intended to pay some of the $53.5-million cost by selling off some of the old Delbrook land but, facing blowback from the community, council scrapped that plan and citizens will pay down the $28 million in debt and the accompanying interest largely through their taxes.

As municipalities go, rec centres are big, big-ticket items. The City of North Vancouver could be spending three times as much on a replacement for the Harry Jerome Recreation Centre depending on what amenities it will include.

Plenty of people in the aquatics community have questioned the wisdom of building two 25-metre pools within walking distance of each other when pool users from both sides of the city/district boundary say they’d prefer one (much more expensive) 50-metre one.

It’s a crystalline example of how, even with shared services like the recreation and culture, North Vancouverites’ interests are divided by silly borders.

But, as we saw with paying for Delbrook, a council can be persuaded.

On Monday night, the city council is holding a special meeting just to listen to presentations from Harry Jerome’s user groups.

On Tuesday night, the wider community is welcomed to offer their input at a town hall meeting at the Pinnacle Hotel. We encourage everyone to show up and help shape the rec centres that will keep them in shape.

– See more at: http://www.nsnews.com/opinion/editorial/editorial-health-and-wealth-1.19669793#sthash.oVwJCmny.dpuf

Full CNV report details: http://www.cnv.org/parks-recreation-and-culture/recreation/harry-jerome-rec-centre