Telling tale of two hotel sales

A bankrupt luxury waterfront property sells to a developer for $5.6 million while B.C. taxpayers pay $14 million for an old motel where the building is assessed at $90,000

Back to the office? No thanks!

More than two-thirds of British Columbians say they do not feel comfortable leaving the safety of their home office to return to work due to the COVID-19 pandemic. That’s according to a recent . . .

West Van condo tower sees fast sales during pandemic

Launched in the teeth of a pandemic, a new 122-unit luxury condominium tower in West Vancouver has pre-sold 54 condos in the last month, including a $6 million penthouse, and the head of its marketing team suggest the success is more than a geographic anomaly.

Trans Mountain starts in Kamloops

A seven-kilometre urban section of the Trans Mountain pipeline twinning project has begun in Kamloops, throwing a lifeline to struggling hotels. Trans Mountain Corp. said in a press release that . . .

Summer camps banned across west

B.C.’s top doctor, Dr. Bonny Henry, announced May 26 that the province has officially banned overnight summer camp to mitigate potential outbreaks of COVID-19. Summer camps for kids have also . . .

Wood high rises gain support

In a May 27 unanimous vote, Vancouver City council approved a staff recommendation to allow mass-timber construction up to 12 storeys for residential and commercial uses, doubling the current . . .

Site C reboots after pandemic pause

BC Hydro will begin increasing construction activities at Site C, its $9 billion clean-energy power project on the Peace River in northeast B.C. The first increase in work will focus on . . .

Housing dip brutal but brief: Realtors

Federal housing agency forecasts sales will fall up to 29 per cent, home prices will plunge and starts could crater 70 per cent this year. Industry experts beg to differ.

KingSett partners on Richmond industrial site

Deep-pocket institutional investors continued to pile into the Metro Vancouver commercial real estate market this spring, as witnessed by the purchase last week of a Gastown office building and the. . .

LNG pipeline B.C. spreads nearly cleared

Clearing for the first two spreads of Coastal GasLink pipeline construction through the Peace region is nearly complete. The Surerus Murphy Joint Venture is building the first two sections of the. . .

Some business better off staying closed

Some Metro Vancouver businesses could be better off staying closed than risk re-opening during the second phase of the B.C.’s government's plan to safely and gradually re-open the economy. “This . . .

Delta mega “agri-hood” finally underway

Building construction has started on the controversial 530-acre Southlands community in Tsawassen, 30 years after the land was purchased and 14 years since a development proposal was first pitched to Delta council

Average B.C. home price now $737,834

A total of 3,284 homes were sold in April, according to new data from the British Columbia Real Estate Association (BCREA) – and the average price was up nearly 8 per cent from a year earlier. . . .

Great unthawing begins as restrictions lifted

Manitoba has moved the fastest in lifting business restrictions due to COVID-19, but all four western provinces have now begun to get back to economic life with an easing of physical-distancing . . .

Rural property search surges during pandemic

Freddie Marks is a specialist in B.C rural recreational property but his phones have lit up with calls from the big city since the pandemic brought on self-isolation and social distancing. “. . .

Forestry, mining firms look past virus crisis

While most B.C. businesses shut down by the pandemic look to the provincial health officer for guidance on when they might cautiously reopen, many resource companies turn more to global markets and. . .

Fashion, travel retailers face highest risk

Vancouver’s retail tenants are expected to have a stronger hand when dealing with landlords after fashion retailers and malls reopen following closures aimed at slowing the spread of COVID-19. . . .

Lease relief: office, industrial less exposed

Office and industrial sectors saw the fewest tenants seeking rent relief in April, while requests for rental help is exploding among retail tenants due to COVID-19 closures, according to a national. . .

Manufacturers swivel to arm front-line workers

At least a dozen Surrey manufacturers, including a brewery, have retooled to produce essential medical and personal protective equipment (PPE) during the pandemic. The companies have the capacity. . .

B.C. restaurants could start reopening May 1

B.C. restaurants could be allowed to open their dining rooms as early as next month, although the provincial government has made clear that any loosened restrictions will come from provincial . . .

Steve Nash Fitness World hunts for buyer

The company behind Steve Nash Fitness World and Sports Clubs (SNFW), which owes more than $35 million to creditors, has put the business up for sale. Under protection from its creditors, the . . .

"Nightmare on Main Street" as May rent looms

In what Laura Jones is calling a “nightmare on Main Street” nearly 60 per cent Canadian small businesses say they will not be able to pay rent May 1 on their commercial properties due to the COVID-. . .

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