The Grand opening for the Vancouver Waterfront Phase One is tomorrow. This is a very exciting event for our community as well as for the real estate business. The waterfront is both the conclusion and beginning of Vancouver's urban renassaince. It is the conclusion in that the waterfront was the cap to the efforts begun back in the 1990s. It was the end goal with fixing up the core downtown area up and then busting through to the waterfront.
The waterfront however is also a beginning point. It is a long project that will take many years to build out and it is already and will continue to reshape the skyline of Vancouver into a recognizable cityscape. That leads to companies moving in, conventions and other large events coming to town rather than south of the border, and an overall boost to the local economy.
All of that bodes well for real estate be it commercial, industrial, or residential. The city leaders have decided to push urban density throughout the city and that is good for resale on suburban properties. There will continue to be demand for suburbia and with so much energy going into urban properties that demand will be met in the resale market.
It's all good in the neighborhood.