The Lonsdale Avenue corridor of North Vancouver and the surrounding areas are booming with new real estate property developments and the City office is seeing tons of development applications, many of which are for rental buildings. Which is great news as the North Shore has a definite shortage of affordable housing for people and families looking to rent.
In this article we had the pleasure to get information from 2 amazing local professionals in real estate who you can contact below. Enjoy the read and we strongly suggest you contact them to navigate your real estate needs.
New Developments and Development Applications in the City of North Vancouver
The city of North Vancouver has a number of developments recently completed, nearing completion in the next year and in the application phase.
Recently Completed
West 3rd (Lower Lonsdale)
Located at 177 West 3rd Street – this concrete, move-in ready development offers 2 bed, 2 bed & den, 3 bed, and 3 bed & den homes.
Promenade (Lower Lonsdale)
West Coast contemporary community of 117 homes right across the street from Lonsdale Quay. With sweeping views of downtown Vancouver to the south and the stunning North Shore mountains to the north, these homes are laid out with elegance and style.
Green on Queensbury (Moodyville)
A community of meticulously designed 1, 2 & 3 bedroom North Vancouver homes. The developer Qualex – Landmark, has sold out of units however various units are available through resale.
Founder’s Block (Moodyville)
Offers a total of 36 units, 2 and 2 bedroom townhomes and condos and 3 and 4 bedroom townhomes. Developed by Anthem Properties, these homes are being sold as move in ready.
The Lonsdale (Central Lonsdale)
Developed by Hollyburn Properties and offering many different types of condo units and tons of commercial space on the ground level as well as office space on the second floor, great value.
Nearing Completion
The Royals (Central Lonsdale 2020)
Located right off of Lonsdale Avenue and developed by Chard Developers, these 2 buildings will have many rental units and commercial space.
Toppen Ridge (Moodyville 2021)
A collection of 24 townhomes in Moodyville developed by Formwerks. These homes are currently being marketed to the public.
Crest (Central Lonsdale 2020)
Developed by reputable Adera Developments, Crest consists of 1, 2 and 3 bedroom homes off East 8th Street in Central Lonsdale. Construction is currently underway and the development is scheduled to be completed in late 2020. 15% of the units are still available for sale.
Trails (Moodyville 2020)
This development offers 300 three-bedroom garden townhomes and duplexes by Wall group. There is limited availability in Phase 1 of the project, with Phase 2 scheduled to be ready for pre-sale this spring.
Capilano Residences (near Lions Gate Bridge 2020)
With 1, 2, and 3 bedroom homes as well as top of the line finishes, and so much more, from the developers at Maple Leaf Property Management.
Victoria (close to Lonsdale Avenue 2021)
This new project is by Domus Homes and using the architect Birmingham and Wood Architects featuring a 6 storey building with 64 unique homes.
Westwood Homes (close to Lonsdale Avenue 2021) New townhouse development by Cascadia Green Development currently in preconstruction at 1705 Larson Road with a total of 6 units.
Rejected Applications
Red Maple (Lower Lonsdale)
It was slated to consist of a 6 storey building which would include 57 stratafied condos and townhomes. With the rejection, the space on 236 East 6th Street is now in the Application phase for an all-rental development. See below.
Current Applications
There are currently 9 developments under review as applications for the City of North Vancouver. Notice that 7 of the 9 developments are rental applications. The only stratified non-rentals up for application are 402 – 438 East 3rd Street and the Harbourside Waterfront development.
2540 – 2590 Lonsdale (64 units, Rental)
151 East Keith (40 units, Rental)
236 – 254 East 3rd (71 units, Rental)
2612 Lonsdale (26 units, rental)
250 East Keith (281 units, rental)
144 West 21st (85 units, rental)
200 West Esplanade (75 units, rental plus commercial space)
402 – 438 East 3rd (181 stratafied free hold and commercial space)
*only stratafied non-rental up for application
Harbourside Waterfront (Concert Properties is envisioning a dynamic master-plan and mixed-use community. With sweeping views and waterfront trail connectivity complementing a vibrant mix of housing and commercial).
Strata Insurance
If you are currently looking at the resale condo market there are a few things to keep in mind. Especially if you are looking in older buildings, it is extremely important to inquire about the current condition and life expectancy of the buildings plumbing and pipes, the exterior of the building and waterproofing, balcony membranes etc. The condition of the roof and other major mechanical components that could need replacing in the near future and more importantly impact strata’s ability to get insurance.
This is not a serious concern in all circumstances as many strata’s are diligent in maintaining the building and have been planning for years to cover the expenses of these upgrades, furthermore when the projects have been completed it increases the value of all the strata lots within said building. Alternatively it can be a very costly experience if the building is not prepared for the necessary upgrades and could lead to loss of property value if not.