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Vancouver’s Chinatown is going through a change, a change for the good. Two proposed project on opposite corners of Keefer and Main street: 189 Keefer and 611 Main street.
189 KEEFER
The 189 Keefer proposal is one of a handful of important projects going on in the neighbourhood. The building, located at Main and Keefer will be 10 floors tall containing 81 residential units and retail at grade. The developer for the project is Solterra and architect is Raffi.
In order to preserve character both developers and architects need to add elements of the neighbourhood into their developments in Chinatonwn.
611 MAIN
The proposal is for a 17-storey mixed-use commercial and residential development with an underground parking garage. The proposed development is comprised of 9,225.9 sq. ft. (875.1 sq. m) of ground floor retail, 16 floors of residential with 26 units of seniors housing and 145 units of market housing, and 1,828.9 sq. ft. (169.9 sq. m) of amenity space. The proposal will include 76 parking stalls, two loading spaces (Class B), and 215 bicycle stalls.
At 17 floors, this residential tower by Westbank (developers of the fine Woodward’s towers in Gastown) almost approved by the city. Once complete it will be the tallest tower under the city’s new height guidelines for Chinatown. The tower will be located at Main and Keefer.
Designed by W.T. Leung Architects, the building ties in nicely with the neighbourhood. The 7 floor brick podium on Main street is quite impressive and the additional floors will be set back, thus allowing a more human scale to take form at street level.
What do you think about these proposed development?
Vancouver, BC April 13, 2012.
The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service®(MLS®) in BC declined 26.5 per cent to $3.8 billion in March compared to the same month last year. A total of 6,882 MLS® residential unit sales were recorded over the same period, a decline of 20 percent. The average MLS® residential price was $545,959 in March, 8.1 percent lower than in March 2011.
"The spike in consumer demand recorded a year ago was not repeated last month,” said Cameron Muir, BCREA Chief Economis“A marked increase in high-end home sales a year ago pushed up unit sales and skewed average prices higher, so it's no surprise to see fewer home sales and lower average prices in March of this year."
Year-to-date, BC residential sales dollar volume declined 17 per cent to $9.2 billion, compared to the same period last year. Residential unit sales dipped 12.7 per cent to 16,724 units, while the average MLS® residential price edged back 5 per cent to $552,785 over the same period.