City Conversation # 39: Today City Council voted for the proposed alignment of the UBC SkyTrain through the Jericho Lands—my alternative title, "The End of the Beginning," was not to be.
Hi Brian thanks for speaking at this meeting as usual well thought out and filled with facts that should get any councillors attention. The fee they want to impose will simply crush any hope of smaller scale buildings, developers building towers can absorb that cost mid rise construction can not.
I have a question for you that is off topic but as someone who is actually taken time to review the cities plans and impacts and voice an opinion whenever possible ( the city doesn’t allow for many possibilities) I like to know your opinion.
When will all these projects start and when will they be completed? I know south false creek can not fully proceed until the land lease is up in 15 years but I have no idea about the other projects.
The reason I am asking is I might want to sell before my retirement in 15 or 20 years. At that point people will realize the city basically built the projects for anyone below 15 stories with expensive apartments in the sky. Property values for those of us with nice low rise condos will tank as the neighbourhoods will no longer be desirable.
Everyone around me thinks they are set with the nice yearly increases in their properties values they are all getting. No one is looking at what is really going on, they are going to be surprised when all their dreams of a great retirement crumble.
Once again thanks for all your hard work on these issues no one will ever tell you, you didn’t warn them.
Thank you Brian, an excellent presentation
Thanks for sharing. I believe that what will be done will be whatever will make the most money in property taxes although, the increase in revenue will be eroded by massive costs to updates in infrastructure. I don’t live in Vancouver anymore but I did for most of my life and am a 3rd generation Kits kid! I’d like to know if anything further can be done to stop this before the election. It sickens me!
Let’s dust off the key elements…
Speculation problem? Tax it at $332/sf—more revenues for City Hall!
Like the 'empty homes tax' these moves by government are nothing more than a money grab. The punitive taxes will not deter off-shore capital from landing on these choice sites. They will be written off as 'the price of doing business' by folks overseas used to paying off government bribes.
So, any government action resulting in more government revenues has to be exposed for what it is—lying to the citizens.
The 'mix' of tenures is also laughable:
4% BELOW MARKET RENTAL
6% MARKET RENTAL
90% MARKET FOR SALE
We really are 'in through the looking glass' here. Once Upon A Time, the following mix was considered as appropriate in Vancouver (by TEAM 1.0 in False Creek South):
33% TARGETED TO MEDIAN HOUSEHOLD INCOMES
Look at those numbers again and wonder out loud who is driving the train, and where that train is headed. 96% of Vancouverites are being shut out of the housing market by their very own government!
It is all coming to a head at the next election.
The last election saw only two Councillors re-elected. The Mayor and 8 other Councillors shown the door. THAT made it a change election.
Or did it?
Is there ANY difference between this Council and the one they replaced in almost 1 for 1 manner? No. Forecasts are that housing prices will grow from 7-times over affordability to 8-times over affordability by election time.
So, we face another 'change election'. Citizens must turn out and vote the bums out again.
With a new majority on Council, these 2050 plans can be exposed for what they really are...
Selling our city by the pound to the highest bidder.
Let's throw the bums out, and take a majority on Council! Then, let's give Vancouver back to the people again.
Similar to Margeax, I am wondering when development will start taking over
Point Grey if an election or financial crash do not intervene. I am already going to lose part of my view to the MIRRHP tower at Alma and Broadway. Even if TEAM wins the election, will that have any effect on the Jericho lands given that that is a First Nations development?