Marine Drive, North Vancouver

In 2012, North Van’s new Official Community Plan identified several new areas to densify as village centres. Marine Drive links several of these, and the area between the Lions Gate Bridge and Lonsdale has seen considerable attention from purchasers and developers recently. As the western entry to North Vancouver, it is developing into a mixed-use corridor active with pedestrians. Long gone are its days of “strip mall” orientation.

Many ageing properties have been redeveloped but many opportunities still exist. Retail at grade, interspersed with other commercial uses and residential above, has given this area a bright future and property values are climbing accordingly. Areas such as Lonsdale, are becoming saturated in terms of redevelopment, and this next location of attention is definitely attracting interest. Transit service to the Marine Drive area is good and the amenities of Lonsdale to the east and Ambleside to the west is attractive.

Commercial property prices are starting to take off in the area in the last 6 months. Sales at about $250-280 per buildable square foot are being achieved, as compared to double that in areas such as Broadway in Vancouver, which acts as another back office space area for Downtown Vancouver. Lower Lonsdale prices just to the east have been reaching $470-500 per buildable square foot, so a comparative advantage definitely exists in this area. Whether it be a strategy to redevelop or sit and hold, this area is definitely worth looking at.

Keep up to date

To be updated regularly with what’s happening in BC, simply click Property Hot Spots in Vancouver.

Or simply complete the form below for one of our specialists to contact you.

Related News

Greater Vancouver’s Newest “Hot Spot” – Burnaby’s Metrotown

With all of the talk and activity regarding Vancouver’s commercial sector, there is a nearby area that is flying a … Continue reading “Greater Vancouver’s Newest “Hot Spot” – Burnaby’s Metrotown”

Greater Vancouver – Top 10 fastest growing office market

Recent studies are showing a decreasing vacancy rate in commercial and office properties in Greater Vancouver. One study found that … Continue reading “Greater Vancouver – Top 10 fastest growing office market”

Trump in Downtown Vancouver

Metro Vancouver is the best hotel market in Canada, according to HVS International, but 2017 will see residential action shadowing … Continue reading “Trump in Downtown Vancouver”

Contact Us

I'm Interested In...