Marine Drive, North Vancouver – Property Hot Spot

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

New tax rules in British Columbia real estate – what “hasn’t” changed…

Now that things have been clarified regarding new tax rules in British Columbia real estate, we thought it makes sense … Continue reading “New tax rules in British Columbia real estate – what “hasn’t” changed…”

Bowen Island – Property “Hotspots” for Investors

With the new NDP government in British Columbia and their focus on escalating property values and tightening rental markets, some … Continue reading “Bowen Island – Property “Hotspots” for Investors”

Penticton, BC – Property “Hotspots” for Investors

With the new NDP government in British Columbia and their focus on escalating property values and tightening rental markets, some … Continue reading “Penticton, BC – Property “Hotspots” for Investors”

Contact Us

I'm Interested In...