The Vancouver real estate scene is active with significant transactions, new development proposals, and notable personnel changes. From major office tower sales to Indigenous housing partnerships and strategic acquisitions, the market shows continued dynamism. This rundown covers recent headlines, project updates, commercial listings, sales, and key people news shaping the industry.
Key Takeaways
- The BC government paused its Heritage Conservation Act legislation due to public opposition.
- Vancity partnered with Keewaywin Capital Inc. for a $100 million fund to support Indigenous housing projects.
- Several significant commercial properties and development sites have been listed or sold across Vancouver and surrounding areas.
- Notable shifts in leadership and new appointments occurred at major real estate firms.
Headlines Making Waves
The Government of British Columbia has halted its proposed Heritage Conservation Act legislation following considerable public backlash. In a move to support affordable housing, Vancity has initiated a $100 million partnership with Keewaywin Capital Inc., an Indigenous-owned private credit fund, aimed at financing Indigenous housing initiatives.
In commercial real estate news, BGO is set to acquire the Oceanic Plaza office tower located at 1066 West Hastings in downtown Vancouver from Oxford Properties and CPP Investments. Keltic Development has also listed a prime development site at 4444-4488 Kingsway in Burnaby, acquired for $145 million in 2022, with JLL handling the sale or partnership opportunity. Northland Properties has secured all trademarks, intellectual property, and exclusive rights for Denny's Canada. The City of Langley is commencing planning for its Glover Road Innovation District. Meanwhile, landlords of Hudson's Bay are seeking $2.4 million from HBC to cover costs related to a lease dispute.
Project Updates and Developments
Several new development projects are progressing. Wesgroup has submitted a rezoning application for a 12-storey mixed-use rental project at 7525 Cambie Street in Vancouver. A rezoning application for a 17-storey strata project has been filed for 1743 Burrard Street, currently a Petro-Canada gas station site. Ledcor Properties has submitted a development application for a six-storey rental building at 6486 Chester Street in Vancouver.
In Surrey, Genaris Properties is planning a 25-storey mixed-use tower at 14010-14054 104 Avenue. Landa Global Properties has opened registrations for SIENA, a Burnaby project acquired last summer. QuadReal is proposing two towers, 44 and 56 storeys, at 2901 Bayview Avenue in Toronto as part of its Bayview Village master-planned community.
Commercial Listings and Sales
On the commercial front, Lennard Commercial Realty has listed 2803 W Broadway, a commercial property in Vancouver's Kitsilano neighbourhood. Avison Young is marketing a long-term ground lease redevelopment opportunity at 11480 River Road in Richmond on behalf of the Vancouver Fraser Port Authority.
Recent sales include a 19-unit multi-family property at 214 Agnes Street in New Westminster, sold by Lennard Commercial Realty. Marcus & Millichap and Tetra Realty Advisors handled the sale of the Fraser Gateway Centre in Chilliwack, a newly developed commercial property featuring a hotel and retail space. Colliers facilitated the sale of the 177-suite Royal Scot Hotel & Suites in Victoria. In Victoria, NAI Commercial sold the Days Inn by Wyndham Victoria Uptown and the Robin Hood Inn & Suites. Long Lake Plaza, a retail centre in Nanaimo, was also sold by Avison Young and Tetra Realty Advisors.
People in the Real Estate Industry
Significant personnel changes are underway. Jim Szabo and Tony Quattrin are stepping back from day-to-day operations at CBRE Vancouver’s National Investment Team, taking on Executive Chair roles, with the team now co-led by Duncan MacLean and Cynthia Jagger. Robert Horvath has been appointed President of Metro-Can Construction. Josiah Siemens is now CFO at Stober Group, while Adam Frizzell has been promoted to SVP at Cushman & Wakefield. Stephanie Yeargin is now VP at Avison Young. Michelle Child joins Advantage Capital Group as VP, and Mina Smidstra is the new Director of Retail Leasing at Morguard. Juliet Van Vliet is Manager of Planning at UVic Properties. Thomas Fyfe is promoted to Development Manager at QuadReal, and Kloe Wong is Assistant Project Manager at Concord Pacific. Monty Virk joins Colliers as a Research Coordinator, and Lucas Chavez is promoted to Associate at London Pacific. Liza Bauer is promoted to VP of Property Management at Concert Properties in Toronto.
Hiring Alerts
Several organizations are actively recruiting. Brightside Community Homes seeks a Real Estate Project Coordinator. Cascadia Green Development is hiring a Manager of Marketing & Sales. Mosaic Homes is looking for a Real Estate Development Analyst. Kasian Architecture is seeking Senior Project Architects.
Looking Ahead
Surrey City Council is expected to approve amendments to its DCC policy to align with provincial deferral changes. The council will also consider a potential upzoning of the Royal Heights Park neighbourhood.
Reading List
- Cushman & Wakefield Q4 2025 Debt Market Insights
- Out of Reach: Unlocking Canada’s housing affordability crisis
- Canada Flexes on Global Stage With an Eye to Its Own Survival
- Team Trump Is Livid After Canada’s Carney Calls Out U.S. Coercion
- To Make Homes Affordable Again, Someone Has to Lose Out
