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    Latest Broadway Plan Tower Application is for 127 Units at East 14th & Prince Edward

    Bydavid.taylor@colliers.com

    The latest Broadway Plan rezoning application is for an 18-storey tower at 360 East 14th Avenue in the Mount Pleasant area of East Vancouver. The site is located just West of Mount Saint Joseph Hospital. The plan for the site includes: 137 units with 20% of the floor area for below-market rental units; a total density of 6.50 FSR; A building height of 186 ft. This application is being considered under the  Broadway Plan . The architect for the project is Stuart Howard. The full application can be viewed here: https://www.shapeyourcity.ca/360-e-14-ave Comments are closed.

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    Infill Condo Tower Proposed for West Vancouver Apartment Property

    Bydavid.taylor@colliers.com

    Wall Financial has submitted a preliminary development proposal for a property they own, known as ‘Peter Wall Ambleside’ at 1552 Esquimalt Avenue in the Ambleside area of West Vancouver. The proposal is the latest iteration of several proposals to densify the 1.90 acre site over the years, beginning as far back as 2016. Previous plans included new rental infill but the most recent version was placed on hold pending the outcome of the Ambleside Local Area Plan. The existing 20-storey apartment building was constructed in 1969 and contains 185 rental units. It is located on the east portion of the site. The new application envisions a 19-storey condo building (secured as rental units for the first 6 years). Details include: 139 condo units (secured as rental for a 6-year term) 68 one bedrooms 68 two-bedrooms 3 townhouse units a total density of 3.0 FSR across the entire site. The architects for the project are JOG Architecture and Chris Doray.

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    Two rental housing towers up to 29 storeys, featuring a grocery store, approved for Robson Street

    ByKenneth Chan

    The 1500 block of Robson Street in downtown Vancouver’s West End neighbourhood will see a substantial uplift through a new mixed-use rental housing project with substantial commercial retail uses. The City of Vancouver’s Development Permit Board recently approved GWL Realty Advisors’ (GWLRA) application to redevelop 1525-1555 Robson St. — nearly the entirely city block at the northeast corner of the intersection of Robson and Cardero streets. Building Permit Applications were subsequently submitted in May 2025 to demolish the 1949-built, two-storey commercial building on the west side (1525 Robson St.) of the development site — formerly home to Jang Mo Jib Restaurant. The development site also includes the 1965-built, six-storey office and retail building mid-block, on the east side (1555 Robson St.) of the site. Designed by architectural firm Arcadis, there will be two high-rise towers reaching 324 ft. with 28 storeys and 318 ft. with 29 storeys, generating 393 secured purpose-built market rental homes — including 100 studio units, 179 one-bedroom units, 101 two-bedroom units, and 13 three-bedroom units. The two-storey base podium would be dedicated to commercial uses totalling about 41,000 sq. ft. including a 24,400 sq. ft. grocery store — largely located on the second level, with entrance located at the intersection corner — and about 16,600 sq. ft. of smaller commercial retail/restaurant units, which would activate the building’s ground level with Robson Street. Site of 1525-1555 Robson St., Vancouver. (Google Maps) Site of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) During the Development Permit Board meeting, Matt Shillito, the City of Vancouver’s director of special projects, called this project “much needed” for its significant infusion of rental housing, and highlighted the new major retail uses “along a stretch of Robson that’s looking pretty tired.” “I think it achieves a lot on a relatively tight site. In terms of the architectural approach, I think it’s very thoughtful. I like the nice kind of compact tower floor plates. I like the way the podium has been kept low profile, nice clean lines, and it manages the slope very efficiently, very effectively,” said Shillito. “I like the way the podium has been kept low profile, nice clean lines, and it manages the slope very efficiently, very effectively. With the CRUs at the ground level and then the grocery store above, it’s all neatly housed.” Lon LaClaire, general manager of engineering services for the City of Vancouver, added, “These services are going to be welcome in the area, and I think that the new building is going to be a really great addition to the area.” But Shillito, while also acknowledging that this is a subjective matter, suggested that the development team should consider the possibility of providing the facade design with a lighter tone, as opposed to the current concept using “very dark” materials, which creates a look that is “a little heavier than it otherwise could be.” The development permit application was the project’s first and primary approval, as a rezoning application was not necessary, given that the project aligns with existing policies for the site. October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) Most of the discussion over this application during the meeting focused on the dedicated freight/truck loading space required for the commercial uses, particularly the grocery store. The panel ultimately agreed that the larger and more intensive requirement of Class C loading — creating designated loading space for a large semi-trailer — would not only be unnecessary for a mid-size grocery store, but also challenging given the tight urban environment. Furthermore, similarly-sized grocery stores integrated into high-density, mixed-use developments in and around downtown Vancouver only have Class B loading spaces, which accommodate smaller single-unit trucks and other medium-sized vehicles. For this reason, the panel agreed to only require a small increase in Class B loading capacity. With the existing Safeway and Whole Foods Market situated on the city blocks just to the west, this would be the third grocery store in Lower Robson. Four underground levels would contain over 250 vehicle parking stalls, including 198 stalls for rental housing residents, 20 stalls for residential visitors, and 33 stalls for commercial uses. This is in addition to over 600 secured bike parking spaces. The total building floor area is pegged at about 324,000 sq. ft., establishing a floor area ratio density of a floor area that is 9.6 times larger than the size of the 33,600 sq. ft. development site. This project falls under the City’s West End Community Plan. 2024 preliminary conceptual artistic rendering of the redevelopment with two towers at the combined site of 1525-1555 Robson St., Vancouver. (GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) October 2024 artistic rendering of 1525-1555 Robson St., Vancouver. (Arcadis/GWL Realty Advisors) GWLRA is the real estate investment subsidiary of the Great-West Life Assurance Company, which is one of Canada’s largest private insurance firms. In March 2024, GWLRA acquired the 16,400 sq. ft. site of 1555 Robson Street from VivaGrand Developments in a deal worth $58 million, according to records. This purchase enabled GWLRA to form a land assembly with its September 2022 acquisition of the similarly sized adjacent site at 1525 Robson St.

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    NDP on TMX pipeline: We didn’t want it. They built it. So let’s use its full potential

    ByVaughn Palmer

    Article content Eby and Sharma exaggerate the degree to which the TMX is “underused … with capacity to spare” after one year of operation. Article content The Canadian Energy Regulator reports that the line has operated at about 80 per cent of its 890,000 barrel-per-day capacity since coming online in May 2024. Moreover, the performance improved in the first quarter of this year. Article content “The pipeline ran at about 85 per cent capacity during the three-month period ending in March,” Chris Varcoe reported in the Calgary Herald this week. The Globe and Mail’s Emma Garney further reported that the line “hit a high of 90 per cent” in March. Article content The demand is such that Trans Mountain has already begun test work to boost capacity by up to 10 per cent by the end of 2026. A longer-term project would add pumping stations to boost it to 1.14 million barrels a day, later in the decade. Article content So much for the B.C. NDP notion that the $34 billion pipeline is languishing through insufficient use. Article content Article content But rather than consult the country’s energy regulator or the national newspapers, perhaps Eby and Sharma were taking their lead from Steven Guilbeault. Article content Guilbeault served as environment minister in the Justin Trudeau Liberal government, where he flourished as a fan of carbon taxation and an opponent of fossil fuel expansion. Article content Carney reassigned him to the Canadian Heritage Department at about the same time as the PM reduced the carbon tax to zero and began talking up the need to expand resource production. Article content It didn’t stop the new heritage minister from wandering outside his lane last month to announce that Canada has no need of more pipelines because TMX was operating at “40 per cent capacity” and the world was approaching “peak oil production.” Article content In the first instance, Guilbeault clearly didn’t know what he was talking about and in the second, there’s much room to debate about when peak oil will be reached. Article content Article content Still, there is a capacity issue regarding the TMX terminal in Burnaby, though not one that involves the pipeline. Article content The terminal is already busy with tankers, having loaded some 741 in the first quarter of the year at a rate that fell just short of one a day in March. But tankers are unable to load fully because of the risk of grounding in Burrard Inlet. Article content The New Democrats have recognized the limitation and come out in support of a federal proposal to dredge Burrard Inlet to a depth that full tankers can traverse. Article content Leading the call is Energy Minister Adrian Dix. As NDP leader, Dix’s snap decision to oppose TMX in the midst of the 2013 election campaign contributed to his loss to Christy Clark. Article content Now that the line is running, Dix supports maximizing its use. “We built it. We paid for it. We should use it,” he says, taking a realistic view of a project that cost him much. Article content Article content Article content

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    7 factors to carefully consider for the Granville Strip’s revitalization

    Bymichael

    There is no question that the City of Vancouver’s long-term master plan to revitalize the Granville Entertainment District has the potential to be a transformative game changer for downtown. This week, with the possibility of some amendments, Vancouver City Council will approve the Granville Street Plan — a comprehensive framework that sets the stage for high-density, mixed-use developments that largely complement entertainment-focused uses, alongside significant upgrades to public spaces along Granville Street between West Georgia and Drake streets. The plan also calls for major traffic changes: Granville Street would be fully closed to all vehicles, including TransLink buses, to create a vibrant, car-free, pedestrian-only corridor designed to support events and street-level activity. But let us be clear — while improved public spaces are important, they are not enough and could be a distraction from the core issues. The Granville Strip’s decline has not stemmed from a lack of wide sidewalks, seating, and other fixtures. It is largely an economic problem rooted in years of disinvestment, high commercial vacancy rates, and a failure to adapt to changing patterns of nightlife, retail, experiential attractions, and entertainment — all of which are compounded by a range of public safety concerns, both real and perceived. When examining the economic roots of the Granville Entertainment District’s decline, much of it can be traced back to the decline and closure of its once-thriving cinemas. While the street’s downturn has been a gradual process over several decades, it was the loss of these major anchors that truly tipped the scales, triggering a steady erosion of foot traffic and economic vitality on the Granville Strip. Until the early 2000s, large multi-screen theatre complexes like the six-auditorium Capitol 6 and the seven-auditorium Empire Granville 7 were major draws for the Granville Strip, bringing a steady flow of people of all ages throughout the day and into the evening. Combined, just these two cinemas, not including others nearby, had a combined seating capacity for approximately 5,000 theatre-goers — each with a capacity of around 2,500 — anchoring Granville Street as a vibrant entertainment destination. But over time, the older multiplex theatres in the Granville Entertainment District struggled to compete with the rise of modern stadium-style cinema complexes elsewhere in the city centre and Metro Vancouver. This trend led to the closure of Capitol 6 in 2005 to make way for the Capitol Residences tower, completed in 2011. Around the same time, the new Scotiabank Theatre (originally named as Paramount Theatre) opened just a few blocks away on Burrard Street, drawing foot traffic away from the entertainment district. It is worth noting that the massive Capitol 6 complex was not actually located on the Granville Strip itself. While its entrance was on Granville Street, all of its auditoriums were located on an adjacent large building spanning nearly half a block on Seymour Street, connected by an enclosed pedestrian bridge over the laneway. The Orpheum Theatre, previously used as a cinema before its current use for live performances, follows a similar configuration — its auditorium of heritage significance is situated on Seymour Street, while its iconic Granville Street entrance is linked by a footbridge as well. As for Empire Granville 7, its auditoriums were contained within an almost half block parcel of Granville Street. It gradually faded into irrelevance and ultimately became the Granville Strip’s last theatre, until its closure in 2012. The site remained dormant for years until late 2024, when Cineplex’s The Rec Room finally reached completion and opened, marking a long-awaited return of entertainment programming to the large property on the Granville Strip. Time-lapse video of the demolition of Capitol 6 Theatre in 2006/2007: Empire Granville 7 theatre at the Granville Entertainment District before its closure. (Google Maps) Will this actually catalyze new development worthy of the entertainment district? All of this leads to the first major question: Will the new development allowances outlined in the Granville Street Plan actually motivate property owners and developers to move forward with truly ambitious building projects worthy of the entertainment district? If the Granville Street Plan is to be successful, the revitalization must begin with creating major anchors — a critical mass of destination attractions, modern performance venues, vibrant nightlife establishments, and experiential retail. These are the kind of uses that once made the Granville Strip a cultural and entertainment powerhouse. As downtown Vancouver continues to densify and most surface vehicle parking lots and easily developable sites off Granville Street have already been built out, the solution now lies in embracing significant verticality for the entertainment district’s evolution — a shift made possible by the new plan, which replaces outdated policies that previously restricted the economic viability of new contemporary developments with enhanced commercial and entertainment uses. Moreover, verticality is a practical necessity due to downtown Vancouver’s relatively tight urban fabric. The city’s already small blocks are further constrained by laneways that bisect most blocks, making development parcels even narrower and more challenging to develop. These physical limitations can restrict the scale and types of projects that can be built — unless greater height is permitted. The Rec Room Granville at 850 Granville St. (Kenneth Chan) The Rec Room Granville at 850 Granville St. (Kenneth Chan) For example, permitted added building height could have theoretically given Cineplex the flexibility to consider building a larger Empire Granville 7 redevelopment — one that not only accommodates Western Canada’s flagship The Rec Room, but also includes

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    Two rental housing towers eyed for Kingsway near Fraser Street in Vancouver

    ByKenneth Chan

    Nearly four years ago, a rezoning application was approved to redevelop the southeast corner of the intersection of Kingsway and Carolina Street — situated on the southernmost border of the Mount Pleasant neighbourhood of Vancouver — into a six-storey, mixed-use building with 80 secured purpose-built market rental homes. But the project — which was one of the larger rental housing proposals in Metro Vancouver at the time, prior to the current wave of proposals — did not proceed as planned. As it turns out, this is because the project was being redesigned for a much larger mixed-use rental housing concept under the prescriptions and stipulations of the City’s Broadway Plan. A new rezoning application has been submitted to redevelop 602-644 Kingsway and 603-617 East 16th Ave., which entails a larger development site than the original concept — growing the available footprint by 50 per cent to over 30,000 sq. ft. The project is just west of the prominent intersection of Kingsway and Fraser Street. The original north site entails old low-rise commercial buildings, including a former funeral home building, while the addition of a south site includes a surface vehicle parking lot and low-rise residential and commercial buildings. Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Google Maps) Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Cancelled 2020/2021 concept: Current condition (top) and 2020/2021 cancelled concept (bottom) of 602-644 Kingsway, Vancouver. (Studio One Architecture) 2025 revised concept: 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Under the new application, local developer Bonnis Properties has partnered with architectural firm Perkins&Will to pursue a 167-ft-tall, 14-storey north tower and a 276-ft-tall, 25-storey south tower. The proponents are pursuing a new concept with two high-rise towers, after determining that a project with three towers would not meet the minimum tower separation requirements from an adjacent lot on Kingsway. There will be a total of 327 secured purpose-built rental homes, including 120 units in the north tower and 207 units in the south tower. Based on the Broadway Plan’s requirement of setting aside at least 20 per cent of the residential rental floor area for below-market units, there will be 66 below-market rental homes and 261 market rental homes. The unit size mix is established as 152 studios, 47 one-bedroom units, 105 two-bedroom units, and 23 three-bedroom units. 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) The north and south towers will be physically connected on the second level by a pedestrian bridge over the laneway that separates the two sites, enabling continuous shared amenity spaces between both buildings. Expansive indoor and outdoor amenity spaces will be found on the second level — including landscaped outdoor areas on the base podium rooftops — along with outdoor amenity spaces on the rooftops of both towers. The rooftop of the north tower’s podium also features a 2,900 sq. ft. childcare facility for up to 20 kids, plus outdoor play space. Down below, about 19,400 sq. ft. of retail/restaurant space spread across the ground levels of both buildings will activate the street frontages and a new public plaza. This triangular-shaped plaza space — a public space element passed down from the original concept — will be achieved by repurposing a 70-ft-long segment of East 15th Avenue and median that parallels Kingsway. 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) The floor plates of both towers rising above the podium are curved to strategically place the structural columns along the perimeter of the floor plates, which serves to optimize the views from the residential units and enable a more efficient unit layout. The exterior design is defined by a 40-60 window-to-wall ratio, with protruding balconies protected by steel picket guard railings. Four underground levels at the north tower site will accommodate 141 vehicle parking stalls, while two underground levels at the south tower site will provide over 600 secured bike parking spaces. Altogether, the project will generate a total floor building floor area of over 257,000 sq. ft., establishing a floor area ratio density of a floor area that is 8.5 times larger than the size of the lot. The site is well served by frequent bus routes along Kingsway, Fraser Street, and Main Street, and about a 15-minute walk from SkyTrain’s future Mount Pleasant Station (intersection of Main Street and East Broadway). Under the Broadway Plan, high-rise tower developments are generally

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    Eby fires back at Ford over suggestion B.C. would accept 2nd oil pipeline

    ByGlobalnews Digital

    By Wolfgang Depner The Canadian Press Posted June 3, 2025 8:26 pm 1 min read 2:31 Are pipelines a realistic part of Carney’s ‘nation-building’ projects? Prime Minister Mark Carney says he wants to quickly approve “nation-building” resource projects in an effort to boost Canada’s economy. David Akin explains whether it’s realistic to see new pipelines built anytime soon, and the challenges in getting other big resource projects approved. B.C. Premier David Eby says he won’t be throwing his support behind a new oil pipeline through the province, dismissing Ontario Premier Doug Ford’s suggestion that Eby would change his mind. Eby says in response to Ford’s remarks on Monday that the publicly-owned TMX pipeline is already running through B.C., and the province doesn’t support lifting the ban on oil tankers off British Columbia’s northern coast. 1:58 Premiers talk possible new pipeline out west He says it’s not his job to tell Ford it’s “extremely unlikely” there will be a tunnel under Toronto’s Highway 401, or tell Alberta Premier Danielle Smith her “vision” for a pipeline connecting Alberta and northern B.C. is “many, many years off” with no proponent in sight. Story continues below advertisement Eby says his job instead is to protect the interests of British Columbia by bringing forward “shovel-ready” projects. 2:17 Danielle Smith’s pipeline push at premier’s meeting gets support from Carney Trending Now Ford had said heading into a meeting between premiers and Prime Minister Mark Carney that he was confident Eby and Carney would “work things out” regarding a second pipeline. Get daily National news Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Eby was speaking Tuesday from Osaka, Japan, on a 10-day trade mission in Asia, and deputy premier Niki Sharma represented B.C. at the meeting of premiers in Saskatoon. &copy 2025 The Canadian Press Sponsored content

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    Vancouver falls down the list of top cities in the world for 2025

    Bymichael

    Vancouver is known around the world thanks to top attractions like the Honda Celebration of Light and award-winning dining spots. However, a new ranking has revealed the city is slipping a bit compared to its peers. The Oxford Economics Global Cities Index has released its report for 2025, which is a holistic ranking of the 1,000 cities included in its Global Cities Forecasting Service. Cities are scored across five categories to achieve a well-rounded comparison of locations. The five categories are Economics, Human Capital, Quality of Life, Environment, and Governance. Vancouver has made the list once again this year; however, it has slipped a few spots down the newest global ranking. Kenneth Chan/Daily Hive Vancouver came in 20th place last year, ranking 35th in economics, 33rd in human capital, 78th in quality of life, 149th in environment, and 52nd in governance. In 2025, Vancouver dropped 17 places to land in 37th place, with rankings dipping in three categories: 53rd in economics, 52nd in human capital, and 186th in quality of life. However, the city’s score jumped in two categories: it ranked 61st in environment and 27th in governance. “Arguably one of the most picturesque cities in the world, it is no surprise that Vancouver is such an attractive location for many Canadians and international migrants,” wrote Oxford Economics Global Cities Index in its report. “For those who can handle the steep housing costs, there are few other cities that can match Vancouver’s economic strength and human capital.” Charles HHuang/Shutterstock The Global Cities Index covers the 1,000 largest cities in the world, which are located in 163 different countries, including 103 cities in Canada. Toronto ranked as the highest city in Canada on the list at #20, with Montreal coming in at #43, and Ottawa-Gatineau at #88. Calgary landed in #50 and Edmonton settled even further down on the list, coming in at #131. You can check out the full ranking online. With files from Laine Mitchell

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    Vancouver realtors turning down unrealistic clients as home sales lowest since 2020

    ByAmy Judd

    Real estate experts say there is another indication that the real estate market in Greater Vancouver is changing. Vancouver realtor and investor, Steve Saretsky, says the market is becoming so saturated that realtors are turning down listings. “The inventory is stacking up, it’s not selling,” he said. “Which is to say, there are a lot of realtors out there working for free.” Home sales in Greater Vancouver are at their lowest since 2020 and Saretsky said sellers’ expectations in a buyers’ market are not always aligned with reality. This means that listings that may have sold fast and over the asking price now might take more resources and time to close the deal — if at all. Story continues below advertisement 1:36 ‘Sign’ of the times: B.C. real estate signpost company offers credit for return of posts Realtor Roman Krzaczek told Global News that people need to adjust their expectations a little bit. Get daily National news Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day. “It seems like there’s a lot of listings that are being relisted because they didn’t sell last year and people are expecting the same price and that’s not very realistic in today’s market,” he said. Krzaczek said many people do not realize that realtors have to put time and money into selling a home, including spending money on marketing materials. “It cost me about $2,000 to list the property and it’s a lot of work; (it) takes a couple days to get the whole package put together,” he added. He said he has to look at other properties that are available, take photos of the property to list it and complete any reports as needed. Story continues below advertisement Krzaczek said he recently lost a listing because the seller wanted to post the property for higher than what Krzaczek thought it was worth. “Somebody else listed the property now,” he said. “So I wish them luck. Great people. I really hope that they sell because that’s, you know, they really need to move.” Trending Now 2:07 Metro Vancouver condos sitting empty amid housing crisis He added on Monday he saw a listing on Quadra Island drop from the $1.4 million list price to $1.3 million. “My listing, we recently dropped the price from $1.2 (million) to $995,000,” he added. “Big drops in price and beautiful properties, water or oceanfront properties. So there’s definitely some of that happening. And as long as we have clients, sellers that are realistic and they do listen to us, pricing is not a science, it’s more of an art form and I’m fully immersed in the market… If it’s priced well, it will sell. If it is not, it probably won’t sell. Not every listing sells.” Story continues below advertisement Krzaczek said he has not seen price drops like this in the market since he started in the business 10 years ago. “Usually a price drop is $10, $20, $30,000,” he said. “But $130,000 $200,000 drops, that’s huge. So I don’t know what’s happening but it looks like there’s some kind of a price adjustment happening right now.” &copy 2025 Global News, a division of Corus Entertainment Inc.

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    This is how Canada’s new GST cuts on home sales up to $1.5 million for first-time buyers will work

    ByKenneth Chan

    Prime Minister Mark Carney is fulfilling one of the key promises the Liberal party made during the recent federal election campaign, specifically relating to eliminating the federal five per cent Goods and Services Tax (GST) on home prices for first-time homebuyers. “My government has a mandate to bring down costs. We are delivering this mandate by cutting taxes — so Canadians keep more of their paycheques to spend where it matters most,” said the prime minister, with the specific plans for the GST cuts now released following King Charles III’s speech from the throne on Tuesday. This will be applied as a rebate — the First-Time Home Buyers’ GST Rebate. For first-time buyers only, there will be zero GST applied on new homes sold at up to $1 million. For new properties bought at a price of between $1 million and $1.5 million, there will be a reduced GST for first-time buyers and their new homes. This means that for homes priced at up to $1 million, first-time buyers will save up to $50,000 by not having to pay the GST. Buyers with new, more expensive homes will be eligible for a reduced GST rebate, which falls incrementally from home prices of $1 million to $1.5 million. For example, a home price of $1.1 million would be eligible for a 20 per cent rebate of $40,000, a home price of $1.25 million would be eligible for a rebate of $25,000, and a home price of $1.4 million would be eligible for a rebate of $10,000. A “new home” purchase is defined as property bought from a new home by a builder, a self-built home or a self-contracted new home, or an acquisition of shares of a co-operative housing corporation. Individuals are eligible for the rebate if they are adults and Canadian citizens or permanent residents. As well, they must not have lived in a home that they owned or that their spouse or common-law partner owned in the calendar year or in the four preceding calendar years. This existing ownership status consideration exists both within and outside Canada. At least one of the purchasers in a sale must be a first-time buyer for use as their primary residence, with this individual required to occupy the home following the sale. The sale agreement must be made between May 27, 2025 and Dec. 31, 2030. Homes that have yet to be built under the agreement must begin construction before 2021, with substantial completion by no later than the end of 2035. For rebates for owner-built homes, an eligible individual — at least one of the owner-builders who qualify as a first-time homebuyer — can recover up to $50,000 of the GST or the federal part of the rebate. Construction on the property must begin on or after May 27, 2025, with substantial completion by the end of 2036. And as for the rebate through the co-operative housing corporation share acquisition, an individual can similarly claim up to $50,000. The acquisition and construction timelines are the same for this option. This amounts to an adjustment, expansion, and refinement of Carney’s promise made during the election campaign to eliminate the GST on “new and substantially renovated” home sales up to $1 million for first-time buyers. Conservative party leader Pierre Poilievre vowed to axe the GST for new homes up to $1.3 million, accounting for the higher home prices in markets such as Metro Vancouver and Greater Toronto. Carney’s policy move is endorsed by the Canadian Home Builders’ Association (CHBA), which states that they have been advocating for such changes for a long while, and that these regulations have not changed since the introduction of GST in 1991. They say the federal government at the time originally committed to adjusting the GST New Housing Rebate thresholds every two years to reflect changes in housing prices and protect housing affordability over time. But these thresholds have not been changed for about 35 years now. Prior to this week’s policy details announcement, the federal government offered a smaller rebate amount of up to $6,300 or 36 per cent of the GST payment that would be required for a home that costs $350,000 or less. If the home costs more than $350,000, the rebate is gradually reduced, with the rebate reaching zero for a home price of $450,000 and over. “For years, CHBA has been advocating for a change to the GST thresholds on new construction homes to help address housing affordability challenges in regions across the country, and this measure is a very positive step forward for Canadians,” said Kevin Lee, CEO of CHBA, in a statement. “Previously, without details around the implementation of this measure, Canadians wishing to enter the housing market were holding out on buying a new construction home, which results in fewer home starts, so it is encouraging that today first-time buyers can have the confidence to move forward.” But Lee suggests the rebate thresholds should be more expansive to provide a greater number of homeowners with relief. CHBA wants to see the zero GST threshold increased to new home prices of $1.5 million, with the gradual reduction kicking in for prices between $1.5 million and $2 million, which would expand the eligibility for first-time homebuyers in Metro Vancouver and Greater Toronto, where there are higher home prices. They are also urging the federal government to expand the rebate to all new homes