A similar project as Marine Gateway could change the face of Westside Vancouver… quite literally. “The UBC Broadway Corridor: Unlocking the Economic Potential by KPMG LLP.” The report advocates for a 12km subway system to UBC, which is the most costly approach; but probably will have the least impact on the optics of the neighborhood. Another proposal on the table is rapid tram solution, however poses the problem of having to store off duty trams in a large lot. Regardless of the approach, with new rapid transit comes densification of surrounding area. This could translate into increased real estate values for properties around transit stations and decreased in values of far off detached homes, due to increase in supply over time. This is very true of areas around the Ever Green line being built in tri-cities.
Of course Westside Vancouver real estate market is very different than tri-cities, nonetheless this is a trend that a savvy investor should keep in mind. For a more in depth analysis of this opportunity and other trend analysis please contact Kanavero Real Estate Group.
Milad Khavari
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