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I was going to buy in Beverly but ended up buying in Fraser but I sometimes wish I lived closer to the downtown core. It's 40 minutes at worst for me to downtown including my walk but compared to my old 8 to 12 minute commute in Kelowna, it's so freaking far. So I certainly won't dissuade you from buying in Boyle Street. One of my coworkers is about to buy a house west of Commonwealth Stadium which isn't that great of a neighbourhood either but he's hoping for future improvements to the neighbourhood.
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It's important to understand that neighborhood improvements happen painfully slowly, often taking two steps back with one step forward. In inner city neighborhoods you also see that things get better more rapidly when the economy is good, but things tend to get worse when the economy isn't great. While I certainly saw improvements in the Parkdale area during my time there, the progress was painfully slow, frustrating and incremental. Anyone hoping that McCauley or Boyle Street will get much better at a faster pace will be disappointed.
We've now lived in the Capilano are for four years and as with SHOFEAR the difference here compared to where we lived previously is like night & day. The city takes much better care of this neighborhood, we have next to no crime and no disorder, all of our neighbors are fiercely protective and look out for our place when we're away. I don't have to make sure my BBQ is locked up, our alley isn't full of garbage from the slum rooming house across the way, in a nutshell people where we live now give a shit. Too many people in our former area just didn't, and it showed. And a lot of the time it seemed like the city didn't really give a shit either. The house over there was still a good investment for the time I had it but I wouldn't go back there now.
We've got the best of both worlds here in Capilano, we get the substantial benefits of being in a desirable suburban area while having a 10 minute commute from work downtown. A lot of developers are taking note and now we're seeing $900,000 infills being built in our neighbourhood, which helps drive up the value of our place. Sales are slow on those now too, just like central condos, so I agree that at this time, it may be a good time to rent for a while and see where the market goes. The deals on condos are insane in the deep SW at the moment as well.