Best revitalizing neighbourhoods to invest in right now? - Page 2

Tetsuo · #21 Posted **Jul 21, 2014, 3:19 AM**

I think Hastings if thinking long term is going to be a solid investment, either SFH or commercial lots fronting the street.

Its cheap right now and would skyrocket if it ever gets a transit line.

I'm personally looking at Gastown/DTES/Chinatown for a studio/living/work space since I appreciate higher ceilings, and I do appreciate the nightlife in the area for someone in their 20's.
Looking at SFH I still havn't decided but am looking towards New West/Surrey/North Delta/Coquitlam/Langley. Lesser extents Burnaby/Vancouver

The problem with the big non pedestrian friendly condos at BrentWood, Surrey Central, Marine, Metro is that the condo supply will keep on growing since there are plenty large lots to redevelop into towers. Oakridge manages to avoid this since the area is surrounded by NIMBYS and small lots.

Just my 0.05 cents

AudiA3 · #22 Posted **Jul 21, 2014, 3:54 AM**

Quote:

Originally Posted by logan5

Hilarious. Anyways, along with new development in the dtes, the privately owned sro hotels are being upgraded and rented out to students, artists, etc. The drug element is being decentralized. With such a large concentration of historic buildings, the dtes will be Vancouver's hippest neighbourhood, despite your scare tactics. You mentioned you were looking to buy in Brentwood, but if you're smart you'll reconsider.

I would absolutely be grateful if DT eastside gets cleaned up, because that is going to make Vancouver even more beautiful. But in the meantime, I do not want to live or even be near that area. That's just me tough, feel free to move there if you wish.

Quote:

Originally Posted by Tetsuo

I think Hastings if thinking long term is going to be a solid investment, either SFH or commercial lots fronting the street.

Its cheap right now and would skyrocket if it ever gets a transit line.

I'm personally looking at Gastown/DTES/Chinatown for a studio/living/work space since I appreciate higher ceilings, and I do appreciate the nightlife in the area for someone in their 20's.
Looking at SFH I still havn't decided but am looking towards New West/Surrey/North Delta/Coquitlam/Langley. Lesser extents Burnaby/Vancouver

The problem with the big non pedestrian friendly condos at BrentWood, Surrey Central, Marine, Metro is that the condo supply will keep on growing since there are plenty large lots to redevelop into towers. Oakridge manages to avoid this since the area is surrounded by NIMBYS and small lots.

Just my 0.05 cents

I would agree with you to some extent that there are plenty of land to build new condos going forward, but it makes a difference living 2mins away from a skytrain station vs 8-10mins walk from the skytrain. The value for the building closer to the skytrain will always be higher given that they are the same quality. Not having a car means that young people will be able to afford higher priced properties' monthly mortgage payments. At some point, land will become scarce for these areas as well.

spm2013 · #23 Posted **Jul 21, 2014, 5:48 AM**

If you bought a house in 1990 (or somewhere in that time period) which area had the most appreciation. Sure it's easy to go for the cheapest, but who knows if it will still be cheap in a decade

Pinion · #24 Posted **Jul 21, 2014, 7:12 AM**

The thing with the DTES is all the organizations that help addicts/homeless are staying put, so there's always going to some element staying there. Fine for a single man but women/families will stay away.

I don't find it scary in the DTES (worked there for a long time) but it is very sad and depressing.

Alex Mackinnon · #25 Posted **Jul 21, 2014, 7:20 AM**

Quote:

Originally Posted by logan5

Hilarious. Anyways, along with new development in the dtes, the privately owned sro hotels are being upgraded and rented out to students, artists, etc. The drug element is being decentralized. With such a large concentration of historic buildings, the dtes will be Vancouver's hippest neighbourhood, despite your scare tactics. You mentioned you were looking to buy in Brentwood, but if you're smart you'll reconsider.

Shhh... Already enough RE agents hawking the DTES. We don't want any more to come screw up the vibe.

whatnext · #26 Posted **Jul 21, 2014, 2:47 PM**

Oakridge isn't being revitalized as much as redeveloped. Still it's the best bet: West Side location, shopping, QE Park, easy access to downtown, airport and UBC.

Marine Gateway will never feel like a real neighbourhood, its some buildings thrown up against an industrial site.

jlousa · #27 Posted **Jul 21, 2014, 5:09 PM**

Chinatown by far offers the most reward per $$$, followed by DTES. Brentwood would be the last on my list followed by Metrotown at this point.
And yes I'm putting my wallet where my mouth is in a very big way

Tetsuo · #28 Posted **Jul 21, 2014, 6:05 PM**

Quote:

Originally Posted by jlousa

Chinatown by far offers the most reward per $$$, followed by DTES. Brentwood would be the last on my list followed by Metrotown at this point.
And yes I'm putting my wallet where my mouth is in a very big way

Share some crystal ball secrets J? ;P

AudiA3 · #29 Posted **Jul 22, 2014, 2:15 AM**

Quote:

Originally Posted by jlousa

Chinatown by far offers the most reward per $$$, followed by DTES. Brentwood would be the last on my list followed by Metrotown at this point.
And yes I'm putting my wallet where my mouth is in a very big way

Yeah, Chinatown seems like a safe bet. After they get rid of all the hobos, that area is going to be highly desirable I am sure.

Does anybody know whether those people who bought in preconstruction condos in Yaletown ended up making money on their purchase or not?

Pinion · #30 Posted **Jul 22, 2014, 2:20 AM**

Quote:

Originally Posted by AudiA3

Does anybody know whether those people who bought in preconstruction condos in Yaletown ended up making money on their purchase or not?

Of course they did. My mom wanted to invest in a $100,000 condo near Urban Fare back in the mid 90s and my dad thought it was a bad idea so it never happened. It would be worth $500,000 now.

AudiA3 · #31 Posted **Jul 22, 2014, 7:16 AM**

Quote:

Originally Posted by Pinion

Of course they did. My mom wanted to invest in a $100,000 condo near Urban Fare back in the mid 90s and my dad thought it was a bad idea so it never happened. It would be worth $500,000 now.

There is no such bargain no more...

SpongeG · #32 Posted **Jul 22, 2014, 7:32 AM**

i remember back in the 90's like 1994 someone i met had just moved here from toronto and yaletown was selling in the 120,000 range and he thought it was too expensive and overpriced and the prices wouldn't stay that high blah blah blah

lol if we only knew

jlousa · #33 Posted **Jul 22, 2014, 3:24 PM**

Quote:

Originally Posted by AudiA3

Yeah, Chinatown seems like a safe bet. After they get rid of all the hobos, that area is going to be highly desirable I am sure.

Does anybody know whether those people who bought in preconstruction condos in Yaletown ended up making money on their purchase or not?

Why would they need to get rid of the "hobos" to see the area highly desirable? Yaletown, Gastown, the westend and even Coal Harbour have hobos and doesn't stop them to being desirable. An area doesn't have to appeal to everyone for it to be desirable and successful. I'll leave you with a quote on the wall of a popular drinking establishment.

Quote:

I live in Gastown by Choice, Those unfamiliar with it's particular allures are entitled to wonder why.

djmk · #34 Posted **Jul 22, 2014, 6:17 PM**

Brentwood be dead last on my list. Soulless with zero amenities nearby. No nice walking (or even sidewalks! near white spot) no cool cafes, no heritage, big box restaurants only, townhouses that butt right onto Loughheed, horrible traffic.....

Lolo would be at the top of my list and I would include all the way up lonsdale to the highway.

Second up and coming neighbourhood IMHO is Burnaby Heights. Lots of gross lots along Hastings are getting rebuilt right now. Lots of character and cool shops.

djmk · #35 Posted **Jul 22, 2014, 6:23 PM**

Continuing with my rant against the brentwood neighbourhood, who was the marketing genius who named OMA? I understand now that the stands for One Madison Avenue but for years I thought I was built for seniors. OMA meaning grandmother in Dutch and German.

csbvan · #36 Posted **Jul 22, 2014, 6:31 PM**

Quote:

Originally Posted by logan5

Hilarious. Anyways, along with new development in the dtes, the privately owned sro hotels are being upgraded and rented out to students, artists, etc. The drug element is being decentralized. With such a large concentration of historic buildings, the dtes will be Vancouver's hippest neighbourhood, despite your scare tactics. You mentioned you were looking to buy in Brentwood, but if you're smart you'll reconsider.

I agree with this. I think that the entire Eastside, not just the DTES, will be home to one of the greatest transformations in Vancouver. Heritage is not something that can be recreated and it is in high demand, suburban condo-based neighbourhoods will be a dime a dozen.

Pinion · #37 Posted **Jul 22, 2014, 6:38 PM**

Quote:

Originally Posted by djmk

Continuing with my rant against the brentwood neighbourhood, who was the marketing genius who named OMA? I understand now that the stands for One Madison Avenue but for years I thought I was built for seniors. OMA meaning grandmother in Dutch and German.

They aren't advertising to people with Dutch and German ancestry.

AudiA3 · #38 Posted **Jul 22, 2014, 6:56 PM**

The area that will appreciate the most are the one that attracts a lot of Chinese buyers. The best example would be Richmond, the city already overtook Burnaby as the 2nd most expensive city in Metro Vancouver.

Quote:

Originally Posted by djmk

Brentwood be dead last on my list. Soulless with zero amenities nearby. No nice walking (or even sidewalks! near white spot) no cool cafes, no heritage, big box restaurants only, townhouses that butt right onto Loughheed, horrible traffic.....

It is very soulless now, but who knows how the neighbourhood is gonna changed after the redevelopment is completed. I guess you don't have what it takes to be a good investor.

djmk · #39 Posted **Jul 22, 2014, 7:01 PM**

Quote:

Originally Posted by Pinion

They aren't advertising to people with Dutch and German ancestry.

maybe not, but there are a lot of 'em around. Almost 20% of this province according to wikipedia.

Not that I care.... my personal funny

Pinion · #40 Posted **Jul 22, 2014, 7:16 PM**

Quote:

Originally Posted by djmk

maybe not, but there are a lot of 'em around. Almost 20% of this province according to wikipedia.

Not that I care.... my personal funny

Yep, but you wouldn't know it looking at the crowds in condo sales centres.

My grandfather was German and my "Oma" was Dutch. I was living in Australia and moved back to Burnaby, coincidentally, to look after her after she had a stroke. But she lived in one of those hideous Vancouver specials, so we moved to the north shore a year later - the last German ethnic alcove (Deep Cove specifically).