REAL ESTATE

B.C. STILL BOOMING

Canadian reali estate
market to siow in ’90

AS 1990 cdges neat,
Canada’s commercial cal
estate smurkets appear likely
to maintain their, protracted
tecord of steady growth.

This is the projection of
the 1990) Royal LePage
Market Survey, a com-
prehensive anaiysin atid
forecast of residential and
commercial real estate mar
kets in Canada, released na-
tionally recently.

Royal LePage’s com.
Puterized market data
systems indicate that mast
sectors of the marketplace
will benefit from: a healthy,
albeit moderating, national
economy; considerable
domestic and international
investor interest; and, rea-
sonable levels of business
spending.

Given the diversity of the
marketplace, however, the
Market Survey notes that
not all real estate sectors will
grow at the same pace. In
some locations, the buying
and leasing of commercial
and industrial space will be
impacted by:

elocal and regional
strengths or weaknesses.

© cautiousness on the part
of investors and users of
business accommodation in
response to the uncertain di-
rection of various economic
variables.

a lack of available pro-
duct for sale or lease.

Generally speaking,
Canada’s most active mar:
het. will continue (Co be
located in Toronte and Van-
couver. The ability of these
two cities to attract i diverse
and growing business base

not eniy foster healthy
leasing activity, but continue
to encourage developer and
Investor activity.

in Toronto's office mar-
ket, for example, where
vacancies continue to be
among the lowest in North
America, over 25 million
sy.ft. of space is anticipated
to be added to the existing
134 million sq.ft. of inven-
tory over the next two years,
On the other side of the na-
tion, Vancouver is expcrien-
cing record high fevels of in-
vestor activity and product is
increasingly in limited supp-
ly.

A national survey of of-
fice leasing activity suggests
that demand in 1990 will
continue to be greatest for
quality space in Canada’s
major business cores. A
common problem facing
many centres, however, is
the fimited availability of
core space as well as the
dwindling supply of vacant
land for development.

In locations such as
Torento and Montreal, this
dilemma will prompt an in-
creasing number of devel-
opers and tenants to look for

land and aecommeadation in
the areas immediately sin.
rounding the core. Phis will
fead toa blurring’? of the
tradiiional boundaries witht
the various finsncral cores,

Concurrendy, many large
centres will accelerate efforts
to establish alternative office
nodes within the surroun-
ding aumicipalizies, Phos
trend is particularly
noticeztle in Central Canada
and in Vancouver, where
suburban office growth over
the next (Wo years is exe
pected to be twice as great as
giowth within the core,

Looking to) Canada’s in-
dustrial markets, it appears
that demand ir 1990) wili
equal, or surpass, levels of
new inventory in the miajori-
ty of cemtres. In Toronte,
where the industrial
availability rate in 1990 is
projected to rise moderately,
there will) be increased
pressure on landlords to
‘bargain’ with prospective
tenants during lease negotia-
tions.

As in the office market,
some busisess centres are
experiencing severe shortages
of available industrial land.
In many centres the problem
stems from the fact that land
ownership is concentrated in
the hands of a few devel-

opers. These developers are
See Investors
Page 60

“it was se cold I alinost got
married”

59 - Friday, December &. 1989 - North Shore News

872-3321 IN
Stella Kai

986.8727 ros.
686-5516 pager

Christina Kai

987-6519 res.
686-3111 pagar

CONVENIENT LOCATION PEMBEATON AREA
. 1657 BOWSER 1665 BOWSER
Eycellent value tor brand new house, 3bedrooms | Rind new home with 4 bedrooms, tile entrance,
and den, gus fieplace, enclosed garage, land. { sundeck off master bedroom, landscaped ®
scaped garden, tenced backyard. Asking only | garuen. fenced backyard. Close to a!) ainemnes. B

Bi $259,900 $268,000.

o

CHRISTINA C. KA! 686-3111 pgr., 987-6519 | CHRISTINA C. KAl 684-3111 pgr., 987-6519 B

Wd od Qe ZH
oe ee

2833 NORWOOD AD. 2823 NORWOOD :
Prime location in upper Lansdale. 4 bedroom sew | View of the bridge? & city wants. Prime locatin in
home, still time to choose finistiing. Feature | upper Lonsdate. 4 bedroom, 22 baln, shy lights,
deluxe kitchen, vaulted ceiling in tiving room, | deluxe kitchen cabinets. Lot 40°x712° Will com
skylights, lot size 40x112. Cornplete in Jan. ‘90. } plete in mid Jan. ‘90.
Call STELLA now to view. Call STELLA now to view.

HEART OF
DUNDARAVE

EET Ad OP at

CITY VIEWS

COMPLETION ONL
4 WEEKS AWAY!

$743,000 a SRR . [$585,000 | | AS: ae ‘$559,000

es

STUNNING

CONTEMPORARY DUNDARAVE CONTEMPORARY

CHOOSE YOUR COLOURS NOW!

- 4 bedroom / 5 bath - Large family home
- Extensive millwork - Great tocaticn
and tile/marble

CAREFREE LIFESTYLE

- In great iocation - Nice waiericity view
- 3 bedrooms, main floor den

2333 MARINE DRIVE, W. VAN.

- 3 bdrm, den, family rm— 3 ievel living
— Greal central location - Great neignbourhood

4913 - 22ND STREET, W. VAN. 2210 INGLEWOOD AVE., ‘W. VAN.

ter TEI IID TERT ON ANE IPO PENSAR ar iret na ein wren