Squamish Development Update- January 2017

Posted on by Meghan

development-update-january

Squamish is now waking up after a holiday- induced coma and the real estate market is following suit. 2016 was a fanfare of real estate news and activity- the year started with so much demand us Realtors and the local inventory could barely keep up (with some assessments spiking 70% this year!). This pushed prices higher than we have seen before with some neighbourhoods reporting +30 percent gains (read more about price gains in each Squamish neighbourhood). The summer saw the real estate market cool slightly coinciding with several new townhome projects (including Breeze, Soleil and Skyridge) launching.

Here we are at the beginning of 2017 with lots of townhome projects completing this year, a limited supply of single-family homes, and some apartment projects in the pipes over the next few years. On top of this, long awaited decisions about large-scale projects such as the Waterfront Landing, Cheekeye Fan and Garibaldi at Squamish should eventuate this year. So what will 2017 bring? Should we brace ourselves for another crazy Spring? The new year stirrings are certainly indicating an upswing of activity, compounded by the BC Government’s Home Partnership Program which will launch on January 16th, giving loans to qualified first-home buyers.

If you’re looking at buying in 2017 make sure to fill out the Home Buyer’s Wishlist and begin the hunt for the perfect property. Below you will find development news on some of the latest projects here in Squamish.

Anthem Properties Townhome Project

A 70-unit, three-bedroom townhome project looks to be going ahead on the site of the WhistlePunk Hollow Campsite near Brennan Park. The project is undergoing rezoning and official community plan amendment. Anthem Properties is a Vancouver-based development firm which has been involved in over 150 projects in BC, Alberta and California. Watch this space for updates on when the townhomes will launch pre-sales.

Garibaldi at Squamish

Nearly a year after Squamish’s long-awaited ski resort received its environmental assessment certificate by the provincial government, a regional district letter opposing the project has been drafted. The letter clearly states that the region’s growth strategy does not include a destination resort such as Garibaldi at Squamish. The letter, if approved by the Squamish-Lillooet Regional District Board, may put a damper on plans for the long-anticipated all-season resort.

Despite the negative local government sentiment surrounding the development, Canadian Business published an article recently delving into the partnership between the developers behind Garibaldi at Squamish, powerhouse families The Gaglardis and The Aquilinis. According to this article, a master-plan for the development is in the works and the project is still full steam ahead. Public engagement with regards to the project is expected to ramp up this year.

Soleil, Coastal Village

The first phase of Soleil Coastal Village is over 40% SOLD OUT! With three bedroom townhomes starting at $449K this is an excellent investment for those seeking a brand-new townhome in downtown Squamish. Set to complete summer/ spring 2017.

The Main, Squamish

There are still some floorplans available at The Main Squamish. These downtown Squamish condos will be ready in 2018. One bedrooms starting at $329,900. One bedroom plus den starting at $379,900 and two-bedrooms starting at $479,900. The following floorplans still remain F, C, A, B, E, X & Y. See website for details.

Other projects currently available for sale-

Breeze (2017/2018 completion)

Summits View, Eaglewind (2017/18 completion)

Cleveland Gardens (2018 completion)

Seven Peaks (2017 completion, pre-sales launching in Spring)

Skyridge (2017 completion)

Ravenswood (2017 completion, phase one)

As always if you’re looking to buy in Squamish let Move to Squamish/ REMAX represent you. Buyer’s agents act on behalf of buyers at no charge. We specialize in new developments and can help you negotiate the best deal on your new condo, townhome or home in Squamish. Contact us today!

About Meghan

Meghan is a real estate agent who is passionate about connecting lifestyle driven individuals to her vibrant town of Squamish, BC. Meghan was born and raised in Squamish, spent 15 years living abroad, and is now back partnering with her mother Nanci Fulton who has been selling real estate in Squamish for 30 years. Meghan loves representing buyers, welcoming them to her community and helping them find their perfect place to call home.