Doug Atkins’ Post

When Burnaby City Council first approved the master plan for the redevelopment of the old Brentwood Town Centre in 2013, it triggered one of the first major transit-oriented developments of Metro Vancouver’s traditional suburban malls, reported Daily Hive. "The 2013 master plan approval granted SHAPE Properties the ability to pursue up to 7.96 million sq ft of total building area in their redevelopment, now known as The Amazing Brentwood. This included 3.87 million sq ft of commercial uses — retail, restaurants, and offices — and 4.09 million sq ft of residential uses, with the developer primarily planning to build condominiums." "But now, a decade later, the developer is looking to more than double the amount of strict residential uses found on the 28-acre development site next to SkyTrain Brentwood Town Centre Station and the core of the city’s Brentwood district." "The municipal government is currently in the process of seeking Shape Properties’ revised master plan to add 4.67 million sq ft of strict residential uses, with at least 50% — or 2.36 million sq ft — required to be secured purpose-built rental housing." "No changes or additions are proposed for commercial uses, although City policies enable 49% of the commercial density to be used for secured purpose-built market rental housing (“commercial residential rental”) if the remaining 51% of the commercial density is used for traditional commercial uses such as retail, restaurants, offices, and hotels. This potential means the additional overall residential uses could exceed 4.67 million sq ft." https://lnkd.in/gPm8aAxS #burnaby #mixeduse #development

PRICE REDUCED: 12028-12032 W. Venice Blvd., Los Angeles, CA 90066 Sale Price: $3,295,000 Building Sq.Ft.: 6,194 Land Sq.Ft.: 8,248 Price Per Sq.Ft. (Building): $532.00 Zoning: LAC2 Located one block from the Mar Vista Farmer's Market is this rare Venice Blvd retail and residential building with an easy cap rate of 6.7% without relocating any residential tenants. The property currently has six residential 1-bedroom apartments, two retail stores, four office suites, and two single car garages.  All of the retail and commercial tenants are on month-to-month leases allowing the opportunity to raise commercial rents to a reasonable pro forma income of $187,560 net and bringing your total building NOI to $221,773 or a 6.7% cap rate. Relocating residential tenants adds an ADDITIONAL 20% upside in rents. The front building is two stories and features approximately 2,442 square feet of ground floor retail and commercial space and four 1 bedroom/1-bathroom apartments on the second floor. The second building is a two-story duplex, each unit of which is a 1 bedroom/1 bath that occupies one floor. In between the two buildings are two free-standing parking garages and one assigned parking spaces for each tenant. The property has a generous 8,248 square foot lot zoned C2 that can be combined with additional square footage of approximately 374 square feet given the abutting alley for a total buildable lot size of 8,619 square feet. By right, a developer can build a mixed-use 21-unit development site with retail on the ground floor. Alternatively, using the A25 section 12.22 Density Bonus Rules, a developer can build 29 units by providing between 11%-20% affordable units, with ground floor retail. Finally, using AB2334, as a 100% affordable project, a developer can build potentially up to 32 units. The subject site sits just one block from the Mar Vista Farmers Market, and two doors down from the Mar Vista Branch Library. The neighborhood is surrounded by high-end restaurants, bars, retail, a bowling alley, and many newly constructed residential units. This stretch of Venice Blvd falls within the newer Venice Blvd Safety and Mobility Project which includes protected bike lanes, and new metro lines. In August 2023, Eater named Mar Vista the "Westside's Hottest Dining Destination. Contact Oron Maher For More Information. #maherrealty #mahercommercialrealty #commercialrealestate #losangeles #losangelescommercialrealestate #DTLA #realestate #la #tradedla #cre #pricereduced

CBRE is pleased to offer for sale The Dane, a 231-unit luxury multifamily property in Philadelphia, Pennsylvania. Located in the Wynnefield section of Philadelphia, The Dane was originally constructed circa 1960. The Property was acquired by current Ownership in 2016. The building was vacated in order to effectuate a complete gut rehabilitation utilizing historic tax credits (HTC). The “Placed In Service Date” is September 2019, so the expiration of the HTC 5-year compliance period is September 2024. Accordingly, the Property will be delivered free and clear of any HTC compliance requirements. Completed in 2020, The Dane is the single finest residential community in the submarket. At 17 stories, the Property towers over the neighborhood below, offering unparalleled views of Center City, University City, and Fairmount Park. The apartments average 836 square feet and feature high-end finishes, including free-standing islands with stainless steel vent hoods, white and gray cabinetry, stone countertops, flush mount sinks, goose neck faucets, premium stainless steel appliance packages and easy-clean glass-top ranges. Each unit also has wood-like flooring, recessed and track lighting, and a washer/dryer. Most units have oversized balconies, offering private outdoor spaces which are in high demand. The Dane also offers an extraordinary indoor and outdoor amenity package, including a saltwater swimming pool, sundeck, fitness center, co-working spaces, pet wash room, and a resident lounge on the top floor. The Dane is situated at the Wynnefield Station along SEPTA’s Cynwyd Line, offering a 15-minute ride into Center City, Philadelphia. Adjacent to Fairmount Park, residents are a short walk to picnic areas, walking/jogging trails, athletic fields and the Mann Center for the Performing Arts, one of the best outdoor amphitheaters in the country. With a large loss-to-lease and in-place rents well below those at nearby comparable assets by $300 for one-bedroom apartments and $700 for two-bedroom apartments, there is immediate upside for a new owner.  www.cbre-thedane.com Contact Us: Spencer Yablon - spencer.yablon@cbre.com Brad Megay - brad.megay@cbre.com Robert Miller - robert.f.miller@cbre.com John McFadden - john.mcfadden@cbre.com Adrian Sam - adrian.sam@cbre.com Mac Shea – mac.shea@cbre.com Marco Spigonardo – marco.spigonardo@cbre.com

Cranleigh in Surrey will see its housing stock boosted this winter by one-bedroom apartments and two-bedroom houses being sold with the shared ownership model. They will start from £102,000 (30% share) and houses from £118,750 (25% share), while the range will be followed by more one and two-bedroom apartments in Spring. Buyers must purchase a minimum share of 25%. Kevin Sims, director of sales & marketing at SO Resi, said: “As we move into the new year, our commitment to providing accessible housing in affluent areas will only grow stronger. “The average property price in Cranleigh is £640,952 according to property portal Rightmove, which of course is far out of reach for first-time buyers. “With our homes starting from £102,000 for a 30% share, SO Resi Cranleigh will provide a more accessible price point for those wanting to reap the benefits of living in Surrey and will suit both young professionals and small families.” All homes will feature open-plan kitchens, living and dining spaces, integrated appliances and a washer/dryer. Properties have allocated parking, cycle storage and communal gardens, while some have Juliet balconies. Sims added: “Shared ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low five per cent deposit requirement. “At SO Resi Cranleigh, a deposit starts from just £10,200 which is a far more achievable goal for many aspirational first-time buyers. “We have seen strong demand for new homes here already, as first-time buyers look to escape the rental trap and get onto the property ladder.” Forming part of the wider Leighwood Fields development by housebuilder Berkeley Homes, SO Resi Cranleigh is situated on the edge of the village, surrounded by woodland and countryside. Residents are nearby to Cranleigh Golf & Country Club, which is part of the wider Surrey Hills area, and local shops and eateries. For transport links, Cranleigh is sandwiched between A3 and A24 with direct access to the M25, and for services further afield, Guildford railway station is a 25-minute drive with services to London Waterloo in just 45 minutes. Launching in January, SO Resi Cranleigh is a collection of 4 one-bedroom apartments and 5 two-bedroom houses, with 16 one and two-bedroom apartments launching in Spring 2024. Prices start from £102,000 for a 30% share in a one-bedroom apartment [full market value: £340,000].

FLAGSTAFF, AZ – November 27, 2023 – McGrath Real Estate Partners, in partnership with Kayne Anderson, is proud to announce the successful sale of Elara at The Sawmill, a premier 332-unit luxury community in Flagstaff, Arizona. Elara at The Sawmill, the newest luxury community in Flagstaff, offers a diverse range of living spaces from studios to four-bedroom apartments. Each unit is equipped with designer packages, smart 55" TVs, granite countertops, stainless steel appliances, and other high-end finishes. Located conveniently near Northern Arizona University and within walking distance of various shops and restaurants, Elara has established itself as a cornerstone of upscale living in Flagstaff. Property Highlights: Community Amenities: The community features a heated resort-style pool, Flagstaff's most extensive residential gym, and a variety of exclusive features that enhance residents' lifestyles. Technology Integration: Every unit is outfitted with smart home features such as smart locks and smart TVs, providing a modern and convenient living experience. Sustainability: Incorporating eco-friendly solutions in the building's design, Elara appeals to residents seeking sustainable living options. “Flagstaff, often referred to as the 'City of Seven Wonders,' holds a special place in our hearts. The sale of Elara at The Sawmill is not just a transaction, but a testament to our shared vision and commitment,” stated Michael S. McGrath, President and CEO of McGrath Real Estate Partners. About McGrath Real Estate Partners: Based in Houston, Texas, McGrath Real Estate Partners is a leading force in multifamily and student housing developments, boasting over $1.5 Billion in developed or acquired assets across the United States. This family-owned business is grounded in integrity, hard work, and innovation. We are dedicated to lasting relationships and take pride in our high-performing team and strategic partnerships which have been instrumental in our success. For more information or to discuss potential partnerships, please contact us. Contact Information: For media inquiries, please reach out to: Barrett Kirk bkirk@mcgrathrep.com About Kayne Anderson: Established in 1984, Kayne Anderson is a prominent investment firm managing $33 billion in assets. With a skilled team of 330 professionals across the U.S. and Europe, including 140 investment experts, the firm excels in alternative investing, particularly in real estate, infrastructure, credit, and growth capital sectors. Their approach focuses on responsible investment practices and community empowerment, with a strong commitment to generating strong risk-adjusted returns. Kayne Anderson's expertise in real estate investment and management has been pivotal in their successful partnerships and projects. #FlagstaffLuxuryLiving #McGrathRealEstate #LuxuryApartmentsFlagstaff #SustainableLivingAZ #RealEstateInvestment #CommunityDevelopment #FlagstaffRealEstate #KayneAnderson

The Next Big Thing? These two areas in Charlotte, NC are changing in a big way and you’ll want to know about them! Both of these areas are in the 28208 zip code and the avg sales price has increased 21% in the past 3 years. That’s saying a lot since much of what you’ll see today has been developed more recently. Clanton Park/Roseland: Located less than 4 miles Southwest of uptown Charlotte between Clanton Rd and Billy Graham Pkwy, and is also very close to Interstate 77. This neighborhood benefits from the proximity to major employers, all of the shopping, dining, entertainment, and nightlife amenities of the LoSo, SouthEnd areas, and immediate access to the light rail. All you have to do is walk or drive a couple hundred feet in any direction down Clanton Rd or S. Tryon and you will see massive development. There has already been a lot of mix used residential, multifamily retail, office, and restaurant space developed in the past 2-3 years with so much more underway or scheduled.    Here’s a little nugget of info…just over a year ago (Nov 2022) a large developer out of FL purchased the 36 acre parcel on the corner of Clanton Rd and S. Tryon. They are currently developing a master plan with plans “it will be a true mixed-use (project), with office, hotel, residential, retail and green space.” Freemore: This area is named after the intersection of 2 main thoroughfares Morehead St and Freedom Dr) and encompasses 3 smaller neighborhoods Wesley Heights, Seversville, Ashley Park. It’s known for its historic character and in recent years has undergone significant revitalization efforts with more development in the pipeline. Along with the location and amenities there’s been significant real estate development with single family rehabs and new construction, multifamily residences, and luxury apartment options. Check out the Bryant Park subdivision full of single family homes and townhomes built less than 10 years ago, or head down Grandin Rd and feel the historic charm of Wesley Heights, and then take in the modern development of the duets, townhomes, and revitalized ranch and bungalow style homes in Seversville. Cat's out of the bag! Whether it’s that first home, next home, or an investment property with upside…these areas have you covered. If you’d like more information on these or any other neighborhoods in the Greater Charlotte Area don’t hesitate to reach out. #charlottenc #realestate #relocation #relocationspecialist #realestateadvisor #realtor

Winners and Losers From Vancouver Multiplex Development As at April 30th the City has 102 multiplex development applications in process representing 438 units. Seventy two are located in the East Side and the remaining 30 are on the West Side. Lets assume by year end there are 1000 units in development. For the market to absorb 1000 units where will the buyers come from? Who wins and who loses? Winners: 1. Home owners Home owners sitting on old homes with little value have a new source of buyer. The multiplex developer. 2. Home buyers Multiplexes can be designed to be duplexes, townhomes, stacked town homes, and individual villa/laneway homes. They are versatile. They will be more affordable than half duplexes and will provide more value than comparable town homes. 3. The City More density helps the city be more efficient from amenities like community centers, emergency services and parks. 4. Retail streets More density means more people dining out, buying coffee and being active. This results in more vibrant communities. 5. Multiplex Developers There is going to be a lot of competition. Developers who can deliver a well designed home at an affordable price will do well. The Losers 1. NIMBYS Vancouver is changing. There are still areas of the city impervious to mass development given the high price of the lots in neighborhoods such as First Shaughnessy. Also new homes are too expensive to be developed. 2. Detached Homes Over time there will be fewer lots available to build detached homes as they are bought up for high rises, low rises and multiplex. 3. Townhomes Townhomes have an FSR of 1.2 vs 1.0 for multiplex. The cost of the extra .2 is immense as underground garages and zoning time adds millions to a development. The result is new townhome developments need to sell at $1500 to $1600 a foot on the West Side to be profitable. Multiplex units will sell for less. My bet is that far fewer townhome developments proceed as multiplex becomes an attractive alternative. Multiplexes have several advantages 1. Spacious interiors. Our multiplex units have ten foot ceilings on two floors. If we have a third floor in the design its at 9. 2. Most multiplexes are on quiet streets for a true residential experience. 3. Strata fees are less. 4. Less density than a townhome and more external space. The common areas are larger. All units have their own private outside space. Ultimately home buyers choose affordability and livability. Multiplex is a good option. #multifamily #multifamilydevelopment #realestate #realestatedevelopment

(Part 2) "Evolving Estates: A Chronicle of Pakistan's Real Estate Ascendancy - Visionary: Umar Ghazi" In 2015: Residential: The residential market witnessed an unprecedented surge, with property transactions skyrocketing by an impressive 15% nationwide. Karachi, Lahore, and Islamabad emerged as hotspots for residential investments, with transaction volumes reaching a staggering 500,000. Commercial: Prime commercial properties continued to be in high demand, with rental yields remaining robust despite economic uncertainties. From bustling shopping malls to prestigious office complexes, commercial real estate remained a beacon of stability, with prices climbing steadily by 10-12%. Highrise: The allure of high-rise living captured the imagination of urban dwellers, with developers unveiling ambitious projects that redefined the skyline. Luxury penthouses and corporate skyscrapers became coveted symbols of prestige, with prices appreciating by an impressive 20-25%. In 2016: Residential: The government's push for affordable housing initiatives bore fruit, leading to a 20% increase in the construction of low-cost housing units nationwide. Families rejoiced as the dream of homeownership became a reality, with over 50,000 affordable housing units completed. Commercial: Despite economic headwinds, commercial real estate remained resilient, with demand for prime office and retail spaces showing no signs of slowing down. Investors seized lucrative opportunities in emerging markets, with prices edging upwards by 8-10%. Highrise: The high-rise sector continued to scale new heights, with developers unveiling innovative projects that redefined urban living. Iconic skyscrapers graced the skyline, offering breathtaking views and world-class amenities, with prices appreciating by 15-20%. In 2017: Residential: Property prices remained stable, offering a sigh of relief to homeowners and investors alike. Karachi, Lahore, and Islamabad maintained a delicate balance between supply and demand, with prices registering a modest increase of 2-3%. Commercial: Prime commercial areas continued to be a magnet for investors seeking steady returns, with rental yields remaining attractive despite economic uncertainties. From bustling business districts to upscale shopping centers, commercial real estate remained a bastion of stability, with prices inching upwards by 5-7%. Highrise: The high-rise sector continued to thrive, with developers unveiling ambitious projects that set new benchmarks for luxury living. From sleek residential towers to iconic mixed-use developments, high-rise properties commanded a premium, with prices appreciating by 10-15%. #RealEstatePakistan #PropertyMarketInsights #UrbanDevelopment #RealEstateTrends #PakistanProperty #InvestmentOpportunities #ResidentialMarket #CommercialRealEstate #HighriseDevelopments #VisionaryLeadership #MarketAnalysis #PropertyInvestment #EconomicGrowth #RealEstateIndustry #PakistanBusiness

New Hanoi apartments mostly priced at 50-70 million VND/m2 Continued Challenges According to Savills, in the fourth quarter of 2023, the Hanoi housing market recorded the lowest new supply in 10 years for both low-rise and apartment segments. For the apartment segment, Savills Vietnam’s market report shows that in the fourth quarter of 2023, supply increased 52% quarter-on-quarter but decreased 1% year-on-year to 2,876 units. Primary supply reached 11,911 units, down 40% quarter-on-quarter and 41% year-on-year. However, the new supply recorded in the quarter only reached 10,403 units, of which grade B accounted for 84% of the supply. For the low-rise segment, in 2023, the total new supply reached 272 units, down 82% year-on-year. The new supply has 87 units, including 58 units from the new Solasta Mansion project in Ha Dong and 29 units from the existing An Lac Green Symphony project in Hoai Duc. Primary supply reached 710 units from 16 projects, down 2% quarter-on-quarter and 23% year-on-year. Townhouses are the main product with a market share of 44%. The popular price range for both segments remains high. In particular, apartments priced from 51-70 million VND/m2 accounted for 63% of the new supply, up 24% year-on-year. Apartments in this price range accounted for 49% of the total units sold, up 21% year-on-year. Apartments priced above 4 billion VND accounted for 42% of the units sold in 2023, up from 3% in 2019. Apartments priced from 2 to 4 billion VND accounted for 55% of the market share. Only 3% of the units were priced below 2 billion VND. In addition, although most developers did not adjust prices, low inventory of high-priced low-rise products caused primary prices to rise. For example, the primary villa price increased 55% quarter-on-quarter to 160 million VND/m2 mainly due to low-priced inventory in Me Linh that was sold in the third quarter of 2023. The townhouse price increased 3% quarter-on-quarter to 194 million VND/m2. The shophouse price also increased 3% quarter-on-quarter to 328 million VND/m2. According to Ms. Do Thu Hang, Senior Manager, Research & Consultancy Department, Savills Hanoi: “The continued growth in housing prices is due to the increasing costs of land and construction, developing infrastructure and improved quality. Supply limitations in the market continue to lead to high average primary selling prices throughout the market.” The number of apartments sold in the fourth quarter of 2023 reached 3,045 units, up 45% quarter-on-quarter and 5% year-on-year. The new supply had an absorption rate of 46%. In contrast, the low-rise segment had the lowest transaction volume in many years. The number of transactions in the fourth quarter of 2023 decreased 37% quarter-on-quarter and 67% year-on-year. The absorption rate in the quarter reached only 9%, down 5 percentage points quarter-on-quarter and 12 percentage points year-on-year. In 2023, only 359 units were sold, the lowest since 2014. The total number o...

How to Find Great Deals in Today’s Real Estate Market ? Long story short : “You don’t find a great deal, you make the deal great!” Going forward , real estate will remain challenging, but there are numerous strategies to enhance the value and income potential of your investment properties. 1. House Hacking(The best of all strategies): Live in one unit of a multi-family property while renting out the others. This can significantly reduce or even eliminate your own housing costs. 2. Adding Additional Units(Costly but really worth it): Convert existing spaces or build new units on the property. Adding a basement suite or a garden suite can provide additional rental income. 3. Rezoning Opportunities(Highly incentivized by Canadian government): Look for properties that can be rezoned for higher density. This can allow you to develop more units and increase the overall value of the property. 4. Basement Suites(You’ll never go wrong with this, EVER!): Convert your basement into a rental suite. This is a popular and cost-effective way to add a rental unit without needing new construction. 5. Garden Suites(Highly attractive to potential investors): Build a small, separate dwelling in your backyard. These units can be rented out or used for short-term rentals like Airbnb. 6. Joint Ventures(It’s 2024, hard to move needle alone): Partner with other investors to pool resources and share risks. This can allow you to take on larger projects than you could handle alone. 7. Creative Upgrades(Put your investor lens ON!): Enhance the property with small but impactful improvements. Consider adding an additional room, a bathroom, a powder room, a small kitchen, or another laundry setup in the garage. Building storage spaces or performing cosmetic rehabs can also increase the property's value on paper and attract tenants. 8. Look for underdeveloped/high growth areas(Massive opportunities outside of GTA): People are always moving to up and coming cities around GTA. Government development, multimillion dollar business, better schools, bigger houses, less crowded communities and more are being the reason. For instance, converting a garage can significantly boost a property's value and appeal. Adding a small kitchen and a laundry setup in the garage, alongside cosmetic rehabs like fresh paint and new flooring, not only increases the house's market value but also makes it more attractive to potential tenants. These strategies not only enhance the value of your property but also make it more attractive to renters. By thinking outside the box and getting creative, you can turn any property into a great investment. #RealEstate #InvestmentProperty #HouseHacking #RealEstateInvesting #PropertyValue #RentalIncome #CreativeInvesting #Torontorealestate #GTA