Is Mount Pleasant East Vancouvers Next Real Estate Hot Spot?

Posted in Uncategorized by vancouverhotspot on February 16, 2010

Hello Vancouver,

As I cruise the neighbourhood in search of Vancouvers next real estate investmentsI cant help but think about how East Vancouvers Strathcona or Mount Pleasant East neighbourhood could be Vancouvers next up and coming real estate boom.

Its situated right beside the downtown core, we have one of Canadas most affluent and densily populated neighbourhoods next to one of Canadas least affluent. The East Mount Pleasant neighbourhood is situated right next to Vancouvers downtown coreno bridges to cross and within walking distance. New developments have begun to border on the edge of Gore Ave, one of the more definitive dividing lines. Onnis V6A project is nearly complete, bringing with it a more reasonable downtown price.

The Georgia viaduct is either poised for demolition or will undergo a massive revitilisation in order to eliminate Venebles St from being treated like a freeway. The city of Vancouver is curently planning on spending 300,000 to build a big bicycle lane and garden along the Georgia viaduct in an effort to slow the traffic down and make the downtown core more bicycle friendly. A move I whole heartedly support. I also support the demolition of this viaduct in order to allow the development of the prime city land underneath to be used as for housing. The housing will allow the property tax revenue and enhance the beautification of the city. The Georgia viaduct is an unecessary eye sore on the city landscape.

Rumour has it the Concord Pacific purchased the land situated underneath the viaduct 2 years ago. They currently have plans to build towers surrounding it. However, the viaduct could be re routed at ground level and traffic redirected off Venebles onto Malkin Ave.

Strathconas Mount Pleasant east neighbourhood is the most obvious choice for currently undervalued prices. If location is everything in real estate, then Mount Pleasant east has the best of everything. Blocks from downtown, older structures that need to be torn down.

The problemgetting building permits is apparently quite difficult in this neighbourhood. If the city makes it more appealing for builders, a real beautification of this neighbourhood could be in the very near future.

In my opinion, it only makes sense that this neighbourhood will be Vancouvers next hot spot, its a mere few blocks from the main downtown core, its on the edge of Vancouvers Chinatown and Gastown areas and constuction has no choice but to move eastward. The West side is beyond the reach of the average home or condo buyer.

Vancouvers east Mount Pleasant neighbourhood is currently 70% renters with absentee landlords renting older dilapidated homes poised for demolition. Mount Pleasant east also has a more transient population according to City statistics.

It is now geographically and mathematically impossible for this not to change. My prediction, give this neighbourhood east of Gore Avenue 5 to 7 years and you will see the changes. Focus will be on Prior Street where it turns into Venables Street and also on Union Street. If the Georgia viaduct does indeed get brought down to street level and redirected away from these other streets, this will finally allow this neighbourhood to flourish and allow for the city to generate more needed revenue for social housing and social programs.