Best revitalizing neighbourhoods to invest in right now?

[AudiA3]

If you have extra cash to invest in real estate today for a rental condo unit, in which neighbourhood would you be most confident investing your money? Or if you're like me looking into purchasing my first condo to live in and start building equity with the goal of moving to a townhouse or SFH in the future. As I prefer not having a car to save money, I much prefer living near a skytrain station. Choose between these massive transit-oriented development areas:

1. Marine Gateway
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2. Oakridge Centre
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3. Southeast False Creek
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4. Brentwood Town Centre
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5. Surrey City Centre
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6. Lower Lonsdale
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[Pinion]

Definitely not Brentwood, the salespeople there are always engaging in shady tactics.

And lol at that Surrey pic. I think that was from pre-2008 crash.

Maybe not the top answer but Lonsdale and New West should be part of the discussion too. Actual nice urban environments on an upswing rather than just a cluster of highrises that will lose most of its value once the newness wears off.

[a very long weekend]

i'd choose chinatown, over any of those. then dtes, hastings until clark, the strathcona/oppenheimer park axis if gore really gets moving, and obviously main street around terminal if you can find a good price on something.

but of the ones you list, i have to say that though i'd never want to live in surrey, it'd probably going to be the best value, like return on investment over time. probably oakridge would be next, in my opinion, because i'm convinced that the surrounding areas will continue to be rezoned over the next decade or two, making units in those (right on top of the metro station) pretty solid investments. the south east false creek ones seem like "can't miss" opportunities, but they're so expensive.

[AudiA3]

Originally Posted by Pinion

Definitely not Brentwood, the salespeople there are always engaging in shady tactics.

And lol at that Surrey pic. I think that was from pre-2008 crash.

Maybe not the top answer but Lonsdale and New West should be part of the discussion too. Actual nice urban environments on an upswing rather than just a cluster of highrises that will lose most of its value once the newness wears off.

I didn't want to include Londsdale because it is such a small-scale project, like there is nothing new other than several new residential buildings

[Pinion]

Originally Posted by AudiA3

I didn't want to include Londsdale because it is such a small-scale project

It's not a singular project. Still lots of new condos in a small area.

Originally Posted by AudiA3

like there is nothing new other than several new residential buildings

As opposed to your other choices? Seems like they need to catch up to real urban environments rather than the other way around. SEFC excepted.

Also where are their ferris wheels and ice rinks, huh?

[trofirhen]

They' are good. I think Oakridge may have top honours: West Side, greenspace, sculpted towers, but I think Brentwood's really going to buzz the most (if that's what you're looking for.) Surrey will gave to go through a lot of socio-economic and cultural change before it becomes another Bellevue. Big Time.

[AudiA3]

Originally Posted by Pinion

It's not a singular project. Still lots of new condos in a small area.



As opposed to your other choices? Seems like they need to catch up to real urban environments rather than the other way around. SEFC excepted.

Also where are their ferris wheels and ice rinks, huh?

A mere $25-million project? Come on man!!!

[logan5]

All those areas you brought up, those condos are likely to depreciaye in value. As mentioned, the dtes has the best chance of appreciating in value.

[Alex Mackinnon]

I don't think any of those neighbourhoods you mentioned except for Whalley are being revitalized. They're mostly new build, so by defintion it they can't be revitalized. Brownfield industrial sites don't really qualify as an existing neighbourhood in my mind.

As for neighbourhoods being revitalized, I would agree, the DTES is seeing a lot of movement right now. We even got a real grocery store last month. New West continues to get better, and Lonsdale has changed hugely in the last decade.

[spm2013]

Metrotown

[hollywoodnorth]

I would say Downtown Eastside

[AudiA3]

Originally Posted by hollywoodnorth

I would say Downtown Eastside

Where are these druggies going to be relocated then? Surrey?

[Jebby]

Definitely not surrey.

[Pinion]

Originally Posted by AudiA3

A mere $25-million project? Come on man!!!

$25 million for the public space alone. Pinnacle's building nine mid-to-high rises around it and units are only $900,000 each, surely can only go up from there!



And of course that's just one development in a true revitalization. This area was shitsville 15 years ago.

[spm2013]

Anywhere that's getting a Whole Foods = $$$

[ssiguy]

Either Oakridge or False Creek.

The other developments may be large but when it's all said and done they are simply a bunch of towers located around a mall. They maybe TOD but that doesn't make them pedestrian friendly.

This is much like Metrotown where it's a great example of TOD but is no more pedestrian friendly than it was 20 years ago. When have you ever heard of anyone going for a walk around Metrotown? This will be the same with Brentwood, Marine, and Surrey.

Oakridge is in a already established pleasant area and False Creek is a vital and pedestrian friendly area. NuWest and Lonsdale are areas that are both TOD and pedestrian friendly with interesting shops, architecture, and character.

Brentwood and Surrey are simply a bunch of tall buildings surrounding a mall with store and shops you can get in any mall in Canada. Marine does, of the three, have the most potential if it gets larger and heads west to merge with pedestrian friendly Marpole which definitely has a unique and interesting vibe.

[AudiA3]

Originally Posted by Pinion

$25 million for the public space alone. Pinnacle's building nine mid-to-high rises around it and units are only $900,000 each, surely can only go up from there!



And of course that's just one development in a true revitalization. This area was shitsville 15 years ago.

You are absolutely right! I will add that onto the list. Too bad you have to take a ferry each time to get around though, not very convenient for busy professional folks. Great for retirees on the other hand.

[djh]

Great question, OP, by the way. I think it really does raise some questions about what would be the best area to invest. I'm imagining if I was a young professional about to get their first place and where my funds would be best spent.

Food for thought...

[Pinion]

Originally Posted by AudiA3

You are absolutely right! I will add that onto the list. Too bad you have to take a ferry each time to get around though, not very convenient for busy professional folks. Great for retirees on the other hand.

It's 15 minutes total from "LoLo" to the the CBD, not exactly inconvenient. The real problem is the buses that constantly miss the departure time by 10 seconds.

[logan5]

Originally Posted by AudiA3

Where are these druggies going to be relocated then? Surrey?

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.