Updates

BC Government Revolutionizes Developer Fees in All Cities BC Government Revolutionizes Developer Fees in All Cities, Replacing CACs with ACCs! See full statement below: The British Columbia government has unveiled groundbreaking legislation that will transform the way real estate developers interact with municipal governments regarding public benefits tied to density and new property uses. Community…

Bank of Canada hikes key interest rate by another 75 basis points….. The hike brings the key interest rate to 3.25 per cent, the highest level since April 2008, when the Bank was slashing its rate in response to the Great Recess… See full statement below: The Bank of Canada today increased its target for…

Vancouver Rail Extension Heightens Developer Interest in Langley….. Train Line Set To Boost Already Fast-Growing Residential Area, Bring 50,000 Jobs Within Commuting Distance See full statement below: One of Vancouver’s fastest-growing suburbs is set to get another boost, and developers are taking note. Langley, a small city and surrounding township about 40 kilometres southeast of…

Inflation in Canada falls to 7.6%. – Long Way to Go…. Canada’s inflation rate falls to 7.6% in July as gas prices fall See full statement below: In June, inflation hit a 39-year high of 8.1 per cent, with gasoline prices the single biggest contributor to the overall rate increase. By contrast, gasoline prices declined…

Growing Within the Boundary – City of Coquitlam: Meeting with Mayor Stewart How will Coquitlam continue to grow while maintaining a compact urban boundary? Is it possible for this growth to be sustainable and affordable while minimizing environmental impact? These are just two of the most pressing challenges faced by the City of Coquitlam and…

Surrey-Langley SkyTrain: B.C. Government Formally Approves the Funding The BC government gave formal approval to fund $3.94 Billion for the project. Full completion projection is 2028 which is 2 years earlier than indicated. Instead of doing it in phases, it will be done in one shot. Source: Vancouver Sun The Surrey-to-Langley SkyTrain extension hit a…

Bank of Canada Hikes Key Rate by 50 Basis Points for Second Time in a Row….. The oversized hike brings the policy interest rate to 1.5 per cent. See full statement below: “The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit…

Bank of Canada Releases its Annual Report: 2021 The agreement between Bank of Canada and the Government of Canada states a target of 2% inflation rate Bank of Canada-Annual Report 2021   The Governor reflects on the impact of Covid on country’s economy and the challenges it has brought making the economic recovery so complex.…

Bank of Canada increases policy interest rate… Bank of Canada hikes key interest rate to be 0.5% See full statement below: “The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping…

SOUTH CAMPBELL HEIGHTS GETS FINAL APPROVAL Regional government finally approves Surrey’s plan to expand industrial lands Metro Vancouver’s regional government has narrowly approved the City of Surrey’s plan to turn rural lands into an industrial park. The decision comes despite objections from the Semiahmoo First Nation and environmentalists. After more than three hours of debate,…