How the redesigned Granville Bridge will reshape the community

Good morning,

First off, major apologies to reader Melanie. She’s been diligently answering our quizzes and games successfully. And every time I mention her correct response, I’ve written her name as Melania.

And it turns out that the affordable unit for sale in Point Grey I featured on Wednesday was in fact a leasehold, not actual ownership. Thanks to Cracote for catching that. There’s always a catch with affordable property in Vancouver…

Is anyone else excited about the new Granville Bridge? We’ve got a deep-dive covering all the changes. Plus there’s a developer who’s facing a not-so-tiny debt bill that could affect housing developments. All that and much more in today’s edition of the Lookout.

Onwards!

— Geoff Sharpe

WEATHER

Friday: 9 🌡️ 3 | 🌧

Saturday: 7 🌡️ 4 | ⛅

Sunday: 6 🌡️ -4 | 🌧

Monday: 7 🌡️ 1 | 🌧

VANCOUVER NUMBERS

💰$700 million: That’s how much a Vancouver developer has in outstanding debt, forcing them to declare insolvency. More on that later. [Urbanized]

🏘️ $173,250: The amount of income you need to afford an average home price in Vancouver. The median income in the city is only $56,400. [Daily Hive]

​👷 1 million: The government is projecting this many new job openings in B.C. within the next 10 years. [CTV]

INFRASTRUCTURE

Out with the old Granville Bridge, in with the new

What’s happening: Granville Bridge will get a $50-million facelift that the city hopes will transform the area around the bridge. The city will replace the two western lanes with separated space for bikes, walking and other forms of transportation, according to the Vancouver Sun.

• The removal of the road loops on the end of the Bridge’s north end will also allow housing and other services to be built.

Council hopes disruption during construction will be minimal for drivers. Before the pandemic, there were around 65,000 vehicle crossings per day, according to CTV.

• Fun fact: The onramps and offramps were part of a plan to build a freeway through the city. That plan was cancelled 50 years ago and significantly to improved liveability in the city, according to CBC.

Timeframe: The city says construction will take place from winter 2023 to fall 2024. To start, the east off ramp to Seymour will be closed this winter, and the west on ramp from Howe will follow in the spring.

• For a more detailed look at the project, visit the Granville Connector overview at the City of Vancouver.

The road myth: Historically, a common myth in city planning was that building more roads would reduce traffic. Research shows this was never true. Ditto for reducing roads: it doesn’t lead to higher congestion, as drivers change their habits, find different roads or change how they get around. It’s why there wasn’t an increase in congestion when driving lanes were replaced by bike lanes on the Burrard Bridge.

Thought bubble: The lack of real public pushback to this project indicates the days of division over bike lane projects are mostly over. Residents seem to have a general consensus that reducing roads in favour of mixed transportation options is a net positive. Though the recent debate over the separated bike lanes in Stanley Park is one clear exception.

QUOTE

“None of us had a crystal ball back then. We couldn’t have predicted how popular cycling would become if you made it safer for people.” A quote from Charles Gauthier in 2019, former head of the Downtown Vancouver Business Improvement Association, who initially opposed adding bike lanes to the Burrard Bridge, but came around to supporting them after seeing their popularity.

HOUSING

Developer in debt difficulty

Buckle up your seat belts, strap into your bikes, the Vancouver housing market may be in for some turbulence.

What happened: Coromandel Properties, a prominent Vancouver real estate developer, has declared insolvency and needs to restructure its finances. With more than 16 active real estate projects, all in Vancouver, many new housing projects could be at risk, according to Urbanized.

• The 16 projects have around 2,000 various units of housing.

Background: The filings to the Supreme Court of British Columbia identified two causes: difficulty serving debt as interest rates rose in 2022 and the slow process for housing approvals at the City of Vancouver.

• For a complete list of the properties affected, visit Urbanized.

What it means: The company may be forced to liquidate their properties if it cannot receive protection to restructure its finances.

THE AGENDA

🚘 Uber carpooling is back in Vancouver after being suspended during COVID. [CTV]

🏫 Parents are raising concerns about drainage that causes water to pool at Elsie Roy Elementary, turning the playground into a mess. [CBC]

🗺️ B.C. has new proposed boundary changes for electoral ridings. The most significant change in Vancouver is instead of six, there would be five ridings, with one being shared with Burnaby. [Twitter]

💰 Ken Sim’s ABC Party spent the most out of any Metro Vancouver political party this election, with $2.1 million, compared to $1.1 milllion by mayor Kennedy’s Forward party. Municipal spending outside of Vancouver also increased. [CBC]

CITY HALL UPDATE

Rentals, cup fees and bike lanes

Here’s some updates from city hall you might’ve missed this week.

Bleak rental picture: The Vancouver rental market is in dire straights even though rental units have increased, according to one ABC councillor’s review of Canadian Mortgage and Housing Corporation (CMHC) data. Peter Meiszner shared a detailed breakdown the CMHC’s data on rental housing in Vancouver. Some key takeaways:

• High demand for rental units means even though rental stock growth is higher than at any point in 30 years, the vacancy rate for purpose-built rentals was 0.9 percent;

• There was an increase of 43 percent for rentals by landlords when a tenant moved;

• And 52 percent of the entire region’s purpose-built rentals were in Vancouver.

Cup fee gone: Coun. Bligh will introduce a motion at the next council meeting to end the $0.25 cup fee. The motion also asks staff to look at other ways of reducing waste. Reporter Justin McElroy speculates that the fee will be gone by June 1. [Twitter]

Bike lane opponents mad: A group Called Stanley Park for All, which opposes separated bike lanes in the park, is speaking out about delays in removing the lanes. They’re planning a protest at the Vancouver Parks Board next week. [Urbanized]

COMMUNITY HIGHLIGHTS

• Our food editor Jamie swears by this Ukrainian restaurant in the West End. Having been there, I could not agree more. [Vancity Lookout Eats]

• What does it mean to be Black in Vancouver? The Georgia Straight interviewed four local writers to find out. [Georgia Straight]

• If you’re considering adopting a puppy, now is the time. There’s been a spike in pandemic-bred puppies that need homes. [CTV]

• Is cell-based meat something people will eat? And who is doing it locally in Vancouver? Read on to find out. [Vancity Lookout Eats]

• Central Hobbies, the beloved toy store on Grandview, could be closing by this spring if someone doesn’t buy it. [Vancouver is Awesome]

• This fantastic Vancouver restaurant has a unique take on sharing plates that is worth trying. [Vancity Lookout Eats]

TWEET OF THE WEEK

Take a quick tour of what is Vancouver’s most exciting new development at Sen̓áḵw, with more than 6,000 new purpose-built rentals.

TOP PHOTO

Today’s top photo shows the areas in Vancouver most at risk of damage from an earthquake.

GAME TIME

Congrats to Shannon for correctly guessing the location of the image in Wednesday’s VancouerGuesser — it was the exit at Stanley Park.

Today’s Wordle should be easy if you read today’s newsletter. Play now.