Jul
21

Condos and Industry Battle It Out in Vancouver’s Red-Hot Real Estate Boom

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There’s no room on the waterfront.

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Vancouver seen from Stanley Park.

Photographer: George Rose/Getty Images

Vancouver is one of North America’s hottest real estate markets—a city of million-dollar teardowns that’s become notoriously unaffordable for the young and the middle class. And potential homebuyers aren’t the only ones feeling the squeeze.

The Port of Vancouver, Canada’s biggest, is being hemmed in as property is snapped up for housing, offices, and even movie sets. The regional port authority estimates the region may run out of industrial land within 10 years. This could push some of the port’s$200 billion in trade to rival gateways if related businesses “can’t get a site or can’t do it in an economic way,” says Peter Xotta, vice president for planning and operations for the authority…

Condos and Industry Battle It Out in Vancouver’s Red-Hot Real Estate Boom

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