Vancouver Co-ops are great value!

Most co-ops in Vancouver can be found in the Westend and in the Oakridge area.

However, my buyer found this gem in South Granville. He was able to purchase a 965 square foot one bedroom home for only $575,000. The impediment for many people buying a co-op is the required 35% minimum down payment. As well, the lesser known ownership style confuses people (you are buying shares in a company that owns the building and the land), and so they pass over even looking at co-ops.

They are generally concrete buildings, built prior to 1970, avoiding the whole leaky condo period. Rooms are spacious, windows expansive and many have retained the beautiful hardwood floors.

Co-ops can also have more restrictions like a 19 minimum age requirement, no rentals or no pets. Before you can purchase, you need to be approved by a board of directors.

For this 9 suite building, EVERYONE that lived there had to approve.

I am a big fan!

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Michael Geller, a contributor to the Vancouver Courier re: real estate/housing issues, always has a clear and calm view of the situation.

Six False Creek affordable housing lots still empty after three decades: Vancouver Sun front page story March 10, 2018

While I didn't write this story, I feel partially responsible for it.
     During the recent debate about the forthcoming North-east False Creek development, much was made of the city's promise to include significant affordable housing. This prompted me to comment that this was a noble goal, but before getting too excited about these units, what about the 6 empty social housing parcels lying fallow along the North Shore of False Creek?
     I knew about these parcels because I was given a tour of them by Concord Pacific during the 2008 municipal election. Furthermore, I was involved as an expert witness in a lawsuit over them a few years ago. Following my comments, Lori Cuthbert contacted me. I happily put her in touch with Cameron Gray, who was the City's Housing Director, and while not directly involved in the acquisition of these sites, knew why they remained undeveloped.
     I told Lori that I thought it was outrageous that these sites remained undeveloped, not as a criticism of Concord Pacific, but rather of the city, province and feds who could have come up with a strategy to see these parcels developed with affordable housing, even in the absence of deep government subsidies. Enough said.
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