The Real World of Real Estate

A Discussion on Housing Supply and Demand in the Lower Mainland with Cressey Developments

October 27, 2021 Gerald Tostowaryk Season 2 Episode 21
The Real World of Real Estate
A Discussion on Housing Supply and Demand in the Lower Mainland with Cressey Developments
Show Notes Chapter Markers

Today's episode is a deep dive into supply and demand characteristics in BC's lower mainland including government policies and how they are or are not working to alleviate strong demand.
Joining me today is Hani Lammam, Executive Vice President of Cressey Development Group, a very active developer in the lower mainland, as well as other areas, and we discuss the challenges of developing in the area including where and why demand is high, why supply isn't keeping up, governmental policies, environmental initiatives and much, much more.
Let's dive in!

Support the Show.

Guest Introduction
Where in BC and why has Cressey noticed high housing demand?
The Presence of International Developers
Why hasn't supply kept up with demand?
The length of the development process
Government policies not working to incentivize supply
Ineffective government policies around unit size and suite mix
The affordability crisis driven by a lack of supply
The effect of environmental codes on construction cost
How is all this affecting land costs?
What are the Vancouver area development timelines and cost structures?
What are/can developers do in this environment to make projects happen?
Any creative ideas to help meet the demand?
Are you able to operate in less dense urban areas?
A personal insight into my guest
What does Cressey see in the way of lifestyle changes due to covid?
Is Cressey planning any changes in their communities post-pandemic?
Has the lower mainland experienced the covid move away from urban centres?

Podcasts we love