Not Just a Pretty Price

New Westminster is offering an affordable alternative to Vancouver. With a downtown area, transit, heritage buildings, and great value per dollar, it is tough to say “no”.

Price |

The graph on the right shows the typical housing prices from last month, comparing New West (yellow) to Greater Vancouver (blue). The numbers speak for themselves. 

Value | 

While it is possible to find more inexpensive housing, it is virtually impossible to find it situated to the west of the Fraser, complete with transit, access to amenities, and tied together by a strong community.

Prefer to build?

The competitively priced commercial land in New West is ripe for ROI.  Due to the recent revitalization of the city, land prices are on the rise. In other words, NOW is the time to invest. The plethora of transit oriented land in this 15km² city means there are many areas to build that will not only fetch higher lease rates, but also decrease building costs because fewer parking spots are needed.  

Want more?

New Westminster is hosting an Economic Forum on November 8th, 2012, where speakers, including keynote Bob Rennie, will explore economic and demographic trends in BC and the Lower Mainland. Tickets are already 70% sold, so don't hesitate:

Go to www.investnewwest.ca for more details

Does Heritage Building Revitalization Help or Hinder Economic Development?

The short answer: It helps!

How?

Job creation

The labour component of a building rehabilitation is larger than that of a brand new construction project. This means that, dollar for dollar, rehabilitating historical buildings creates more jobs than new construction does.

Local Business

Heritage buildings are often underused, or run down. Revitalizing these buildings creates opportunities for new and existing businesses to have unique office or retail spaces for their clientele to enjoy.

Attractiveness

Preserving the historical craftsmanship while creating newness gives the community a unique, and appealing identity that draws in businesses, customers, new residents, and talented workers.  Instead of being a district of old buildings to pass through, the revitalized heritage area becomes a destination.

Property Value

Designated heritage properties fetch a higher price and tend to appreciate faster than non-designated properties. Thanks to a halo effect, designated heritage properties aren’t the only ones benefiting from that status; the near neighbours also experience a rise in property value.