Exchange Zones

Vancouver real estate prices shot through the roof making it the most expensive Canadian real estate market.  Mansions with waterfront access that were valued at around five millions in the nineties, are now priced over 30 millions.

But this seems to be only the beginning of Vancouver’s recognition in the world.  With the countdown to Vancouver-Whistler 2010 Winter Olympics more and more big money turns its interest towards the Pacific metropolis.  The constriction of Living Shangri-La building is presently underway in the downtown core.  After its completion it will be 61-storey skyscraper with first 15 floors occupied by the luxury five stars Shangri-La Hotel. The chain of deluxe Shangri-La hotels is well established in premier city addresses across Asia and the Middle East.  Vancouver will be the first hotel of this kind in North America. The construction is scheduled for completion in the late 2008.  The floors over the hotel will be occupied by 293 luxury condominiums with a price tag of at least one million dollars.

The construction of Ritz-Carlton Vancouver, a block away from Vancouver Shangri-La, is scheduled to begin soon.  It won’t be ready for the Olympics as it is not going to be completed until 2011.  This 58 floor tower, designed by Arthur Erickson, will be triangular in shape, twisting gradually with height up to 45 degrees from bottom to top. Like in case of Shangri-La tower, only first 20 floors will be occupies by Ritz-Carlton Hotel, the remaining floors designed for private apartments valued between 1.4 to 13 million dollars.

What comes next?  Ninety percent of the hotel rooms have supposedly been already booked for the Olympics.  It seems that the demand for more accommodation will have to be filled by Vancouver Vacation Rentals, Whistler Vacation Rentals, Bed & Breakfasts, and Hostels.  You might also try your luck by the way of Vancouver Home Exchange, especially if you live in another attractive tourist destination.

With this exceptional growth, the Vancouver city planners are doing their utmost to avoid traffic congestion and to keep the city green by establishing many gardens of various sizes. To add to the newly opened additional line of Vancouver SkyTrain (a fast, over-the-street train system) an underground line is presently being constructed that is due for opening in November 2009, just in time for the winter Olympics.  It will connect Vancouver downtown with downtown Richmond and the neighboring Vancouver Airport.

Vancouver Olympics Village is being developed by the City of Vancouver in the Southeast False Creek area, across from BC Place Stadium -- the site of the opening and closing ceremonies of the 2010 Winter Olympic Games.  The Olympics Village will be set in a large park and provide accommodation for 2 500 athletes, coaches and officials.  After the Winter Games the Olympic Village will be converted into mixed-use, model sustainable community.