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S p e c i a l F e a t u r e communities to the region in 2018. Additionally, we will see multiple lower- density condominium developments introduced. These housing forms are really important to the region because they o•er a more ground-scale form of housing that many want. If you ask the people coming into our sales centres, we …nd people like the feel of these neighbourhoods. The form allows more people to stay within the communities they grew up in, but it also allows their parents an opportunity to remain in an area that they built their roots. More speci…cally, an area that I think we will look back on for years to come and say, "that was the right thing to do, that worked," is Moodyville, which is a new community plan east of Lonsdale on Third Street. North Vancouver had the vision a few years ago of enabling the transformation of the area by a community- wide rezoning. What is special is that they didn't transform to high-density forms; they enabled these moderate heights on a grander scale. In less than three years, 150 (mainly older) homes have been purchased and are in the process of redevelopment to create about 500 homes. These are family homes. It's housing that suits a lot of needs, which is what communities need. Downtown Vancouver is always an area we will have on our radar. It demonstrates the sheer transformation of our wider region and what is interesting for us to watch is the number of Boomers coming into the downtown core—it proves to us that the promise of urban life is now certainly a reality. And you cannot have a discussion about our region without focusing on South of the Fraser and the multiple di•erent communities such as Cloverdale, White Rock and Central City ( just to name a few). These areas are providing some of the a•ordability for our region and, through the connection of rapid transit, Central City is becoming a very desirable option for not just area residents who have long supported the city's vision, but also for those coming from north of the Fraser who are now aware of the livability these areas o•er. We are really excited to watch that area of our region as more connectivity through transit is introduced to connect neighbouring areas like Guildford and Newton. What other trends are you seeing? People are thinking through their housing options di•erently and thinking about ownership di•erently. For some, this means that they are looking outside of the region for options of ownership and choosing to rent the housing they require in town. We hear constantly from Rennie Advisors (our Realtors) that some clients are turning attention to Vancouver Island, Kelowna, Whistler or south of the border for recreational properties that they can own as legacy assets. This shapes what we need to build as a region; it means that family housing (rental and condominium) will see the same growth of demand in the next few years as we have seen for the last few. So watch for continued discussion around livability of urban form options, demand for rental housing and demand for bedrooms. Condo developers have to address these changing needs, such as flex space and dog-washing stations. How are they doing it? Storage is becoming as valuable as parking through the region. Developers have to keep up with the change that seems to now be constant. A perfect example is the impact online shopping has had on the design of condominium units. We now talk about the "Amazon room" that is required to intake and store the growing volume of packages being delivered on a daily basis. And we are already thinking about increased delivery of food and groceries and how to accommodate that. Developers are attuned to the changing trends and demands and are driven to respond fast enough to market needs, whether that would be more creative options for creating additional bedrooms or designing buildings with no one-bedroom options in areas where families are the predominant group demanding homes. There's a lot of talk of Baby Boomers downsizing. How is this affecting the market? Over the last while, age has become almost irrelevant. It's more about lifestyle choice. You have people in their twenties who are happy to move outside the city in order to have more space and live in a quieter neighbourhood. And, yet, you have those in their sixties wanting a much more urban lifestyle: they bike all the time, they go out to restaurants more. Storage is consistently important, as is having reasonable living space. In some cases, with a 1,200-sq.-ft. unit, you don't need three bedrooms. You're building a two-bedroom and den. For the downsizer, they don't need three bedrooms but they want space and they're happy to pay for it. One of the most interesting things is the amount of equity that the Baby Boomer has: the number of mortgage-free, clear-title homes that the over-50 buyer has and the impact of this. What's happening is they're selling that single-family house, and it's creating North Vancouver—as seen from Burrard Inlet—is one of the only areas north of the Fraser that will be delivering new townhome communities to the region in 2018 ISTOCK

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