Real Estate Investing in Canada

Gateway Effect Vancouver Sun May 30, 2006

The Gateway Effect

Vancouver Sun

Tuesday, May 30, 2006

The Gateway Project will deliver a 10%-20% increase in real estate values in the areas listed, over and above the rest of the Lower Mainland and Fraser Valley, according to the Real Estate Investment Network.

The regions that will benefit most are ranked according to how great the impact will be.

1. Maple Ridge and Pitt Meadows, hampered by poor transportation infrastructure for decades, will see property values increase as the region becomes among the most accessible in the Lower Mainland; this will drive demand for both residential and commercial-industrial property. Directly affecting the region will be: The new Golden Ears Bridge; the new Pitt River Bridge; the South Fraser Perimeter Road; the expansion of Highway 1; and the twinning of the Port Mann Bridge.

2. North Langley, Fort Langley and Abbotsford have been held back by Highway 1 and Port Mann Bridge congestion. The expansion of the HOV lane on Highway 1,the twinning of the Port Mann Bridge, and the completion of the South Fraser Perimeter Road will relieve this congestion, driving growth for commercial enterprises and residential units alike.

3. Port Moody and Port Coquitlam already enjoy higher real estate prices than the first two on this list, but this region will experience an increase in demand from commuters wishing to stay on the north side of the Fraser. The largest impact will come from the Evergreen Rapid Transit Line and improvements to the North Fraser Perimeter Road.

4. Surrey and Delta will see traffic issues alleviated after the completion of the South Fraser Perimeter Road and the twinning of the Port Mann Bridge, as much of the commercial truck traffic will be taken off arterial streets.

5. Mission and Chilliwack will feel the impact from reduced congestion on Highway 1 and access to the South Fraser Perimeter Road. Mission will attract both residential and commercial interest, while Chilliwack will see a boost in commercial-industrial investment.

Posted May 30, 2006 by Vancouver Sun