As the price of houses continue to increase beyond the reach of many young families, they are looking to alternative styles of living. Condo living has many benefits, aside from a closer proximity to the downtown core, there's less to maintain, more amenities to share amongst the residence and of course a friendlier price tag.
As a result, developers are starting to cater to this new group of buyers looking for more space in condo living. The Charleson by Onni, soon to start rising on the corner of Richards and Pacific in Yaletown, starts at 1,000 sqft per unit. While the Empire on Cambe St near the Queen Elizabeth Park offers 22 3-bedroom units, with such unanticipated demand, the developer redesigned some one bedrooms to cater to the need.
Baby boomers looking to retire into a more urban, low maintenance and lifestyle oriented dwelling as well as young families wanting close proximity to work at an affordable price tag are all shifting the condo market into creating larger spaces and increasing the options available.
See Barbara Yaffe's story in the Vancouver Sun for more on this story.