It seems that every month I hear about another plan for a new development in the Lonsdale area. As a young homeowner and real estate agent in North Vancouver this is very exciting news. The influx of new apartment buildings, plans for a Ferris wheel, Tap and Barrel patio, Whole Foods, Browns, Shipyard Plaza etc. is contributing to a refreshing transformation for the community. In my opinion, this "urbanization" will improve the appeal of living on the North Shore and spark a rise in the real estate market. The current value of existing houses and apartments will increase as Lonsdale becomes more established, and desirable area to buy into.
Another upside to all of this new development is that it will provide more options for affordable housing on the North Shore. Especially for young buyers, like myself. From personal observation, I have seen a notable trend of buyers in their 20s-30s purchasing apartments near Lonsdale instead of downtown Vancouver. Not only as their first home, but also as their first major investment. This is a positive trend, in my opinion, for the economy of BC because with the expensive cost of living and lack of jobs for young professionals, many of them are moving out of province. I think it is important to provide affordable housing for those yuppies to start their lives here. Also, with increased population on the North Shore, there will hopefully be improved and increased infrastructure. There are a number of businesses and industries that will benefit greatly from these improvements to the North Shore and increased population density.