{"id":9815,"date":"2012-05-24T12:00:18","date_gmt":"2012-05-24T19:00:18","guid":{"rendered":"http:\/\/spacingvancouver.ca\/?p=9815"},"modified":"2019-10-19T18:55:41","modified_gmt":"2019-10-20T01:55:41","slug":"rennie-on-real-estate-transit-transit-transit","status":"publish","type":"post","link":"https:\/\/spacing.ca\/vancouver\/2012\/05\/24\/rennie-on-real-estate-transit-transit-transit\/","title":{"rendered":"Rennie on Real Estate: Transit, Transit, Transit"},"content":{"rendered":"
\"Photo<\/a>
“Everything is Going to Be Alright” by Martin Creed, from the Rennie Collection<\/figcaption><\/figure>\n

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“Transit, Transit, Transit” is the new real estate mantra in Grater Vancouver according to real estate<\/a> marketer Bob Rennie<\/a>.<\/p>\n

Last Wednesday, Rennie made his tenth appearance at the Urban Development Institute<\/a>\u2019s (UDI) Annual General Meeting at the Hotel Vancouver. The topic of his presentation was \u201cWhat if it is not a bubble…\u201d, but the most interesting part of his presentation for me\u2014and perhaps many Spacing readers\u2014were his comments on how the real estate market is increasing favouring transit-oriented development.<\/p>\n

Transit Oriented Development<\/h2>\n

\u201cIn the \u201970s and \u201980s it was location, location, location. In the \u201990s through mid-\u20192000s, it was timing, timing, timing. And from here forward, it\u2019s transit, transit, transit.\u201d<\/p><\/blockquote>\n

Rennie used some recent statistics from the recent Marine Gateway sales to bolster this claim, including the fact that 72.5% of Marnie Gateway\u2019s 414 buyers identified the Canada Line as important or very important in their home buying decision. He also noted 105 of the 414 sales units were not sold with a parking space. This is a trend in line with other projects he\u2019s marketed, including downtown\u2019s Electric Avenue, where 102 units were sold without parking. He also pointed to strong pre-sales along the Evergreen line in Coquitlam, near Joyce Skytrain station and along the Expo line in downtown New Westminster and Surrey. A great real estate option for many people are these single family houses for sale in orange ca<\/a>. <\/span><\/p>\n

Rennie explained part of this shift as demographic; noting that today\u2019s youth have replaced their dependency on the automobile with a dependency on the iPhone:<\/p>\n

\u201cIf you\u2019re under 25, you don\u2019t own a car because it\u2019s an inconvenience and you care about the environment\u2026 and unlike their moms and dads, youth does not require a car to get laid.\u201d<\/p><\/blockquote>\n

Facts and Figures<\/h2>\n

In Rennie tradition, he based the bulk of his presentation on a rapid fire succession of statistics, mainly compiled by David Baxter and Andrew Ramlo of Urban Futures<\/a>. (a complete report of these statistics should be available within the next few weeks) Some of the highlights shared by Rennie include:<\/p>\n