How Will the Broadway Subway Project Impact Property Prices in Vancouver Westside? 

Recently, the Broadway Subway extension was announced, and the location of stations are finalized. Slated for completion in 2025, the new train line extends the Millennium Line and connects with the Canada Line. The Broadway Subway Project has the potential to provide great benefits to those living and working in the Broadway corridor and surrounding areas, including Kerrisdale, and West 4th. With the city’s plans recently finalized to build an underground system which connects Vancouver Downtown to Vancouver Westside, commuters will have an easier time travelling to and from work around the Broadway corridor. We view this as a strong positive for investor interest and property prices in the area. 

New Skytrain Extension on Broadway

Skytrain is a very convenient mode of transportation and the new Skytrain extension will attract more people to live and work in the Broadway corridor and surrounding areas in Vancouver Westside. With additional interest in real estate in the surrounding areas and potential opportunities to rezone for denser development, this part of Vancouver Westside will likely realize a boost in property prices. It is no secret that commute time is one of the most significant factors affecting one’s quality of living. Living next to a train line helps cut down on commute time and avoid traffic. By being conveniently located next to the new Broadway Extension, homes in surrounding areas have an added appeal for professionals who prefer to avoid traffic to commute to work. Vancouver traffic slows to a crawl during peak traffic hours, and many people would avoid it if there is a viable alternative. This added convenience is an attractive proposition for professionals and will draw new interest in the area both from buyers and renters alike. Essentially, properties in the area will always be in-demand and will not take a long time to sell or rent out. 

How The New Skytrain Will Affect Real Estate in Vancouver 

In addition to residential demand, the new train line will also have a positive effect on the amenities and businesses in the local area. With easy access to the city via the new Broadway Subway Project, more people will come to the area for shopping, food, and entertainment. This, in turn, will help drive the Vancouver Westside scene and creates new demand for a wider variety of services. Residents in the area will benefit from the many new boutique stores, specialty goods, high-end restaurants, and more. Added amenities also draw more buyer interest in the local real estate market in Vancouver Westside. Given the proximity of the Broadway corridor to the West 4th commercial district and Kitsilano, we expect the new train line to have a highly synergistic effect on local economic development and real estate prices in the area. Anyone who wants to live in an area that is convenient to get to work in Vancouver Downtown but avoid actually living in the middle of the hustle and bustle would be naturally drawn to Vancouver Westside. The newly announced train line only create additional demand for real estate in the area. If you have been thinking about Vancouver Westside, now may be the time to pull the trigger before interest really picks up and prices start going back up. If you are selling, do pay close attention to ensure you are getting the price your property deserves.

West Vancouver Realtor Amir Miri 

Regardless if you are buying or selling, we urge you to contact Amir Miri, Vancouver’s leading luxury realtor. Getting a good deal requires an experienced realtor who is knowledgeable of the local area and diligent about getting every detail right. Let Amir make a difference for you. Contact Amir now at 604-657-5030 or amir@amirmiri.comto see how he can help.