ABOUT THE NEIGHBOURHOOD
The Cambie area has grown substantially over the last decade and is likely familiar to many of us for the ongoing infrastructure expansion in the area, including the new major commercial office tower development that is underway at Broadway as well as the Oakridge development.
What is the neighbourhood known and appreciated for?
If you are from Vancouver, you will know the feeling of coming to the top of the hill on Cambie heading north, approaching Broadway and the absolute stunning view of the Downtown core with the North Shore mountains behind– it truly is breathtaking and this neighbourhood is lucky enough to capture these mountain views from across the corridor. Cambie is also known for its easy access to transit, including the Skytrain that connects you to Downtown, out to Richmond and everything in between.
There is a vast variety of boutique stores and restaurants throughout the area making it very achievable to do all of your daily errands close to home. There is also easy access to Douglas Park, Riley Park and Queen Elizabeth Park which feature a lush botanical garden, pitch and putt, our local baseball team’s home field and a weekly farmers market. This dynamic mix of nature and amenities help make Cambie a great place to call home.
What is the main type(s) of real estate?
This neighborhood is made up of a real mix of real estate – there are well-maintained and restored homes surrounded by large beautiful trees lining the streets, as well as upscale, concrete homes in addition to the new developments along the corridor all the way to Marine Gateway. Many of these newer buildings between King Edward and 41st offer great amenities and exclusive suites, making them appealing to professionals.
What is the neighbourhood vibe?
Given the fantastic array of shops, the Cambie area is very walkable, particularly the Cambie corridor between 16th and 25th—although the more residential areas a few blocks east or west are also pedestrian-friendly. The base of Cambie at Marine, though in the early stages, is starting to display promise with the masterplan community coming together quickly with ample commercial spaces, entertainment options, and high rises planned.
What is the main downside?
Along with the exciting promise of future developments and community expansion comes the reality of a lot of construction…and in the Cambie neighbourhood, there will be ongoing construction for the foreseeable future. On the bright side, this means there will be plenty of developer contributions and upgrades to the infrastructure in the area. It is also important to note that there are limited rentals in the corridor right now so if you are looking to purchase as an investment property, you will likely have to wait to buy in a new build.
What is the short and longer-term future of the area?
Development, development, development. As we have expressed throughout this profile, this area is seeing lots of construction and new developments and with that, plenty of
upgrades. This will be an interesting neighbourhood to watch and could definitely be a worthwhile investment if its main attributes fit your needs.
What are prices like?
The pricing in this area is very similar to Downtown Vancouver. Most properties start in the $2 million range and extend from there—but keep in mind that these are mostly newer luxury builds so don’t be alarmed by the price tag. Median prices at time of publication are as follows:
· Apartment/condo: $1,199,000
· Townhouses: $1,699,000
· Houses: $5,550,000