Mount Pleasant

The main types of real estate are newer condo buildings along the Main Street corridor, including several older loft buildings, and then new and original character homes along the quieter streets. The newer condo buildings tend to be low to mid-rise concrete developments, finished nicely given price points in the area. The new character homes tend to be 2-3 family dwelling units, due to the city’s focus on densification. Many of the original character homes have undergone major renovations and renewal projects. In addition to character homes, there is also a substantial number of ‘Vancouver Special’-style houses, which were built in the late 1970’s and early 1980’s. These homes tend to be very functional in their design, but many buyers dislike them as they feel the design is bland and boring. However, when renovated and modernized, these homes are unique and highly-desired.

The vibe in Mount Pleasant tends to be young, mildly hipster, young-family-oriented, walkable, quite busy overall (traffic, sidewalk traffic, restaurant and cafe traffic), and community-oriented.

The area tends to be loved and appreciated by a huge number of residents and visitors. Downsides might include: prices have essentially increased to become similar to Downtown prices so the previous element of ‘affordability’ is mostly now gone. Also, as the area develops more and more, it’s possible that the character that Main Street once had may erode to become a street lined by almost solely new condo buildings. Another downside may be a lack of fast transit stops close enough to most of the Mount Pleasant area, which is becoming quite dense. That being said, the Broadway Subway Project, once implemented, will offer improvements here.

It’s likely the Main Street re-development projects will continue to the point that most of the streets in the area are lined with new builds. We will likely see developments of various sizes along Broadway to Commercial Drive (many being likely higher than those along Main Street). And, we will continue to see redevelopment in the residential areas with 2-3 family dwelling units replacing old single family houses. We will also continue to see 1970’s, 4-storey strata developments undergo large renewal projects given the market value of the strata units within.

Prices tend to be similar to Downtown prices when comparing similar product types. Several years ago, Mount Pleasant was a great option for buyers who wanted to live Downtown or close to Downtown, but couldn’t afford Downtown prices. But, the demand to live in Mount Pleasant increased to the point where there is no longer much (if any) discount. This will likely remain the case because the neighbourhood ‘vibe’ is quite different from Downtown in ways that many people prefer. This has already created a robust real estate micro-market.