Opinion: The quest is on for ideas to revive this retail hub — as well as others in well-off neighbourhoods.
As Cameron says, the dominant real-estate trend has seen people buying up older houses and replacing them with bigger ones. The average price of a home for sale is now $3.6 million.
West Vancouver district staff have estimated between 10 to 20 per cent of the city’s homes are underutilized, says Cameron. West Vancouver resident David Marley surveys outlets in Ambleside Village, including former shops and cafés that have become real estate outlets and currency exchanges. Council is trying to restrict how many are on each block.“It’s a global suburb. It’s a city that’s always been shaped by global capital, going back to when people from Britain arrived and bought up its real estate.” In recent decades, most offshore wealth has been coming from China, Iran and Europe.
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