For B.C. real estate, will COVID-19 bring down the house? [BCBusiness Magazine (Canada)]
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Source: BCBusiness Magazine
For B.C. real estate, will COVID-19 bring down the house? Although industry players remain confident, the pandemic poses challenges for the property market. It also raises questions about the province’s overall economic resilience So far, besides ushering in a certain remoteness, the COVID-19 pandemic hasn’t changed much for PC Urban Properties Corp. Everyone at the Vancouver-based real estate developer is still employed, and the 20-member team has spent the past several weeks adjusting to working from home. “I think everybody’s getting a little bit grumpy,” says principal and CEO Brent Sawchyn. “There’s a real desire to get this behind us and let’s get back to the office, let’s keep doing all the things we were doing.” PC Urban, whose portfolio spans residential, office, retail and industrial properties, has six projects under construction. They include two multifamily buildings in Kelowna and Port Moody, for a total of 400 units; a 23-unit townhome complex in North Vancouver; and th
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