The dream of the white picket fence that spurred a mass exodus to the suburbs may have dominated Western culture since the 1950s but today’s families are reversing the trend and turning their attention back to the urban city. The reasons are many: An appreciation for cultural offerings, the camaraderie and creative cross-pollination of networks of colleagues, friends and family, the convenience of being able to walk or bike to school, work or child care without a long commute — just to name a few. Vancouver has always been a haven for forward-thinking city planning and its newly re-imagined neighbouring urban centres, like Burnaby’s Metrotown, Brentwood and Edmonds offer a good choice for family living.
Shifting Demographics
There are more children living downtown than in Vancouver’s most expensive residential neighbourhoods. The higher-density community plans of the past 30 years and the soaring house prices of the 2000s have changed the city’s demographic makeup. Currently, there are an estimated 7,200 children living in the downtown peninsula. In Point Grey, there are less than half that number. Point Grey has long been viewed as the choice family neighbourhood, and downtown the haven for singles. Not so much anymore. Driven in part by high single-family home prices, low available housing inventory and a desire to live nearby work and daily amenities, families are embracing condo life.
Building for Families
And, the good news is that developers are responding to the new demand with units and amenities that appeal to the needs of families. For many years, the standard development requirement was for 25 per cent of the condo units to be designated for families (defined as 2-bedroom or larger homes), but urban living is proving to be much more popular than developers or city planners imagined. Now we are seeing new developments coming to market with as much as 40 percent of homes targeted to families and with kid-focused amenities built right in. Study rooms, music rooms, private party rooms, and arcades are just a few of the great amenities we can look forward to.
A New Elementary School for Downtown Vancouver
In Vancouver, in response to the overwhelming demand for schools, the Vancouver School Board is building its first four-storey elementary school on Expo Boulevard with capacity for 510 students. Construction of the 48,000-square-foot facility is scheduled to complete in early 2017.
Planning for the Future
So what can you do when planning a family? Consider what your long term living requirements are and start saving for the future. For some couples, purchasing a pre-construction condo (as known as a “presale” home) makes ownership easier through a flexible deposit program during a long construction timeline and guarantees them the right sized home when they are ready to expand their family.