It was a huge surprise that most people were not aware about so much space in metro Vancouver, thus River district being a mystery to most of the people.
Don’t get shocked to know that it covers 130 acres of area and it can provide home to over 15,000 people. It includes 7.2 million square feet of residential space, 260,000 square feet of office space and 250,000 square feet of retail space. As if that was not enough, it also includes an elementary school, parkland and daycare centers.
River District is being constructed since over a year and now, it seems that the vision is turning into reality. Three projects are already built which includes over 600 homes and the fourth one is being constructed now, after which only the final fifth will remain. However, the fifth one is in the permitting process right now. When the construction will be over, there will be five interconnected neighborhoods which will provide over 7000 houses. These homes include everything from the townhouses and low rise apartments to the high rise towers.
In the early second half of this year, one town centre will be ready which will be followed by the second town centre. The town centre is a social hub, as the name suggests will be at the centre of the town and will be the heart of the community.
Now about the three, five and ten year plan, all the public and commercial components are anticipated to be completed in the next three years. However, the boutique and other retail anchors will take five years to get completed. Apart from that, the planning includes the residents-only facility buildings with the fitness facility, squash courts as well as yoga and dance studio. The residential development that is still left out would be completed in five to ten years. The completion of the entire master plan is predicted to be finished in 15 years.
Two sites have already been allocated to schools. The reason behind this is that, it has been the number one element which the buyers look out for when buying the residential property, as according to them, it is kids who bring the neighbors together and build a natural and authentic network. The number two element that buyers look for is shopping. People desire for the social aspect at the walking distance where they can go for shopping or having coffee to meet up friends after a long day’s work. While the third component, proximity to nature has been taken into the consideration, the fourth one, walk-ability has also been considered. So, irrespective of the place you are at, you will never be more than ten minutes away to the coffee shop. You can easily park your car and then ride on bike or walk across the path safely. Well, transportation facilities are also being planned.
What is exciting here, is to see, after five years, how the River District has been evolved and turned out to be!
Naz Allahyari is a Vancouver real estate agent specializing in selling or buying a home in North Vancouver, West Vancouver, and as well as condos in Downtown Vancouver.
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