April 11, 2025
Posted by Matt Scalena PREC.
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The Broadway SkyTrain extension represents one of Metro Vancouver’s most significant transit investments in decades, promising to transform how people move throughout the city and reshape neighborhoods along the corridor. But according to veteran journalist Frances Bula, the accompanying Broadway Plan—meant to guide development around this new infrastructure—may not be delivering the vibrant, diverse neighborhoods originally envisioned.
In a recent in-depth conversation on the Vancouver Real Estate Podcast, hosted by Matt and Adam Scalena of Scalena Real Estate, Bula shared her insights on how the Broadway Plan is unfolding and raised several red flags that should interest anyone considering investing in properties along the corridor.
The Broadway Plan’s Original Vision vs. Current Reality
Vancouver’s Broadway Plan covers approximately 500 blocks, extending from just east of Main Street to Arbutus in Kitsilano, and reaching about one kilometer on either side of Broadway. Unlike previous transit-oriented development in the city—such as along the Canada Line where densification was limited to roughly half a block from Cambie Street—the Broadway Plan encompasses a significantly larger area with more ambitious density goals.
“This all started many years ago because the city and the province had said, if we’re gonna build billion-dollar subway lines, we need to see that you’re doing serious things to increase density along the lines we build,” Bula explained during the podcast.
The plan initially aimed to increase the area’s population by about 50,000 residents and was marketed to the public with several key promises:
1. Creating more housing opportunities for Vancouverites
2. Protecting existing renters with comprehensive safeguards
3. Developing a diverse neighborhood reminiscent of the West End, with various building types and heights
However, two years into implementation, Bula notes a concerning trend: nearly all development proposals follow an identical template.
“What’s happened in the first couple of years is there’s only one form that’s come forward as a proposal. And that is the 18 to 20-story concrete tower with 20% below market units,” she reported. “There hasn’t been a single small apartment building proposed, there hasn’t been a single fourplex proposed, there hasn’t been a single low-rise apartment proposed.”
This uniformity contradicts the diverse, West End-inspired neighborhood that many expected. According to Bula, approximately 150 development proposals are now under consideration for the area, with an estimated 99% following this identical tower model.
Purpose-Built Rental Focus Limits Condo Investment Opportunities
Unlike many other SkyTrain corridors in Metro Vancouver, developments along the Broadway extension are predominantly purpose-built rental projects rather than the condominium developments that typically attract individual investors. This unique characteristic of the Broadway Plan area presents both challenges and considerations for those interested in transit-oriented property investment.
With nearly all development proposals focusing on rental towers with 20% below-market components, the opportunities for purchasing new condos along this prime transit corridor may be significantly limited compared to other SkyTrain lines. For investors and homebuyers specifically looking for condominium ownership near rapid transit, this rental-focused approach may necessitate looking at other transit corridors or the limited existing condo stock in the Broadway area.
This focus on purpose-built rental adds another layer of complexity to the development landscape along the Broadway extension, differentiating it from other transit-oriented communities in the region where condominium options are more plentiful.
Economic Challenges May Prevent Development
Despite the flood of development applications, Bula raises a significant concern: many proposed projects may never break ground due to changing economic conditions.
“What we’re hearing from all kinds of people, including extremely pro-YIMBY people, is don’t worry about the whole neighborhood being torn down because a lot of this housing isn’t going to go ahead because the economics don’t work right now,” she explained.
The problem stems from a mismatch between land acquisition costs and current rental market realities. Developers purchased properties at prices that made sense when rental rates were higher, but the market has since cooled. Bula noted that one-bedroom apartments are now listing for under $2,000 per month for the first time in years, with new developments offering incentives like one or two months of free rent—signs that the rental market is softening.
“People bought at a certain price expecting a certain return,” Bula observed. “They’re stuck with those high prices.”
This economic challenge creates a situation where many proposed developments may remain on paper only, potentially leading to a stalled transformation of the Broadway corridor despite the significant transit investment.
A Departure from Vancouver’s Design Legacy
For those familiar with Vancouver’s urban planning history, the Broadway Plan represents a notable departure from the city’s traditionally meticulous approach to neighborhood design.
Bula, who has covered urban planning in Vancouver since 1994, describes the city’s previous approach as “bonsai tree trimming”—characterized by careful attention to details like building aesthetics, street integration, and community amenities.
In contrast, the Broadway Plan appears primarily focused on maximizing unit counts, with less consideration for how these developments will integrate with existing neighborhoods or enhance public spaces.
“It looks like it’s only a plan to figure out how to insert 50,000 more people and only the most basic of design principles,” Bula stated. This approach diverges significantly from other successful Vancouver developments like Olympic Village or River District, which carefully incorporated public squares, parks, and community amenities.
Particularly concerning for potential homebuyers and investors is how these new developments might integrate with established neighborhoods. Bula points out that many developers are applying designs better suited for major arterial roads:
“Developers in recent years, they’ve only been allowed to build on arterials. So they’ve developed a kind of design for arterials, which is you block off the street, you put a lot of landscaping and buffering between the building and the street, you don’t make it look very accessible or friendly.”
This design approach becomes problematic when transplanted to quieter residential streets. “That’s a weird kind of design to have when you’re then going onto a street at 14th and Arbutus. That’s all old historic homes and big trees… And then you’re building these things that look like they’re built for a major highway.”
Missing Public Amenities
Another significant concern for potential residents and investors is the apparent lack of public amenity planning to accommodate the influx of new residents.
“There’s like no visible sign of what the improvement to public space is going to be. There’s no visible sign of what’s going to happen with community centers and libraries, like the Mount Pleasant Community Center is already crazy,” Bula pointed out.
For the blocks near Bula’s residence, she estimates approximately 1,000 new residents could move in—yet there appears to be little consideration for how existing community infrastructure will accommodate this growth.
This gap represents both a challenge for future residents and a potential opportunity for developers and property owners who might differentiate their offerings by incorporating or highlighting nearby amenities and community spaces.
Broader Implications for Transit-Oriented Development
Perhaps most concerning for those interested in long-term SkyTrain-adjacent property investment is how the Broadway Plan could affect attitudes toward transit expansion throughout Metro Vancouver.
If residents perceive that transit lines automatically bring poorly designed, high-density development to their neighborhoods, it could generate resistance to future transit projects—potentially limiting the growth of transit-oriented communities.
“If people feel like, ‘My God, if we get a transit line, this is what they’re gonna do to our community,’ what do you think is gonna happen in Port Coquitlam or the district of North Vancouver or Langley?” Bula asks.
This resistance could hamper the development of the integrated transit network that makes properties like those along the Broadway extension so valuable.
What This Means for SkyTrain Property Investors
For those considering investing in properties along the Broadway SkyTrain extension or elsewhere, Bula’s insights highlight several important considerations:
1. Limited condominium opportunities: With most proposals focused on purpose-built rental along the Broadway corridor, investors specifically seeking condo ownership may need to look at existing buildings or other transit corridors.
2. Economic feasibility concerns: Current market conditions may delay or prevent many proposed developments, potentially creating opportunities for patient investors as the market recalibrates.
3. Design and livability issues: The apparent lack of attention to neighborhood integration and community amenities could affect long-term property values and resident satisfaction.
4. Long-term transit network growth: How the Broadway Plan is perceived could influence the future expansion of transit-oriented communities throughout Metro Vancouver – at the very least make implementation politically unpopular and therefore more time consuming
Despite these challenges, the fundamental value proposition of transit-oriented properties remains strong. As Bula notes, one clear benefit of increased density along Broadway will be “more residents in the area who can support more interesting businesses”—particularly at the eastern end of Broadway, which she describes as “pretty grotty” in some sections.
Looking Forward
As the Broadway SkyTrain extension progresses toward completion, the coming years will reveal whether the Broadway Plan’s implementation challenges are addressed. For property investors, this evolving situation presents both risks and opportunities.
Bula suggests that demonstrating tangible benefits to existing communities will be essential for building support for transit-oriented development: “You have to show them that there’s a benefit for them.”
For those interested in SkyTrain-adjacent properties, this underscores the importance of looking beyond simple proximity to transit and considering factors like neighborhood integration, community amenities, and evolving development policies when making investment decisions.
To hear Frances Bula’s complete analysis of the Broadway Plan and its implications, listen to her full interview with Matt and Adam Scalena on the Vancouver Real Estate Podcast.
Frequently Asked Questions
What areas are covered by the Broadway Plan?
- The Broadway Plan encompasses approximately 500 blocks, extending from just east of Main Street to Arbutus in Kitsilano, and reaching about nine blocks (one kilometer) on either side of Broadway.
How many new residents is the Broadway Plan expected to accommodate?
- The plan initially aimed to increase the area’s population by about 50,000 residents, though that number may have increased in updated versions.
What types of buildings are being proposed under the Broadway Plan?
- According to Frances Bula, approximately 99% of the roughly 150 development proposals are for 18-20 story concrete towers with 20% below-market rental units, despite initial expectations of diverse building types.
Are there many condominium opportunities along the Broadway SkyTrain extension?
- Unlike other SkyTrain corridors, the Broadway Plan area is predominantly focused on purpose-built rental developments rather than condominiums, limiting opportunities for individual investors seeking to purchase units along this transit line.
Are all the proposed developments along the Broadway corridor likely to be built?
- Many industry experts believe changing market conditions may prevent numerous proposals from proceeding, as current rental rates no longer support the economics of projects based on previous land acquisition costs.
How does the Broadway Plan compare to other Vancouver development initiatives?
- Unlike other successful Vancouver projects like Olympic Village or River District, the Broadway Plan appears to focus primarily on maximizing unit counts with less attention to urban design, public spaces, and community amenities.
What protections exist for current renters in the Broadway Plan area?
- While the city initially promoted strong protections for existing renters, allowing them to move back into new buildings at the same rent, Bula suggests these protections may not be as comprehensive as originally presented.
How might the Broadway Plan affect property values in the area?
- The plan’s implementation challenges, including design concerns and uncertain development timelines, could create both risks and opportunities for property values as the market adjusts to new realities along the corridor.