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Articles by Peter Mitham
Province pays private developers a premium to acquire key sites
Peter Mitham / Western Investor - Oct 21, 2026 / 11:35 am | Story: 635163 How much should governments pay to acquire land? Under the BC NDP, the province has acquired several private properties for public use, paying what some industry sources describe as an unusual premium. In fall 2025, the province announced that it had allocated $26 million to the Conseil scolaire francophone de la Colombie-Britannique to acquire 3044 Pratt St., Abbotsford, for a Francophone school.
B.C. Green leader's ‘economic populism’ aimed at younger voters
BC News Peter Mitham / Western Investor - Oct 21, 2026 / 11:35 am | Story: 635163 Photo: Youtube.com/@HardyRealEstateTeamOfficial. The province provided the Conseil scolaire francophone de la Colombie-Britannique with $26 million to acquire 3044 Pratt St., Abbotsford, for a Francophone school. How much should governments pay to acquire land? Under the BC NDP, the province has acquired several private properties for public use, paying what some industry sources describe as an unusual premium.
Empty homes tax debate swirls 10 years after pioneering tax in Vancouver
BC News Wolfgang Depner, The Canadian Press - Oct 21, 2026 / 4:43 pm | Story: 635213 Photo: The Canadian Press B.C. NDP Leader David Eby sits with seniors during a provincial election campaign stop at the Progressive Intercultural Community Services Society (PICS) senior care facility, in Surrey, B.C., on Wednesday, Oct. 21, 2026.
Under-utilized Surrey industrial site set for job-intensive makeover
Demand for large-format industrial space is driving Metro Vancouver’s industrial market this year, but a 16-acre site in Surrey is set for a makeover that will see multiple uses with a single focus deliver more than the usual logistics hub. Surrey city council approved a rezoning application by Conwest Developments Ltd. in January that will see it develop a multi-tenant, mixed-use auto mall for OpenRoad Auto Group Ltd.
Under-utilized Surrey industrial site set for job-intensive makeover Original
Demand for large-format industrial space is driving Metro Vancouver’s industrial market this year, but a 16-acre site in Surrey is set for a makeover that will see multiple uses with a single focus deliver more than the usual logistics hub. Surrey city council approved a rezoning application by Conwest Developments Ltd. in January that will see it develop a multi-tenant, mixed-use auto mall for OpenRoad Auto Group Ltd.
Foreign investor pays $18.2M for Tsawwassen Corner Shopping Centre Original
Strong interest following the listing of Tsawwassen Corner Shopping Centre at 1215 56th St., Delta, last fall has culminated with the property’s sale to a foreign investor. The transaction closed on July 8, with a final sale price of $18.2 million. This was slightly below the 2025 assessed value of $19 million.
Creative reuse secures Doka Canada large-format space in tight market
Metro Vancouver’s industrial vacancy rate fell in the last quarter, due in part to demand from large-format users for whom local space is part of much larger, international portfolios. But the demand is running smack into an old problem, the lack of new supply – and in particular, the kind of large-format buildings driving current demand.
Okanagan Falls industrial park, former site of Weyerhaeuser mill, up for sale
Peter Mitham / Western Investor - Apr 15, 2026 / 11:38 am | Story: 609017 A portfolio of industrial, hospitality and agri-tech assets in Okanagan Falls is on the market as the owners execute a long-standing exit strategy. Avery Group, owned by Garry and Victoria Peters, acquired the 114-acre former Weyerhaeuser mill site in Okanagan Falls in 2019 with the vision for an industrial park.
Alberta Leads Western Canada in Economic Growth, RBC Says Original
Alberta is home to the largest economy in Western Canada, with a projected real gross domestic product (GDP) in 2025 of $361 billion (all values based on Statistics Canada data, which uses 2017 dollars). RBC Economics projects growth of 2.3 per cent this year, the strongest in Western Canada, despite the impact of lower oil prices, tariff headwinds, and softer demographic growth. However, all provinces except for B.C. are set to see growth moderate in 2026.
Office properties set for comeback as investors take heart in 2026
With strengthening activity in the latter half of 2025, commercial real estate is entering the new year as the asset type to watch. Retail investment activity remains strong, with sales and leasing activity enjoying ongoing strength in many markets despite macroeconomic uncertainties. Office space is also seeing renewed interest as private investors swoop in to acquire properties given an ongoing pause in construction that will limit options as leasing activity picks up.
Vernon land assembly including Tiki Village Motel hits the market - Vernon News
A strategically located land assembly in downtown Vernon has hit the market for $6 million, on the heels of a municipal housing needs assessment underscoring the need for significant additions to the city’s housing stock. Comprising 13 parcels across eight addresses bounded by 24 and 25 avenues, 34 and 34A streets, the site totals 115,087 square feet (2.64 acres). The assembly includes six homes as well as Tiki Village Motel, a local landmark.
Vernon land assembly including Tiki Village Motel hits the market - Vernon News
A strategically located land assembly in downtown Vernon has hit the market for $6 million, on the heels of a municipal housing needs assessment underscoring the need for significant additions to the city’s housing stock. Comprising 13 parcels across eight addresses bounded by 24 and 25 avenues, 34 and 34A streets, the site totals 115,087 square feet (2.64 acres). The assembly includes six homes as well as Tiki Village Motel, a local landmark.
Lightning strikes down but more heat primes wildfires in B.C.: wildfire service - BC News
The BC Wildfire Service says there were just 74 lightning strikes on Labour Day compared with thousands that peppered the province and sent fire numbers soaring in the last days of August. The number of wildfires has jumped in the last week from 70 to almost 170, with most of the out-of-control blazes burning in the southern Interior.
Blaze burning alongside Coquihalla Highway south of Merritt estimated at 105 hectares: BCWS - BC News Original
There is no word yet on Tuesday from the BC Wildfire Service on any overnight growth on a blaze burning along the Coquihalla Highway between Merritt and Hope. The Mine Creek wildfire was discovered on Monday. It was estimated at 105 hectares in size on Monday evening, burning just north of the Coquihalla Summit Recreation Area. A BCWS information officer told Castanet an update is expected by Tuesday afternoon. DriveBC is not listing any wildfire related closures in the area.
Residential land demand slows as macroeconomic uncertainties continue - BC News
Peter Mitham / BIV - | Story: 569906 With multiple policy changes at the local, provincial and federal level designed to spark new residential construction, Western Canada’s residential land market should be on fire. But multi-family broker Mark Goodman of Goodman Commercial Inc. in Vancouver sees quite a different reality, with a surge in listings giving buyers the upper hand and putting downward pressure on prices.
Residential land demand slows as macroeconomic uncertainties continue Original
With multiple policy changes at the local, provincial and federal level designed to spark new residential construction, Western Canada’s residential land market should be on fire. But multi-family broker Mark Goodman of Goodman Commercial Inc. in Vancouver sees quite a different reality, with a surge in listings giving buyers the upper hand and putting downward pressure on prices. Often, a couple of price reductions are needed before offers start rolling in – and even then, it can be tough.
Multi-family activity picking up after a lacklustre first half
Multi-family brokers see signs of increasing activity following a lacklustre first half, with sales down markedly versus a year ago. Metro Vancouver sales declined by more than 40 per cent in the first six months of 2025 versus a year earlier, according to data from Goodman Commercial Inc. Transactions were down 46 per cent to 32 deals, while total value fell 40 per cent to $537.3 million.
Kamloops industrial park prepares for autumn sales launch Original
Plans for a new industrial park west of Kamloops at the junction of the Trans-Canada and Coquihalla highways are a step closer to reality following rezoning of the site on July 29. Kamloops city council approved rezoning of the 190-acre site to light industrial use from agriculture and future development, setting the stage for Comet Industries Ltd. to proceed with the Iron Mask Industrial Park.
Japan's Panasonic announces a new chief at one of its companies as its profits barely hold up - Business News
Japanese electronics and technology conglomerate Panasonic has chosen a new chief executive at one of the group's companies after eking out a 1.2% rise in its first-quarter profit. Kenneth William Sain, a former Boeing executive, will replace Yasuyuki Higuchi as Panasonic Connect's president and chief executive in April 2026, the company said Wednesday. Panasonic Connect offers solutions and products for various supply chains, public services, infrastructure and entertainment sectors.
Federal Reserve leaves interest rates unchanged even as Trump demands cuts - Business News
The Federal Reserve left its key short-term interest rate unchanged for the fifth time this year, brushing off repeated calls from President Donald Trump for a cut. The Fed’s decision Wednesday leaves its key short-term rate at about 4.3%, where it has stood after the central bank reduced it three times last year. Chair Jerome Powell has said the Fed would likely have cut rates already if not for Trump’s sweeping tariffs.
Kal Tire sells seven locations in southern B.C. - Business News Original
Strong brand recognition and strong covenants underpinned the recent sale of a portfolio of seven Kal Tire locations across southern B.C. on June 30. The seven stores, with a gross leaseable area of approximately 50,000 square feet, were located in Castlegar, Courtenay, Hope, Golden, Lillooet, Lumby and Nakusp. A private investor from Greater Vancouver acquired them for just short of the asking price of $9.28 million.
Buyers seek value in farmland as uncertainties persist
Buyers are looking beyond current uncertainties in the quest for farmland this spring, but many are taking a closer look at deals to ensure they’re getting the best value for their money. “These are long-term investors, really resilient, and they tend not to get caught up in the short-term issues like tariffs,” said Roy Carter, founder and CEO of CLHBid.com, an auction site specializing in farm properties.
Toronto's Dream picks up waterfront industrial site in North Vancouver
Stymied by years of rejection by the District of North Vancouver, Wesbild Holdings Ltd. has sold 1371 McKeen Avenue to an institutional investor. The 27-acre parcel sold Jan. 31, with industry sources identifying the buyer as Dream Summit Industrial LP of Toronto. A purchase price was not disclosed, but Wesbild president and CEO Kevin Layden said it came in below the $6.6 million an acre HTEC paid last year for 100 Forester Street, also in North Vancouver.
Kelowna industrial space poised to share in market rebound - Kelowna News
Standing inventory in Kelowna’s industrial market is on track for absorption this year as buyers return to the market and leasing demand remains steady. “There’s definitely momentum and we’re optimistic about this year, especially over last year,” said Travis Blanleil, an associate vice-president with CBRE Ltd.
Kelowna industrial space poised to share in market rebound - Kelowna News
Standing inventory in Kelowna’s industrial market is on track for absorption this year as buyers return to the market and leasing demand remains steady. “There’s definitely momentum and we’re optimistic about this year, especially over last year,” said Travis Blanleil, an associate vice-president with CBRE Ltd.
Alberni growers face cutworm
A pilot project to transform food distribution in the Kootenays is underway through the Central Kootenay Food Policy Council (CKFPC). “It’s challenging for our small-scale seasonal producers to find a carrier they can afford. Those that are successful are usually transporting their own goods within the region, a time-consuming, inefficient process that takes them away from producing," says CKFPC executive director Damon Chouinard.
Commercial real estate outlook rides forward with industrial strength
The past year saw a welcome round of interest rate cuts, the first since 2020, with the Bank of Canada’s policy rate falling five times since April to end the year at 3.25 per cent, 175 basis points below where it stood a year ago. A corner had been turned, setting the stage for a return of investor confidence. And the resurgence could have industrial strength, says Cory Wright, managing director, B.C., with William Wright Commercial in Vancouver.
Collaboration key to dairy growth
Boosted by the first quota increases since the last free trade deal was signed, BC dairy producers have set their sights on market growth in the years ahead. A focus on attracting processor investment is key, with two major processing plants on the horizon locally and the Canadian Dairy Production Council eyeing niche markets that could add $1.4 billion annually to the sector’s national revenues.
Vancouver Island bucks B.C. trend with low residential investor-ownership
The annual release of home ownership data by Statistics Canada in early October points to Vancouver Island communities having some of the lowest rates of investor-owned residential real estate in the province. Parksville is a case in point, with investor-owned properties accounting for 14.9 per cent of the residential inventory. It has the lowest rate of 26 municipalities surveyed, with Campbell River ranking third at 17.2 per cent.
Vancouver real estate markets set to normalize in 2025, says CBRE report - BC News
With the uncertainties of a Trump presidency priced into capital markets, the year ahead promises steadier economic times and a normalized environment for Vancouver real estate. Data presented as part of CBRE Ltd.’s outlook event in Vancouver, Nov. 6, pointed to growing confidence among real estate tenants and investors, with lengthening lease terms on downtown office space and a balanced market on the horizon.
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