After a visit to previously mentioned Luxury tour and after my attendance at the AREAA’s North American and Asia Investment summit last week, my thoughts turned to Who was buying these majectis homes in West Vancouver.
The summit was directed primarily at the Asian buyer and how to do business with the Asian buyer because this was where the new money was coming from.
My, how things have changed for a neighborhood that used to pride its own exclusivity on being British. I wonder if those responsible for setting up what is known as the British Properties in 1912 saw this coming. Poetic Justice you say?.
British Properties is easily one of the most exclusive and most expensive properties in Canada. It is most certainly the most expensive area code in Vancouver, BC.
It is interesting to note that in 1909 “Real estate boom” lots sold for as little as $450 and as much as $4,500 and in 1912,the population of West Vancouver was approximately 1,500.
The Great Depression was hitting Vancouverites hard by late 1931. The Nov. 2 Vancouver Sun carried a two-page ad of properties being auctioned by the city, which had taken over the land because the owners couldn’t pay their property taxes. In one case, the owner lost a property because they couldn’t pay $14.15
In 1932 1,600 acres (6.5 km2) of land bought by A.R. Guinness-Br. Pacific Properties was purchased for $50 a hectare and was developed as the British Properties. The attending King and Queen of that time visited the opening of what was known as the British Properties.
At this time, any one who was not a British citizen was allowed to buy in on these lots.
As a matter of fact, you had to possess a British Passport in order to buy anything in this area.
No one quite does racism like the British. Racism was an art form as was evidenced in the title given to purchasers of the lots.
My sources tell me the purchasers of these lots and owners of these titles were honored and delighted to own titles that would be criminal and emabarassing to own these days.
The $6m proceeds realised from the sale of the lots is what eventually paid for the construction of the Lions Gate bridge.The Lion’s Gate opened to traffic on Nov. 14, 1938.
The term “Lions Gate” refers to The Lions, a pair of mountain peaks north of Vancouver. Northbound traffic on the bridge heads in their general direction.
In 2006, the minority population of West Vancouver was 22.8% and the predominantly white population was 76.8%. First Nations was 0.4%. The number of Chinese Residents was 3,335 making up 8.1% of the West Vancouver population at that time.
There has been no count since 2006….No statistics exist outside this period.