River District Vancouver - A Vision in the Making!
BONUS at the end: The Rate Cut and What it Means to You...
Eitan Pinsky Mortgage Expert Team Logo

For the Month of August 2015

River District, a 10 times award-winning community, spans 130 acres is Vancouver's newest and largest masterplanned waterfront community. This community, will include 7,000 homes, shops, restaurants, schools, daycares, parks and a community centre. 

The coolest part about the River District (for me at least) is that my own (fantastic and amazing) wife and her office, Shift Architecture, is actively involved in designing some of the new residences. Most recently Shift has worked on Shoreline and New Water.
FUN FACT! River District will have more residents than Yaletown!
Check below for more information.
River District Rendering


  • Southeast Vancouver's past is closely linked to its waterfront.
  • In pre-history, this flatland, what is now known as River District, was the home of bear, cougar, and elk.
  • The natural abundance of the river and surrounding pasture brought fishers and farmers.
  • Soon a township sprang up around a growing lumber industry. Eventually sawmills such as The Dominion and The Canadian White Pine lined the riverbanks.
River District's Vision: Steps from the Fraser River, pier, cycling trails, and waterfront parks, River District is set to revive the community's connection with the river as homes, restaurants, shops and community buildings bring new life to the waterfront. 
River District Fly Over Picture


Marine Way (north)
Boundary Road (east)
Fraser River (south)
Kerr Street (west)


There will be FIVE neighbourhoods once the project is complete: 
  1. In the west, Hill Point is perched atop the north side of the property with views of the Fraser
    • Homes will be townhomes & low-rise condominiums
    • The majority of these homes are already completed
  2. South of Hill Point, fronting the river, will be Pier Point
    • Condominiums will offer easy access to tree-lined trails by the water
    • Romer's Burgers and the community centre is situated here
  3. In the centre, Mill Bay is the hub of the new community
    • Retail stores mixed with high-rise homes and townhouses 
  4. Above Mill Bay is The Crescent 
    • Provides easy and convenient access to and from the community
  5. To the east is Avalon
    • Public greenspace for sport and recreation 
    • Homes will be multi-family, many with elevated views over the river towards Mount Baker

Real Estate

Residential Statistics
  • 7,000 homes and 15,000 residents
  • 7.2 million square feet of residential space
  • 250,000 square feet of retail space
  • 260,000 square feet of office space

TIP: Use a Realtor!

Interested in Purchasing in the River District?
I recommend to always use a Realtor.

There are many sales centres where you can view "show suites."

If you're interested in a property at River District or any other new development, representatives at sales centres may try to convince you that signing a contract to purchase exclusively with them will provide you with savings... oy... In my experience, I have not found this to be true.

Always use a realtor! If you don't have a good realtor who can provide you with solid advice, please don't hesitate to give me a call; I'd be pleased to recommend some of the amazing realtors I work with.

River District Centre

  • Innovative building created to host events such as:
    • YYoga pop-up events
    • Movie nights
    • State-of-the-art model & interactive exhibit of the vision for River District
    • Recycled driftwood play structure, sandbox, and park
    • Beach volleyball 
    • Sports leagues for adults

Shopping & Dining

Already open:
  • Farmers Market
    • Every Saturday May 30 - October 10 from 10am-3pm
    • 8683 Kerr St. Vancouver
  • Romer's Burger Bar
    • Waterfront restaurant featuring 100% certified organic burgers
    • 8683 Kerr St. Vancouver

In the upcoming years, River District will become its own mini-city complete with a European-style town centre - a pedestrian-only plaza that will feature:

  • Shops
  • Restaurants
  • Grocery Store
  • Banks


River District will have:
  • Brand new elementary school
  • 4 daycare centres (spots for 256)
  • 25 acres of park space
  • Waterfront community centre
  • 5km riverfront pathway
Do you know anyone who needs mortgage advice? Eitan is available now to put his FREE expertise to use. Please introduce Eitan at 778-990-8950
Introductions are the backbone of our small business.
We thank you in advance for your kind support.

BONUS - The Rate Cut: What does it Mean?

On Wednesday July 15, the Bank of Canada cut the overnight lending rate by 0.25%.

How does that affect you?

If you are in a fixed rate mortgage it has no impact at all. If you have other higher interest debt such as credit card or car loans, again it has no impact.

If you are one of the 12.5% of mortgage holders in a variable rate mortgage you did a mostly-happy-dance when the lender passed on a 0.15% rate cut to holders of variable rate mortgages and secured lines of credit.

Only mostly happy as you asked; ‘where did the other 0.10% go?’

This is the second 0.25% rate drop this year, and the second time the mortgage lenders have retained 0.10% of that drop. Lenders are increasing their profit margins on the variable rate product, and there is little that borrowers can do about this.
The big question is whether or not the same metrics will apply when it comes time for rates to rise, which may well be some time off into the future. Will the next 0.25% rate increase result in just a 0.15% lender increase, or will lenders hit borrowers with the full increase?

Only time will tell. The fine print of mortgage documents gives this power to the lenders, as variable rate mortgages are granted at ‘lender prime’ not the Bank of Canada prime.

What about the impact of low rates on the housing market?

Again there appears, thus far, to be little impact on fixed rates, and the qualifying rate used to obtain a variable rate mortgage remains at 4.64%,. In other words, the rate cut has not directly translated into greater borrowing power for consumers at all. Thus, it should do little to push prices any higher in the already hot markets.

As always, if you have additional questions on this topic, or general mortgage questions, I’m here to help!


Eitan Pinsky Mortgage Expert Team
Origin Mortgages - Dominion Lending Centres
778.990.8950  |
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