City of Vancouver is planning for potential flooding scenario due to rising sea level

City of Vancouver is planning for potential flooding scenario due to rising sea level

  • British Columbia
  • Economy
  • Environment
  • Policy
November 18, 2020

Rising sea level becomes a major topic of discussion due to climate changes and the melting artic zones. As a costal province and within the earthquake zone, British Columbia should envision in a disaster situation. There was multiple earthquake (causes tsunami or flooding due to tectonic plate movements) warnings in the past, but nothing serious happened. We should still be aware of where we are and prepare for an emerging situation.

Research by from the City of Vancouver projects a 50cm of sea level rise over the next 30 years, one metre by 2100, and two metres by 2200. The rise of sea level could cause more intense and frequent flooding along the shoreline and Fraser River. It erodes beaches and destroy existing buildings and infrastructures.

If the sea level did rise according to projection, it will change the whole real estate situation in the area. Below is a map indicating where the flooding will occur according to the sea level projection. The area projects up to 2100. If by 2200 the sea level rise by another meter, more homes will be affected. Richmond is a totally different situation given that Richmond resident fled to Vancouver last time a major Earthquake was forecasted.

Referring to the map, majority of the industrial area along the Fraser River is already affected. Musqueam and Southland area where luxury homes are located.  The same goes for Jericho Beach and Kitsilano. It explains why Marpole Official Community Plan did not extends far out along the Fraser River.

If we look at the 2100 projections, Canada Place and Gastown are in danger. They are major revenue generating location for the province. Granville Island will be fully covered. An even bigger concern is False Creek. The potential flood map projection extends all the way beyond the Train station. It is also where future St Paul hospital will be located. Olympic Village, Science World and Rogers Arena are also in the flood zone.

If a flood does occur, our key infrastructure that supports our economic activity, transportation, and healthcare will take a major hit. The north false creek area is full of newly built high-rise towers by Concord Pacific as well. Insurance premium is likely to rise, land value will take a hit, and resident might lose amenities if a flood does occur.

The City of Vancouver is preparing for this unseen threat with False Creek Coastal Adaptation Plan. It is currently in discussion stage and will be diving deeper into the situation soon. Given the amount of natural disaster occurred in 2020. Let’s hope nature will be nice to us until we’re ready.

Yoyoe Lu

Founder and managing principal
yoyoe@claridgeadvisors.com

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist
ashley@claridgeadvisors.com

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist
patricia@claridgeadvisors.com

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

Land Assembly & Residential Specialist
schumann@claridgeadvisors.com

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate
wendy@claridgeadvisors.com

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

Managing Broker
simon@claridgeadvisors.com

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Frank Zhou

Analyst
frank@claridgeadvisors.com

As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.

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