Deep Cove is a small, waterfront-oriented village centre at the eastern edge of the District of North Vancouver—nestled within the forests of the North Shore Mountains. “The Cove”, as locals call it, is 13km from Downtown Vancouver, once the traditional fishing area of the Tsleil-Waututh First Nation. It’s one of the most desirable and picturesque places to live in British Columbia—home to outdoor recreation enthusiasts, celebrities, business owners, and real estate aficionados, hence the expensive price tag. It’s no mystery why there are hardly any listings available. Why would anyone want to live anywhere else?
The average home price in Deep Cove is $2,752,500, up 28% from last year. The sales-to-active listings ratio sits in balanced territory at 20%, down 71% from last year. There are currently around 10 active listings in the area ranging from $1,699,000 to $6,350,000.
Mountain Forest (CMHC)
The Mountain Forest is owned by the Canada Mortgage and Housing Corporation (CMHC) located just outside the District of North Vancouver’s urban containment boundary. It’s not connected to municipal storm, sanitary or water services, and has no access roads. 75 orphaned lots exist in Mountain Forest, with only around 18 sales in the last 20 years. The legal plan for the lots is dated 1905, and the most recent survey was done 12 years ago. The District has no current or contemplated future plans of installing public road improvements or other municipal services, and has no intention of permitting others to install private driveway improvements or private utilities on District property to facilitate the development of these lots in the foreseeable future.
All I can think of is building a tiny house community, holding and renting it out on Airbnb, since there’s no jurisdiction over short-term rentals. No motor vehicles or dirt bikes are allowed in the woods, however, CMHC has granted permission for recreational use of their lands such as mountain biking and hiking.
No visit to Deep Cove is complete without stopping at the world-famous Honey Doughnuts. A local café in the heart of a quaint seaside village that feels just like home. Serving mouth-watering, freshly made fare since 1996—founded by a husband and wife team, Ashifa and Ashak Saferali. Ashak worked in commercial real estate prior to acquiring the already profitable business. He shifted focus from real estate to doughnuts in order to have the flexibility to spend time with his family. Being in business for that long, they must be doing something right.
Unfortunately, some are now facing significant rent increases, as much as five times what they are currently paying. Commercial tenants are on month-to-month leases, but when grandfathered in at those rates, it creates a challenge for property owners to keep up with maintenance without increasing rent. When rents go up, so too does the value of the land.
Honey’s is an absolute gem that represents the spirit of Deep Cove—a place to enjoy the finer things in life. If you ever find yourself in the area, please do yourself a favour and visit Honey Doughnuts before taking in the beautiful sights of “The Cove”.
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