BOMA BC eNews
November 15, 2023
Association News

Join the BOMA Victoria Chapter for our annual Christmas Luncheon! Featuring a buffet meal, refreshments, prizes, and more; don't miss this opportunity to socialize with your peers and celebrate the season!
 
Raffle tickets will be available for purchase on-site by cash or credit card. This year, partial proceeds will go to The Mustard Seed Food Bank.
 
Hope to see you on Thursday, November 30th at The Grand Pacific Hotel!
 

In 2024, we're gearing up to celebrate a decade of the BOMA Ski Day by bringing you something fresh! To mark this milestone, we're extending next year's event to an overnight trip, followed by a group brunch!
 
Carve some lasting memories and make tracks with fellow members and guests. Registration is limited, so secure your spot(s) early!
 
BOMA Ski Trip
Departing: Thursday, March 7th | Returning: Friday, March 8th, 2024
Whistler, BC
 

Going far beyond a standard green building certification, BOMA BEST Smart guides property owners and managers toward sustainable excellence. By enrolling, you will gain access to tools that streamline operations, enhance efficiency, and create exceptional user experiences—adding financial value for stakeholders and clients.
 
Get started towards a more sustainable future for your property!
 

Mark your calendars for the following BOMA events coming up next year! 
(Please note: events may not yet appear in our event calendar)

• Feb. 7th, QBT 
• Feb. 22nd, February Luncheon
• Feb. 27th, Okanagan Luncheon
 
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Stay vigilant with mobile patrol security. Our team at Guardteck conducts scheduled or randomized patrols to deter criminal activity. We secure properties by checking doors, windows, and managing trespassers. We also offer assistance with locking and unlocking procedures and provide rapid response to incidents and alarms. Contact us today to learn if mobile patrol is the right solution for your property's security needs.
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Regulatory News
Source: Daily Hive Urbanized
As part of its effort to make Vancouver more walkable, the municipal government is proposing to eliminate the regulations regarding the number of required parking spaces required in new building construction in the West End and Broadway areas.
Government Affairs

Since the pandemic, property crime and vandalism have been particularly challenging for the commercial real estate industry. To assist with rising property crime costs, BOMA BC has advocated to the Province for support for small business through some form of grant program.  
 
Earlier this year, the Province of British Columbia announced a rebate program to allow business to recover expenses incurred after property damage due to crime and vandalism - the Securing Small Business Rebate Program.
 
This program will open for applications on November 22nd, 2023 and applications are retroactive to January 1st , 2023.  
 
The $10.5 million program will offer up to $2,000 per business for the cost of vandalism, and up to $1,000 for vandalism protection such as cameras or gates.
 
To learn more about program eligibility, timelines, application requirements and to apply, visit the link below.
 
Source: REMI Network/Canadian Facility Management & Design
The federal government has earmarked $18.2 million in funds for projects to improve accessibility in built facilities and service provision.
Source: Daily Hive Urbanized
The Government of British Columbia is reworking community amenity contributions into an amenity cost charge framework that will be a “more efficient and transparent development-finance tool.”
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Grime Fighters Service Group
Events & Education

During our September Luncheon, Sunny Ghataurah gave an instructive presentation on the upcoming policy changes and electrification requirements for new and existing developments in British Columbia.

Considering the importance and interest surrounding this topic, Sunny created a (pdf) summary exclusively for event attendees and BOMA members who may have missed this session — click the link below to view/download.
 

Uncover the risks of hidden moisture in roofs and explore efficient detection methods. Learn how early intervention can lead to significant cost savings and enhanced energy efficiency.
 
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Good to Know
Source: REMI Network/Canadian Property Management
Generative artificial intelligence is expected to lead to advancements in the administration, brokerage and investment management services used in commercial real estate.
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Ultra-Tech Cleaning Systems Ltd
Event Calendar
16
Nov 2023
 
BOMA November Luncheon: Economic Outlook for 2024
Thursday, November 16th, 2023, 11:30 AM - 1:30 PM PDT, Fairmont Hotel Waterfront 900 Canada Place, Vancouver, BC
23
Nov 2023
 
BOMA 360 Webinar (Free for members!)
Thursday, November 23rd, 2023, 12:00 PM - 1:00 PM PDT, Zoom
30
Nov 2023
 
BOMA Victoria Chapter | Christmas Luncheon
Thursday, November 30th, 2023, 11:30 AM - 2:00 PM PST, Grand Pacific Hotel 463 Belleville Street, Victoria, BC
1
Dec 2023
 
BOMA Christmas Luncheon: Jolly Jubilee - Waitlist only
Friday, December 1st, 2023, 11:00 AM - 2:00 PM PST, Hotel Vancouver, 900 W Georgia Street, Vancouver, BC
7
Mar 2024
 
BOMA Ski Trip
Thursday, March 7th, 2024 - Friday, March 8th, 2024, 7:15 AM PST, Whistler, BC
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National News
Source: REMI Network/Canadian Property Management
Credit rating service DBRS Morningstar released commentary indicating that indoor shopping malls across Canada are experiencing a rebound following the struggles brought on by the pandemic and the sharp increase in e-commerce.
Around the Industry
Source: Daily Hive Urbanized
After filing for bankruptcy, WeWork is terminating 69 leases across the United States and Canada, including the three in the Metro Vancouver area.
Source: REMI Network/Canadian Property Management
Vancouver is one of six cities with a commercial tax rate that is three times higher than its residential counterpart.
Source: Real Estate News EXchange
A recent study found that there is a 50 per cent oversupply of parking spaces at industrial properties in the Metro Vancouver and the Fraser Valley areas.