Success brings problems in Vancouver

The New York Times recently had an interesting article about the perils of building a successful residential downtown core, The Zoning Policy That Worked Too Well. It looks specifically at Vancouver and is worth a read if you think that Seattle might one day follow in Vancouver’s foot steps:

“Vancouver probably has one of the most thriving central business districts in North America,” said Don Vassos, regional managing director of CB Richards Ellis. But the amenities that make the district attractive as a place to live — waterfront parks, mountain views and a lively dining and entertainment scene — now threaten local economic growth. “Commercial sites have been gobbled up by developers who are building residential,” Mr. Vassos said. “That creates serious problems from a tax point of view.”