The Biggest Development in Vancouver's History
The Oakridge Park redevelopment is unlike anything Vancouver has seen before. What was once a conventional shopping mall at 41st and Cambie is being transformed into a 28-acre mixed-use community that will fundamentally reshape this corner of the city.
Developed by QuadReal Property Group (a subsidiary of British Columbia Investment Management Corporation), the project represents roughly $6 billion in total investment — making it one of the largest private developments in Canadian history.
What's Being Built
The numbers are staggering:
- •3,300+ residential units including condos, townhomes, and rental apartments
- •9-acre public park on the rooftop — larger than two football fields
- •560,000 sq ft of retail space with a reimagined shopping experience
- •Office space for a new generation of Vancouver businesses
- •Community centre with a 50-metre swimming pool, ice rink, and fitness centre
- •Childcare facilities for 200+ children
- •A 1.2-acre civic centre plaza for community events
The design preserves key view corridors to the North Shore mountains while creating a pedestrian-friendly environment connected directly to the Oakridge–41st Avenue Canada Line station.
Timeline: Where Are We Now?
Construction has been underway since 2019, and here's the current status as of early 2026:
- •Phase 1 residential towers: Substantially complete, first occupancies beginning
- •Retail podium: Interior finishing underway, partial opening expected mid-2026
- •Rooftop park: Landscaping and amenity installation in progress
- •Community centre: Construction advancing, expected completion 2027
- •Remaining residential phases: Continuing through 2028
The full project completion is expected by 2028-2029, but residents and shoppers will be enjoying major portions of the development well before then.
Impact on Property Values
The Oakridge Park redevelopment has already had a significant impact on surrounding property values:
For Sellers: - Properties within a 10-minute walk of Oakridge Park have seen 15-25% appreciation above the citywide average since the project was announced - Detached homes on the west side of Cambie between 37th and 49th have been particularly strong - Older condos in the area are commanding premium prices due to proximity to the new development
For Buyers: - Pre-sale units within Oakridge Park are priced at a premium — expect $1,200-$1,800+ per square foot depending on the tower and floor - Resale properties nearby offer better value but still benefit from the "Oakridge effect" - The best value may be found in adjacent Marpole, where you're still close to Oakridge amenities but at lower price points
For Investors: - Rental demand in the area is extremely strong, driven by the Canada Line and new amenities - Expected rental yields are competitive with other transit-oriented locations - The community centre, park, and retail will create lasting neighbourhood appeal that protects long-term value
Transit & Connectivity
One of Oakridge Park's greatest advantages is its transit connectivity:
- •Oakridge–41st Avenue SkyTrain Station (Canada Line) — direct connection to downtown (15 min), YVR airport (20 min), and Richmond
- •Multiple bus routes along 41st Avenue and Cambie Street
- •New cycling infrastructure being integrated into the development
- •Pedestrian bridges connecting the development to surrounding streets
What This Means for You
If you're considering buying or selling in the Oakridge area, the redevelopment creates both opportunities and considerations:
If you're buying: This is a once-in-a-generation neighbourhood transformation. Properties purchased now will benefit from years of increasing amenity and infrastructure as the development completes. The key is understanding which micro-locations within the area offer the best value.
If you're selling: Your property may be worth more than you think. The "Oakridge premium" is real, but timing matters. As more phases of Oakridge Park complete, the premium could increase further — or it could plateau as supply catches up with demand.
Either way, having an agent who deeply understands this specific market is essential. I track every sale, every listing, and every development update in this area. Let me help you make the most informed decision possible.
Ready to Explore Your Options?
Whether you're looking to buy near Oakridge Park or wondering what your current home is worth in this transforming market, I'm here to help. Contact me for a no-obligation conversation about your real estate goals.
Have Questions?
I'm happy to discuss any of the topics covered in this article. Reach out for a no-obligation conversation.
