
Vancouver council approves plan for future of Rupert and Renfrew neighbourhood, including 10K homes
Highrise towers and thousands of new homes are in store for an East Vancouver neighbourhood, after city council voted through big changes Tuesday.
Councillors unanimously approved the Rupert and Renfrew Station Area Plan, a land-use plan that will shape the area now home to almost 31,000 residents.
The newly approved plan calls for high-density residential and mixed-use towers up to 45 storeys tall near the two SkyTrain stations and up to 26 storeys tall further away from the stations.
The plan estimates it will introduce more than 10,000 new homes to the area, bringing the total number to 22,400 by 2050, according to a staff report presented to council Tuesday. At the same time, staff say, the population of the area will grow an estimated 61 per cent to 49,600.
The plan also features "villages" that will prioritize missing middle housing options, such as six-storey buildings and multiplex homes.
WATCH | Council approves major neighbourhood plan:
Vancouver councillors give Rupert and Renfrew Station Area Plan green light
10 hours ago
Duration 1:50
A neighbourhood in East Vancouver is set to transform over the next few decades after councillors approved a plan on Wednesday to boost housing and jobs near the Rupert and Renfrew SkyTrain stations.
Josh White, the city's chief planner, said the plan will allow the community to flourish.
"We have SkyTrain infrastructure that's been in place for over 20 years now, and [the area is] arguably underdeveloped around in terms of high density uses, homes, jobs," he said.
"And this is an opportunity to really take advantage of that infrastructure, that great connection to the rest of the city and the region."
Around 80 per cent of the households in the plan area live in single-family homes, according to the city staff presentation. Only 10 per cent of the area's existing housing stock is rental apartments.
More than 70 per cent of the population identifies as a visible minority, according to the report.
Coun. Peter Meiszner said the plan will create a "complete community" around the Rupert and Renfrew SkyTrain stations that will allow people to walk to local shops and services and protect employment lands.
"We've seen lots of development in communities to the east, adding thousands of new housing units, and now we're going to see the same here in Vancouver, but it's going to have a distinctly Vancouver flavour," he said.
"There'll be more open space, there'll be a focus on rental and below-market housing and community amenities."
Still Creek to be widened
The city has included a capital plan of $1.2 billion for related infrastructure and amenity priorities over the next decade, including for Still Creek enhancement, renewal of Frog Hollow Neighbourhood House, new child care spaces, rental housing, water, sewer and drainage, and parks.
Still Creek, one of only two salmon-bearing creeks remaining in Vancouver, will be daylighted and widened, which city staff say will help manage flood risk resulting from increased development and climate change.
The city will also ban building underground parking within 30 metres of the creek, and underground parkades will be limited to two levels within a larger boundary.
Three sub-areas of the plan will focus on employment uses such as offices, laboratories and hotels, as well as include space for distribution, storage and repair industries. Staff estimate the plan will bring 8,000 jobs to the area.
Several spots, including the Akali Singh Sikh Society site, Still Creek and Kaslo Gardens co-ops, the Italian Cultural Centre, and Casa Serena, among others, have been designated as "unique sites" that require more focused policy that acknowledge an area's specific context.
White said the city now expects developers to apply for rezoning permits to develop buildings under the new area plan.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CBC
an hour ago
- CBC
Developer and housing researcher debate foreign investment in B.C. real estate
Retired UBC geographer David Ley is one of the 27 signatories of a letter sent to the prime minister taking a stance against foreign investment in housing in B.C. On the other hand, Cressey Development Group is a signatory of an open letter asking for restrictions on foreign investment to be lifted. Ley and Cressey's executive vice-president Hani Lammam join us on On The Coast to debate which approach is better.


Globe and Mail
an hour ago
- Globe and Mail
Amgen Inc. Reports Strong Q2 2025 Financial Results
Amgen Inc ( (AMGN)) has released its Q2 earnings. Here is a breakdown of the information Amgen Inc presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Amgen Inc., a leading biotechnology company, specializes in developing innovative medicines for serious diseases, including cancer, heart disease, and rare conditions. In its recent earnings report for the second quarter of 2025, Amgen announced a 9% increase in total revenues, reaching $9.2 billion, with product sales also growing by 9%. The company's GAAP earnings per share saw a significant rise of 92%, driven by increased revenues, while non-GAAP EPS rose by 21%. Key products such as Repatha and EVENITY showed strong double-digit sales growth, and the company continued to invest in its research and development programs, including the promising MariTide studies. Looking ahead, Amgen remains focused on sustainable, long-term growth, with a projected revenue range of $35.0 billion to $36.0 billion for the full year 2025, and continued investment in its robust pipeline of innovative treatments.


Globe and Mail
an hour ago
- Globe and Mail
Royal Gold (RGLD) Q2 Net Income Up 45%
Key Points Royal Gold posted record net income and operating cash flow for the quarter, though GAAP revenue missed analyst estimates by 3.8%. The company announced major acquisitions. These 10 stocks could mint the next wave of millionaires › Royal Gold (NASDAQ:RGLD), a leading precious metals streaming and royalty company, released its second quarter 2025 earnings on August 6, 2025. The report highlighted record GAAP net income of $132.3 million. Net cash provided by operating activities totaled $152.8 million, compared to $113.5 million for the three months ended June 30, 2024, but GAAP revenue came in below analyst forecasts at $209.6 million—falling short of the $217.8 million consensus. Management emphasized progress on strategic acquisitions and portfolio diversification. Overall, the quarter reflected record financial results driven by higher precious metal prices, balanced by headwinds related to recent transactions, rising leverage, and partner mine performance. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (Non-GAAP) $1.81 $1.69 $1.25 44.8 % Revenue (GAAP) $209.6 million $217.8 million $174.1 million 20.4% Adjusted EBITDA Margin 84 % 81 % 3 pp Free Cash Flow (Non-GAAP) $40.1 million $62.4 million (35.7 %) Operating Cash Flow (GAAP) $152.8 million $113.5 million 34.7 % Source: Analyst estimates for the quarter provided by FactSet. About Royal Gold and Its Business Model Royal Gold acquires and manages streams and royalties from gold, silver, copper, and other metal mining operations. Instead of running mines, it finances mining partners in exchange for rights to a fixed share of production or revenue. This means it generates income without bearing the direct costs and operational risks of mining. Its financial results depend mainly on commodity prices—especially gold, which contributed 78% of revenue. Other key factors for success include effective acquisition and management of stream and royalty interests, a strong balance sheet, and ongoing operational performance at partner mines. The company's strategy focuses on expanding its portfolio and maintaining competitive advantage through deals and prudent capital management. Quarter Highlights: Record Results and Major Acquisitions The quarter saw Royal Gold achieve record GAAP net income and operating cash flow, with adjusted EBITDA margin reaching 84% (non-GAAP). However, GAAP revenue was slightly short of expectations, underscoring the volatility tied to precious metal prices and partner mine outputs. Higher realized gold and silver prices—$3,280 per ounce for gold and $33.68 per ounce for silver—were a main driver of these results, outweighing volume headwinds at certain mines. Gold, silver, and copper prices make up the core of the business and can swing results considerably from quarter to quarter, as seen in the strong average realized prices boosting revenues. Royal Gold announced the planned acquisitions of Sandstorm Gold and Horizon Copper for approximately $3.5 billion and $196 million, respectively, at the time of signing. After completing the transactions, Royal Gold's pro-forma portfolio will comprise 393 streams and royalties, including 80 revenue-producing interests and 47 in development. Additionally, it secured a new $1 billion gold stream on the Kansanshi mine, a large, long-life project in Zambia, financed mainly by a draw on its revolving credit facility. There were some setbacks in the company's partner mining operations. Mount Milligan, operated by Centerra Gold, lowered its 2025 gold production forecast due to lower grades, while guidance at Xavantina was cut after first-half production fell short. Mara Rosa paused processing after heavy rains, impacting output for the period. Some of these issues highlight risks Royal Gold faces, as its partners' performance directly influences its top line. Still, robust contributions from assets like Peñasquito, Pueblo Viejo (run by Barrick), and Khoemacau balanced these headwinds, illustrating the benefit of a diversified royalties and streams portfolio. Financial Health, Liquidity, and Dividend Update The company closed the quarter with $248.2 million in cash and access to a $1.25 billion liquidity pool—including an undrawn revolving credit facility, later partially drawn for new acquisitions. Free cash flow (non-GAAP) dropped to $40.1 million, due to $112.7 million spent on acquisitions in the period. Its leverage position will materially change following major forthcoming deals, with net debt replacing net cash on the balance sheet. The board increased Royal Gold's quarterly dividend by 12.5%, bringing the payout to $0.45 per share. The revolver maturity was extended to 2030, and the borrowing limit was expanded to provide more flexibility for future investments. Operational Overview: Revenue Mix and Partner Performance Royalties, which pay a percentage of mine revenue, contributed 36.5% of total revenue. Major revenue contributors included the Mount Milligan stream ($63.7 million), Pueblo Viejo stream ($25.6 million), and Khoemacau stream ($10.2 million) (GAAP). Peñasquito and Cortez royalties also made notable revenue contributions. Royal Gold's portfolio is set to become broader and more diverse as the Sandstorm and Horizon acquisitions close, adding dozens of producing assets and development projects. Management highlighted the benefits of greater scale and diversification. Some partner operations experienced challenges: Mount Milligan revised gold production guidance downward, Xavantina faced lower-than-planned output, and Mara Rosa halted processing temporarily due to severe weather. The development pipeline remains active, with projects in Ecuador and Australia advancing, and Back River completing its first gold pour at the Goose Project. These examples underline how Royal Gold relies on successful mining operations by its partners and the diversified nature of its revenue streams. Looking across its business lines, realized gold and silver prices increased sharply from the prior year, which had an outsized effect on results. Sales volumes for the first half of CY2025 included 101,605 ounces of gold, 1.5 million ounces of silver, and 7.5 million pounds of copper. Outlook and Guidance We are currently forecasting that 2025 metal sales, DD&A, and effective tax rate will be within the ranges previously provided. It anticipates that sales at several properties—including Mount Milligan, Rainy River, Xavantina, and Bellevue—will be more heavily weighted toward the second half of the fiscal year. This indicates that financial results may be impacted by production changes at these partner sites through year-end 2025. The company continues to expect the Sandstorm Gold and Horizon Copper transactions to close in the fourth quarter of 2025. As the integration process moves forward, investors should monitor leverage, free cash flow trends, and partner mine operating updates, given new risk exposures. Royal Gold remains highly sensitive to metals pricing, a factor beyond its control, and highlights the need for vigilance regarding potential reversals in commodity markets. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,026%* — a market-crushing outperformance compared to 180% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025