West Broadway Office Building Sells in $39MM Deal

1985 West Broadway has sold to The Property Management Group for $39,000,000. The 5-storey ‘A’ Class building, known to most as the Wawanesa Building at Broadway and Maple, was built in 1985 and totals 50,981 SF. The sale price equates to $765 per SF, or a 3.30% cap rate. Wawanesa was the seller in the transaction.

The property had been listed for sale by Avison Young. Below is a marketing video depicting the property:

 

The C-3A zoned property is located on a 17,280 SF site just a block East of what is anticipated to be a future transit station at Arbutus.

65-Unit Condo Building Planned for Main & 6th

Port Living has submitted a rezoning application for a site at 2202 Main Street, on the Southeast corner of 6th and Main in Mount Pleasant. 

The 17,445 SF site, currently occupied by Blue Star Motors and a 2-storey commercial building, is currently zoned IC-2 but has rezoning potential as part of the Mount Pleasant Community Plan.

The proposal, entitled “Main Street Arts”, is to permit the development of a 6-storey mixed use building that includes:

    • 65 condo units;
    • 19 studios, 19 one-bedrooms, 17 two-bedrooms and 10 three-bedrooms;
    • 9,614 SF of at-grade retail plus 6,617 SF of below ground retail;
    • A total density of 3.86 FSR;
    • A building height of 74.5 ft;
    • 99 parking spaces (including 1 car share space); and
    • 2 Class B loading spaces.

The architect for the project is Studio B Architects

FOR SALE: East Vancouver Development Opportunity

I am pleased to introduce this remarkable corner site on Commercial Drive in the burgeoning Grandview Woodland area of East Vancouver. The site represents a rare opporunity to develop a 6-storey market residential building just 3 minutes from one of Vancouver’s busiest transit hubs – Commercial/Broadway Skytrain Station.

Brochure – 1650 East 12th Ave – E Copy

179-Unit Project Planned for Central Lonsdale Site

Adera Development has submitted a rezoning application to the City of North Vancouver for a former TELUS property at 8th and Lonsdale (south of East 11th). The site is triangular in shape and totals 62,543 SF. The proposal would include the retention of portions of the existing TELUS utility building which occupies the easternmost extent of the site; the site would be subdivided and 30 parking spaces would be provided for TELUS‘ use within the new residential development to the West.

The proposal, entitled Lonsdale Cityhomes, includes two new 6-storey residential buildings and a mix of townhouses. Details include:

  • 179 units;
  • Sizes varying from 600 to 1,900 SF;
  • a total density of 2.60 FAR;
  • a total CAC of $8,756,020;
  • 235 parking spaces

The lot is zoned Residential Medium Density 1 (RM-1) with an Official Community Plan designation of Residential Level 5. The OCP allows for a density of 1.6 FSR and a potential for an additional bonus of up 1.0 FSR in accordance with the Density Bonus and Community Benefits Policy. 

The architect for the project is Integra Architecture.

25-Unit Townhouse Project Proposed for Edgemont Village

Boffo Properties has submitted a rezoning application for a four-lot land assembly in Edgemont Village, which they intend on developing as a follow-up to their currently under construction project nearby “Edgemont Walk”. 

The site is located at 1031, 1037, 1041 and 1045 Ridgewood Dr., just East of Grosvenor’s Connaught project, also under construction. The lots were redesignated in 2015 in the Edgemont Village Centre Plan, and allow townhouses up to 1.20 FSR.

Details of the proposal include:

  • 25 townhouse units in five 3-storey buildings;
  • 3-bedroom units ranging from 1,725 to 2,402 SF;
  • A total density of 1.20 FSR
  • 52 parking stalls
  • A CAC payment of $180,000.

The architect for the project is TKA+D Projects.

244-Unit Condo and Student Housing Project Planned Adjacent Capilano University

Woodbridge Homes and Capilano University have partnered for a new condo and student housing development adjacent the University at 1923 Purcell Way in North Vancouver.

The application is for an OCP amendment and rezoning to allow a new development on the site which is currently improved with an older 90-unit strata that recently went through the wind-up and sale process. The site is identified in the Official Community Plan as Residential Level 5, which permits up to 1.75 FSR.

The development plan includes:

  • 124 condo units in a 6-storey building;
  • 60 townhouse units in 3 & 4 storey buildings;
  • 19 studios, 58 one-bedrooms, 39 two-bedrooms, 68 three-bedrooms
  • 60 student housing units (avg. 200 SF) in a new 6-storey building on the adjacent university lands facing Greg Lee Way;
  • an overall density of 1.75 FSR;
  • 276 parking spaces;
  • a CAC payment of $1,700,000

The architect for the project is Rositch Hemphill Architects.

District of North Vancouver Set to Adopt Final Maplewood Village Centre Plan

The District of North Vancouver is set to adopt the final version of the Maplewood Village Centre and Innovation District Implementation Plan & Design Guidelines at council. 

Maplewood had been identified for future density in the DNV’s OCP back when it was adopted in 2011, but planning efforts for Maplewood didn’t formally get underway in 2015.

Overall the Maplewood Plan maintains a low and mid-rise built form, character, and scale. Highest density development within the Maplewood area is to be located within the compact village core. Possible locations for taller buildings ( up to 12 storeys) are included in the land use plan along with policy statements to include provisions to negotiate density and height on a case-by-case basis in order to achieve the District’s housing and community amenity objectives.

The Plan also includes an area being called the “Innovation District”, which comprises several acres of land controlled by Darwin Properties including former Port Metro Vancouver Lands, and a recently acquired boarding school property.

Here are some targets contained with the Maplewood plan:

  • 1,500 net new housing units by 2030
  • 4,500 net new jobs by 2030
  • 100,000 SF of commercial space
  • 300 net new non-market housing units
  • two new parks
  • various transportation improvements including extension of Berkeley Road and B-Line extension from Phibbs Exchange to Maplewood
  • Various community amenities including new community centre.

The Plan features three precincts:

1. Maplewood Village Centre is the central commercial hub and includes a diversity
of multi-family housing, mixed-use commercial/residential, live/work and smallscale
artisan industrial housing, as well as institutional uses including a school and
local community services.

2. Maplewood North Innovation District is a new district offering an innovative mix
of employment, educational, recreational and limited residential and community uses in a campus-style structure. This area will be connected to the Village Centre
by major arterial routes and an active transportation network. Parks, open space
and natural areas are integrated throughout to create a connected network.

3. Dollarton Highway South is a strong industrial and employment area with
opportunities to intensify as existing and local business expand and provides
opportunities for the expansion of business park uses.

Land uses within the plan includes the following:

  • Residential densities at 1.20 – 2.50 FSR
  • Mixed-Use densities at 1.75 – 2.50 FSR
  • Commercial densities up to 1.0 FSR
  • Industrial densities up to 1.10 FSR
  • Mixed Industrial densities up to 2.50 FSR

A full version of the Maplewood Plan can be viewed here: http://app.dnv.org/OpenDocument/Default.aspx?docNum=3376593