Redevelopment Plan Emerges for Jewish Community Centre Site

A full rezoning application has been submitted for the 3.3 acre Jewish Community Centre and Louis Brier Homes property at 950 West 41st Avenue, just East of Oak Street.

The plan calls to amend the existing CD-1 zoning to allow a phased redevelopment of the property that became possible under the Oakridge Transit Centre Policy Statement adopted by the City in 2016 in order to facilitate the eventual redevelopment of the Oakridge Transit Centre site across the street. The Jewish Community Centre site is located directly across the street to the South and was also redesignated given it’s adjacency.

Details of the rezoning proposal include:

  • A 9-storey replacement Jewish Community Centre, including:
    • recreation space, including pools and gyms;
    • ground level commercial space;
    • an Early Childhood Education Centre, including 104 private daycare spaces;
    • cultural arts, auditorium, and theatre space;
    • non-profit office space; and
    • a height of 121 ft..
  • A 13-storey replacement Louis Brier Home and Hospital Seniors Care Facility, with:
    • senior assisted living, complex care and memory care beds; and
    • a height of 158 ft..
  • A 24-storey rental apartment tower with:
    • 160 secured market rental units;
    • 64 studios, 40 one-bedrooms, 40 two-bedrooms and 16 three-bedrooms;
    • a height of 250 ft.

Underground parking, with 693 vehicle parking spaces and 250 bicycle parking spaces, is proposed. The application proposes a total density of 4.47 FSR.

The architect for the project is Acton Ostry Architects.

The full rezoning application can be viewed here: http://rezoning.vancouver.ca/applications/950w41stave/index.htm 

97-room Hotel Planned for Richmond

0951705 BC Ltd. has applied to the City of Richmond for permission to rezone 8871, 8891, 8911, 8931, 8951, 8971 and 8960 Douglas Street from the “Light Industrial (IL )” zone and the “Auto-Oriented Commercial (CA)” zone to a new site-specific zone in order to permit a new 6-storey hotel development, entitled “Hyatt Place” in the City Centre’s Bridgeport Village.

The site includes a non-contiguous portion on the south side of Douglas Street. The 6-storey hotel building will be on the north side of Douglas Street and a single-storey
commercial building will be on the south side. The hotel site is 25,920 SF and is currently vacant.

Key components of the proposal include:

  • 97 hotel rooms;
  • 1,733 of commercial space;
  • a building height of 74 ft.;
  • A total density of 2.0 FAR;
  • 57 total parking stalls across both sites;
  • LEED Silver equivalent building design and hotel building designed and constructed to connect to a future district energy utility (DEU) system.

The architect for the project is GBL Architects.

 

4-Storey Commercial/Industrial Building Planned for Mount Pleasant Site

A development application has been filed by Man 6 Holdings Inc., a project company made up of the partners of EKISTICS Architecture. The site is 6,039 SF, zoned I-1 and is located at the corner of West 6th Avenue and Manitoba. The proposed development concept is a new four-storey, mixed industrial and commercial building consisting of ground level Manufacturing use and Office uses on the 2nd to 4th floor. Details include:

  • 12,078 SF of office space
  • 6,040 SF of light industrial space
  • a total density of 3.0 FSR;
  • 64 ft. building height;
  • two levels of underground parking with 19 spaces.

Ekistics describes the design rationale: “EKISTICS is currently located at 1925 Main Street. We are excited to be designing and building our own studio space within this neighbourhood. We have been actively searching for a new company home for the past four years. We managed to stretch our resources to purchase this land in order to keep our office close to where people live and in a desirable and exciting neighbourhood. We feel passionate about our city, and being part of making it a great place to live and work. Our goal is to redevelop the site to include one floor of light industrial use, and three floors of office use. EKISTICS will occupy 2 of the 3 office floor for its studio. Our intention is to lease the main and second floors to local businesses which will compliment our design work.”

 

 

 

 

 

 

 

 

 

 

Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is Ekistics Architecture Inc.

The site was acquired in Mach 2017 for $5,000,000.

21-storey Tower Proposed for Denman & Alberni Corner

Landa Global has submitted their development application to the City of Vancouver for permission to develop a 17,292 SF site at the Southwest corner of Denman and Alberni Street with a new 21-storey mixed-use building. 

The proposal for 1810 Alberni Street includes the following:

  • 60 residential units
  • 36 “high end” market residential units & 24 affordable market rental housing units;
  • 3,906 SF of ground level retail;
  • Building height of approximately 210 ft.;
  • A total density of 7.54 FSR;
  • 3 levels of underground parking with 109 parking spaces all accessed from the lane.

The architect for the project, Rafii Architects explains the design rationale: “The tower has been designed as an array of “boxes” oriented in different directions which interplay with each other and departs from the more common vertical box of concrete and glass. The project concept is based on a two-lobe floor plan which houses two condominiums per floor, joint only by the elevator core. The series of boxes affords views of the North Shore , Stanley Park and the Lions’ Gate Bridge, and the Downtown core. The careful placement of these “boxes” allows for planting which has been used at different levels adding a “green” feeling to the building.”

Under the site’s existing C5-A zoning, which was altered to allow such development under the West End Community Plan, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board. The affordable market rental is a requirement of the zoning.

Landa acquired the site through Colliers in 2016 for $55,000,000, or $422 per buildable SF based on the total density in the application.

The full development application can be viewed here: http://development.vancouver.ca/1810alberni/index.htm

Dunbar Corner Site Sold in $15.8 Milllion Deal

The building at the Northwest corner of Dunbar Street and West 29th Avenue has sold for $15,848,000. The 129′ x 100′ site contains seven retail businesses including Starbucks and The Dunbar Public House.

 

4455 Dunbar Street is zoned C-2, which permits a potential density of 2.50 FSR, or 32,250 SF buildable under current zoning. The price equates to $491 per buildable SF. The buyer is a local private investor and there is currently no word on any future redevelopment plans.

At the Southeast corner of this intersection is a project currently under construction entitled Dunbar Terrace, which will contain 60 rental units.

12 Rental Units Planned for Arbutus & 35th

A rezoning application has been submitted for an 11,874 SF single-family lot at the corner of Arbutus Street and West 35th Avenue. The project’s preliminary title is 2019 Passivhaus, indicating that the project will be passive housing.

The application for 2109 West 35th Avenue is to rezone from RS-5 to allow a new 3-storey rental residential building that includes:

  • 12 secured market rental units;
  • 6 one-bedroom units and 6 three-bedroom units;
  • a total density of 0.81 FSR;
  • a building height of 35.5 ft.; and
  • 13 vehicle parking spaces and 16 bicycle parking spaces.

 

The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The architect for the project is b Squared Architecture Inc.

The lot sold in March 2016 for $2,500,000 or $217 per buildable SF based on the application.

Top 10 Land Deals of 2017

2017 was another very impressive year for the Metro Vancouver land market. Total land sales transactions topped $4.4 Billion in 2017, down slightly from 2016 which was a record year, but considerably higher than any previous year. 

The vast majority of land sales in Metro Vancouver are smaller sites that typically transact below $20 Million, but there were some impressive larger sales that registered this year.

Here’s a look at of the 10 largest Metro Vancouver land deals of 2017:

#1 – 1608-1616 West Georgia Street, Vancouver

Price:                   $245 Million

Site Area:            40,000 SF

Vendor:                Shato Holdings

Purchaser:          Carnival International Holdings

The goods:        Long the subject of off-market sale rumours, the West Georgia Whitespot site finally sold in December 2017 to a Hong Kong based developer. Little had changed on the site for decades as Coal Harbour condo towers shot up all around it. The adoption of the West End Community Plan in 2014 redesignated the site to allow for rezoning for two towers up to 385 ft. in height. Detailed development plans have not yet been released, though a preliminary design concept previously done by Shato included two towers of 33 and 39-storeys in height.


#2 – 4500-4584 Dawson & 2350-2430 Willingdon Avenue, Burnaby

Price:                   $152 Million

Site Area:            8.3 acres

Vendor:                Private

Purchaser:          Aoyuan International

The goods:        This Brentwood Town Centre development site was sold off-market to emerging Hong Kong based developer Aoyuan Group. The Property is currently an industrial property but can be rezoned for multiple high-density residential towers per the Brentwood Town Centre Area Plan. Preliminary plans prepared by IBI Group indicate potential for 1,400 units in four towers with retail and office. A master plan rezoning application was submitted to the City of Burnaby in September 2017.


#3 – 2125 Eddington Drive, Vancouver

Price:                  $115 Million

Site Area:            3.93 acres

Vendor:               Baybridge Senior Living/Amica

Purchaser:          Kunyuan International

The goods:          Arbutus Manor was listed by Cushman Wakefield in 2016 and sold to Kunyuan Group. The Westside Vancouver seniors facility is located just across from Arbutus Village Shopping Centre. The site is irregular in shape and has a frontage of close to 400 feet along Eddington Drive. Future redevelopment plans are not known at this time but the current development of the adjacent mall site by Larco could be an indicator.


#4 – 5115-5451 No. 3 Road & 7960-7988 Alderbridge Way, Richmond

Price:                  $113 Million

Site Area:            4.9 acres

Vendor:               UEM Sunrise

Purchaser:          South Street

The goods:         This site is a large retail strip plaza at No. 3 Road and Aldberbridge Way, just across from Lansdowne Shopping Centre and Canada Line Station. The site was acquired by UEM Sunrise in 2014 for $69,000,000 and re-sold in 2017 for $113,000,000. The site is located within the City of Richmond’s City Centre Area Plan and can be redeveloped for multiple residential and commercial towers. No application has yet been submitted.


#5 – 1555 Robson Street, Vancouver

Price:                  $79.5 Million

Site Area:            17,263 SF

Vendor:               Private Investor

Purchaser:          VivaGrand Developments

The goods:          This prime corner site located in the West End of Downtown Vancouver was rezoned as part of the West End Community Plan, adopted in early 2014. The site is currently improved with a lowrise commercial building but can be redeveloped into a 30-storey tower. As mentioned recently in a Globe and Mail article, the owner elected to sell after being approached with an offer. The site is directly across the lane from Westbank’s 1550 Alberni project, now under construction.


#6 – 1698 West Georgia Street, Vancouver

Price:                  $72,000,000

Site Area:           16,375 SF

Vendor:               Chevron 

Purchaser:          Anthem Properties

The goods:        What a year for the 1600 Block of West Georgia Street! This sale got more attention than most up until the White Spot announcement this week, partially as a result of closing one of the last remaining gas stations in the Downtown Peninsula. Anthem Properties acquired the site which can rezoned to allow a tower under the West End Community Plan. A rezoning application has not yet been submitted to the City for the now vacant site, but expect one soon.


#7 -6444 Willingdon Avenue and 4241 Maywood Street, Burnaby

Price:                  $56,550,000

Site Area:           1.5 acres

Vendor:               Private Investor

Purchaser:          Anthem Properties

The goods:         Anthem had a busy 2017, picking up this 1.5 acre site in the booming subarea of Metrotown. This site has potential for rezoning to high density residential under Burnaby’s Metrotown Plan. As with most sites in Metrotown, this one involves the replacement of older lowrise apartment buildings.


#8 – 1925 176th Avenue and 17064-17214 20th Avenue, Surrey

Price:                 $56,455,750

Site Area:          29 acres

Vendor:              Private Investor

Purchaser:         Cressey

The goods:        This site is a collection of lots in the Grandview Heights area of Surrey with potential for low to medium density residential development.


#9 – 6450 Telford Avenue, Burnaby

Price:                 $51,240,000

Site Area:           52,651 SF

Vendor:              Private Investors

Purchaser:         Westland Development

The goods:        Metrotown was one of the most active subareas in 2017 given the potential for high densities, tall towers, and residential condo values now in excess of $1,000 per SF. This site was acquired by Westland Development and is located at the corner of Telford Avenue and Beresford Street. This stretch of Beresford is fast becoming a row of towers next to the Skytrain Line.


#10 – 1318 Thurlow Street and 1060-1080 Burnaby Street, Vancouver

Price:                 $49,657,000

Site Area:          17,292 SF

Vendor:              Private Investor/Strata Owners

Purchaser:         Strand/Intracorp

The goods:        This assembly of two apartment buidlings and one condo building was sold by our team in July 2017. The assembled site comprises a 17,292 SF site. Strand & Intracorp have filed a rezoning application for the site that includes a 30-storey tower.


Some notes from the above list:

  • Only 5 of the 10 largest land deals in Metro Vancouver took place in the City of Vancouver (down from 9 last year)
  • 7 of 10 were sold by market bid process (the other 3 were ‘off-market’)
  • 6 of 10 were bought by well-established ‘local’ development groups, the other 4 buyers were offshore or ‘new-entrant’ development companies
  • 8 of 10 will require a rezoning process before development can occur