New Rental Apartment Building Planned for Oak & 70th

Maiway Investments Ltd. has submitted an application to rezone an existing 13-unit lowrise apartment in order to build a new 6-storey apartment building at the Northwest corner of Oak and 70th in the Marpole area of Vancouver.

The plan for 8599 Oak Street is to rezone from the existing RM-3A zone to allow a 6-storey residential building including:

• 36 secured market rental units;
• 23 one-bedrooms, 7 two-bedrooms & 6 three-bedrooms;
• a building height of 67 ft.;
• a density of 2.50 FSR; and
• two levels of underground parking with 28 vehicle spaces and 46 bicycle spaces.

The application is being considered under the Marpole Community Plan.

The architect for the project is NORR Architects Planners.

The building had been listed for sale in 2015 and sold in November 2015 for $3,800,000, or $120 per buildable SF based on the application.