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

40-Unit Rental Building Planned for Kingsway

Conwest Group has submitted an application to rezone a 10,676 SF mid-block site at 3070 Kingsway from C-2 to CD-1 to allow a 6-storey mixed-use building with a 3-storey townhouse development at the lane, consisting of:

  • 40 secured market rental units;
  • 3,080 SF of retail at grade;
  • A total density of 3.27 FSR;
  • A height of approximately 60 ft.; and
  • 24 parking spaces.

The site is located on the South side of Kingsway between Rupert and Kerr Street, just south of the Joyce Collingwood neighbourhood. It is currently improved with a nondescript retail building.

The application is being considered under the Secured Market Rental Housing (Rental 100) Policy.

The architect for the project is GBL Architects.

The site was acquired in October 2015 for $3,750,000 or $106 per buildable SF based on the application.

Master Plan for Landsdowne Mall Site to Include 24 Towers

The owner of Lansdowne Centre, Vanprop Investments, has submitted their formal OCP amendment application to the City of Richmond for the purpose of approving a Master Land Use Plan for the 50 acre site, located in the heart of Richmond’s City Centre at the centre of the Lansdowne Village. It is immediately adjacent to the Lansdowne Canada Line Station, and is bound by No.3 Road, Alderbridge Way, Kwantlen Street and Lansdowne Road. Initial plans to redevelop the mall were announced two years ago.

While the density for the site is already established in the City Centre Area Plan (“CCAP”), the Master Plan is required to organize the eventual phasing, massing and heights of the future mixed-use development, as well as the location of the 10 acre park planned for the site. City of Richmond council endorsement means that the proposal can now move toward a community consultation phase. 

The shopping centre on the site was built in 1977 and exemplifies the auto-oriented enclosed shopping centre design popular in the 60’s and 70’s. The arrival of the Canada Line in 2010 with a station right next door and the subsequent CCAP made this site a prime target for future redevelopment, particularly since the surface parking can accommodate immediate development without requiring demolition of the existing mall.

The site has a mix of zoning designations, including Urban Core T6 (up to 4.0 FAR) on the westerly 1/3 of the site, and Urban Centre T5 (up to 2.0 FAR) on the easterly 2/3 of the site. The CCAP also identified the site for a 10 acre linear park running east/west along the southern portion of the site fronting Lansdowne Road.

Here is a summary of some of the concepts identified in the proposed master plan which has already achieved support for moving through the next steps in the process:

  • An overall density of 2.77 FAR (approx. 6,000,000 SF)
  • 22 residential towers and 2 office towers
  • 73% of the density within 400 metres of Lansdowne Station
  • A 53,500 SF community amenity building at corner of No.3 Road & Lansdowne
  • A new 10 acre park in the centre of the site (revised shape from CCAP)
  • Retail/entertainment space with residential and office space above fronting Hazelbridge Way (high street)
  • A new civic plaza near the Canada Line Station
  • Building heights up to 47 metres
  • New north/south extension of Hazelbridge Way and Cooney Road between Alderbridge Way and Lansdowne Road
  • New east/west road to connect No. 3 Road and Kwantlen Street
  • Target of 2035 for entire build out

Next Steps

The proposed OCP amendment process will require further consultation and refinement to the details in the master plan before final council approval and subsequent rezoning applications for individual phases. Consultation would take place in the spring 2018 with approval likely later next year. Below is the City’s flowchart outlining the process:

Proposed Master Land Use Plan

The architect for the master plan is Dialog.

Fourth Tower at City of Lougheed to Include 237 Rental Units

Shape Properties has filed a rezoning application for their fourth and final tower of Phase 1 of The City of Lougheed, a massive 40-acre, 23-tower master planned site of the current/former Lougheed Mall. Phase 1 is the Southeast corner of the site, fronting North Road and Austin Road, and the first tower has sold out.

Overall City of Lougheed Site & Phase 1 Location

Tower 4 will be the shortest of the first four towers, and is located on the Northeast portion of the Phase 1 lands, which are now moving through site preparation. Details for this part of Phase 1 include:

  • a 30-storey tower
  • 237 rental apartment units
  • 23 studios, 104 one-bedrooms, 110 two-bedrooms
  • 2,777 SF of retail space at grade
  • 114 parking spaces

Interestingly, the developer plans to stratify the units, but keep them as rental with a covenant protecting them as rental for a minimum 5 years.

Phase 1 Detail

Market Update: City of Burnaby Rezoning Applications

Below is an update on the current rezoning applications currently heading to council for first reading.

6004-6018 Wilson Avenue

This 45,666 SF site in Metrotown is comprised of three properties at 6004, 6006 and 6018 Wilson Avenue, owned by Solterra Development. The site is currently comprised of three older residential buildings that are being proposed for rezoning under the Metrotown Downtown Plan for a new 36-storey highrise development with townhouses fronting Wilson Avenue. The proposed density is likely to be 5.0 FAR.

6438-6468 Mackay Avenue & 6443-6467 Silver Avenue

Intracorp is proposing a single highrise residential tower on this assembly of six lots totaling 32,438 SF. The site is designated within the Metrotown Downtown Plan for RM-4S. With a density transfer from adjacent lots at Maywood Avenue, the net proposed density is 7.1 FAR. This will be Intracorp’s eighth residential property in Burnaby.

 

4125 Hastings Street

The plan for this 8-lot, 51,8794 SF assembly of land in the Hastings Heights village area of North Burnaby is for redevelopment including a new 5-storey residential building with 3-storey ground oriented townhouses fronting Albert Street.

 

 

5977 Wilson Avenue

Another rezoning application in Metrotown for a highrise tower, this one is on Wilson Avenue, between Kingsway and Central Boulevard. The site is 54,015 SF and is comprised of two older apartment buildings totaling 63 units. The application is from Blue Sky Properties. The plan is for a 42-storey highrise tower with 3-storey townhouses fronting Wilson Avenue. The designation is RM-5S which permits a maximum density of 5.0 FAR.

6909-6949 Balmoral Street

This is a 4-lot land assembly in the Edmonds Town Centre Area being proposed for twenty-three 3-storey townhouses above one-level of underground parking based on an RM-3 designation. The proposed FAR would be in the range of 1.2-1.5.

 

 

4612-4650 Dawson Street

The plan for this 75,838 SF site in Brentwood is a highrise tower with townhouses fronting Dawson Street, retail uses and below ground parking. The rezoning will be based on RM4s in the Brentwood Town Centre Plan.

 

 

2152 & 2172 Douglas Road

This site, owned by Imani Development, is also located in the Brentwood Town Centre Development Plan and is designated RM5s, which allows a density up to 5.0 FAR. The 65,078 SF site is currently occupied by two older industrial buildings. The plan calls for a 482-foot residential tower with townhouses fronting Douglas Road.

 

8725 University Crescent

Here’s a site in the SFU Neighbourhood that is seeking approval for two new residential towers and 3-storey townhouses by Liberty Homes. This is in Phase 3 of the Univercity project. The proposal includes two terraced residential towers: one 14-storey tower and one 20-storey tower.

 


A full rundown of the reports going to council can be downloaded here: https://eagenda.burnaby.ca/sirepub/pubmtg.aspx?meetid=713&doctype=Agenda%20Packet%20–%20Compiled