M28 Holdings Ltd. has submitted a development application for a 75′ x 112′ site at the Southeast corner of 28th and Main for a new rental apartment building. The C-2 zoned site is currently occupied by single storey retail including Le Gent Antiques on the corner.
The new development will be 4-storeys and will include:
- retail and restaurant uses on the ground floor;
- 21 rental market rental units;
- a total density of 2.5 FSR;
- a building height of 45 feet;
- two levels of underground parking accessed from the lane.
Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.
The site sold in December 2016 for $6,980,000, or $341 per buildable SF based on the application.
Coromandel Properties has submitted a development application for a prominent former Esso gas station site, now vacant, at the Northeast corner of 41st and Cambie.
The site falls within the City of Vancouver’s recently released vision for the Cambie Corridor Oakridge Municipal Centre, which would allow a rezoning for a mixed-use/residential tower potentially as high as 20-storeys for the site.
The development permit application now submitted for the 130′ x 122′ site indicates plan for a new 3-storey, mixed-use building, consisting of:
- Retail & restaurant uses on the ground floor;
- Office uses on the 2nd and 3rd floor;
- A total building size of 26,686 SF;
- A total density of 1.7 FSR;
- Peak Height: 59 ft.; and
- 48 underground parking spaces on 1 1/2 levels all having vehicular access from the lane.
It’s unclear if this potential development plan is simply an effort to secure a permit now under the existing zoning, or if the potential for a tower rezoning is still in the long term plan. Under the site’s existing C-2 zoning which allows 2.5 FSR, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.
Coromandel acquired the site in October 2014 for $15,800,000, or $398 per buildable SF based on the existing C-2 zoning of the site, or $592 per buildable SF based on the proposed plan.
The architect for the project is McFarlane Biggar Architects and Designers .
Two buildings on East Boulevard have sold to Kenstone Properties for $26,000,000. The two lots, located at 6020 & 6040 East Boulevard, are currently improved with two older 2-storey walkup apartment buildings, and combine to form a total site area of 18,850 SF. The lots are zoned C-2 which allows for a development up to 4-storeys, or approximately 47,125 SF of buildable area.
The purchase price equates to $552 per buildable SF.
The property had been listed for sale for $26,800,000.
SKA Property Inc. has submitted a rezoning application under Rental 100 for a 7,712 SF site at the corner of Main and 51st Avenue in the Punjabi Market neighbourhood. The site is currently home to an older 3-storey building that is vacant.
The plan for the site at 6679 Main Street is to rezone from the existing C-2 zoning to allow a 6-storey mixed use building with commercial space at grade, including:
- 28 rental apartment units;
- 2 studios, 13 one bedrooms, 9 two bedrooms and 4 three-bedrooms;
- 3,071 SF of ground floor retail space;
- a total density of 3.62 FSR;
- a building height of 70 ft.; and
- 28 vehicle parking spaces.
The application notes that the developer’s team are East Indian and intend on using the ground floor for their family business: a vegetarian grocery store.
The application is being considered under the Secured Market Rental Housing (R100) Policy.
The architect for the project is F. Adab Architects Inc.
Wesgroup Properties has acquired the Chevron site at Dunbar and West 39th Avenue on Vancouver’s Westside. The 18,009 SF C-2 zoned site sold for $19,400,000, or $430 per buildable SF based upon the density permitted under the existing zoning.
The gas station site was one of a few properties offered for sale by Chevron in 2016. Others included the site on West Georgia downtown, and a now closed commercial station at Clark & 1st.
Rendition Developments has submitted a rezoning application for a long-vacant site at the NW corner of Main and 41st. The proposal for the 11,684 SF site at 5679 Main Street is for a 6-storey mixed-use building including:
- 52 rental apartment units;
- 5 studios, 29 one-bedroom units, 15 two-bedrooms & 3 three-bedroom units
- 4,089 SF of ground floor retail space
- a total density of 3.46 FSR
- a building height of 76 ft.; and
- 33 underground parking spaces and 72 bicycle parking spaces.
This application is being considered under the Secured Market Rental Housing (Rental 100) Program.
The site sold in May 2016 for $6,000,000, or $149 per buildable SF based on the rezoned density anticipated in the application.
EDIT: This post previously mentioned that the site was an old gas station, which is not accurate, it was previously a commercial building torn down many years ago.
Westbank Corp. has filed their rezoning application for the 23,234 SF site at the Northwest corner of Broadway and Alma Street. The site at 3701-3743 West Broadway is currently zoned C-2 and is currently improved with an old strip retail property.
The rezoning proposal is for a 6-storey mixed-use project, which includes:
- 94 secured market rental units;
- 59 studios, 1 one-bedroom, 33 two-bedrooms, 1 three-bedroom
- 7,190 SF of retail space
- A total density of 3.15 FSR;
- A building height of 64 ft.; and
- 99 parking spaces.
This application is being considered under the Affordable Housing Choices Interim Rezoning Policy. The architect for this project is Henriquez Partners.
The site was acquired by Westbank in 2011 for $9,443,000 or $121 per buildable SF based upon the current rezoning application.