245-Unit Project Proposed for Downtown New Westminster

Domus Homes has submitted a rezoning application to the City of New Westminster for a 26,104 SF site at 813-823 Carnarvon in Downtown New Westminster, directly across the street from the 3-tower “Plaza 88” development. The plan is for a mixed-use project that includes a market condo tower, a non-market rental lowrise, and commercial uses. Details include:

  • a 29-storey tower
  • a 6-storey lowrise
  • 195 market condos
  • 119 one-bedrooms, 54 two-bedroms and 22 three-bedrooms
  • 50 non-market rental units for Performing Arts Lodges (PAL)
  • a total density of 7.75 FSR
  • total building height of 290 feet

813 Carnarvon813 Carnarvon_1 813 Carnarvon_2The architect for the project is GBL Architects.

Mixed-Use Building Planned for Sapperton Area of New Westminster

I4 Property Group has applied to the City of New Westminster for a rezoning and to facilitate the development of a 15,254 SF site at 408-412 East Columbia Street, near Royal Columbian Hospital.

The Rezoning application entails changing the zoning of the property from Community
Commercial Districts (Medium Rise) (C-2A) to a new Comprehensive Development District to allow the development of a 6-storey, mixed use development that includes:
 
  • 60 secured market rental units
  • 7,000 SF of retail space at grade
  • 12,100 SF of office space on the second storey.
  • A total gross building area of 69,430 SF
  • a density of 4.53 FSR
  • 84 underground parking spaces

408 E Columbia408 E Columbia_1 408 E Columbia_2The previous OCP designation for the site is CM Commercial Main Street, which allows commercial uses at street level and office or residentail uses above. Densities in this zone are medium to high. Under the new OCP, the site is “Mixed-Use Low Rise”, allowing buildings up to 6-storeys in height.

I4PG attempted to assembled the neighbouring lot at 406 East Columbia Street, but were not successful.

The architect for the project is SUVA Architecture.

FOR SALE: High-Density Transit-Oriented Development Site

We are pleased to introduce a 35,000 SF land assembly adjacent 22nd Street Skytrain Station in New Westminster. This assembly represents a rare opportunity to acquire a high-density residential site immediately adjacent a transit station.

BRO_22nd Street StationPlease download our brochure here: BRO_22nd Street Station Final E. Contact us for further details.

41-Unit Condo Building Planned for Uptown Area of New Westminster

Alpha Beta Developments has applied to the City of New Westminster to allow development of a new 6-storey condo development on an existing 13,510 SF, three lot land assembly in the Uptown area.

The application entails an OCP Amendment and Heritage Revitalization Agreement (HRA)  for the properties located at 612 to 618 Brantford Street. The OCP amendment would change the land use designation of the property from (CH) Commercial Historic Area to (RM) Residential Medium Density. The HRA application allows retention of the existing 1890 heritage home on the site.

Details of the project include:

  • a total of 41 units
  • 17 one-bedroom units, 18 two-bedroom units & 7 three-bedroom units
  • total density of 2.90 FSR
  • 57 underground parking spaces

612-brantford612-brantford_1612-brantford_2The architect for the project is Boldwing Continuum Architects Inc.

Market Spotlight: Newer Condo Resales

Here is a brief snapshot of the condo resales market since the start of 2016, shown as average price per SF broken down by sub-area/neighbourhood.

Condo Resales $ per SF_May 2016

Source: MLS Data

The above chart reflects data on all MLS sales for condo units that were one year old or newer at the time of sale, and only includes neighbourhoods with sales in multiple buildings. Pricing is slightly distorted by product type; for example, all of the downtown condo product is concrete highrise which is more expensive, whereas all of Maple Ridge product is in lowrise or townhouse form that is much cheaper to build and sell. Nevertheless, some may find the average pricing stats interesting.

The market for pre-sales inventory is likely to track above the average resales in a given sub-market.