City of Port Moody Lands to be Rezoned for Towers in Advance of Sale

The future sale and redevelopment of Port Moody’s former Fire Hall and current Works Yard sites has reached a new milestone. The proposed OCP amendment and rezoning goes to City Council next week after achieving support of the City’s community planning advisory committee.

The future redevelopment of the two City-owned properties has been in the works for some time. The City’s plan is to rezone the lands for high density mixed-use before selling them to developers and moving the works yard to a site on Barnet Highway

The properties are located along Murray Street at the corner of Ioco Road, and have a combined site area of approximately 4.7 acres. The sites are located South of the well-established Suterbrook Village, and just West of Newport Village. Inlet Centre Skytrain Station is located just one block South.

The application proposes a change to the existing OCP land use designation of Public and Institutional and Parks and Open Space to Mixed Use – Inlet Centre. The lots will be legally subdivided potentially paving the way for the sites to be sold separately.

Details for the potential new development(s) under the proposed rezoning includes:

  • building heights up to 34-storeys;
  • potentially 3 to 4 towers and 1 to 3 lowrise buildings;
  • uses including:
    • multifamily
    • seniors housing
    • civic uses (library, plaza)
    • park
    • retail and office
    • child care
  • a maximum buildable area of 940,000 SF;
  • a maximum of 610,000 SF for market residential;
  • potential for 186,000 SF more market residential in exchange for amenities and/or non-market housing;
  • a multi-use pathway.

The City estimates that the RFP for sale would be released to the development community in April and that a potential sale (or sales) would be completed later this year. Work could begin on the Fire Hall site as early as next year, with the Works Yard site starting in 2020/2021.

The site is being rezoned and sold at a time of unprecedented development activity in Port Moody with several large scale developments in the pipeline at various stages of development, including: the Flavelle Mill site, Westport Village (Andres Wines) site, Onni’s latest tower “The Grande” at Suterbrook, a proposal by Berezan Group for three towers, and a pending sale of a multi-tower site in the Coronation Park neighbourhood.

Further detail on the City owned sites can be viewed on the City’s websites: http://www.portmoody.ca/index.aspx?page=1422

Kerrisdale Development Site Sells in $26,000,000 Deal

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.

6020 East BlvdThe purchase price equates to $552 per buildable SF.

The property had been listed for sale for $26,800,000.

Coveted 2.3 Acre Westside Site Sells for $46.2MM

A rare 2.34 acre piece of land located at Oak Street and West 18th Avenue has sold to Wesgroup Properties for $46,200,000. The property, which contains frontage on both West 18th and most of West 19th from Laurel Street to Oak Street,  is currently zoned RT-2 and is improved with 17 low-density rental apartment duplexes built in the 1950’s.

vanmap aerial

The site had been speculated for future redevelopment for some time and was only recently identified by the City as a potential rezoning location under the Cambie Corridor Phase 3 planning review given it’s current 0.75 FSR zoning and its proximity to transit. The scope or timing of a potential rezoning application remains to be seen.

Smart REIT buys Haney Place Mall in $57.6MM Deal

Smart REIT (formerly Calloway REIT) has acquired Haney Place Mall, one of Maple Ridge’s largest enclosed shopping centres, for $57,600,000. The mall is 190,000 SF and is located in the town centre area of Maple Ridge. It was originally built in 1981 and renovated in 1993. Anchors include Thrifty Foods and a soon to be opened Walmart in the now vacant Target space. Rexall is one of the more recent tenants. The seller was Vancouver based Narland Properties.

Haney Place Mall

Further detail regarding the sale can be found in this Maple Ridge News article.

Sobey’s Ordered to Sell Two Metro Vancouver Stores

As reported by CBC, the Competition Bureau has ordered Sobey’s Inc. to sell 23 stores in Western Canada before it will approve its $5.8-billion purchase of grocer Safeway Canada.

The Nova Scotia-based supermarket chain says it has agreed to put the supermarkets on the block and it expects to close the acquisition of the Canadian assets of Safeway in early November.

The two affected Metro Vancouver properties are:

Tsawwassen Safeway

Tsawwassen Safeway

Safeway Tsawwassen, 1143 56th Street, Tsawwassen

This is a 4.5 acre site in the heart of Tsawwassen’s commercial area. The property is zoned C-1. It is assessed at $11,977,000.

 

 

New Westminster Thrifty's

New Westminster Thrifty’s

Thrifty Foods Sapperton, 270 East Columbia Street, New Westminster

The Thrifty’s is located as part of Wesgroup’s Brewery District project and does not have redevelopment potential.

 

Land Sale a ‘Windfall’ for West Vancouver Church: Neighbours

North Shore Outlook – Land sale a ‘windfall’ for West Vancouver church: neighbours.

A church in the British Properties wants to sell its land to a developer. What could be built in place of a church in the British Properties has caused quite a stir.

If the church’s land is sold, duplexes and single-family homes could go in the large lot. That’s 19 homes, consisting of 11 detached dwellings and eight duplexes, to be exact.

The congregation at North Shore Unitarian Church isn’t satisfied with the aging space, said representatives from the church. There’s no bus service so many seniors can’t make service by themselves and the 43-year-old building isn’t wheelchair accessible.

370-380 MathersSo the congregation should move somewhere else on the North Shore that’s more accessible, said a delegation of church members at a West Van council meeting on Monday. If the land at 370 and 380 Mathers Ave. is rezoned, the buyer, Darwin Construction, wants to develop the area.

Read more:http://www.northshoreoutlook.com/news/199187241.html