“The owner of Vancouver’s Oakridge Mall is proposing a major expansion of the 56-year-old shopping centre that would transform the 11.5-hectare site into more of a community.

Ivanhoe Cambridge Inc. wants to build a broad range housing ranging from luxury to affordable, as well as more office and retail space, parks, bikeways, walking paths and a library, Senior Development Director Gordon Wylie said Monday.

Wylie said most of the development would occur on what are currently the mall’s massive parking lots.

“We’ll be building new parking underground and then on the surface area will become retail and residential areas.”

The city approved a similar plan in 2007, but since then, policies have opened up and Oakridge wants to take advantage with a new concept that goes beyond a modest expansion.”

Courtesy of the CBC: http://www.cbc.ca/news/canada/british-columbia/story/2012/07/23/bc-oakridge-mall-expansion.html

1635-1637 West Broadway has sold to a local private investor for $5,150,000, or $445 per sq ft.

The building, formerly occupied by Liberty furniture, is a single storey retail building that had undergone renovations in recent years and was available for lease. The building totals 11,583 square feet.