The City Council in Vancouver has approved a development by Blue Sky Properties at Main and East Georgia in Chinatown which will “rezone 633 Main Street from HA-1A (Historic Area) District to CD-1 (Comprehensive Development) District. The proposal is for a 16-storey mixed-use building with ground-level commercial uses and 188 residential units. The proposal includes a floor space ratio (FSR) of 8.86, a height of 146 ft. (44.5 m) from Main and 152 ft. (46.3 m) from the lane, 72 parking spaces, and 235 bicycle stalls.”

View the full rezoning application HERE.

A 14-unit apartment building in the South Granville area has sold for $4,000,000, representing a 3.4% cap rate and $286,000 per unit. The building had originally been listed for $5,000,000, but the price was later reduced to $4,400,000. The building, known as St. Charles Apartments, was built in 1927 but was substantially renovated.

The office building known as the Ravensong Community Health Centre located at 2450 Ontario Street has sold to Vedado Properties headed by Chip Wilson of Lululemon. The 38,000 SF office building sold for $15,350,000, or $405 per SF. The building is fully leased to Vancouver Coastal Health, representing a 4.7% cap rate on the deal.