Qualex-Landmark is proposing to rezone 458-476 West 41st Avenue from RS-1  District to CD-1 for a rental residential development including one 6-storey building and 2-storey townhouses at the rear of the site. The proposal consists of:

• 50 secured market rental units
• a proposed density of 2.55 FSR 37,152 SF

This rezoning application is being considered under the Cambie Corridor Plan and the Secured Market Rental Housing Policy (Rental 100).

Qualex had purchased the site in 2010 for $2,500,000, or $67 per BSF based upon proposed density.

Here’s a snapshot of currently selling downtown condo projects in terms of inventory. Also included are projects likely to be released in the next 12 months. Overall, available inventory seems to be in healthy and balanced territory, though some larger upcoming projects scheduled to be offered in the next two years may have an impact on the market with well over 2,000 units.