South Street Development Group have applied to the City of Vancouver to rezone 506 West 60th Avenue and 7645-7675 Cambie Street from RT-1 to CD-1 to allow for two 6-storey buildings rental buildings. The project would be considered under the Rental 100 program.  The proposal consists of:

• 138 secured market rental units;
• 3,500 SF of assembly church space;
• a density of 2.88 FSR;
• a maximum height 71.5 ft; and
• 90 parking spaces

Chip Wilson, former CEO of Lululemon, has reportedly acquired 1770 West 7th Avenue, a 5-storey, 75,000 SF office building located at Burrard and West 7th. The building, built in 1985, was sold for $32,625,000, or $430 per SF.

The city’s sale of 801 Columbia St., to the owners of the Shops at New West Station mall next door is expected to be completed this week, said Mike Lowe, B.C. region managing director for First Capital Realty.

New Westminster recently gave notice it was selling the property at the foot of the New Westminster SkyTrain station for $1,950,000 after paying $1,885,000 for it in 2008. The city has been using the property as a construction staging site for the Anvil Centre and Merchant Square office complex across Eighth. It will remain in the city’s possession until June 30, 2014.

“We haven’t got anything drawn up yet, but obviously we’re going to try and maximize density there and try to marry it up against our other project and all the other projects that are in the area. We have not finalized any plans on that,” said Lowe.

He added the company is willing to work with the city on figuring out what to do with the property.

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