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Development, Investment

Judge Backs Forced Sale of North Vancouver Complex

A recent B.C. Supreme Court decision has paved the way for owners of an apartment and townhouse complex in North Vancouver to sell to a developer – despite the wishes of some owners to stay put.

B.C. Supreme Court Justice Lauri Ann Fenlon recently sided with the majority of owners of Seymour Estates on Lytton Street, who asked the court to approve the sale of the entire property.

That decision satisfied the vast majority of owners, who argued in court they’ll get more money by selling as a group than they could individually and avoid potentially costly repair bills as the 40-year-old complex ages.

For a small group of owners, however, the decision could force them to move off the North Shore, where they have community ties, if they can’t find similar affordable housing – or out of the housing market entirely.

Read more: http://www.nsnews.com/news/judge-backs-forced-sale-of-north-vancouver-complex-1.810849

February 3, 2014by david.taylor@colliers.com
Development

Another Cambie Street Proposal; This Time on a Small Site

An application has been submitted under the Cambie Corridor Plan to rezone 7790 Cambie Street from RT-1 to CD-1 to allow a 6-storey rental building that includes:

  • 27 market housing units;
  • a building height of 70.5 ft. from grade;
  • a density of 2.70 FSR
  • 23 underground parking space

What’s unique about this proposal is that the site is only 118 ft x 72 ft. (8,501 SF).

7790 Cambie7790 Cambie_2

February 3, 2014by david.taylor@colliers.com

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