Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Development

Two More Lowrise Projects Proposed for Hastings Heights Area

Two rezoning applications went before Burnaby City Council last night for 4-storey projects in the Hastings Heights area of Burnaby:

4295 Hastings Street

4295 Hastings St.

Developer: Citimark-Omicron

Site: Currently vacant and previously a gas-station. 14,994 SF. Zoned C-8 (Urban Village Commercial District) 3.0 FAR density.

Proposed Development: 4-storey mixed-use development with retail at grade and three and a half storeys of residential above. The development proposes to take advantage of the potential C-8 framework allowing an additional storey at the rear lane.

418 Gamma Avenue

418 Gamma Avenue

Developer: Epta Properties

Site: Currently vacant. 23,141 SF. Zoned CD from 2010 – the previous rezoning included office space which has proven difficult in the current market.

Proposed Development: 4-storey mixed-use development with retail at grade and 3 storeys of residential above. The rezoning anticipates a redesign based on RM-3 and C-2 to scrap the office component.

March 25, 2014by david.taylor@colliers.com

Search the Site

Categories