A development application has been filed by a partnership including Dayhu Group for a 30,816 SF C-2 zoned site at Dunbar and 27th on the Westside of Vancouver. The site is part of a land assembly put together over several years, concluding with the acquisition of a large portion of the block (4253-4275 Dunbar Street) in January 2014 for $8,010,000.

The plan calls for a 4-storey mixed-use building at the Northwest corner of Dunbar and 27th that will include a relocated Stong’s Grocery store. Details include:

• 46 residential units
• 20,800 SF of ground floor retail space (including relocated Stong’s Grocery)
• A density of 2.48 FSR
• 165 parking stalls in two underground parking levels

Existing Streetscape

By Paul Brent

It is likely not news to any commercial real estate industry veteran, but Montreal, Toronto and Vancouver are expensive places to do business when it comes to taxes.

A recent study from the Real Property Association of Canada (REALpac) confirms that fact, finding those three cities continue to sport the highest commercial to residential tax ratios in the country. The trio all have commercial to residential tax ratios higher than 4:1, while the average tax ratio for all Canadian municipalities was 2.79.

However, there is some good news in the report. Toronto’s commercial to residential tax ratio continues its slow but steady decline over the 11 years REALpac has been keeping track. The ratio declined to 4.01 from 4.07 a year ago. That’s part of the city’s deliberate effort to cut commercial taxes and reverse the exodus of business to the suburbs. Its goal by the end of the decade is to trim its commercial to residential tax ratio to 2.5.

In contrast, the study found Montreal’s ratio increased for the 10th consecutive year, even though there were decreases in both commercial and residential rates over the past two years. In fact, Montreal’s …read more

Source:: RENX