4-storey Building Planned Near 4th and Alma
A development application has been submitted for a 9,600 SF site near the Southeast corner of West 4th Avenue and Alma Street. The plan calls for a 4-storey building with 22 residential units above retail. The site is currently occupied by two lowrise houses and a 3-storey mixed use building. The zoning is C-2 which generally allows for 4-storeys in height and 2.5 FSR.
The adjacent condo building on the corner is called The Locarno, and was developed in 2009 by Jericho West Developments.
The site was listed for sale earlier this year for $9,000,000, which is equivalent to $375 per buildable SF.
Existing Alma St. Frontage