Cressey Planning Next Kerrisdale Project

Cressey Development and IBI Group Architects have applied to develop a full block site at West Boulevard and West 47th Avenue in Kerrisdale, just across the street from their nearly sold-out 37-unit Sterling project, which is undergoing excavation to the South on West 48th.

The plan for this 31,238 SF site is to develop a 4-storey mixed use building that includes the following:

• Total floor area of 77,825 SF
• 16,271 SF for commercial on the first floor and 61,554 SF for residential;
• Building height of approximately 45 ft;
• 4 townhouse Units and 36 apartment condo units;
• 125 underground parking spaces accessed from the rear lane.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning. The full application details can be viewed here: http://development.vancouver.ca/6333wblvd/index.htm.

Cressey acquired the site in April 2015 for $26,300,000, or $338 per buildable SF.