Development

Market Spotlight: White Rock Developments

The City of White Rock is going through a period of considerable new residential development after a prolonged period of inactivity following the downturn of 2008-2009. At that time, two of White Rock’s tallest towers were being completed – Bosa’s Miramar Village, after which the market for concrete condos in White Rock languished for 3 or 4 years.

More recently, the success of projects such as Cressey’s Beverley project signals strength for new concrete product in White Rock. Beverley is a 13-storey, 89 unit project sold out earlier this year and is now under construction on the Western Edge of White Rock’s town centre area. Newer concrete product is now selling in the $650 – $750 per SF range.

Here is an overview of some more recent projects seeking planning and zoning approval:

1484 Martin Street

This 2.5 acre site was sold by our team in 2015 to Landmark Premiere Properties for $22,000,000. Landmark filed a development application in early 2016 for a new multi-tower project that is now at the Advisory Design Panel.

Details of the project include:

  • three residential towers with retail and office space
  • tower heights of 25, 25 & 24-storeys
  • a total buildable area of 614,043 SF
  • 334 residential units
  • a total density of 5.74 FSR

1484-martin_41484-martin_31484-martin_21484-martin_1The architect for the project is IBI Group.

1454 Oxford Street

This 2.7 acre site in the Everall neighbourhood was originally envisioned for development back in 2014.The project is by Elegant Development Inc. Elegant acquired the site in January 2016 for $14,050,000.

Development details include:

  • two residential towers (241 and 21 storeys)
  • 121 residential units
  • total density of 3.00 FAR
  • building heights of 269 feet and 233 feet
  • $3,600,000 community amenity contribution
  • a 1+ acre portion of the site dedicated as parkland
  • 414 underground parking spaces

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14809-14815 Thrift Avenue & 1434 Oxford Street

This is a 0.5 acre site located at the corner of Thirft Avenue and Everall Street, just next to the project listed above. It is currently an assembly of three single family lots. The plan for the site includes:

  • a 13-storey residential tower
  • 17 units
  • large two and three bedroom units rangin from 2,178 SF to 3,734 SF
  • total density of 2.83 FAR
  • 44 underground parking spaces

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14825-14835 Thrift Avenue

This site is a two lot assembly adjacent to the site above and is located on the North side of Thrift Avenue between Oxford and Everall Streets. The site is also 0.5 acres in size. The developer is Forge Properties. Plans include:

  • a 12-storey residential building
  • 33 condo units
  • total density of 3.46 FAR
  • 87 underground parking spaces
  • a community amenity contribution of $350,000

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14022-14034 North Bluff Road & 1590 Nichol Road

This is a 0.66 acre site owned by Texor Homes at the southeast corner of North Bluff Road and Nichol Road.

This site has seen several development applications since 2012 including proposal for a 3-storey mixed use building, followed by proposal for a 15-storey building, an 8-storey building and even townhouse use.

The most recent plans include:

  • a 5-storey building with a small commercial component
  • 51 residential units
  • total density of 2.18 FAR
  • 107 underground parking spaces

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1350 Johnston Road

This proposal comes from Solterra Development for a 35,563 SF site on Johnston Road in the Town Centre area of White Rock.This proposal requires an OCP amendment, rezoning and a development permit.

Plans include:

  • a 20-storey tower with a 3-storey commercial podium
  • 138 residential units
  • 9,528 SF of commercial space
  • 300 parking stalls

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1516-1556 Finlay Street & 15601-15621 Russel Avenue

This proposal is for a site owned by Oviedo Developments that is an assembly of lots at the corner of Finlay Street and Russell Avenue, also in the town centre area. The proposal will require an OCP amendment and includes:

  • a 13-storey tower
  • 126 residential units
  • 9,262 SF of retail space and 36,546 SF of office space
  • a total density of 3.77 FAR
  • 337 underground parking spaces

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1310 Johnston Road

This is an interesting proposal for a 16,345 SF site at the Northeast corner of Johnston Road and Roper Avenue in the Town Centre area. The proposal requires an OCP amendment and rezoning. The proposal includes:

  • a 15-storey tower
  • 36 residential units
  • 5,998 SF of commercial space
  • a total density of 5.50 FAR
  • 90 underground parking stalls

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15241 Thrift Avenue

Marcon is behind this proposal for a site at the corner of George Street and Thrift Avenue next to the Saltaire development. The site area is 0.61 acres. Details of the proposed project include:

  • a 14-storey tower
  • 88 residential units
  • a total density of 5.40 FAR
  • 160 underground parking spaces

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1554-1564 Johnston Road & 1563-1565 George Street

PARC Retirement Living has filed a development application for this 0.9 acre site in the Town Centre Area. The plan is for an independent living project that includes the following details:

  • a 23-storey tower
  • 204 units
  • a total density of 5.39 FSR
  • 100 parking spaces

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November 30, 2016by david.taylor@colliers.com