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Apartment, Development

77-Unit Rental Building Planned for East Van Site

Another rezoning application has been filed under the increasingly well-known Affordable Housing Choices Interim Policy. This one is for a seven-lot, full block land assembly on the East side of Renfrew Street, between East Georgia Street and Adanac Street. The full land assembly totals 25,816 SF.

The proposal is for a five-storey mixed-use building, consisting of:

    • 77 rental apartment units;
    • 56 one-bedrooms, 9 two-bedrooms & 12 3-bedrooms;
    • 7,868 SF of retail space along Renfrew;
    • a total density of 2.96 FSR;
    • a five-storey building height of 58 ft.; and
    • 81 underground parking spaces over two levels.

The application describes the design rationale: “Our concept proposes typical setbacks for Mixed-Use buildings in the City of Vancouver, with approporiate stepping from the lane in consideration of existing dwellings. The commercial uses are setback 2’0” from Renfrew Street, and the townhouses are setback 7-0” from Georgia Street. We designed a 12’-0” setback from the lane to the townhouses comprised entirely of landscaped terraces which will significantly improve the current condition of the lane.

At the third and fourth storeys, the building maintains a 25’-0” setback from the lane, which increases to 40’0” at L5-6. Above L4, we have setback the residential uses 2.5m from the property line, and created street facing patios for residents.

On Level 5, a common rooftop patio amenity has been proposed for residents of the building. We have taken steps to address privacy and overlook issues at the shared amenity, while providing a welcoming and pleasant space for residents. The rooftop is partially occupied with urban agriculture, taking advantage of the solar exposure to provide a practical and sustainable amenity for residents.”

This application is being considered under the Affordable Housing Choices Interim Rezoning Policy.

The site sold in June 2017 for $15,970,000, or $209 per buildable SF based on the application.

The architect for the project is GBL Architects.

March 1, 2018by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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