64 Rental Units Pitched for Upper Lonsdale Site
Cascadia Green Development has submitted a rezoning application to the City of North Vancouver for a site at the southeast corner of Lonsdale Avenue and East 26th Street, north of the Trans Canada Highway,
The site at 2540-2590 is currently improved with two older apartment buildings that contain a combined 25 units.
The OCP designates the subject site as Residential Level 5 (R5). Residential Level 5 seeks to provide quality multi-family housing with a mix of unit sizes, with a focus on creating attractive and active streets. R5 permits a maximum density of 2.6 FSR, inclusive of a 1.0 FSR bonus, and a maximum height of 6-storeys.
The rezoning proposal is for a 5-storey building and includes:
- 64 market rental units;
- 30 Studios, 16 one-bedrooms, 11 two-bedrooms, 7 three-bedrooms;
- 10% of units secured in perpetuity at 10% below CMHC market rents;
- a total density of 2.60 FAR;
- 42 vehicle parking spaces.
The architect for the project is Integra Architecture.
The site was acquired in 2019 for $9,150,000, or $208 per buildable SF based on the application.