222 Rental Units Planned for Oak & 41st
Wesgroup has submitted a rezoning application for a 37,000 SF site they own at the Southwest corner of Oak Street and West 41st. The site is comprised of the former Chevron gas station at the corner, as well as a 2-storey medical office building, and comprises effectively a full city block bounded by West 42nd and a lane.
The proposal calls for a large-scale rental development that includes includes:
- Two towers, 8 & 16-storeys in height;
- 222 market rental units (including 52 below market units);
- 20 studios, 123 one-bedrooms, 55 two-bedrooms & 24 three-bedrooms;
- 17,000 SF of retail space including a proposed grocery store;
- A total density of 5.03 FSR;
- Building heights of 179 ft and 90 ft.;
- Partial 17th storey common amenity space;
- 212 vehicle parking spaces and 492 bicycle parking spaces.
The application is being considered under the Cambie Corridor Plan.
The architect for the project is IBI Group.
The full application can be viewed here: https://shapeyourcity.ca/5763-5791-oak-st-and-1008-w-41-ave
Wesgroup acquired the two lots separately in 2017 for a combined $28.6 Million, or $147 per buildable SF based on the application.