North Van Rental Development Site Sold
The former Gardenworks site at 705 West 3rd Street in North Vancouver has sold to Western Canadian Properties Group for $14,400,000.
The 24,346 SF site has an approved rezoning application for a 6-storey, 70-unit rental building with a child care facility on the ground floor. The plans had been developed by a joint venture between Omicron and Lotus Pacific, who had originally acquired the site in 2017. The site is essentially ‘shovel ready’.
The sale price equates to $237 per buildable SF based on the approved density of 2.50 FSR.