Shato Holdings has acquired Willowbrook Park Shopping Centre in Langley from Valley Properties in a $136,975,000 deal that closed in January 2025.

The property was listed and sold by Stu Morrison and Randy Heed of Colliers.

The centre comprises 193,785 SF situated on three properties totaling 20.15 acres and is adjacent to the Willowbrook Shopping Centre (commonly referred to as Willowbrook Mall), the area’s regional shopping centre of over 640,000 SF. The property is anchored by Safeway and is 90% leased to national retailers.

The projected 2025 NOI for the property is $5.5 Million, equating to a 4.0% going-in cap rate.

Fairborne Homes has revised their proposal for the 2.4 acre site at 1510 – 1530 Crown Street and 440 Mountain Highway (formerly the Dykhoff Nursery site) in the Lynn Creek area of North Vancouver.

The site was previously rezoned in 2022 to allow for a project with a 24-storey, 205-unit condo tower with 215 rental units in a concrete midrise.

The revised proposal includes:

• 429 rental units including 45 below market;
• 25,865 SF of commercial space;
• reduced underground parkade

The architect for the project is Arcadis Architecture.

GECC (Global Education Communities) has submitted a rezoning application for a site they own at the corner of Cambie & 48th in Vancouver.

The site was previously rezoned for a 10-storey, 78-unit market rental project, but was then sold in 2024 to GECC by Casey Weeks and Morgan Iannone of Colliers.

Under the new TOA rezoning policy, a new proposal “GEC Langara” has been brought forward to allow for the development of a 26-storey rental building and includes:

• 182 rental units (20% below market);
• 1,100 SF of retail space;
• a total density of 10.24 FSR; and
• A building height of 261 ft.

The application is being considered under the Transit-Oriented Areas Rezoning Policy and Cambie Corridor Plan. The application requests consideration of density and height in excess of the existing policies.

The 2024 sale at $17,500,000 equates to $111 per buildable SF.

The architect for the project is Urban Solutions Architecture.

The full rezoning can be viewed here: https://rezoning.vancouver.ca/applications/6428-6438-cambie-st-and-480-488-w-48-ave/application-booklet.pdf