A rezoning application has been filed with the City of Vancouver for the Petro-Canada site at 8072 Granville Street in Marpole. The proposal would replace the service station with an 11-storey mixed-use building combining residential, hotel, office and retail space. It’s one of the more ambitious proposals to come forward on the Granville corridor south of 70th Avenue.

The application asks to rezone the site from C-2A (Commercial) to CD-1 (Comprehensive Development), which is the route typically used for projects that go beyond what existing zoning allows.

What’s proposed

The building would rise 152 feet at a floor space ratio of 6.11. The mix of uses is stacked by floor:

• Ground floor: 8,755 SF of commercial retail space
• Levels 2 to 3: 34,841 SF of office space
• Levels 4 to 6: a 65-room hotel
• Levels 7 to 11: 65 residential strata units
• Rooftop: an amenity space, over three levels of underground parking

Beyond the Marpole Community Plan

The application is being considered under the Marpole Community Plan, and the applicant has asked the City to consider height and density in excess of what the plan envisions. That is the key question for this site. Staff will review the proposal and report back, and the final project statistics will be set out in the referral report. The figures above are as submitted.

Why it’s worth watching

The mix of uses is unusual for Marpole. Hotel and office space are in short supply in this part of the city, and a project that adds both alongside strata housing and street-level retail would be a significant change for the Granville corridor. Marpole sits next to the Canada Line, and larger-format commercial and mixed-use sites along Granville rarely come up for redevelopment.

For owners of neighbouring commercial properties, the outcome of this application will be a useful indicator. If the City supports additional height and density here, it will inform how nearby sites along the corridor are valued for future redevelopment. If it holds closer to the community plan, that sets a different benchmark. The City’s Q&A period runs from December 2 to December 15, 2026.

If you own a commercial or redevelopment property in Marpole, South Granville or elsewhere in Vancouver and would like an opinion of current market value, I’d be happy to help.

The full application can be viewed here: https://www.shapeyourcity.ca/8072-granville-st

A two-storey mixed-use building at 5461 12th Avenue in the heart of Tsawwassen’s commercial district has sold for $3,000,000. The sale completed on July 21, 2026, after roughly four months on the market. It was originally offered at $3,100,000, so the final price landed at about 97% of the asking price.

The building was constructed in 1992 and combines two ground-floor professional office units with residential suites on the second floor. It sits on a corner lot of roughly 8,494 SF with frontage on both 12th Avenue and 55th Street, and has 10 surface parking stalls.

Sale details

• Sale price: $3,000,000
• Cap rate: 4.5%
• Building size: 7,346 SF
• Lot size: 8,494 SF

A rare mix of income and optionality

At a 4.5% cap rate, the property offers a purchaser meaningful holding income, which is not always the case for sites with redevelopment upside. The building was marketed with a mix of tenants, and a large second-floor owner’s unit of approximately 2,651 SF that could be occupied by an owner-user or leased to generate additional income.

The land is the other half of the story. The site is designated Neighbourhood Centres & Corridors, the same higher-density designation that applies to neighbouring undeveloped properties to the west and north. That gives a buyer the option of holding the existing income for the medium term and positioning for a future redevelopment as Tsawwassen’s town centre evolves. The site is fully serviced and within an easy walk of grocery, banking and restaurant amenities.

What it tells us about the Delta market

Small, multi-tenant commercial and mixed-use buildings in Tsawwassen trade infrequently, and buyers are typically local investors and owner-users looking for stable income with a long-term land play. A sale at a 4.5% cap rate, with a modest discount to the asking price after a four-month marketing period, is a useful data point for owners of similar buildings in the South Delta commercial core.

If you own a commercial or mixed-use property in Delta, Tsawwassen or elsewhere in the South Fraser, I’d be happy to provide an opinion of current market value.

A 10-suite apartment building at 1176 West 11th Avenue in Vancouver’s Fairview neighbourhood has sold for $2,895,000.

The property is a two-storey, plus basement, walk-up apartment building with no elevator or balconies and five surface parking stalls. It sits on a 50-foot by 125-foot lot, a good-sized site for the area. The building was sold fee simple with 100% of the interest transferred.

Sale details

• Sale price: $2,895,000
• Price per unit: $289,500
• Lot size: 6,229 SF

The sale completed on August 31, 2026, and was brokered by Colliers’ Morgan Iannone and Casey Weeks.

What the buyer is really buying

At $289,500 per suite, the price reflects an older low-rise building, but the land underneath is the bigger story. The site falls within the Broadway Plan’s rezoning-eligible areas, where the Fairview South mid- to high-rise residential designation enables rezonings. The marketing materials outlined potential for up to 20 storeys and roughly 40,625 SF of multi-family space at a 6.5 FSR. On those numbers, the sale price works out to about $71 per buildable SF before accounting for the existing improvements.

For a purchaser, that creates two options. The building can be held and operated for its income in the near term, with upside as suites turn over and rents are reset. Or it can be positioned for redevelopment as the Broadway corridor continues to intensify. The site is also close to the Broadway Subway extension, with the future Oak Street station within a short walk, which supports long-term demand for both rental housing and new strata or rental development.

Why it matters for the Westside

Small, older walk-ups on high-density-designated lots remain one of the more active niches in Vancouver’s multifamily market. They sell on a blend of in-place income and land value, and as the Broadway Plan matures, buyers are increasingly pricing in the development potential. Sales like this one give owners of similar buildings along the corridor a useful current benchmark.

If you own an apartment building in Fairview, Mount Pleasant or elsewhere along the Broadway corridor and would like an opinion of current market value, I’d be happy to help.