East Broadway Properties Sell in $33 Million Deal

Reliance Properties has acquired two properties at the Northwest corner of East Broadway and St. George Street in East Vancouver in an off-market transaction.

465 East Broadway is currently improved with a non-descript two-storey office building. The sale also involved an adjacent 6,039 SF parking lot on East 8th Avenue.

The zoning for the Broadway property is C-2C, which permit a maximum density of 3.0 FSR. The East 8th Avenue property is zoned RM-4. The Mount Pleasant Community Plan allows rezoning for greater density based on a 6-storey building form. The City of Vancouver’s forthcoming Broadway Area Plan may also impact the development potential of the property.