The formal rezoning application has been submitted by Pacific Northern Developments for the site at 1063-1075 Barclay St, the initial designs for which were released at an online open house last month.

The proposal is to allow for the development of a 48-storey residential building under the rezoning guidelines in the West End Community Plan. The proposal includes:

• 374 residential units;
  • 295 condo units;
  • 79 social housing units;
• A total density of 19.1 FSR;
• Building height of 469 ft.;
• Five levels of underground parking with 357 vehicle parking spaces and 770 bicycle parking spaces.

The architects for the project are ACDF Architecture & IBI Group.

The site, currently occupied by an older 7-storey condo building, was acquired in 2018 for $113,000,000, or $343 per gross buildable SF based on the rezoning application.

Polygon has submitted a rezoning application for a 2.8 acre site in the Burquitlam area of Coquitlam. The site is currently an assembly of 18 single family homes that are zoned RS-1 and RS-3.

The overall development would be divided into two sites that would be developed under two separate partnerships. The two sites are entitled ‘Cardinal’ and ‘Burquitlam East’. The two sites would include a total of three 6-storey buildings.

Details of the overall proposal include:

• 278 condo units;
• a total density of 2.3 FAR;
• 207 underground parking stalls in the first phase (Cardinal);
• $1,981,000 in DCC’s from Cardinal, $746,000 in CACs overall.

The architect for the project is Integra Architecture.

A 2-storey retail and aparment building on a prime stretch of West 4th Avenue has sold for $8,800,000. The building at 2041 West 4th is located on a 50 ft. lot and is zoned C-2B. The ground floor retail is currently leased to Turf for the next 6 years. The upstairs consists of two higher end rental units.

The sale price equates to $1,050 per SF for the building.

A virtual tour of the Property can be viewed here: https://fraserelliott.com/2041-w-4th-avenue-vancouver/

I am pleased to present the opportunity to acquire a fully leased auto dealership on Main Street.

Address: 

4575 Main Street, Vancouver BC

Property Features:

• Prime Single Tenant Retail Investment Opportunity at Land Value
• Quality Covenant: National Auto Dealer Tenant
• 5-Year Lease with Two Five Year Renewal Options
• Quality Improvements with Recent Renovations 
• Over 277 feet of frontage at the corner at Main Street and East 30th Avenue 
• 25,341 SF, C-2 zoned site in Mature, Stable Neighbourhood
• Excellent opportunity for future 6-storey rental development under C-2 zone
• Demolition option within first renewal term

Asking $23,000,000, going-in 3.9% cap rate, increasing to 4.25% with rent bumps.

Please contact me for further details.

The preliminary proposal has been submitted for redevelopment of the Shoreland Apartment site at 2190 Bellevue Avenue. The redevelopment had been rumoured last year and was thought to include a concurrent application and demolition of the “Pink Palace” building known as Villa Maris at 2222 Bellevue, although the application does not anticipate immediate redevelopment of Villa Maris at this time.

The Shoreland is a 62-unit, 11-storey rental apartment building that was built in 1963 by the current owners. The site is 29,185 SF in size.

The current zoning for the site is RM2 which allows up to 20 storeys in height.

The owners have put forth two potential redevelopment options for Council to consider:

• Option one: 
• 6 storey non-market building on the west side of the site and a 17 storey market building on the east side of the site
• 186 rental units (24 non-market rental units and 162 market rental units).
• 5.20 FAR density

• Option two: 
• 6 storey non-market building on the west side of the site and a 21 storey market building on the east side of the site
• 230 rental units (24 non-market rental units and 206 market rental units). 
• 6.24 FAR density

Both options include a 6-storey building with affordable units dedicated for “essential service workers”.

A tenant relocation assistance strategy is proposed to be implemented which includes the Villa Maris site located at 2222 Bellevue Avenue. The proposal does not include redevelopment of the Villa Maris site.

The preliminary development proposal will be presented to Council on June 22, 2020, to determine if the proposal can proceed to public consultation prior to the adoption of the Ambleside Municipal Town Centre Local Area Plan.

The architect for the project is James Cheng.