A full city block site on West 33rd Avenue between Laurel and Willow Streets has sold to Vertex Developments for $18,726,000, or $425 per buildable sq ft.

The 5 single-family lot assembly at 809-889 West 33rd Avenue is designated for townhouse development and has been rezoned to RM-8A through the sale process. The zoning allows townhouses to a density of 1.20 FSR.

The 49-unit project, entitled ‘Avenue 33‘ is in registration phase for pre-sales with Magnum Projects.

The architect for the project is Formwerks.

OAK32 Holdings Ltd. has applied to the City of Vancouver for permission to develop a two-lot land assembly at 916 and 926 West 32nd Avenue. The 15,500 sq ft site has already been rezoned to RM-8A which allows 1.20 FSR for townhouses per the Cambie Corridor Plan.

The proposal includes:

• A total of 20 townhouse units;
• 8 garden flat one-bedrooms, and 12 two, three & four-bedroom townhouses;
• A proposed maximum height of 43 ft.;
• A density of 1.20 FSR;
• One level of underground parking.

The site was assembled in 2017 for $7,105,000 or $382 per buildable sq ft.

The architect for the project is Imperial Architecture.

A City of Vancouver report going to Council next week seeks approval for the annual inflationary rate adjustment to DCL’s and CAC’s.

The target DCL and CAC rates are adjusted annually to keep pace with changes in property values and construction costs.

The proposed adjustment for 2022 is a increase of 1.2%. The increase returns to an inflationary trend after the pandemic forced a decrease of 0.8% for 2021.

Here are the new proposed rates:

The new target rates will become effective September 2021.