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Apartment, Condo, Development

Rezoning Application Details Next Phase of ‘Southgate City’

Ledingham McAllister has submitted a rezoning bylaw amendment application to proceed with development of the next phase of Southgate City, the massive redevelopment project on the 52 acre site in the Edmonds area of South Burnaby.

Southgate City was approved via rezoning for a master plan in 2015 to include up to 5.9 Million SF of residential density. This particular phase had a rezoning application in 2016, however, that application did not proceed and the City of Burnaby’s Rental Use Zoning Policy now applies to the overall master plan of the project.

This first phase is located in the Gateway Neighbourhood, comprising two City-owned lots that will form the Western entrance to the overall master planned site.

The site will be divided into three lots: the City will retain ownership of Lot B, the eastern lot fronting Eighteenth Street, and lease it to BC Housing for development of non-market rental housing. The City would also retain ownership of the western lot fronting Griffiths Avenue, which would include an urban trail and park. The central lot, Lot A, which is to front the future Southgate Boulevard, is intended to be the subject of a land exchange between the City and Ledingham for an equally sized and designated site within the remaining Southgate Master Plan. The central lot would be developed by Ledingham for a condo tower.

The plan includes a 41-storey condo tower over a six-storey podium, and a 37 storey non-market residential tower over a six-storey podium. Further details include:

  • 926 residential units;
  • 421 condos;
  • 37 studios, 160 one-beds, 197 two-bedrooms & 27 three-bedrooms;
  • 505 non-market rental;
  • 94 studios, 205 one-beds, 164 two-bedrooms & 42 three-bedrooms;
  • a total density of 6.16 FAR (see table below);
  • 16,000 SF in amenity facilities;
  • construction of new roads including Southgate Boulevard;
  • 740 underground parking stalls.

The architect for the project is IBI Group.

November 8, 2020by david.taylor@colliers.com
Development

PCI Acquires Cambie & 41st Site

PCI Group has acquired the prominent former Esso gas station site, now vacant, at the Northeast corner of 41st and Cambie from Coromandel Properties for $40,000,000.

The 130′ x 122′ C-2 zoned site was acquired by Coromandel from Imperial Oil in 2014 for $15,800,000.

Site diagram from a previous (now expired) development application for the site.

There have been no rezoning applications submitted to date, although the Cambie Corridor Plan identifies the site for a tower up to 150 ft. in height.

November 5, 2020by david.taylor@colliers.com
Development, Investment, Retail

SOLD: 4575 Main Street, Vancouver

I am pleased to announce the sale of 4575 Main Street in Vancouver, a single tenant retail property with future development potential.

Our well-crafted marketing campaign launched in June 2020 was able to generate multiple offers and ultimately achieve a sale price over asking.

Please contact me to learn more about this sale.

November 4, 2020by david.taylor@colliers.com
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