A 2-storey retail and apartment building at 6964 Victoria Drive has sold for $3,050,000. The 5,710 SF building includes a dentist office on the ground floor and two residential units above.

Deal metrics:

• Cap Rate: 4.75%
• Price/SF: $595

The asking price for the property was $3,395,000.

Property brochure: https://macdonaldcommercial.com/docs/listings/6964-victoria-drive/Victoria-6964-Vancouver.pdf

The listing agent for the property was Jake Luft of Macdonald Commercial.

A revised rezoning application has been submitted for a two-lot land assembly (17,427 SF) at 2805–2811 St. Johns Street in Port Moody.

A previous application from 2023 had anticipated a 6-storey commercial building.

While the site falls within the province’s Transit-Oriented Area (TOA) policy—permitting up to 12 storeys and 4.0 FAR—the applicant aims to achieve 3.84 FAR within only 6-storeys, leading to design challenges due to the site’s limited size and frontage. The proposal does not meet current zoning (CRM-2) requirements for lot size, frontage, or canopy coverage and has not yet fulfilled the City’s Inclusionary Zoning policy for affordable housing.

Development Proposal Summary:

• Residential Units: 52 total units
  • 6 proposed as below-market rentals (subject to viability review)
  • 100% adaptable units
• Retail: 15,317 SF
• Parking: 71 vehicle spaces
  • 33 residential, 10 visitor, 28 commercial
  • 98 bicycle spaces (80 long-term, 18 short-term)
• Building Height: 6 storeys + rooftop patio

Despite some alignment with broader planning goals, concerns were raised by the Land Use Committee regarding the project’s non-compliance with CRM-2 zoning parameters, limited lot area, lack of sufficient tree canopy coverage, potential traffic impacts on St. Andrews Street, and the bulky building form. Staff also flagged that the proposal would likely require further amendments or acquisition of adjacent parcels to meet design, environmental, and livability expectations. The developer has also requested flexibility on delivering affordable housing, which is under review and subject to third-party verification.

The architect for the project is Mara + Natha Architecture.

A rezoning application has been submitted by Bonnis Properties for a 30, 300 SF site that they own in the 600 block of Kingsway at East 16th Avenue, just West of Fraser Street.

The proposal is to allow for the development of two rental towers with a combined 327 units: a 14-storeys (North Tower) and a 25-storeys (South Tower). Additional details include:

• 120 market rental units (North Tower) and 207 market rental units (South Tower) with 20% of the total residential floor area for below-market units;
• 18,000 SF of retail space;
• a private 20-space childcare facility;
• a total density of 8.50 FSR;
• A building height of 167 ft. for the North Tower, and 276 ft. for the South Tower.

This application is being considered under the Broadway Plan.

The architect for the project is Perkins&Will.

The full application can be viewed here: https://rezoning.vancouver.ca/applications/602-644-kingsway-and-603-617-e-16th-ave/application-booklet-1.pdf

Wall Financial has submitted a preliminary development proposal for a property they own, known as ‘Peter Wall Ambleside’ at 1552 Esquimalt Avenue in the Ambleside area of West Vancouver.

The proposal is the latest iteration of several proposals to densify the 1.90 acre site over the years, beginning as far back as 2016. Previous plans included new rental infill but the most recent version was placed on hold pending the outcome of the Ambleside Local Area Plan.

The existing 20-storey apartment building was constructed in 1969 and contains 185 rental units. It is located on the east portion of the site.

The new application envisions a 19-storey condo building (secured as rental units for the first 6 years). Details include:

• 139 condo units (secured as rental for a 6-year term)
  • 68 one bedrooms
  • 68 two-bedrooms
  • 3 townhouse units
• a total density of 3.0 FSR across the entire site.

The architects for the project are JOG Architecture and Chris Doray.

Ledcor has applied on behalf of Telus for the rezoning and redevelopment of an existing Telus owned property at 6486 Chester Street in East Vancouver. The site is an existing infrastructure site for Telus, one of several proposed for residential redevelopment.

The proposal is to allow for the development of a 6-storey rental project that includes:

• 116 rental units;
• a telecommunications facility on the northeast corner of the site;
• a total density of 2.89 FSR;
• A building height of 73 ft.

This application is being considered under the Secured Rental Policy.

The architect for the project is Yamamoto Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/6486-chester-st