1985 West Broadway has sold to The Property Management Group for $39,000,000. The 5-storey ‘A’ Class building, known to most as the Wawanesa Building at Broadway and Maple, was built in 1985 and totals 50,981 SF. The sale price equates to $765 per SF, or a 3.30% cap rate. Wawanesa was the seller in the transaction.

The property had been listed for sale by Avison Young. Below is a marketing video depicting the property:

The C-3A zoned property is located on a 17,280 SF site just a block East of what is anticipated to be a future transit station at Arbutus.

Port Living has submitted a rezoning application for a site at 2202 Main Street, on the Southeast corner of 6th and Main in Mount Pleasant. 

The 17,445 SF site, currently occupied by Blue Star Motors and a 2-storey commercial building, is currently zoned IC-2 but has rezoning potential as part of the Mount Pleasant Community Plan.

The proposal, entitled “Main Street Arts”, is to permit the development of a 6-storey mixed use building that includes:

• • 65 condo units;
  • 19 studios, 19 one-bedrooms, 17 two-bedrooms and 10 three-bedrooms;
  • 9,614 SF of at-grade retail plus 6,617 SF of below ground retail;
  • A total density of 3.86 FSR;
  • A building height of 74.5 ft;
  • 99 parking spaces (including 1 car share space); and
  • 2 Class B loading spaces.

The architect for the project is Studio B Architects. 

I am pleased to introduce this remarkable corner site on Commercial Drive in the burgeoning Grandview Woodland area of East Vancouver. The site represents a rare opporunity to develop a 6-storey market residential building just 3 minutes from one of Vancouver’s busiest transit hubs – Commercial/Broadway Skytrain Station.

Brochure – 1650 East 12th Ave – E Copy

Adera Development has submitted a rezoning application to the City of North Vancouver for a former TELUS property at 8th and Lonsdale (south of East 11th). The site is triangular in shape and totals 62,543 SF. The proposal would include the retention of portions of the existing TELUS utility building which occupies the easternmost extent of the site; the site would be subdivided and 30 parking spaces would be provided for TELUS‘ use within the new residential development to the West.

The proposal, entitled Lonsdale Cityhomes, includes two new 6-storey residential buildings and a mix of townhouses. Details include:

• 179 units;
• Sizes varying from 600 to 1,900 SF;
• a total density of 2.60 FAR;
• a total CAC of $8,756,020;
• 235 parking spaces

The lot is zoned Residential Medium Density 1 (RM-1) with an Official Community Plan designation of Residential Level 5. The OCP allows for a density of 1.6 FSR and a potential for an additional bonus of up 1.0 FSR in accordance with the Density Bonus and Community Benefits Policy. 

The architect for the project is Integra Architecture.

Boffo Properties has submitted a rezoning application for a four-lot land assembly in Edgemont Village, which they intend on developing as a follow-up to their currently under construction project nearby “Edgemont Walk”. 

The site is located at 1031, 1037, 1041 and 1045 Ridgewood Dr., just East of Grosvenor’s Connaught project, also under construction. The lots were redesignated in 2015 in the Edgemont Village Centre Plan, and allow townhouses up to 1.20 FSR.

Details of the proposal include:

• 25 townhouse units in five 3-storey buildings;
• 3-bedroom units ranging from 1,725 to 2,402 SF;
• A total density of 1.20 FSR; 
• 52 parking stalls
• A CAC payment of $180,000.

The architect for the project is TKA+D Projects.