The 63-storey Trump Tower Vancouver is nearing completion. The 63-storey, 218 unit condo and 147 hotel room tower is expected to open in summer 2016.
Photo courtesy 604 City on Flickr
PCI Group has filed an application to rezone a property they own at 2805 East Hastings Street, most commonly known as a Burger King for many years. The plan for the 24,902 SF, C-2C1 zoned site is to develop a six-storey rental building with retail on the ground floor. The proposal includes:
- 92 rental apartment units;
- 18,300 SF of CRU retail on the ground floor;
- a density of 3.84 FSR
- a building height of 70.2 ft. ; and
- 97 underground parking spaces.
This application is being considered under the Rental 100 Program and is possible due to the site’s location on a main arterial street. The site has 204 feet of frontage on Hastings.
The application describes the development as follows:
“Located on the Hastings corridor, the project provides for a ground floor containing small scale retail CRU’s with five storeys of residential use consisting of 92 residential rental units, which include 55 one-bedroom units (average size of 544sf), 32 two-bedroom units
(average size of 742sf) and 5 three-bedroom units (average size of 1,000sf).
The project incorporates one and a half levels of underground parking with access at the northeast corner from the lane. A modest size amenity space is located on the sixth floor with an adjacent landscaped outdoor terrace. The elevators provide access to a roof garden.”
The architect for the project is Burrowes Huggins Architects.
PCI Group acquired the site in August 2015 for $11,100,000. It was listed and sold by Casey Weeks and Steve Fame of Colliers.
Lost amid the hype surrounding the impending City of Vancouver council decision on the removal of the Dunsmuir and Georgia viaducts is the release of the policy statement for the Oakridge Transit Centre (“OTC”) site, which is slated for imminent sale.
OTC is a 13.8 acre site on West 41st Avenue just east of Oak Street that is owned by Translink and has been used as a bus barn since 1948. Upon completion of the new Vancouver Transit Centre in 2006, the site became redundant over the next few years and Translink subsequently approached the City to redevelop the site. Planning began in early 2014, with various open houses and workshops, culminating in the current policy statement.
The report describes the vision for the site:
“The OTC will be primarily residential and designed to accommodate a range of housing
types and provide for a mix of incomes. New housing will be focused around a central public park that includes a childcare centre, and local-serving shops and services will be concentrated along West 41st Avenue. The OTC will invite local residents into and through the site on public walkways, bicycle paths, and new streets. The tallest buildings will be located in the centre of the site and along 41st Avenue to reduce impacts to the surrounding neighbourhood and shadowing on public spaces.”
Here is a summary of what is being proposed for the site:
- a total density of 2.1 FSR
- 1,265,000 SF of development (estimated to be roughly 1,200 units)
- Building heights of 3-15 storeys
- 20% of units are affordable housing units
- 10,000-20,000 SF of retail uses along West 41st frontage
- 2.3 acre park
- $60 Million+ CAC
- Rezoning for adjacent Oakmont Medical Centre site (6-storeys, 2.5 FSR) and Petro Canada (8-storeys, 3.25 FSR)
A lowrise retail and office building at West Broadway and Ash Street has sold for $38,888,888 to a Chinese investor. The 34,600 SF building was sold by TPMG Capital, a long-time owner. The property is 31,250 SF in size and is zoned C-3A which allows a density of 3.0 FSR, but only for commercial use in this sub-area, this equates to $415 per buildable SF. The main retail tenant is Rogue, which has a long-term lease.
Another week, another couple of rezoning applications for the Cambie Corridor…
Two applications have been filed for separate sites/projects across the street from each other on the West side of Cambie Street at West 62nd Avenue. The two applications feature similar designs and appear to be from the same developer:
This is a 10,544 SF site is for a 6-storey residential building that includes:
- 27 residential units;
- a building height of 65 feet;;
- a density of 2.70 FSR; and
- 36 underground parking spaces and 35 bicycle spaces.
This site, currently occupied by a duplex, was sold 2014 for $3,940,000, or $139 per BSF based on the anticipated density.
This is a 10,512 SF site is for a 6-storey residential building that includes:
- 22 residential units;
- a building height of 70 feet;;
- a density of 2.70 FSR; and
- 31 underground parking spaces and 46 bicycle spaces.
This property was previously listed for sale for $4,800,000, and sold for $4,300,000, or $150 per BSF to SDAE DEVELOPMENT (CANADA) CO. LTD.
Both applications are being considered under the Cambie Corridor Plan. The architect for both projects is GBL.
Hotel development planned for site of Troll's Restaurant in Horseshoe Bay
District of North Van council sends proposed CapU student housing tower back to drawing board via @NorthShoreNews
First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while