8010 Saba Road in Richmond has sold for $24,250,000. The property is improved with a 33,456 SF retail and office building whose main tenants include HSBC and National Bank Financial. The purchase price equates to a 4.4% cap rate, or $722 per SF. The building was sold by bid process in June with no asking price.

Here is a video overview of the property by the listing agent, Cushman Wakefield:

8010 Saba Road, Richmond BC from Cushman & Wakefield | Vancouver on Vimeo.

Ledingham McAllister is moving forward with a rezoning application to develop a 59,244 SF site at 5415 Lougheed Highway in the Brentwood area of Burnaby with a four-storey apartment building with three-storey townhouses fronting Broadway and Lougheed Highway. Plans include:

• 101 condo units
• a total density of 1.50 FAR
• 32 one-bedroom units and 69 two-bedroom units
• 123 underground parking spaces
• $3,022,760 CAC ($130 per buildable SF x 0.4 FAR town centre bonus)

A new light industrial/office building is being planned for a mid-block site on Railway Street, in an area East of Main Street along the CN Rail tracks. The plan for the 132′ x 53′ (6,584 SF), M-2 zoned site is for a 6-storey building including:

• retail on the ground floor, manufacturing on floors 2, 4 & 5, wholesaling on the third floor and office space on the 6th floor
• a total density of 5.0 FSR
• a building height of 100 ft.
• 3 levels of underground parking
• no building setbacks

Considered Design Inc., the landscape architect for the project, has some renderings on their website, including the one below.

A development application has been made to the City of Vancouver to develop a 20,108 SF site at 8492-8570 Osler Street, an assembly of five single-family homes near Oak and 70th Street. This area was rezoned by the Marpole Community Plan in 2014 and this particular block is now in the RM-8 zone, which allows townhouse development up to 1.20 FSR. The plan by Formwerks Architectural for this assembled site includes:

• a courtyard townhome development with 4 buildings
• a total of 18 two plus partial storey units
• 1 level of underground parking accessed of lane
• A total density of 24,220 SF (1.20 FSR)
• 30 ft courtyard

Orr Development has applied to rezone a site at the Southwest corner of 49th and Main Street from C-2 to CD-1. The plan is calls for a rezoning of the site under the Rental 100 program to allow a 6-storey apartment building building that includes:

• 75 secured market rental units;
• retail space at grade
• a building height of 70.2 ft. from grade;
• a density of 3.60 FSR, and
• 80 underground parking spaces and 97 bicycle parking spaces