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