Below is a snapshot of the housing price index for East Vancouver and Westside single family homes relative to Westside condos (including downtown). Of note, while average single family house prices in East Vancouver did not experience as much inflation as the Westside did in 2012, recent price gains are now tracking right along with the Westside.

It would be an interesting analysis to determine how much speculation and redevelopment activity is playing into house price increases.

Data source: REBGV HPI

300 West Esplanade Brochure_E

Here’s a view of the first phase of King George Station in Surrey. This phase of the project by PCI Group is the new help headquarters for Coast Capital Saving Credit Union.

Photo by 604 City, Flickr

Serracan Properties have submitted a rezoning enquiry for a site at 725 SE Marine Drive, at the corner of Fraser and Southeast Marine Drive. Currently occupied by a 6-storey, 100-room Super 8 Motel, and formerly known at the Blue Boy Motor Hotel since it was originally built in 1963; the 1.77 acre site is currently zoned CD-1.

As the existing CD zoning only allows hotel and retail uses, Serracan is now seeking a rezoning to allow a mix of uses, including residential. The site falls under the Sunset Community Vision, which allows site-specific rezoning only after preliminary planning work and community consultation is completed. Serracan, in conjunction with planning consultancy Brook Pooni, have already been consulting with the surrounding neighbourhood since 2013 and appear to have positive feedback from the community.

City council need to confirm that they will consider a rezoning application for the site before it goes to the application process.

Early concepts for the site include:

• Commercial, community uses and residential
• Towers ranging from 15 to 26 storeys
• A neighbourhood food store
• Public benefits including: childcare, community facilities, affordable housing
• Negotiated community amenity contribution (as opposed to fixed rate)

Site today

1867 West Broadway, a 3-storey B Class concrete office building more commonly known as The CGA Building, has sold for $16,125,000. The 31,000 SF building was owned by the Certified General Accountants Association of B.C., who will vacate it’s 26,000 SF this summer. The site the building is located on is 13,402 SF and is zoned C-3A. The property was listed for sale in late 2014 with no asking price.

The 2nd floor of the building is currently listed for lease at $22.00 per SF.

The purchaser was Austeville Properties who owns the adjacent commercial building. This appears to be a long-term strategic investment as opposed to any kind of redevelopment deal.