A plan by FDG Property Management to rezone a site at 161-165 East Keith Road has gone through public hearing. The plan is for a 17-storey, 93 unit residential development, of which 52 units will be stratified and 41 units will be secured as rental in perpetuity as a density bonus. Parking will be provided underground and accessed from East 6th Street. A density transfer is being proposed from adjacent City land (closed road).
A three-storey office building located at East 1st and Lonsdale has sold for $6,400,000. The 18,000 SF building was built in 1949 and is located on a 9,007 SF site. The property’s 2015 assessment is $5,620,000. The ground floor is leased to Eternal Skin Care.
Next week the City of Vancouver Standing Committee on Planning, Transportation and Environment will present the annual report on Community Amenity Contributions (CACs) and Density Bonusing. The report going to council is for information purposes and provides an interesting snapshot of the amount of CAC’s generated by the City (in 2013). Here’s a few highlights:
Top 10 Rezonings in 2013 – Ranked by Public Benefit
Imperial Oil has sold its 232-acre property in Port Moody and Anmore to a Vancouver-based company called Brilliant Circle Group (BCG), The Tri-City News has learned.
The sale became official last week, nearly two years after Imperial Oil put the property up for grabs as one of the largest prime real estate development opportunities in Metro Vancouver.
The undeveloped land — 150 acres in Anmore and 82 in PoMo, including the historic Ioco townsite — sits on the eastern side of Imperial Oil’s 600-acre holdings in the area.
“We’re starting with a blank piece of paper, we’re not coming in with any preconceived ideas,” said architect James Cheng, renowned as one of Vancouver’s leading residential tower designers. Cheng is representing Vancouver-based BCG and said the company’s principal, who asked that his name not be used, is a Canadian citizen with residences both here and in Hong Kong.
BCG is well aware of the environmental, heritage and bylaw restrictions on the land, Cheng said, but the property was too enticing to resist, adding that the group has purchased chunks of land in Metro Vancouver before but nothing on this scale.