From the Globe and Mail:

An entire city block is up for grabs for $28-million in Vancouver’s upscale Kerrisdale neighbourhood, providing a glimpse into what a difference zoning makes when determining land values.

Since HQ Commercial posted the listing late Friday night, it has created a buzz in the city’s real estate circles. The asking price for the commercially zoned “C-2” block works out to $357 a square foot of buildable space or $893 a square foot of land.

David Goodman, a principal at HQ Commercial, expects the Kerrisdale property will attract bids from developers interested in constructing a four-storey condo complex after demolishing the five aging two-storey rental buildings on the site.

The assessed value of the entire property totalled $15.9-million on July 1, 2013, according to BC Assessment. The city block has enough room to fit in 10 single-family detached homes if they each were to have skinny 26-foot frontages. But the $28-million asking price reflects HQ Commercial’s belief that the land will be attractive to developers who could design ground-floor businesses such as a grocery store and restaurant, while saving the top three floors for condos.

Read More: http://www.theglobeandmail.com/report-on-business/economy/housing/the-real-estate-beat/entire-city-block-in-upscale-vancouver-neighbourhood-listed-for-28-million/article20851458/comments/

Another week, another highrise proposal for Brentwood. This one is from Polygon Homes for an 81,414 SF site at the foot of Madison Avenue. The rezoning application is based on the RM4s designation under the City of Burnaby’s Brentwood Town Centre Plan, with a total density of 3.6 FAR, or 280 units.

Interestingly, due to high groundwater and challenging geotechnical buildings, the parking is above-grade and is proposed to be located behind street-oriented residential units.

Here is an update of 980 Howe Street; an office building being built by Manulife at the corner of Howe and Nelson:

Beedie Living has filed a rezoning application for an 18,287 SF site it acquired in 2013 at 105 Keefer Street and 544 Columbia Street. The proposal is for a 14-storey mixed-use building that includes:

• 137 residential units;
• commercial space on the ground and 2nd levels;
• a total density of 7.92 FSR;
• three levels of underground parking; and
• a height 127 ft.