A four-storey condo project is proposed for a long-vacant site at the southeast corner of Imperial Street and Royal Oak Avenue.

The site is made up 6808 and 6826 Royal Oak Ave and 5250 Imperial St. The proposal is for a mixed-use development with ground-floor commercial space and parking underground.

Rezoning for an earlier proposal was given third reading by council in 2008 but the owner has since revised the plan, making a new process necessary.

The current proposal is for commercial on both Imperial and Royal Oak with 45 apartment units on the three upper floors.

The units will comprise 15 one-bedrooms, 10 two-bedrooms, 17 two-bedrooms-plus-den units and three three-bedrooms-plus-den units.

Read more: http://www.burnabynewsleader.com/news/247098061.html

IMG_9040, a photo by devguy920 on Flickr.

MNP Tower under construction on a beautiful winter day, February 25, 2014.

It appears that the tower will be topped out in the next couple of months.

IMG_0581, a photo by devguy920 on Flickr.

Telus Garden office tower under construction February 25, 2014.

Concerns are emerging that a building boom of office towers in downtown Vancouver is creating far too much supply.

Only half the 2.18 million square feet of new office space in seven towers under construction downtown — a boom enabled by new zoning bylaws in 2009 — has been preleased, executives at the Vancouver Real Estate Forum said Thursday.

“I am not seeing a lot of office demand right now, and that is concerning to me,” Bart Corbett, senior vice-president of Cushman & Wakefield, said in an interview.

Corbett and other executives discussed office space development and economic trends at a panel discussion titled “The Vancouver Hangover?”

A common theme was that Vancouver’s commercial real estate market is slowing. The panel was asked how eager landlords are to offer inducements to would-be tenants, and which sectors among high-tech startups, resource industry offices, or “slow and steady” traditional businesses, are preferred.

Read more: http://www.theprovince.com/business/real+estate+executives+gather+discuss+Vancouver+housing+trends/9530873/story.html

Zhong An Real Estate (Canada) Ltd. has acquired a much publicized single family estate development site in the British Properties area of West Vancouver referred to as Camelot Estates. The 5.4 acre site, which has preliminary approval for a 12-lot high-end subdivision, sold for $17.6 Million, or approximately $1.5 Million per lot. It is unknown if the new buyer will pursue the same proposal as the previous group.