The owners of an papartment building on Oak have applied for a development application to redevelop an existing apartment property they own at 2975 Oak Street (at West 14th). The proposal is permitted under the existing RM-3A zoning, but required City approval. The plan includes:

• Heritage designation of the existing structure
• 50 market rental units
• A total density of 2.8 FSR

Bogner Development Group is proposing to rezone a former Church site on West Boulevard (2095 West 43rd Avenue) from RM-3A  to CD-1 to allow a 6-storey rental apartment building under the Rental 100 program that includes:

• 56 secured market rental units;
• a density of 3.25 FSR
• commercial uses at grade; and
• 29 underground parking spaces.

Read more: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/2095w43rd/index.htm

1638 West 3rd Avenue Brochure

A portfolio of five apartment buildings that was offered for sale in 2013 has sold to a private investor from China, now based in Vancouver. The 5-building, 193 unit portfolio of buildings in the West End and North Vancouver sold at a blended average cap rate of approx. 3.75%.

The largest and most prominent building among the five assets, is Pacific Beach Apartments, a 56-unit concrete highrise located at Jervis and Beach Avenue. The building sold for $15,200,000, representing $272,000 per unit.