An application has been submitted to rezone an 11,500 SF mid-block site at 8815-8827 Selkirk Street. Th plan is to rezone from the current MC-1 industrial zoning to allow for a 6-storey mixed-use building. The proposal is being made under the Marpole Community Plan, and the project includes:

• 33 residential units;
• 24 one-bedrooms, 6 two-bedrooms and 3 three-bedrooms
• 2,408 SF of commercial space on the ground floor;
• a building height of 61 ft.;
• a total density of 2.96 FSR; and
• 36 vehicle parking spaces and 42 bicycle spaces.

The site is currently improved with two older lowrise office/industrial buildings. The area south of West 70th Avenue has potential for new residential buildings, but so far has been slower to develop than other more established residential areas of Marpole.

The architect for the project is Wilson Chang.

Here is a brief snapshot of the condo resales market since the start of 2016, shown as average price per SF broken down by sub-area/neighbourhood.

Source: MLS Data

The above chart reflects data on all MLS sales for condo units that were one year old or newer at the time of sale, and only includes neighbourhoods with sales in multiple buildings. Pricing is slightly distorted by product type; for example, all of the downtown condo product is concrete highrise which is more expensive, whereas all of Maple Ridge product is in lowrise or townhouse form that is much cheaper to build and sell. Nevertheless, some may find the average pricing stats interesting.

The market for pre-sales inventory is likely to track above the average resales in a given sub-market.

Here is a construction update on Serracan Properties‘ office building project at the southeast corner of Seymour St. and West Pender St. in Downtown Vancouver.

510 Seymour will be 82,000 square feet and 10-storeys tall. Upon completion, the majority of the building will be occupied by Adler University and shoes.com.

The building looks to be nearly topped out now.

Photo courtesy mcminsen http://po.st/7Ap7Hh via @imageshack

Photo courtesy mcminsen http://po.st/RtRmLm via @imageshack

Photo courtesy mcminsen http://po.st/WE7jqj via @imageshack