A two-storey office building at 1525 West 8th Avenue has sold for $19,500,000. The building sits on a 13,680 SF C-3A zoned property and has potential for redevelopment in the future to include residential. Based on the anticipated base density of 3.0 FSR, the price equates to $475 per buildable SF.

The building had been listed for sale earlier this year. Here is a promotional video outlining the property, including a rendering of a potential future condo tower on the site:

1525 West 8th Ave, Vancouver, BC from Cushman & Wakefield | Vancouver on Vimeo.

Here is a construction update for a residential project that is located on a fairly prominent corner across from City Hall at West 12th Avenue and Cambie Street. The Spot is a 125-unit, 8-storey concrete condo project on a former White Spot restaurant site (the site is owned and being developed by parent company Shato Holdings).

Sales for the project began in the spring of 2015, and construction began last fall. The project is now 100% sold out.

courtesy mcminsen http://po.st/lCYJdG via @imageshack

courtesy mcminsen http://po.st/NHH1lp via @imageshack

courtesy mcminsen http://po.st/3t9Hj4 via @imageshack

Here’s a look at resales data for condo unit resales in the City of Vancouver. Not only have the last few months shown record sales activity, pricing has risen noticeably, from the low $400k range in 2013, to just under $600k in the spring of 2016.

Source: MLS Data