A 14-unit apartment building in the Kitsilano area of Vancouver has sold for $2,990,000, or $214,000 per unit and a cap rate estimated to be approximately 4.25%. The Afton Apartments is located at 2045 Maple Street, at the corner of 5th and Maple. The purchaser is Headwater Projects a local private equity firm.

Burnaby NewsLeader – Morningstar Homes brings coach homes to Coquitlam.

Morningstar Homes is introducing a new type of single-family home to Coquitlam with its newest project, Somerton. Bringing an added coach home to their always-gorgeous floorplans, Morningstar is offering a degree of livability and affordability that is unique to the area.

“Coquitlam has never done this before,” says Deborah Calahan, Vice-President of Sales and Marketing for Morningstar. “This is really the right product at the right time.”

With 34 homes in the development, 21 of which will have coach homes (the others will have the option for a legal suite in the finished basement), Morningstar is building on its legacy for amazing homes.

Read more: http://www.burnabynewsleader.com/business/realestate/181571491.html

Dava Developments Ltd. has applied to the City of Vancouver to rezone 4139-4187 Cambie Street from from RS-1 to a Comprehensive Development District. The proposal is for two 6-storey residential buildings on Cambie Street and one 2-storey townhouse on the rear lane, with a total of 76 residential units, including 11 townhouses and 65 apartment units. The proposal includes a floor area of 86,416 SF, a density of 2.6 FSR, and two levels of underground parking with 114 parking stalls.

The site, just over 33,000 SF in size and comprised of three single family lots, had been sold by Colliers in 2011 for $12,750,000.

More information can be found here.

The Tri-City News – Changes in store for Moody’s core.

Port Moody’s vision for a post-Evergreen Line community includes new mixed-use neighbourhoods, walkable neighbourhoods and even high-density towers in Moody Centre.

The draft of the official community plan update, which has been in the works since shovels went in the ground for Evergreen, was presented to council’s committee of the whole on Tuesday. It pulls together information a public survey, public input session and a design charette and offers the following changes:

• Western end of Moody Centre, next to Barnet Highway: Pictured as PoMo’s western gateway, the proposed changes will bring in more commercial space to serve local residents. Increased density comes with buildings ranging from six to 12 storeys, with multi-family residential development encouraged.

Read more: http://www.tricitynews.com/news/181445481.html

Polygon Homes is proposing to rezone a site at Mountain Highway and 27th in the Lynn Valley Town Centre area for a 108-unit residential complex consisting of two apartment buildings, one of 4 storeys in height and the second, 5 storeys in height. The overall density is 1.96 FAR (before road dedication) which is in keeping with the Official Community Plan.

The site includes 7 lots currently zoned RM2 and RM3. Polygon is proposing a residential complex that will consist of two buildings connected with a central lobby area. The total number of residential units will be 108 units and will include: 9 one bedroom units, 83 two bedroom units in a mix of styles and sizes, and 16 three bedroom units.