Photo courtesy 604City on Flickr.
Reliance Properties has applied to the City of Vancouver for permission to develop the Northeast corner of Bidwell and Davie with a 22-storey secured market rental building with commercial retail units at grade. The site is 12,970 SF and is zoned C5-A, therefore it does not require rezoning but is a conditional approval that requires the decision of the Development Permit Board. The West End Community Plan includes design guidelines that facilitated this proposal, which includes:
- 108 residential units (all secured market rental);
- total gross floor area of 102,927 SF, including 5,000 SF of commercial retail;
- Total density of 7.4 FSR
- 77 underground parking spaces on 4 levels
- Replacement of 12 existing rental units and older commercial space
More information on the development application can be found here.
A Kerrisdale retail building that was previously on the market for $4,980,000 has sold for $5,090,000. More commonly known to locals as the old Finn’s of Kerrisdale, the 5,081 SF building at 2159 West 41st Avenue sold for over $1,000 per SF to Yuan Fan International Group Inc. The property is zoned C-2 and is located in the heart of Kerrisdale’s 41st Ave retail stretch. This is not a record value for a Kerrisdale investment property; several buildings have traded for well over $1,000 per SF in the past few years.
A leasing brochure indicates that the new owner plans to renovate the building. Half of the retail has already been leased and the other unit is available for lease for $50.00 per SF.