“Onni Group has applied to the City of Vancouver to amend the CD-1 By-law at 1695 Main Street. The proposal is to increase the permitted residential floor space from 3.5 floor space ratio (FSR) to 4.08 FSR and increase the permitted height from 13 storeys (38 m) to 15 storeys (44.35 m). This zoning amendment is considered concurrently with development permit no. DE411865.”

See the full rezoning proposal HERE.

955 East Hastings Street moves to public hearing next week. Wall Financial is proposing to rezone the site from M-1 Industrial to CD-1 for a 12-storey mixed use development including over 64,000 square feet of commercial and light industrial job space. The proposal would accommodate 352 residential units, 70 (20%) of which would be social housing units. The total density proposed is 6.15 FSR.

Staff and Council gave conditional approval on September 18 to move forward. A CAC of approximately $20.00 /SF was applied as an in-kind contribution towards the social housing component.

Two properties on Oak Street go before City of Vancouver council next week seeking rezoning for rowhouse developments.

6110-6170 Oak Street & 975 West 46th Ave is a 42,144 SF site located at the northeast corner of Oak and West 46th Avenue. Listraor Homes is proposing to rezone the property from RS-1 to CD-1 to permit a 33 unit rowhouse development under the guidelines of the Oakridge Langara Policy Statement (OPLS). Listraor purchased the property in 2012 as an assembly of single family lots for a total of $9,295,000.

6010-6050 Oak Street is a 24,574 SF site located on the east side of Oak Street between 43rd and 45th Avenues. The owner is proposing to rezone the property from RS-1 to CD-1 to permit a multiple-dwelling development with 19 strata-titled rowhouse units and 9 lock-off units at a floor space ratio (FSR) of 1.2. This site was an assembly of single family lots purchased in 2010 for a combined value of $5,450,000.

A look at the Real Estate Board of Vancouver’s September statistics shows continued evidence that pricing is beginning to be affected by a rapid slowdown in sales. Overall benchmark pricing is down 0.8% YoY and 1.8% over the last six months.

A more detailed review of performance by submarket shows some clear winners and losers over the last 6 months around the time the market started to show signs of weakening. Only 4 submarkets did not show a decline in benchmark prices over the past 6 months: Coquitlam, North Vancouver, Port Moody and Squamish.

Source: REBGV stats. Benchmark resale price change over 6 months ending Sep 2012.

Perhaps not surprisingly, the biggest benchmark price decline over the past 6 months was for single family homes on the West side of Vancouver, declining 6.3%. Richmond was not far behind. Port Coquitlam also showed a decrease of 4.0% in attached homes.

Squamish and Port Moody were clearly two of the strongest markets, showing price increases over the past 6 months for every housing type. One could argue that every submarket will eventually show declines, although some markets, such as Squamish appear to have little room to drop amid stagnant sales activity since 2007.

Housing Analysis Blog has underaken a more in-depth analysis of the stats release; worth the read…