Richmond Review – Tower eyed for corner of Cooney and Lansdowne.

A proposal that would dramatically change the appearance of a busy corner in downtown Richmond is awaiting city council’s approval.

CCM Investment Group Ltd. wants to built a 47-metre (154-foot) tower at 8380 Lansdowne Rd. The site is at the corner of Lansdowne and Cooney roads, across from Lansdowne Centre mall.

Proposed is a 12-storey residential tower over a three-storey parkade, designed by IBI Group. Contained in the development is 131 homes, 7,044 square feet of restaurant space and 2,915 square feet of retail room. One large restaurant is proposed to anchor the corner of the development, while a smaller restaurant would front Lansdowne Road.

Read more: http://www.richmondreview.com/news/176841691.html

The Real Estate Board of Greater Vancouver released their October statistics. The residential market continues to show signs of slowing down, although not dramatically. Here are a few highlights:

• Listings were up 12% from 2011, but down 5.3% from September 2012.
• Sales were down 16.7% in October 2012 compared to October 2011.
• Since hitting a record high in April, the benchmark price detached homes on the Westside of Vancouver has declined 8.6% while detached homes in Richmond and West Vancouver have seen declines of 6 % over the same time period.
• Port Moody, Maple Ridge and Port Coquitlam are the only markets where average single family prices have not declined since April.
• North Vancouver, Pitt Meadows and Port Moody are the only markets where average condo unit prices have not declined since April.

Source: REBGV stats

Ted Mildon, Matt Saunders and Drew Gilbertson are pleased to announce the sale of 2403 Main Street in Vancouver. The property consists of 8,000 square feet of retail on the main floor and 12 apartment units on the second floor. Colliers represented both purchaser and vendor in this transaction.

For more information on this sale please contact Ted Mildon.

Values for retail properties in East Vancouver have largely been driven by rents in increasingly populated areas such as Main Street, Commercial Drive and East Hastings Street. Properties with strong tenant covenants in East Vancouver should achieve strong valuations with cap rates even below 5.00%.

SFU wants to expand, build in City Centre.

With student demand now greater than ever, Simon Fraser University is looking to double the capacity of its Surrey facility, from 2,500 full-time students to 5,000 – hopefully starting within the next three years.

That’s according to a proposal submitted by SFU to the provincial government earlier this month, looking not only for approval of the plan but funding for the project as well.

“SFU is the only research university that is trying to substantially grow its undergraduate population and that stems from our location in Surrey and the growth in Surrey and other south Fraser cities,” said Joanne Curry, SFU executive director and associate VP of external relations for SFU Surrey.