A 7-storey office building at the corner of West Pender and Hornby has sold for $20,300,000, or $495 per sq ft. The 41,000 sq ft building was built in 1968 and had been marketed for sale in early 2012.

The purchaser was a local investor. The top floor has been vacant and can be renovated to allow use as office space.

Wall Financial is proposing a 15 storey non-market rental building with ancillary office at the intersection of Seymour and Helmcken Streets.  The project will have 81 residential units that are rented at non-market rates and may form part of the Community Amenity Contribution for another Wall Financial project at the intersection of Richards and Drake Streets.

More information can be found here: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/1107seymour/index.htm

Boffo Developments in conjunction with James Schouw have started construction of Artemesia at the intersection of Helmcken and Hornby Streets in Downtown Vancouver.  The project was previously halted because of financial troubles but is now proceeding.  The project will include 21 suites over 5 storeys.

During demolition of the building that previously sat on the site, the project made news when walls collapsed into the street damaging public and private property.  View the video here: http://www.youtube.com/watch?v=sUFjy8wQ8mQ

A 14-unit three-storey walkup apartment building in Kits has sold for $4,800,000, or a 3.1% cap rate ($343,000 per unit). The building, located at 2250 York Avenue contains one and two bedroom units and had been listed for sale for $5,600,000. The property is zoned RM-4.

Based upon the most recent statistics from the Real Estate Board of Greater Vancouver’s Home Price Index, sales activity and benchmark prices for condos in New Westminster have been relatively flat over the past 24 months . The benchmark price for condos has increased 0.8% since July 2011.

(click above for greater detail) (source: REBGV stats)