Changes coming for Heights site.

The site of a self-serve car wash at 6147 Hastings St. could be redeveloped into retail and restaurant space.

At the July 30 council meeting, Burnaby council authorized the city’s planning and building depart-ment to work with Terry Barabash, president of JKB Holdings Ltd., on a master plan for the site.

More highrises for Metrotown.

Three three-story apartment buildings in the Metrotown area could be demolished to make way for two highrises.

The first is an application from Concord Pacific for a multi-family highrise with a townhouse component at 6550 Nelson Ave.

A few blocks west of Metropolis at Metrotown and Station Square, another developer is proposing a replacement of two older three-storey rental apartment buildings at 6225 and 6255 Cassie Ave. with a highrise tower.

Based upon the most recent statistics from the Real Estate Board of Greater Vancouver’s Home Price Index, benchmark prices in Port Moody have remained relatively stable over the past couple of months despite a slowdown in resales activity. The benchmark price for condos has dropped 2.0% since May 2012, but townhomes and single family homes have shown an increase.

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Source: REBGV stats. (The home price index measures the rate of change on housing prices based on resales data to obtain benchmark prices.)

For perspective, the benchmark price for single family reached a new peak in July 2012. Overall, since July 2010, single family homes prices in Port Moody have risen 11.1%, while townhouses and condos have actually declined during the same period.

747 Cardero Street, a 2-storey office building at Cardero and Alberni Streets in Downtown Vancouver has sold for $2,800,000, or about $995 per sq ft. The building had been fully vacant at the time of sale.

By Frances Bula – courtesy of the Globe & Mail