We are pleased to present this unique opportunity to acquire a fully functioning private school property in North Vancouver. Located on a 6.5 acre site, the school contains all the facilities of a typical school including classrooms, library, gym/auditorium, cafeteria and boarding facilities with 350 dorm beds.
An 11-unit apartment building, known as Bel Aire Apartments at 6356 East Boulevard, has sold for $4,710,000, or $428,000 per unit, or a 2.10% cap rate. The buyer is East Boulevard Property (Westland) Ltd. The building had been listed for sale for $5,000,000.
Porte Development has submitted a rezoning application for a 46,239 SF site at the corner of Dawson Street and Madison Avenue in the Brentwood Area of Burnaby. Unlike the rest of Brentwood, this proposal is not for a tower but for a 6-storey woodframe building with retail at grade and 92 residential units above. The plan includes:
- a total density of 2.2 FAR
- 100,828 SF of buildable SF
- 7,890 SF of CRU space
- 21 one-beds, 60 two-beds and 11 three-beds
- 178 underground parking spaces
Woodframe product is relatively scarce and will be a welcome project amid Brentwood’s thousands of highrise units in various stages of development.
The second half of the site was assembled earlier this year after the other half was bought in 2006 for a blended cost of approximately $47 per buildable SF.