Hollyburn Properties have acquired Crestview Terrace, a 10-storey concrete apartment building located at 1414 Davie Street in the West End of Vancouver. The building has 36 units and was built in 1965. The price was $7,641,560, equating to $212,000 per unit, and a capitalization rate of 3.8%. The zoning for the property is RM-5A.

Holborn Group has acquired 620-622 Seymour Street in Downtown Vancouver for $5,500,000, or $478 per sq ft. The 2-storey, 11,500 sq ft building has been vacant. The site is 6,000 sq ft which equates to $183 per buildable square foot on land value.

Holborn owns the adjacent Bay Parkade and this acquisition represents additional assembly of land with future redevelopment potential.

Larco Investments Ltd. is planning a redevelopment of Park Royal South to include potentially 350 condo units in two towers, as well as redesigned vehicle circulation, new retail space and state of the art cinemas.

Larco plans to consult with the public and Squamish First Nations over the next 6 to 9 months, followed by a formal proposal to the City of West Vancouver in early 2012. Construction could begin as early as 2014.

Plans are available at Park Royal, or can be viewed here.

Canada Safeway has placed its 42-acre property in the Edmonds area of Burnaby on the market. The site is currently used for a warehousing and distribution centre but is designated within the City of Burnaby’s Official Community Plan as multi-family residential. It is an excellent development opportunity with the potential to develop upwards of 1,500 units.

Anthem Properties has acquired 190 Alexander Street, ‘The Harbourview’, a 6-storey, 40,000 sq ft office building located at Alexander Street and Hastings Street on the edge of Gastown in Vancouver, B.C.

The purchase price was $10,375,000 representing $262 per sq ft. The building is reinforced concrete and was built in 1979. It features excellent views of the North Shore.